1. The following transactions relate to a business concern for the month of
December 2005. Journalise them, post into ledger accounts, balance and prepare the Trial Balance.
March 1 - Started business with a capital of Rs.9,000
March 2 - Purchased furniture Rs.300
March 3 - Purchased goods Rs.6,000
March 11 - Received order for half-of goods from `C’
March 15 - Delivered goods, `C’ invoiced Rs.4,000
March 17 - Received order for the remaining half of goods
March 21 - Delivered goods, cash received Rs.3,800
March 31 - Paid wages Rs.300
2. Make necessary entries in the journals of sudhir in respect of the following transactions : 2010 June 1: Sudhir commenced business with Rs. 50000, out of which Rs 30000 were his own Rs. 20000 were borrowed by him from his brother Sushil. June 7: purchased goods for Rs.20000, out of which goods of the value of Rs.3000 were destroyed by fire but loss amounted Rs.25000 only . The insurance company accepted this claim but paid for it on June 10 . June 15 received from Mahesh an order for Rs.3000. June 18 Sudhir asks his supplier Ram to send goods to Mahesh according to the order .
3. Pass the jounal entries for the following transactions in the books of Kamla of Jaipur:
2010
Jan .1 Purchased goods for cash at 20% trade discount and 5 % cash discount from suresh, the list price of which is Rs 20000.
June .5 Purchased goods from Mahesh at 20% trade discount, list price of these goods is Rs. 8000.
Jan.6 returned goods to Mahesh as thsese were defective, list price of theses goods is Rs 700
Jan 10 Withdrew goods of Rs. 200 for personal use.
Jan. 12 Sold goods to Dinesh for cash , the list price of these goods is Rs. 2000. Trade Discount 5% and cash discount 1% are allowed to him
Jan 21 Sold goods, whose list price is Rs. 5000, to Mohan at
% trade discount and 1 cash discount. He paid 60% price in cash.
Jan 31 Purchased goods whose list price is Rs 6000 from Mohanlal at 10% trade discount and 3% cash discount and paid 80% price in cash.
4. Pass the journal entries for the following transaction in the books in the books of Shri Banwarilal .
2010 Jan 1 Sold goods to Mohan on credit Rs. 10000 Jan 2 sold goods to Shyam on credit Rs. 5000 Jan 2 purchased goods worth Rs. 2000 from Ramlal. Jan 3 Received a cheque from Mohan for Rs. 10000 Jan 4 deposited Mohan’s cheque in the bank Jan 5 received a cheque from Shyam for Rs. 5000 and deposited into the bank . Jan 6 Mohan’s cheque got dishonored . Jan 7 withdrew cash Rs 500 from bank. Jan 8 issued a cheque to Ramlal of Rs.1950 for full settlement . Jan 9 Cheque issued to Ramlal got bounced.
5. Jornalises the following transaction in the books of Sudhir.
2010
April1 started business with cash 10000
April 2 Purchased goods for cash 2000
April 5 Purchased goods from Mohan 5000
April 7 bought Machinery 1000
April 11 Sold goods to Shanker 3000
April 12 returned goods to Mohan 50
April 16 Goods returned by shanker 40
April 18 Paid cash to Mohan 4000
April 20 Purchased goods from Ramesh 2000
April 22 Received cash from Shanker 2500
April 23 Theft of cash from office by a clerk 700
April 24 paid salary in advance 400
April 25 Ordered his supplier dinesh to send Rs. 5000 worth of goods to Mohan and inform him of compliance
April 26 Goods distributed for free sample 200
April 27 cash given for charity 500
April 28 Paid insurance premium by Cheque 6000

6 . pass the opening entry on Jan 1 2012 on the basis of the following information taken from the business of Mr.. Sunil. 1. Cash in hand 2000 2. Sundry debtors 6000 3. Stock of goods 4000 4. Plant 5000 5. Land and building 10000 6. Sundry creditors 10000
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