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Enter the following transactions in subsidiary books, post them into Ledger and prepare a Trial Balance:
The following balances existed in Sunil Bros. books on April 1, 2017:
Assets : Cash in hand ₹ 27,500; Bank Balance ₹ 40,000; Debtors : Ashok ₹ 18,000, Bahadur ₹ 25,000, Charu ₹ 30,000; Stock ₹ 1,60,000 and Furniture ₹ 40,000.
Liabilities : Creditors : Dinesh ₹ 20,000 and Ekta ₹ 15,000.
2017
April 1 Cash Sales ₹ 18,000.
2 Deposited into Bank ₹ 20,000.
3 Purchased from Dinesh :
300 metres Cotton @ ₹ 60 per metre
200 metres Silk @ ₹ 100 per metre
5 Cheque issued to Dinesh for ₹ 25,000.
6 Accepted a bill at one month for ₹ 15,000 drawn by Dinesh.
8 Sold to Ashok :
400 metres Cotton @ ₹ 80 per metre
250 metres Silk @ ₹ 140 per metre
10 Returned by Ashok 50 metres Silk.
12 Received Cash ₹ 8,000 and a Cheque for ₹ 40,000 from Ashok. Cheque was immediately sent to Bank.
13 Received a B/R from Bahadur for ₹ 20,000 at one month.
15 Accepted a bill at two months drawn by Ekta for the amount due to her.
16 Purchased a Computer for office use from Shiva Ltd. for ₹ 45,000 on Credit.
18 Cash purchases ₹ 10,000.
19 Received full payment from Charu by cheque, sent it to Bank. Discount allowed 2%.
20 Issued a cheque to Dinesh in full payment of his account after deducting 1% discount.
22 Settled the account of Shiva Ltd. by a cheque.
24 Proprietor took away goods worth ₹ 5,000 and Cash ₹ 6,000.
25 Purchased from Ganesh 200 metres Cotton @ ₹ 70 per metre subject to trade discount of 5%.
27 Paid Rent ₹ 3,000 and Salaries ₹ 8,000.
30 Interest allowed by bank ₹ 600.

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Solution

Cash Book
Dr.
Date Particulars L.F. Cash (Rs) Bank (Rs) Date Particulars L.F. Cash (Rs) Bank (Rs)
2017 2017
April 01 Balance b/d 27,500 40,000 April 02 Bank A/c C 20,000 –
April 01 Sales A/c 18,000 – April 05 Dinesh’s A/c – 25,000
April 02 Cash A/c C – 20,000 April 18 Purchases A/c 10,000 –
April 12 Ashok’s A/c 8,000 40,000 April 20 Dinesh’s A/c – 17,820
April 19 Charu’s A/c – 29,400 April 22 Shiva Ltd. – 45,000
April 30 Interest A/c – 600 April 24 Drawings A/c 6,000 –
April 27 Rent A/c 3,000 –
April 27 Salaries A/c 8,000 –
April 30 Balance c/d 6,500 42,180
53,500 1,30,000 53,500 1,30,000
May 01 Balance b/d 6,500 42,180
Purchases Book
Date Particulars L.F. Details (Rs) Amount (Rs)
2017
April 03 Dinesh
300 metres Cotton @Rs 60 per metre 18,000
200 metres Silk @Rs 100 per metre 20,000 38,000
April 25 Ganesh
200 metres Cotton @Rs 70 per metre 14,000
Less: 5% Trade Discount 700 13,300
April 30 Purchases A/c Dr. 51,300
Sales Book
Date Particulars L.F. Details (Rs) Amount (Rs)
2017
April 08 Ashok
400 metres Cotton @Rs 80 per metre 32,000
250 metres Silk @Rs 140 per metre 35,000 67,000
April 30 Sales A/c Cr. 67,000
Sales Return Book
Date Particulars Credit Note No. L.F. Details (Rs) Amount (Rs)
2017
April 10 Ashok
50 metres Silk @Rs 140 per metre 7,000 7,000
April 30 Sales Return A/c Dr. 7,000
Journal
Date Particulars L.F. Debit Amount (Rs) Credit Amount (Rs)
2017
April 01 Cash in hand A/c Dr. 27,500
Bank A/c Dr. 40,000
Stock A/c Dr. 1,60,000
Ashok’s A/c Dr. 18,000
Bahadur’s A/c Dr. 25,000
Charu’s A/c Dr. 30,000
Furniture Dr. 40,000
To Dinesh’s A/c 20,000
To Ekta’s A/c 15,000
To Capital A/c (Balancing Figure) 3,05,500
(Balances of previous year brought forward)
April 06 Dinesh’s A/c Dr. 15,000
To Bills Payable A/c 15,000
(Acceptance given for bill drawn by Dinesh)
April 13 Bills Receivable A/c Dr. 20,000
To Bahadur’s A/c 20,000
(Bills receivable received from one of our debtor, Bahadur)
April 15 Ekta’s A/c Dr. 15,000
To Bills Payable A/c 15,000
(Acceptance given for bill drawn by Ekta)
April 16 Computer A/c Dr. 45,000
To Shiva Ltd. 45,000
(Computer purchased on credit)
April 19 Discount Allowed A/c Dr. 600
To Charu 600
(Discount of 2% allowed to Charu)
April 20 Dinesh Dr. 180
To Discount Received A/c 180
(Discount of 1% received from Dinesh)
April 24 Drawings A/c Dr. 5,000
To Purchases A/c 5,000
(Goods withdrawn by proprietor)
TOTAL 4,41,280 4,41,280
Sales Account
Dr. Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017 2017
April 30 Balance c/d 85,000 April 01 Cash A/c 18,000
April 30 Sundries as per Sales Book 67,000
85,000 85,000
2017
May 01 Balance b/d 85,000
Ashok’s Account
Dr. Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017 2017
April 01 Balance b/d 18,000 April 12 Cash A/c 8,000
April 08 Sales A/c 67,000 April 12 Bank A/c 40,000
April 10 Sales Return A/c 7,000
April 30 Balance c/d 30,000
85,000 85,000
2017
May 01 Balance b/d 30,000
Charu’s Account
Dr. Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017 2017
April 01 Balance b/d 30,000 April 19 Bank A/c 29,400
April 19 Discount Allowed A/c 600
30,000 30,000
Interest Account
Dr. Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017 2017
April 30 Balance c/d 600 April 30 Bank A/c 600
600 600
2017
May 01 Balance b/d 600
Dinesh’s Account
Dr. Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017 2017
April 05 Bank A/c 25,000 April 01 Balance b/d 20,000
April 06 Bills Payable A/c 15,000 April 03 Purchases A/c 38,000
April 20 Bank A/c 17,820
April 20 Discount Received A/c 180
58,000 58,000
Shiva Ltd. Account
Dr. Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017 2017
April 22 Bank A/c 45,000 April 16 Computer A/c 45,000
45,000 45,000
Purchases Account
Dr. Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017 2017
April 18 Cash A/c 10,000 April 24 Drawings A/c 5,000
April 30 Sundries as per Purchases Book 51,300 April 30 Balance c/d 56,300
61,300 61,300
2017
May 01 Balance b/d 56,300
Drawings Account
Dr. Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017 2017
April 24 Cash A/c 6,000 April 30 Balance c/d 11,000
April 24 Purchases A/c 5,000
11,000 11,000
2017
May 01 Balance b/d 11,000
Rent Account
Dr. Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017 2017
April 27 Cash A/c 3,000 April 30 Balance c/d 3,000
3,000 3,000
2017
May 01 Balance b/d 3,000
Ganesh’s Account
Dr. Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017 2017
April 30 Balance c/d 13,300 April 25 Purchases A/c 13,300
13,300 13,300
2017
May 01 Balance b/d 13,300
Bahadur’s Account
Dr. Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017 2017
April 01 Balance b/d 25,000 April 13 Bills Receivable A/c 20,000
April 30 Balance c/d 5,000
25,000 25,000
2017
May 01 Balance b/d 5,000
Salaries Account
Dr. Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017 2017
April 27 Cash A/c 8,000 April 30 Balance c/d 8,000
8,000 8,000
2017
May 01 Balance b/d 8,000
Sales Return Account
Dr. Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017 2017
April 30 Sundries as per Sales Return Book 7,000 April 30 Balance c/d 7,000
7,000 7,000
2017
May 01 Balance b/d 7,000
Stock Account
Dr. Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017 2017
April 01 Balance b/d 1,60,000 April 30 Balance c/d 1,60,000
1,60,000 1,60,000
2017
May 01 Balance b/d 1,60,000
Furniture Account
Dr. Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017 2017
April 01 Balance b/d 40,000 April 30 Balance c/d 40,000
40,000 40,000
2017
May 01 Balance b/d 40,000
Ekta’s Account
Dr. Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017 2017
April 15 Bills Payable A/c 15,000 April 30 Balance b/d 15,000
15,000 15,000
Bills Payable Account
Dr. Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017 2017
April 30 Balance c/d 30,000 April 06 Dinesh’s A/c 15,000
April 15 Ekta’s A/c 15,000
30,000 30,000
2017
May 01 Balance b/d 30,000
Computer Account
Dr. Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017 2017
April 16 Shiva Ltd. 45,000 April 30 Balance c/d 45,000
45,000 45,000
2017
May 01 Balance b/d 45,000
Discount Allowed Account
Dr. Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017 2017
April 19 Charu’s A/c 600 April 30 Balance c/d 600
600 600
2017
May 01 Balance b/d 600
Bills Receivable Account
Dr. Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017 2017
April 13 Bhadur’s A/c 20,000 April 30 Balance c/d 20,000
20,000 20,000
2017
May 01 Balance b/d 20,000
Capital Account
Dr. Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017 2017
April 30 Balance c/d 3,05,500 April 01 Balance b/d 3,05,500
3,05,500 3,05,500
2017
May 01 Balance b/d 3,05,000
Discount Received Account
Dr. Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017 2017
April 30 Balance c/d 180 April 20 Dinesh’s A/c 180
180 180
2017
May 01 Balance b/d 180
Trial Balance
as on April 30, 2017
Name of Accounts L.F Debit
Balances Amount
(Rs)		 Credit Balances Amount (Rs)
Cash A/c 6,500 –
Bank A/c 42,180 –
Sales A/c – 85,000
Ashok’s A/c 30,000 –
Interest A/c – 600
Purchases A/c 56,300 –
Drawings A/c 11,000 –
Rent A/c 3,000 –
Salaries A/c 8,000 –
Ganesh’s A/c – 13,300
Sales Return A/c 7,000 –
Bahadur’s A/c 5,000 –
Stock A/c 1,60,000 –
Furniture A/c 40,000 –
Bills Receivable A/c 20,000 –
Bills Payable A/c – 30,000
Computer A/c 45,000 –
Capital A/c – 3,05,500
Discount Allowed 600 –
Discount Received – 180
TOTAL 4,34,580 4,34,580

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Q. Record the following transactions of M/s Mahipal Bros. in Proper Subsidiary Books, post them into the Ledger and take out a Trial Balance:
2017
Jan. 1 Commenced business with Cash ₹ 2,00,000.
2 Deposited into U.T.I Bank ₹ 1,75,000.
4 Purchased goods from Dilip for ₹ 40,000. Trade Discount 20%.
6 Gave a cheque to Dilip for ₹ 16,800 and discount allowed by him ₹ 200.
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10 Accepted a bill at 2 months for ₹ 15,000 drawn by Dilip.
11 Bought goods from Suresh ₹ 75,000.
13 Paid to Suresh a Cheque for ₹ 58,800 after receiving discount of 2%.
15 Cash sales made to Jyoti Parshad ₹ 8,000.
16 Sold goods to Mohinder for ₹ 20,000.
17 Goods returned by Mohinder for ₹ 1,500.
18 Received from Mohinder ₹ 7,900 after allowing a discount of 1.25%.
20 Goods sold to Banerjee ₹ 50,000.
21 Deposited into Bank ₹ 20,000.
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Payment for both the items is made by Cheque.
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27 Goods returned by Anubhav ₹ 5,000.
27 Received full payment from Banerjee by Cheque, sent it to Bank, Discount allowed 2%.
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28 Paid for stationery ₹ 400 and for Postage ₹ 200.
31 Rent of proprietor's house paid by Cheque ₹ 2,500.
Q. Enter the following transactions in proper Subsidiary Books, post them into Ledger Accounts, balance the accounts and prepare a Trial Balance :
2017
Jan. 1 Assets : Cash in hand ₹ 20,000; Debtors : Sri Gopal ₹ 15,000, Poonam & Co. ₹ 30,000; Stock ₹ 1,75,000, Machinery ₹ 1,20,000; Furniture ₹ 40,000.
Liabilities: Bank Overdraft ₹ 33,000; Creditors : Niranjan Lal ₹ 24,000, Bombay Trading Co. ₹ 16,000.
Jan. 2 Purchased from Manohar Lal & Sons goods of the list price of ₹ 20,000 at 10% trade discount.
5 Returned to Manohar Lal & sons goods of the list price of ₹ 2,000.
10 Issued a Cheque to Manohar Lal & Sons in full settlement of their account.
12 Sold to Sri Gopal, goods worth ₹ 25,000.
15 Received Cash ₹ 10,000 and a Cheque for ₹ 8,000 from Sir Gopal. The Cheque was immediately sent to bank.
16 Withdrew for personal use : Cash ₹ 5,000 and goods ₹ 3,000.
17 Accepted a bill for 45 days drawn by Niranjan Lal for the amount due to him.
18 Acceptance received from Poonam & Co. for the amount due from them payable after 30 days.
19 Sold to Raghubir Brothers, goods valued ₹ 16,000.
20 Cash purchases ₹ 15,000.
22 Withdrew from bank fo office use ₹ 10,000.
23 Purchased from Bombay Trading Co., goods valued ₹ 24,000.
24 Sri Gopal returned goods worth ₹ 2,000.
25 Received from Raghubir Brothers ₹ 10,000.
27 Accepted a bill for ₹ 25,000 for 1 month drawn by Bombay Trading Co.
27 Paid Rent by Cheque ₹ 2,800.
Received Commission in Cash ₹ 800.
31 Paid salaries ₹ 5,000.
Q. Pass Journal entries for the following transactions:−
1. Purchased Machinery for ₹ 20,000 and paid ₹ 200 for its carriage.
2. Received a cheque fo ₹ 4,850 from X in full settlement of his account of ₹ 5,000. Cheque was immediately deposited into bank.
3. Received by cheque a first and final payment of 60 paise in a ₹ from Y who owed us ₹ 10,000.
4. Sold goods to Z for ₹ 10,000 at a trade discount of 20%. Next day a cheque was received from him after deducting 5% cash discount. Cheque was immediately deposited into Bank.
5. Goods costing ₹ 20,000 sold to Manoj at a profit of 20% on cost less 10% trade discount.
Q. Journalise the following transactions in the books of Prakash:

(i) Opened a current account with Punjab National Bank ₹ 1,00,000.
(ii) Received a cheque of ₹ 12,900 from Chandradev and allowed discount ₹ 300 to him. The cheque was deposited into Bank on the same day.
(iii) Purchased machinery for ₹ 1,00,000, payment made by cheque. Installation charge of machinery ₹ 6,000 paid in cash.
(iv) Purchased a horse for business for ₹ 20,000.
(v) Sold goods to Gokul at a list price of ₹ 4,000. Trade discount 10% and cash discount 5%. He paid the amount on the same day and availed the cash discount.
(vi) Purchased goods for ₹ 10,000 and paid ₹ 400 for carriage on these goods.
(vii) Additional cash introduced by the proprietor ₹ 40,000.
(viii) Purchased stationery ₹ 800 and postal stamps ₹ 100.
(ix) Withdrawn from bank ₹ 20,000.
(x) Received an order to supply goods of ₹ 40,000 from Manu and received ₹ 10,000 as an advance together with the order.
(xi) Cash ₹ 10,000 and goods worth ₹ 4,000 were stolen.
(xii) Purchased goods from Devendra for ₹ 40,000 and the payment was made by cheque.
(xiii) Sold 1/4th of the above goods at a profit of 25% on cash.
Q. Journalise the following transactions in the books of Shri Manoj, Kolkata and prepare Ledger Accounts.
Opening Debit Balances:
Cash in Hand ₹ 15,000; Cash at Bank ₹ 55,000; Stock ₹ 28,000; Debtors ₹ 25,000 (Sunil ₹ 5,000; Abhay ₹ 10,000 and Alok ​₹ 10,000); Fixed Assets : Computer and Printer ₹ 50,000; Furniture ₹ 10,000; Delivery Van ₹ 25,000.
Opening Credit Balances:
Bank Loan ₹ 90,000; Salaries Outstanding ₹ 15,000; Creditors ₹ 20,000; Bills Payable ₹ 10,000; Capital ₹ 73,000.
Transactions for the month of April, 2018 were :
(i) Purchased goods from M/s Prabhat Electricals ₹ 10,000 less 10% Trade Discount. Cheque was issued immediately and availed 2% Cash Discount on purchase price.
(ii) Cheque was received from Abhay for the balance allowing him discount of 2%*.
(iii) Cheque was received from Alok for the balance due* .
(iv) Sunil was unable to pay the full dues and offered to pay 75%, which was accepted. Cheque was duly received*.
(v) Gave goods costing ₹ 1,000 as charity. These goods were purchased in Kolkata.
(vi) In a competition held by the RWA where the shop is located an electric iron costing ₹ 500 was given as an award. It had been purchased from Prabhat Electricals, Delhi.
(vii) A debt of ₹ 10,000 that was written off as bad debt in the past was received*.
(viii) Salaries amounting to ₹ 15,000 provided in the books for the month of March, 2018 were paid through cheque*.
(ix) Sales for the month were: Cash Sales ₹ 15,00,000 (Intra-state) and Credit Sales ₹ 3,00,000 (Inter-state).
(x) Purchases for the month were: Cash Purchases ₹ 1,00,000 (Intra-state) and Credit Purchases (Inter-state) ₹ 9,00,000.
Cheques Received from Debtors ₹ 2,00,000; Deposited Cash ₹ 15,00,000.
(xi) Paid to creditors through cheques ₹ 8,90,000*.
(xii) Bank Loan repaid during the month ₹ 20,000*.
Inter-state transactions are subject to levy of IGST @ 12% and Intra-state transactions are subject to levy of CGST and SGST @ 6% each. GST is not levied on transactions marked with (*).
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