Question

From the following transactions Prepare necessary ledger accounts in the books of Mr. Joshi and balance the same.

2011 July	1	Started Business with Cash Rs 8,000.
	4	Purchased goods on credit from Mr. Desmukh Rs 3,000 at 10% T.D.
	6	Cash Sales Rs 4,000 at 5% C.D.
	10	Paid Rent Rs 900.
	15	Cash Purchases Rs 800.
	20	Credit sales to Mr. Kulkarni Rs 2,700.
	22	Paid cash to Mr. Deshmukh Rs 2,700.
	23 31	Received cash from Mr. Kulkarni Rs 1,000. Paid wages Rs 500.

Answer 1

Cash Account
Dr.				Cr.
Date	Particulars	J.F.	Amount (Rs)	Date	Particulars	J.F.	Amount (Rs)
July 2011				July 2011
1	Capital A/c		8,000	10	Rent A/c		900
6	Sales A/c		3,800	15	Purchases A/c		800
23	Kulkarni A/c		1,000	22	Deshmukh A/c		2,700
				31	Wages A/c		500
				31	Balance c/d		7,900
			12,800				12,800

Capital Account
Dr.	Cr.
Date		Particulars	J.F.	Amount (Rs)	Date	Particulars	J.F.	Amount (Rs)
July 2011					July 2011
31		Balance c/d		8,000	1	Cash A/c		8,000
				8,000				8,000

Purchases Account
Dr.	Cr.
Date		Particulars	J.F.	Amount (Rs)	Date	Particulars	J.F.	Amount (Rs)
July 2011					July 2011
4		Deshmukh A/c		2,700	31	Balance c/d		3,500
15		Cash A/c		800
				3,500				3,500

Sales Account
Dr.	Cr.
Date		Particulars	J.F.	Amount (Rs)	Date	Particulars	J.F.	Amount (Rs)
July 2011					July 2011
31		Balance c/d		6,000	6	By Cash A/c		3,800
					6	By Discount Allowed A/c		200
					20	By Kulkarni A/c		2,000
				6,000				6,000

Rent Account
Dr.	Cr.
Date		Particulars	J.F.	Amount (Rs)	Date	Particulars	J.F.	Amount (Rs)
July 2011					July 2011
10		Cash A/c		900	31	Balance c/d		900
				900				900

Deshmukh’s Account
Dr.	Cr.
Date		Particulars	J.F.	Amount (Rs)	Date	Particulars	J.F.	Amount (Rs)
July 2011					July 2011
22		Cash A/c		2,700	4	Purchases A/c		2,700
				2,700				2,700

Kulkarni’s Account
Dr.	Cr.
Date		Particulars	J.F.	Amount (Rs)	Date	Particulars	J.F.	Amount (Rs)
July 2011					July 2011
20		Sales A/c		2,000	23	Cash A/c		1,000
					31	Balance c/d		1,000
				2,000				2,000

Wages Account
Dr.	Cr.
Date		Particulars	J.F.	Amount (Rs)	Date	Particulars	J.F.	Amount (Rs)
July 2011					July 2011
31		Cash A/c		500	31	Balance c/d		500
				500				500

Discount Allowed Account
Dr.	Cr.
Date		Particulars	J.F.	Amount (Rs)	Date	Particulars	J.F.	Amount (Rs)
July 2011					July 2011
6		Sales A/c		200	31	Balance c/d		200
				200				200