Question 1:
On 1st April, 2018, Mohit started business with a capital of Rs. 50,000. He made the following transactions:
2018 |
| (Rs) |
April 03 | Purchased goods from Rita on credit for | 20,000 |
April 04 | Cash paid to Rita | 10,000 |
April 06 | Goods sold to Rohit | 25,000 |
April 08 | Received cash from Rohit | 20,000 |
April 12 | Goods purchased from Rita | 12,000 |
April 18 | Cash paid to Rita | 20,000 |
April 25 | Goods sold to Rohit | 10,000 |
April 30 | Received cash from Rohit | 6,000 |
You are required to journalise the above transactions and show the respective Ledger accounts.
Answer 1:
Statement showing Journal of Mohit
Books of Mr Mohit Journal | |||||
Date | Particulars | L.F. | Debit Amount (Rs) | Credit Amount (Rs) | |
2018 |
|
|
|
|
|
Apr.01 | Cash A/c | Dr. |
| 50,000 |
|
| To Capital A/c |
|
|
| 50,000 |
| (Being started Business with cash by Mohit) |
|
|
|
|
|
|
|
|
|
|
Apr.03 | Purchases A/c | Dr. |
| 20,000 |
|
| To Rita’s A/c |
|
|
| 20,000 |
| (Being purchased goods on credit) |
|
|
|
|
|
|
|
|
|
|
Apr.04 | Rita’s A/c | Dr. |
| 10,000 |
|
| To Cash A/c |
|
|
| 10,000 |
| (Being amount paid to Rita) |
|
|
|
|
|
|
|
|
|
|
Apr.06 | Rohit’s A/c | Dr. |
| 25,000 |
|
| To Sales A/c |
|
|
| 25,000 |
| (Being material sold on credit) |
|
|
|
|
|
|
|
|
|
|
Apr.08 | Cash A/c | Dr. |
| 20,000 |
|
| To Rohit’s A/c |
|
|
| 20,000 |
| (Being amount received from Rohit) |
|
|
|
|
|
|
|
|
|
|
Apr.12 | Purchases A/c | Dr. |
| 12,000 |
|
| To Rita’s A/c |
|
|
| 12,000 |
| (Being material purchased on credit) |
|
|
|
|
|
|
|
|
|
|
Apr.18 | Rita’s A/c | Dr. |
| 20,000 |
|
| To Cash A/c |
|
|
| 20,000 |
| (Being cash amount paid to Rita) |
|
|
|
|
|
|
|
|
|
|
Apr.25 | Rohit’s A/c | Dr. |
| 10,000 |
|
| To Sales A/c |
|
|
| 10,000 |
| (Being material sold to Rohit) |
|
|
|
|
|
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|
|
|
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Apr.30 | Cash A/c | Dr. |
| 6,000 |
|
| To Rohit’s A/c |
|
|
| 6,000 |
| (Being amount received from Rohit) |
|
|
|
|
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|
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Following are the ledgers shown in the books of Mohit
Cash Account | |||||||
Dr. |
| Cr. | |||||
Date | Particulars | J.F. | Amount (Rs) | Date | Particulars | J.F. | Amount (Rs) |
2018 |
|
|
| 2018 |
|
|
|
Apr.01 | To Capital A/c |
| 50,000 | Apr.04 | By Rita’s A/c |
| 10,000 |
Apr.08 | To Rohit’s A/c |
| 20,000 | Apr.18 | By Rita’s A/c |
| 20,000 |
Apr.30 | To Rohit’s A/c |
| 6,000 | Apr.30 | By Balance c/d |
| 46,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 76,000 |
|
|
| 76,000 |
May.01 | Balance b/d |
| 46,000 |
|
|
|
|
Capital Account | |||||||
Dr. |
| Cr. | |||||
Date | Particulars | J.F. | Amount (Rs) | Date | Particulars | J.F. | Amount (Rs) |
2018 |
|
|
| 2018 |
|
|
|
Apr.30 | To Balance c/d |
| 50,000 | Apr.01 | By Cash A/c |
| 50,000 |
|
|
|
|
|
|
|
|
|
|
| 50,000 |
|
|
| 50,000 |
|
|
|
| May.01 | By Balance b/d |
| 50,000 |
Purchases Account | |||||||||
Dr. |
| Cr. | |||||||
Date | Particulars | J.F. | Amount (Rs) | Date | Particulars | J.F. | Amount (Rs) | ||
2018 |
|
|
| 2018 |
|
|
| ||
Apr.03 | To Rita’s A/c |
| 20,000 | Apr.30 | By Balance c/d |
| 32,000 | ||
Apr.12 | To Rita’s A/c |
| 12,000 |
|
|
|
| ||
|
|
|
|
|
|
|
| ||
|
|
| 32,000 |
|
|
| 32,000 | ||
May.01 | To Balance b/d |
| 32,000 |
|
|
|
| ||
|
|
|
|
|
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|
|
|
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Rita’s Account | |||||||||||||||||||||||||
Dr. |
| Cr. | |||||||||||||||||||||||
Date | Particulars | J.F. | Amount (Rs) | Date | Particulars | J.F. | Amount (Rs) | ||||||||||||||||||
2018 |
|
|
| 2018 |
|
|
| ||||||||||||||||||
Apr.04 | To Cash A/c |
| 10,000 | Apr.03 | By Purchases A/c |
| 20,000 | ||||||||||||||||||
Apr.18 | To Cash A/c |
| 20,000 | Apr.12 | By Purchases A/c |
| 12,000 | ||||||||||||||||||
Apr.30 | To Balance c/d |
| 2,000 |
|
|
|
| ||||||||||||||||||
|
|
|
|
|
|
|
| ||||||||||||||||||
|
|
| 32,000 |
|
|
| 32,000 | ||||||||||||||||||
|
|
|
| May.01 | Balance b/d |
| 2,000 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Rohit’s Account | |||||||||||||||||||||||||
Dr. |
| Cr. | |||||||||||||||||||||||
Date | Particulars | J.F. | Amount (Rs) | Date | Particulars | J.F. | Amount (Rs) | ||||||||||||||||||
2018 |
|
|
| 2018 |
|
|
| ||||||||||||||||||
Apr.06 | To Sales A/c |
| 25,000 | Apr.08 | By Cash A/c |
| 20,000 | ||||||||||||||||||
Apr.25 | To Sales A/c |
| 10,000 | Apr.30 | By Cash A/c |
| 6,000 | ||||||||||||||||||
|
|
|
| Apr.30 | By Balance c/d |
| 9,000 | ||||||||||||||||||
|
|
|
|
|
|
|
| ||||||||||||||||||
|
|
| 35,000 |
|
|
| 35,000 | ||||||||||||||||||
May.01 | To Balance b/d |
| 9,000 |
|
|
|
| ||||||||||||||||||
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| ||||||||||||||||
Sales Account | |||||||||||||||||||||||||
Dr. |
| Cr. | |||||||||||||||||||||||
Date | Particulars | J.F. | Amount (Rs) | Date | Particulars | J.F. | Amount (Rs) | ||||||||||||||||||
2018 |
|
|
| 2018 |
|
|
| ||||||||||||||||||
Apr.30 | To Balance c/d |
| 35,000 | Apr.06 | By Rohit’s A/c |
| 25,000 | ||||||||||||||||||
|
|
|
| Apr.25 | By Rohit’s A/c |
| 10,000 | ||||||||||||||||||
|
|
|
|
|
|
|
| ||||||||||||||||||
|
|
| 35,000 |
|
|
| 35,000 | ||||||||||||||||||
|
|
|
| May.01 | Balance b/d |
| 35,000 | ||||||||||||||||||
Point of Knowledge:-
(1) If the debit side total is more than the credit side total write the difference on the credit side as “By Balance c/d”.
(2) If the credit side total is more than the debit side total write the difference on the credit side as “To Balance c/d”.
Question 2:
Suresh, Kanpur commenced business on 1st January, 2018 introducing capital in cash Rs. 1, 00,000. His other transactions during the month were as follows:
2018 |
| (Rs) |
Jan 1 | Started business with cash | 1,00,000 |
Jan 2 | Bought goods for cash | 20,000 |
Jan 3 | Sold goods for cash | 7,000 |
Jan 15 | Sold goods to Shravan, Delhi | 6,000 |
Jan 18 | Bought goods on credit from Anurag, Kanpur | 60,000 |
Jan 19 | Goods returned to Anurag | 5,000 |
Jan 20 | Sold goods for cash | 30,000 |
Jan 22 | Paid electricity bill | 1,000 |
Jan 28 | Paid for telephone bill | 500 |
Jan 29 | Paid rent | 800 |
Jan 31 | Paid wages | 3000 |
Enter the above transactions in his books of account
Answer 2:
Statement showing Journal of Suresh, Kanpur
Books of Mr. Suresh Journal | |||||
Date | Particulars | L.F. | Debit Amount (Rs) | Credit Amount (Rs) | |
2018 |
|
|
|
|
|
Jan 01 | Cash A/c | Dr. |
| 1,00,000 |
|
| To Capital A/c |
|
|
| 1,00,000 |
| (Being business commenced with cash) |
|
|
|
|
|
|
|
|
|
|
Jan 02 | Purchases A/c | Dr. |
| 20,000 |
|
| To Cash A/c |
|
|
| 20,000 |
| (Being stock purchased in cash) |
|
|
|
|
|
|
|
|
| |
Jan 03 | Cash A/c | Dr. |
| 7,000 |
|
| To Sales A/c |
|
|
| 7,000 |
| (Being stock sold for cash) |
|
|
|
|
|
|
|
|
|
|
Jan 15 | Shravan’s A/c | Dr. |
| 6,000 |
|
| To Sales A/c |
|
|
| 6,000 |
| (Being material sold to Shravan on credit ) |
|
|
|
|
|
|
|
|
|
|
Jan 18 | Purchases A/c | Dr. |
| 50,000 |
|
| To Anurag’s A/c |
|
|
| 50,000 |
| (Being Stock purchased from Anurag von credit) |
|
|
|
|
|
|
|
|
|
|
Jan 19 | Anurag’s A/c | Dr. |
| 5,000 |
|
| To Purchases Return A/c |
|
|
| 5,000 |
| (Being purchases returned by Anurag) |
|
|
|
|
|
|
|
|
|
|
Jan 20 | Cash A/c | Dr. |
| 30,000 |
|
| To Sales A/c |
|
|
| 30,000 |
| (Being material sold for cash) |
|
|
|
|
|
|
|
|
|
|
Jan 22 | Electricity Expenses A/c | Dr. |
| 1,000 |
|
| To Cash A/c |
|
|
| 1,000 |
| (Being Bill of electricity was paid) |
|
|
|
|
|
|
|
|
|
|
Jan 28 | Telephone Expenses A/c | Dr. |
| 500 |
|
| To Cash A/c |
|
|
| 500 |
| (Being amount of telephone bill was paid) |
|
|
|
|
|
|
|
|
|
|
Jan 29 | Rent A/c | Dr. |
| 800 |
|
| To Cash A/c |
|
|
| 800 |
| (Being rent paid to landlord) |
|
|
|
|
|
|
|
|
|
|
Jan 31 | Wages A/c | Dr. |
| 3,000 |
|
| To Cash A/c |
|
|
| 3,000 |
| (Being wages paid in cash) |
|
|
|
|
Following are the ledgers shown in the books of Suresh, Kanpur
Cash Account | |||||||
Dr. |
| Cr. | |||||
Date | Particulars | J.F. | Amount (Rs) | Date | Particulars | J.F. | Amount (Rs) |
Jan 01 | To Capital A/c |
| 1,00,000 | Jan 02 | By Purchases A/c |
| 20,000 |
Jan 03 | To Sales A/c |
| 7,000 | Jan 22 | By Electricity Expenses A/c |
| 1,000 |
Jan 20 | To Sales A/c |
| 30,000 | Jan 28 | By Telephone Expenses A/c |
| 500 |
|
|
|
| Jan 29 | By Rent A/c |
| 800 |
|
|
|
| Jan 31 | By Wages A/c |
| 3,000 |
|
|
|
| Jan 31 | By Balance c/d |
| 1,11,700 |
|
|
| 1,37,000 |
|
|
| 1,37,000 |
|
|
|
|
|
|
|
|
Capital Account | |||||||
Dr. |
| Cr. | |||||
Date | Particulars | J.F. | Amount (Rs) | Date | Particulars | J.F. | Amount (Rs) |
Jan 01 | To Cash A/c |
| 1,00,000 | Jan 31 | By Balance c/d |
| 1,00,000 |
|
|
|
|
|
|
|
|
|
|
| 1,00,000 |
|
|
| 1,00,000 |
|
|
|
|
|
|
|
|
Purchases Account | |||||||
Dr. |
| Cr. | |||||
Date | Particulars | J.F. | Amount (Rs) | Date | Particulars | J.F. | Amount (Rs) |
Jan 02 | To Cash A/c |
| 20,000 | Jan 31 | By Balance c/d |
| 70,000 |
Jan 18 | To Anurag’s A/c |
| 50,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 70,000 |
|
|
| 70,000 |
|
|
|
|
|
|
|
|
Sales Account | |||||||
Dr. |
| Cr. | |||||
Date | Particulars | J.F. | Amount (Rs) | Date | Particulars | J.F. | Amount (Rs) |
Jan 31 | To Balance c/d |
| 43,000 | Jan 03 | By Cash A/c |
| 7,000 |
|
|
|
| Jan 15 | By Shravan’s A/c |
| 6,000 |
|
|
|
| Jan 20 | By Cash A/c |
| 30,000 |
|
|
| 43,000 |
|
|
| 43,000 |
|
|
|
|
|
|
|
|
Shravan Account | |||||||
Dr. |
| Cr. | |||||
Date | Particulars | J.F. | Amount (Rs) | Date | Particulars | J.F. | Amount (Rs) |
Jan 15 | To Sales A/c |
| 6,000 | Jan 31 | By Balance c/d |
| 6,000 |
|
|
|
|
|
|
|
|
|
|
| 6,000 |
|
|
| 6,000 |
|
|
|
|
|
|
|
|
Anurag Account | |||||||
Dr. |
| Cr. | |||||
Date | Particulars | J.F. | Amount (Rs) | Date | Particulars | J.F. | Amount (Rs) |
Jan 19 | To Purchases Return A/c |
| 5,000 | Jan 18 | By Purchases A/c |
| 50,000 |
Jan 31 | To Balance c/d |
| 45,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 50,000 |
|
|
| 50,000 |
|
|
|
|
|
|
|
|
Purchases Return Account | |||||||
Dr. |
| Cr. | |||||
Date | Particulars | J.F. | Amount (Rs) | Date | Particulars | J.F. | Amount (Rs) |
Jan 31 | To Balance c/d |
| 5,000 | Jan 19 | By Anurag’s A/c |
| 5,000 |
|
|
|
|
|
|
|
|
|
|
| 5,000 |
|
|
| 5,000 |
|
|
|
|
|
|
|
|
Electricity Expenses Account | |||||||
Dr. |
| Cr. | |||||
Date | Particulars | J.F. | Amount (Rs) | Date | Particulars | J.F. | Amount (Rs) |
Jan 22 | To Cash A/c |
| 1,000 | Jan 31 | By Balance c/d |
| 1,000 |
|
|
|
|
|
|
|
|
|
|
| 1,000 |
|
|
| 1,000 |
&nbsnbsp; |
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|
Telephone Expenses Account | |||||||
Dr. |
| Cr. | |||||
Date | Particulars | J.F. | Amount (Rs) | Date | Particulars | J.F. | Amount (Rs) |
Jan 28 | To Cash A/c |
| 500 | Jan 31 | By Balance c/d |
| 500 |
|
|
|
|
|
|
|
|
|
|
| 500 |
|
|
| 500 |
|
|
|
|
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|
|
|
Rent Account | |||||||
Dr. |
| Cr. | |||||
Date | Particulars | J.F. | Amount (Rs) | Date | Particulars | J.F. | Amount (Rs) |
Jan 29 | To Cash A/c |
| 800 | Jan 31 | By Balance c/d |
| 800 |
|
|
|
|
|
|
|
|
|
|
| 800 |
|
|
| 800 |
|
|
|
|
|
|
|
|
Wages Account | |||||||
Dr. |
| Cr. | |||||
Date | Particulars | J.F. | Amount (Rs) | Date | Particulars | J.F. | Amount (Rs) |
Jan 31 | To Cash A/c |
| 3,000 | Jan 31 | By Balance c/d |
| 3,000 |
|
|
|
|
|
|
|
|
|
|
| 3,000 |
|
|
| 3,000 |
|
|
|
|
|
|
|
|
Point of Knowledge:
(i) As Sales made on Jan. 15 is on credit so the Assets (debtors) will increases.
(ii) As Purchases made on Jan. 18 is on credit so the liability (creditor) will increases.
Question 3:
Journalise the following transactions in the books of Afzal, Kolkata and post them to the Ledger:
2018 |
| (Rs) |
Jan. 1 | Started business with cash* | 1,00,000 |
Jan. 3 | Bought goods on credit from Gupta & Co., Delhi | 20,000 |
Jan. 5 | Cash sales | 5,000 |
Jan. 8 | Cash purchases | 8,000 |
Jan. 10 | Sold goods to Ahmed & Co., Lucknow | 10,000 |
Jan. 11 | Deposited cash in bank* | 50,000 |
Jan. 13 | Purchased a computer for office | 20,000 |
Jan. 15 | Took a loan from Mehboob* | 70,000 |
Jan. 16 | Goods returned by Ahmed & Co. | 2,000 |
Jan. 17 | Purchased furniture from Mehfil Mart, Kolkata | 10,000 |
Jan. 18 | Paid interest to Mehboob* | 2,000 |
Jan. 19 | Received claim from Ahmed & Co. for defects in goods supplied to them. Claim was accepted and rebate was allowed.* | 1,000 |
Jan. 22 | Paid rent by cheque | 2,000 |
Jan. 24 | Withdrew from bank* | 20,000 |
Jan. 25 | Sales of goods at counter after allowing trade discount of 10% | 10,000 |
Jan. 26 | Goods purchased from Gupta & Co., Delhi were destroyed by accident | 10,000 |
Jan. 27 | Advertisement expenses paid through bank | 5,000 |
Jan. 28 | Ahmed & Co. settled their account by cheque* | 7,000 |
Jan. 29 | Paid to Gupta & Co. by cheque* | 18,000 |
| Discount allowed by them* | 2,000 |
Jan. 31 | Sold old newspapers | 500 |
Intra-state transactions are subject to levy of CGST and SGST @ 6% each whereas inter-state transactions are subject to levy of IGST @ 12%. Out of the above transactions, transactions marked (*) are not subject to levy of GST.
Answer 3:
Statement showing Journal of Afjal, Kolkata
In the books of Afjal Journal | |||||
Date | Particulars |
| L.F. | Debit Amount (Rs) | Credit Amount (Rs) |
2018 |
|
|
|
|
|
Jan.01 | Cash A/c | Dr. |
| 1,00,000 |
|
| To Capital A/c |
|
|
| 1,00,000 |
| (Being started Business with cash by Afjal) |
|
|
|
|
|
|
|
|
|
|
Jan.03 | Purchases A/c | Dr. |
| 20,000 |
|
| Input IGST A/c | Dr. |
| 2,400 |
|
| To Gupta & Co.’s A/c |
|
|
| 22,400 |
| (Being Stock purchased on credit and @ 12% IGST applied) |
|
|
|
|
|
|
|
|
|
|
Jan.05 | Cash A/c | Dr. |
| 5,600 |
|
| To Sales A/c |
|
|
| 5,000 |
| To Output CGST A/c |
|
|
| 300 |
| To Output SGST A/c |
|
|
| 300 |
| (Being sold material for cash and @ 6% CGST & SGST applied) |
|
|
|
|
|
|
|
|
|
|
Jan.08 | Purchases | Dr. |
| 8,000 |
|
| Input CGST A/c | Dr. |
| 480 |
|
| Input SGST A/c | Dr. |
| 480 |
|
| To Cash A/c |
|
|
| 8,960 |
| (Being Stock purchased for cash @ 6% CGST & SGST paid) |
|
|
|
|
|
|
|
|
|
|
Jan.10 | Ahmed & Co. | Dr. |
| 11,200 |
|
| To Sales A/c |
|
|
| 10,000 |
| To Output IGST A/c |
|
|
| 1,200 |
| (Being sold material on credit and @ 12% IGST charged) |
|
|
|
|
|
|
|
|
|
|
Jan.11 | Bank A/c | Dr. |
| 50,000 |
|
| To Cash A/c |
|
|
| 50,000 |
| (Being amount deposited into bank) |
|
|
|
|
|
|
|
|
|
|
Jan.13 | Computers A/c | Dr. |
| 20,000 |
|
| Input CGST A/c | Dr. |
| 1,200 |
|
| Input SGST A/c | Dr. |
| 1,200 |
|
| To Cash A/c |
|
|
| 22,400 |
| (Being purchased Computers for office and @ 6% CGST and SGST paid) |
|
|
|
|
|
|
|
|
|
|
Jan.15 | Cash A/c | Dr. |
| 70,000 |
|
| To Loan from Mehboob A/c |
|
|
| 70,000 |
| (Being Loan taken) |
|
|
|
|
|
|
|
|
|
|
Jan.16 | Sales Return A/c | Dr. |
| 2,000 |
|
| Output IGST A/c | Dr. |
| 240 |
|
| To Ahmed & Co. A/c |
|
|
| 2,240 |
| (Being sold goods returned by Ahmed & Co.) |
|
|
|
|
|
|
|
|
|
|
Jan.17 | Furniture A/c | Dr. |
| 10,000 |
|
| Input CGST A/c | Dr. |
| 600 |
|
| Input SGST A/c | Dr. |
| 600 | 11,200 |
| To Mehfil Mart’s A/c |
|
|
|
|
| (Being purchased furniture on credit and @ 6% CGST and SGST paid) |
|
|
|
|
|
|
|
|
|
|
Jan.18 | Interest on Loan A/c | Dr. |
| 2,000 |
|
| To Cash A/c |
|
|
| 2,000 |
| (Being Interest paid to Mehboob) |
|
|
|
|
|
|
|
|
|
|
Jan.19 | Insurance Claim A/c | Dr. |
| 1,000 |
|
| To Ahmed & Company’s A/c |
|
|
| 1,000 |
| (Being Insurance Claim due) |
|
|
|
|
|
|
|
|
|
|
Jan.22 | Rent A/c | Dr. |
| 2,000 |
|
| Input CGST A/c | Dr. |
| 120 |
|
| Input SGST A/c | Dr. |
| 120 | 2,240 |
| To Bank A/c |
|
|
|
|
| (Being rent paid to landlord & 6% CGST and SGST paid) |
|
|
|
|
|
|
|
|
|
|
Jan.24 | Cash A/c | Dr. |
| 20,000 |
|
| To Bank A/c |
|
|
| 20,000 |
| (Being amount withdrawn from bank) |
|
|
|
|
|
|
|
|
|
|
Jan.25 | Cash A/c | Dr. | 10,080 |
| |
| To Sales A/c |
|
|
| 9,000 |
| To Output CGST A/c |
|
|
| 540 |
| To Output SGST A/c |
|
|
| 540 |
| (Being material sold for cash and @ 6% CGST and SGST paid) |
|
|
|
|
|
|
|
|
|
|
Jan.26 | Loss by Accident A/c | Dr. |
| 11,200 |
|
| To Purchases A/c |
|
|
| 10,000 |
| To Input IGST A/c |
|
|
| 1,200 |
| (Being goods lost and IGST reversed ) |
|
|
|
|
|
|
|
|
|
|
Jan.27 | Advertisement A/c | Dr. |
| 5,000 |
|
| Input CGST A/c | Dr. |
| 300 |
|
| Input SGST A/c | Dr. |
| 300 |
|
| To Bank A/c |
|
|
| 5,600 |
| (Being amount paid for advertisement with 6% IGST paid) |
|
|
|
|
|
|
|
|
|
|
Jan.28 | Bank A/c | Dr. |
| 7,000 |
|
| Discount Allowed A/c | Dr. |
| 960 |
|
| To Ahmed & Company A/c |
|
|
| 7,960 |
| (Being amount received from Ahmed & Co. in full settlement& discount allowed) |
|
|
|
|
|
|
|
|
|
|
Jan.29 | Gupta & Company A/c | Dr. |
| 20,000 |
|
| To Bank A/c |
|
|
| 18,000 |
| To Discount Received A/c |
|
|
| 2,000 |
| (Being amount paid to Gupta & Company) |
|
|
|
|
|
|
|
|
|
|
Jan.31 | Cash A/c | Dr. |
| 560 |
|
| To Sundry Income A/c |
|
|
| 500 |
| To Output CGST A/c |
|
|
| 30 |
| To Output SGST A/c |
|
|
| 30 |
| (Being amount received with 6% IGST) |
|
|
|
|
Following are the ledgers shown in the books of Afjal, Kolkata
Cash Account | |||||||
Dr. |
| Cr. | |||||
Date | Particulars | J.F. | Amount (Rs) | Date | Particulars | J.F. | Amount (Rs) |
2018 |
|
|
| 2018 |
|
|
|
Jan.01 | To Capital A/c |
| 1,00,000 | Jan.08 | By Purchases A/c |
| 8,960 |
Jan.05 | To Sales A/c |
| 5,000 | Jan.11 | By Bank A/c |
| 50,000 |
Jan.15 | To Loan A/c |
| 70,000 | Jan.13 | By Computer A/c |
| 22,400 |
Jan.24 | To Bank A/c |
| 20,000 | Jan.18 | By Interest on Loan A/c |
| 2,000 |
Jan.25 | To Sales A/c |
| 10,080 | Jan.31 | By Balance c/d |
| 1,22,280 |
Jan.31 | To Sundry income A/c |
| 560 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2,05,640 |
|
|
| 2,05,640 |
Feb.01 | To Balance b/d |
| 1,22,280 |
|
|
|
|
Purchases Account | |||||||
Dr. |
| Cr. | |||||
Date | Particulars | J.F. | Amount (Rs) | Date | Particulars | J.F. | Amount (Rs) |
2018 |
|
|
| 2018 |
|
|
|
Jan.03 | To Gupta & Company A/c |
| 20,000 | Jan.26 | By Loss by Accident A/c |
| 10,000 |
Jan.08 | To Cash A/c |
| 8,000 | Jan.31 | By Balance c/d |
| 18,000 |
|
|
|
|
|
|
|
|
|
|
| 28,000 |
|
|
| 28,000 |
Feb.01 | By Balance b/d |
| 18,000 |
|
|
|
|
Capital Account | |||||||
Dr. |
| Cr. | |||||
Date | Particulars | J.F. | Amount (Rs) | Date | Particulars | J.F. | Amount (Rs) |
2018 |
|
|
| 2018 |
|
|
|
Jan.31 | To Balance c/d |
| 1,00,000 | Jan.01 | By Cash A/c |
| 1,00,000 |
|
|
|
|
|
|
|
|
|
|
| 1,00,000 |
|
|
| 1,00,000 |
|
|
|
| Feb.01 | By Balance b/d |
| 1,00,000 |
Sales Account | |||||||
Dr. |
| Cr. | |||||
Date | Particulars | J.F. | Amount (Rs) | Date | Particulars | J.F. | Amount (Rs) |
2018 |
|
|
| 2018 |
|
|
|
Jan.31 | To Balance c/d |
| 24,000 | Jan.05 | By Cash A/c |
| 5,000 |
|
|
|
| Jan.10 | By Ahmed & Company A/c |
| 10,000 |
|
|
|
| Jan.25 | By Cash A/c |
| 9,000 |
|
|
|
|
|
|
|
|
|
|
| 24,000 |
|
|
| 24,000 |
|
|
|
| Feb.01 | By Balance b/d |
| 24,000 |
Gupta & Company | |||||||
Dr. |
| Cr. | |||||
Date | Particulars | J.F. | Amount (Rs) | Date | Particulars | J.F. | Amount (Rs) |
2018 |
|
|
| 2018 |
|
|
|
Jan.29 | To Bank A/c |
| 18,000 | Jan.03 | By Purchases A/c |
| 20,000 |
Jan.29 | To Discount Received A/c |
| 2,000 | Jan.03 | By Input IGST A/c |
| 2,400 |
Jan.29 | To Balance c/d |
| 2,400 |
|
|
|
|
|
|
| 22,400 |
|
|
| 22,400 |
|
|
|
|
|
|
|
|
Ahmed & Company Account | |||||||
Dr. |
| Cr. | |||||
Date | Particulars | J.F. | Amount (Rs) | Date | Particulars | J.F. | Amount (Rs) |
2018 |
|
|
| 2018 |
|
|
|
Jan.10 | To Sales A/c |
| 10,000 | Jan.16 | By Sales returns A/c |
| 2,000 |
Jan.10 | To Output IGST A/c |
| 1,200 | Jan.16 | By Output IGST A/c | 240 | |
Jan.19 | By Insurance claim A/c |
| 1,000 | ||||
|
|
|
| Jan.28 | By Bank A/c |
| 7,000 |
|
|
|
| Jan.28 | By Discount Allowed A/c |
| 960 |
|
|
|
|
|
|
|
|
|
|
| 11,200 |
|
|
| 11,200 |
|
|
|
|
|
|
|
|
Bank Account | |||||||
Dr. |
| Cr. | |||||
Date | Particulars | J.F. | Amount (Rs) | Date | Particulars | J.F. | Amount (Rs) |
2018 |
|
|
| 2018 |
|
|
|
Jan.11 | To Cash A/c |
| 50,000 | Jan.22 | By Rent A/c |
| 2,240 |
Jan.28 | To Ahmed & Co A/c |
| 7,000 | Jan.24 | By Cash A/c |
| 20,000 |
|
|
|
| Jan.27 | By Advertisement A/c |
| 5,600 |
|
|
|
| Jan.29 | By Gupta & Co A/c |
| 18,000 |
|
|
|
| Jan.31 | By Balance c/d |
| 11,160 |
|
|
|
|
|
|
|
|
|
|
| 57,000 |
|
|
| 57,000 |
Feb.01 | Balance b/d |
| 11,160 |
|
|
|
|
Computers Account | |||||||
Dr. |
| Cr. | |||||
Date | Particulars | J.F. | Amount (Rs) | Date | Particulars | J.F. | Amount (Rs) |
2018 |
|
|
| 2018 |
|
|
|
Jan.13 | To Cash A/c |
| 20,000 | Jan.31 | By Balance c/d |
| 20,000 |
|
|
|
|
|
|
|
|
|
|
| 20,000 |
|
|
| 20,000 |
Feb.01 | To Balance b/d |
| 20,000 |
|
|
|
|
Loan Account | |||||||
Dr. |
| Cr. | |||||
Date | Particulars | J.F. | Amount (Rs) | Date | Particulars | J.F. | Amount (Rs) |
2018 |
|
|
| 2018 |
|
|
|
Jan.31 | To Balance c/d |
| 70,000 | Jan.15 | By Cash A/c |
| 70,000 |
|
|
|
|
|
|
|
|
|
|
| 70,000 |
|
|
| 70,000 |
|
|
|
| Feb.01 | By Balance b/d |
| 70,000 |
Insurance Claim Account | |||||||
Dr. |
| Cr. | |||||
Date | Particulars | J.F. | Amount (Rs) | Date | Particulars | J.F. | Amount (Rs) |
2018 |
|
|
| 2018 |
|
|
|
Jan.19 | To Ahmed & Co A/c |
| 1,000 | Jan.31 | By Balance c/d |
| 1,000 |
|
|
|
|
|
|
|
|
|
|
| 1,000 |
|
|
| 1,000 |
Feb.01 | To Balance b/d |
| 1,000 |
|
|
|
|
Rent Account | |||||||
Dr. |
| Cr. | |||||
Date | Particulars | J.F. | Amount (Rs) | Date | Particulars | J.F. | Amount (Rs) |
2018 |
|
|
| 2018 |
|
|
|
Jan.22 | To Bank A/c |
| 2,000 | Jan.31 | By Balance c/d |
| 2,000 |
|
|
|
|
|
|
|
|
|
|
| 2,000 |
|
|
| 2,000 |
Feb.01 | To Balance b/d |
| 2,000 |
|
|
|
|
Loss by Accident Account | |||||||
Dr. |
| Cr. | |||||
Date | Particulars | J.F. | Amount (Rs) | Date | Particulars | J.F. | Amount (Rs) |
2018 |
|
|
| 2018 |
|
|
|
Jan.26 | To Purchases A/c |
| 10,000 | Jan.31 | By Balance c/d |
| 11,200 |
Jan.26 | To Input IGST A/c |
| 1,200 |
|
|
|
|
|
|
| 11,200 |