Question 3.
a) Journalise the following transactions
b) Prepare Ledger Accounts
c) Prepare Trail Balance
March 1 Started Business with Rs 200,000
March 1 Bought goods for cash Rs. 6,000
March 2 Purchased furniture 25,000
March 4 Sold good to ABC Brothers Rs. 1,500
March 5 Purchased goods form XYZ & Sons Rs. 4,000
March 6 Purchased furniture Rs. 12,000
March 8 Returned goods to XYZ & Sons Rs. 1,000
March 15 Sold goods to Kamal & Co Rs. 5,000
March 20 Goods returned by Kamal & Co 1,500
March 28 Wages paid Rs. 8,000
March 30 Salaries paid Rs. 12,000
Answers
1,39,000
Explanation:
She started the business with 2,00,000 rupees.
she purchased goods with 6,000 rupees and purchased furniture with 25,000 rupees then we should subtract these two amounts from business amount. She sold goods to ABC brother's by this she earn profit 1,500 rupees we should add it. She purchased goods from XYZ & Sons with 4,000 rupees and furniture with 12,000 rupees then we should subtract from business amount. Again she returned goods to XYZ & Sons then she earns 1,000 rupees then we should add to business amount. She sold goods to Kamal & Co for 5,000 rupees then she earns money so we should add to business amount. Again goods returned by Kamal & Co to her with 1,500 rupees , wages paid is 8,000 rupees and salaries paid 12,000 rupees so these three should be subtracted from business amount.
2,00,000-6,000-25,000+1,500-4,000-12,000+1,000+ 5,000-1,500-8,000-12,000=1,39,000