ACCOUNTING AND TAXATION: CREATION OF LEDGERS

01.

Mr. Ramu has the following transactions in the month of July.

Record them into the journal and show postings in the ledger and balance the accounts.

July 1st :

1st :

2nd :

3rd :

4th :

5th :

6th :

7th :

8th :

9th :

10th :

11th :

12th :

13th :

14th :

15th :

16th :

17th :

19th :

20th :

Ramu started business with a capital of Rs. 75,000

Purchased goods from Manu on credit Rs. 25,000

Sold goods to Sonu Rs.20,000

Purchased goods from Meenu for cash Rs. 15,000

Sold goods to Tanu for cash Rs. 16,000

Goods retuned to Manu Rs. 2,000

Bought furniture for Rs.15,000

Bought goods from Zenu Rs. 12,000

Cash paid to Manu Rs. 10,000

Sold goods to Jane Rs. 13,500

Goods returned from Sonu Rs. 3,000

Cash received from Jane Rs. 5,500

Goods taken by Ramu for domestic use Rs. 3,000

Returned Goods to Zenu Rs. 1,000

Cash received from Sonu Rs. 12,000

Bought machinery for Rs. 18,000

Sold part of the furniture for Rs. 1,000

Cash paid for the purchase of bicycle for Ramu’s son Rs. 1,500

Cash sales Rs. 15,000

Cash purchases Rs.13,500

Journal in the books of Mr. Ramu for the period from July 1st, 2005 to July 30th, 2005
Date	V/R No.	Particulars		L/F	Debit Amount (in Rs)	Credit Amount (in Rs)
July 1st	–	Cash a/c To Capital a/c [Being the amount received from Mr. Ramu, the proprietor as his capital contribution vide receipt no:___ dated:__]	Dr	– –	75,000	75,000
July 1st	–	Goods/Stock a/c To Manu a/c [Being the value of stock purchased from Mr. Manu vide bill no:___ dated:__ ]	Dr	– –	25,000	25,000
July 2nd	–	Sonu a/c To Goods/Stock a/c [Being the value of stock sold to Mr.Sonu vide bill no:___ dated:__ ]	Dr	– –	20,000	20,000
July 3rd	–	Goods/Stock a/c To Meenu a/c [Being the value of stock purchased from Mr.Meenu on credit vide bill no:___ dated:__ ]	Dr	– –	15,000	15,000
July 4th	–	Cash a/c To Goods/Stock a/c [Being the value of stock sold to Mr. Tanu for cash vide receipt no:___ dated:__ ]	Dr	– –	16,000	16,000
July 5th	–	Manu a/c To Goods/Stock a/c [Being the value of stock returned to Mr. Manu vide bill no:___ dated:__ ]	Dr	– –	2,000	2,000
July 6th	–	Furniture a/c To Cash a/c [Being the value of furniture purchased from M/s ___vide bill no:___ dated:__ ]	Dr	– –	15,000	15,000
July 7th	–	Goods/Stock a/c To Zenu a/c [Being the value of stock Purchased from Mr. Zenu vide bill no:___ dated:__ ]	Dr	– –	12,000	12,000
July 8th	–	Manu a/c To Cash a/c [Being the amount paid to Mr. Manu vide vocher no:___ dated:__ ]	Dr	– –	10,000	10,000
July 9th	–	Jane a/c To Goods/Stock a/c [Being the value of stock Sold to Ms.Zane vide bill no:___ dated:__ ]	Dr	– –	13,500	13,500
July 10th	–	Goods/Stock a/c To Sonu a/c [Being the value of stock returned from Mr. Sonu vide bill no:___ dated:__ ]	Dr	– –	3,000	3,000
July 11th	–	Cash a/c To Jane a/c [Being the amount of cash received from Ms. Jane vide cash receipt no:___ dated:__ ]	Dr	– –	5,500	5,500
July 12th	–	Drawings a/c To Good/stock a/c [Being the amount of stock taken by Ramu for domestic use vide bill no:___ dated:__ ]	Dr	– –	3,000	3,000
July 13th	–	Zenu a/c To Goods/stock a/c [Being the amount of stock returned to Mr. Zenu vide bill no:___ dated:__ ]	Dr	– –	1,000	1,000
July 14th	–	Cash a/c To Sonu a/c [Being the amount of cash received from Mr. Sonu vide cash receipt no:___ dated:__ ]	Dr	– –	12,000	12,000
July 15th	–	Machinery a/c To Cash a/c [Being the amount paid for machinery purchased to M/s ____vide vocher no:___ dated:__ ]	Dr	– –	18,000	18,000
July 16th	–	Cash a/c To Furniture a/c [Being the amount received on sale of furniture vide cash receipt no:___ dated:__ ]	Dr	– –	1,000	1,000
July 17th	–	Drawings a/c To Cash a/c [Being the amount of cash paid for bicycle purchases for proprietor's son vide vocher no:___ dated:__ ]	Dr	– –	1,500	1,500
July 19th	–	Cash a/c To Goods/Stock a/c [Being the value of stock sold for cash vide receipt no:___ dated:__ ]	Dr	– –	15,000	15,000
July 20th	–	Goods/Stock a/c To Cash a/c [Being the value of stock Purchased for vide vocher no:___ dated:__ ]	Dr	– –	13,500	13,500

Cash a/c

Date	Particulars	J/F	Amount (in Rs)	Date	Particulars	J/F	Amount (in Rs)
01/07/05 04/07/05 11/07/05 14/07/05 16/07/05 19/07/05	To Capital a/c To Goods/Stock a/c To Jane a/c To Sonu To Furniture a/c To Goods/Stock a/c	– – – – – –	75,000 16,000 5,500 12,000 1,000 15,000	05/07/05 08/07/05 15/07/05 17/07/05 17/07/05	By Furniture a/c By Manu a/c By Machinery a/c By Drawings a/c By Goods/Stock a/c	– – – – –	15,000 10,000 18,000 1,500 13,500
	sub-total		1,24,500		sub-total		58,000
				30/07/05	By Balance c/d	–	66,500
	Total		1,24,500		Total		1,24,500
31/07/05	To Balance b/d	–	66,500

Capital a/c

Date	Particulars	J/F	Amount (in Rs)	Date	Particulars	J/F	Amount (in Rs)
				01/07/05	By Cash a/c	–	75,000
	sub-total		0		sub-total		75,000
30/07/05	To Balance c/d	–	75,000
	Total		75,000		Total		75,000
				31/07/05	By Balance b/d	–	75,000

Goods/Stock a/c

Date	Particulars	J/F	Amount (in Rs)	Date	Particulars	J/F	Amount (in Rs)
01/07/05 03/07/05 07/07/05 10/07/05 20/07/05	To Manu a/c To Meenu a/c To Zenu a/c To Sonu a/c To Cash a/c	– – – – –	25,000 15,000 12,000 3,000 13,500	02/07/05 04/07/05 05/07/05 05/07/05 05/07/05 13/07/05 19/07/05	By Sonu a/c By Goods /stock a/c By Manu a/c By Zane a/c By Drawings a/c By Zenu a/c By Cash a/c	– – – – – – –	15,000 16,000 2,000 13,500 3,000 1,000 15,000 65,500 3,000 68,500
	sub-total		68,500		sub-total		65,500
		–		30/07/05	To Balance c/d	–	3,000
	Total		68,500		Total		68,500
31/07/05	To Balance b/d	–	3,000

Manu a/c

Date	Particulars	J/F	Amount (in Rs)	Date	Particulars	J/F	Amount (in Rs)
05/07/05 o8/07/05	To Goods/Stock a/c To Cash a/c	– –	2,000 10,000	01/07/05	By Goods/Stock a/c	–	25,000
	sub-total		12,000		sub-total		25,000
30/07/05	To Balance c/d	–	13,000
	Total		25,000		Total		25,000
				31/07/05	By Balance b/d	–	13,000;

Sonu a/c

Date	Particulars	J/F	Amount (in Rs)	Date	Particulars	J/F	Amount (in Rs)
02/07/05	To Goods/Stock a/c	–	15,000	10/07/05 14/07/05	By Goods/stock a/c By Cash a/c	– –	3,000 12,000
	Total		15,000		Total		15,000

Meenu a/c

Date	Particulars	J/F	Amount (in Rs)	Date	Particulars	J/F	Amount (in Rs)
				03/07/05	By Goods/Stock a/c	–	15,000
	sub-total		0		sub-total		15,000
30/07/05	To Balance c/d	–	15,000
	Total		15,000		Total		15,000
				31/07/05	By Balance b/d	–	15,000;

Furniture a/c

Date	Particulars	J/F	Amount (in Rs)	Date	Particulars	J/F	Amount (in Rs)
06/07/05	To Cash a/c	–	15,000	14/07/05	By Cash a/c	–	1,000
	sub-total		15,000		sub-total		1,000
				30/07/05	By Balance c/d	–	14,000
	Total		15,000		Total		15,000
31/07/05	To Balance b/d	–	14,000

Zenu a/c

Date	Particulars	J/F	Amount (in Rs)	Date	Particulars	J/F	Amount (in Rs)
13/07/05	To Goods/Stock a/c	–	1,000	07/07/05	By Goods/Stock a/c	–	12,000
	sub-total		1,000		sub-total		12,000
30/07/05	To Balance c/d	–	11,000
	Total		12,000		Total		12,000
				31/07/05	By Balance b/d	–	11,000;

Jane a/c

Date	Particulars	J/F	Amount (in Rs)	Date	Particulars	J/F	Amount (in Rs)
09/07/05	To Goods/stock a/c	–	13,500	11/07/05	By Cash a/c	–	5,500
	sub-total		13,500		sub-total		5,500
				30/07/05	By Balance c/d	–	8,000
	Total		13,500		Total		13,500
31/07/05	To Balance b/d	–	8,000

Drawings a/c

Date	Particulars	J/F	Amount (in Rs)	Date	Particulars	J/F	Amount (in Rs)
13/07/05 17/07/05	To Goods/stock a/c To Cash a/c	– –	3,000 1,500
	sub-total		4,500		sub-total		0
				30/07/05	By Balance c/d	–	4,500
	Total		4,500		Total		4,500
31/07/05	To Balance b/d	–	4,500

Machinery a/c

Date	Particulars	J/F	Amount (in Rs)	Date	Particulars	J/F	Amount (in Rs)
15/07/05	To Cash a/c	–	3,000 18,000
	sub-total		18,000		sub-total		0
				30/07/05	By Balance c/d	–	18,000
	Total		18,000		Total		18,000
31/07/05	To Balance b/d	–	18,000

02.

Journalise the following transactions in the books of Moon and post them into the ledger for the month of August

Aug 10th :

11th :

12th :

13th :

14th:

16th :

17th :

18th :

19th :

20th :

21st :

22nd :

23rd :

24th :

25th :

26th :

27th :

28th :

29th :

30th :

Moon commenced business with a capital of Rs. 1,50,000

Cash deposited into bank Rs. 50,000

Bought equipment for Rs. 15,000

Bought goods worth Rs. 20,000 from Star and payment made by cheque

Sold goods to Sun for Rs. 15,000 and payment received through cheque

Paid rent by cheque Rs. 5,000

Took loan from Mr. Storm Rs. 25,000

Received commission from Mr. Air by cheque Rs. 5,000

Wages paid Rs. 15,000

Withdrew from bank for personal use Rs. 3,000

Withdrew from bank for office use Rs. 10,000

Bought goods for Rs. 25,000

Cash paid into bank Rs. 30,000

Interest paid through cheque Rs. 2,000

Gave loan to Mr.Wind Rs. 10,000

Amount paid to Mr. Storm on loan account Rs. 15,000

Salary paid to Manager Mr. Liquid Rs. 5,000

Postage paid Rs. 1,000

Received cheque from Mr. Wind on loan account Rs. 3,000

Sold part of the equipment for Rs. 2,000

Journal in the books of Mr. Moon for the period from August 10th, 2005 to August 30th, 2005
Date	V/R No.	Particulars		L/F	Debit Amount (in Rs)	Credit Amount (in Rs)
August 10th	–	Cash a/c To Capital a/c [Being the amount received from Mr. Moon, the proprietor as his capital contribution vide receipt no:__ dated:__ ]	Dr	– –	1,50,000	1,50,000
August 11th	–	Bank a/c To Cash a/c [Being the amount of cash deposited into bank vide bill no:___ dated:__ ]	Dr	– –	50,000	50,000
August 12th	–	Equipment a/c To Cash a/c [Being the value of equipment purchased from M/s___ for cash vide bill no:___ dated:__ ]	Dr	– –	15,000	15,000
August 13th	–	Goods/Stock a/c To Bank a/c [Being the payment made for stock purchased vide Cheque no:__ dated:__ ]	Dr	– –	20,000	20,000
August 14th	–	Bank a/c To Goods/Stock a/c [Being the amount received for stock sold to Mr. Sun vide Cheque no:__ dated:__ ]	Dr	– –	15,000	15,000
August 16th	–	Rent a/c To Bank a/c [Being the amount paid for rent vide vocher no:___ dated:__ ]	Dr	– –	5,000	5,000
August 17th	–	Cash a/c To Loan from Storm a/c [Being the cash received from Mr. Storm as loan vide receipt no:___ dated:__ ]	Dr	– –	25,000	25,000
August 18th	–	Bank a/c To Commission a/c [Being the amount received for commission vide cheque no:__ dated:__]	Dr	– –	5,000	5,000
August 19th	–	Wages a/c To Cash a/c [Being the amount paid for wages vide vocher no:___ dated:__ ]	Dr	– –	15,000	15,000
August 20th	–	Drawings a/c To Bank a/c [Being the amount withdrawn from bank for personal use vide cheque no:___ dated:__ ]	Dr	– –	3,000	3,000
August 21st	–	Cash a/c To Bank a/c [Being the amount withdrawn from bank for office purpose vide cheque no:___ dated:__ ]	Dr	– –	10,000	10,000
August 22nd	–	Goods/Stock a/c To Cash a/c [Being the amount of cash paid for stock purchases vide vocher no:___ dated:__ ]	Dr	– –	25,000	25,000
August 23rd	–	Bank a/c To Cash a/c [Being the amount deposited into bank vide vocher no:___ dated:__ ]	Dr	– –	30,000	30,000
August 24th	–	Interest a/c To Bank a/c [Being the amount of interest paid vide cheque no:___ dated:__ ]	Dr	– –	2,000	2,000
August 25th	–	Loan to Mr. Wind a/c To Cash a/c [Being the amount of cash given to Mr. Wind as loan vide vocher no:___ dated:__ ]	Dr	– –	10,000	10,000
August 26th	–	Loan from Storm a/c To Cash a/c [Being the amount paid to Mr. Storm for repayment of loan vide vocher no:___ dated:__ ]	Dr	– –	15,000	15,000
August 27th	–	Salary a/c To Cash a/c [Being the amount paid for salary to Mr. Liquid vide vocher no:___ dated:__ ]	Dr	– –	5,000	5,000
August 28th	–	Postage a/c To Cash a/c [Being the amount paid for purchase of postage vide vocher no:___ dated:__ ]	Dr	– –	1,000	1,000
August 29th	–	Bank a/c To Loan to Mr. Wind a/c [Being the Cheque no:___ date___ received from Mr. Wind for repayment of loan]	Dr	– –	3,000	3,000
August 30th	–	Cash a/c To Equipment a/c [Being the amount received on sale of equipment vide receipt no:___ dated:__ ]	Dr	– –	2,000	2,000

Cash a/c

Date	Particulars	J/F	Amount (in Rs)	Date	Particulars	J/F	Amount (in Rs)
10/08/05 17/08/05 21/08/05 30/08/05	To Capital a/c To loan from storm a/c To Bank a/c To Equipment	– – – –	15,000 25,000 10,000 2,000	11/08/05 12/08/05 19/08/05 22/08/05 23/08/05 25/08/05 26/08/05 27/08/05 28/08/05 30/08/05	By Bank a/c By Equipment a/c By Wages a/c By Goods/stock a/c By Bank a/c By Loan to Wind a/c By Loan from storm a/c By Salaries a/c By Postage a/c By Balance c/d	– – – – – – – – – –	50,000 15,000 15,000 25,000 30,000 10,000 15,000 5,000 1,000 21,000
	Total		1,87,000		Total		1,87,000
31/07/05	To Balance b/d	–	21,000

Capital a/c

Date	Particulars	J/F	Amount (in Rs)	Date	Particulars	J/F	Amount (in Rs)
30/08/05	To Balance c/d	–	1,50,000	10/08/05	By Cash a/c	–	1,50,000
			1,50,000				1,50,000
				31/08/05	By Balance b/d	–	1,50,000

Bank a/c

Date	Particulars	J/F	Amount (in Rs)	Date	Particulars	J/F	Amount (in Rs)
11/08/05 14/08/05 18/08/05 23/08/05 29/08/05	T0 Cash a/c To Goods/Stock a/c To Commission a/c To Cash To Loan to Mr wind a/c	– – – – –	50,000 15,000 5,000 30,000 3,000	13/08/05 16/08/05 20/08/05 21/08/05 24/08/05 30/08/05	By Goods/Stock a/c By Rent a/c By Drawings a/c By Cash a/c By Interest a/c By Balance c/d	– – – – – –	20,000 5,000 3,000 10,000 2,000 63,000
			1,03,000				1,03,000
31/08/05	To Balance b/d	–	63,000

Equipment a/c

Date	Particulars	J/F	Amount (in Rs)	Date	Particulars	J/F	Amount (in Rs)
12/08/05	To Cash a/c	–	15,000	30/08/05 30/08/05	By Cash a/c By Balance c/d	– –	2,000 13,000
			15,000				15,000
31/08/05	To Balance b/d	–	13,000

Goods/Stock a/c

Date	Particulars	J/F	Amount (in Rs)	Date	Particulars	J/F	Amount (in Rs)
13/08/05 22/08/05	To Bank a/c To Cash a/c	– –	20,000 25,000	14/08/05 30/08/05	By Bank a/c By Balance c/d	– –	15,000 30,000
			45,000				45,000
31/08/05	To Balance b/d	–	30,000

Rent a/c

Date	Particulars	J/F	Amount (in Rs)	Date	Particulars	J/F	Amount (in Rs)
16/08/05	To Bank a/c	–	5,000	30/08/05	By Balance c/d	–	5,000
			5,000				5,000
31/08/05	To Balance b/d	–	5,000

Loan from Storm a/c

Date	Particulars	J/F	Amount (in Rs)	Date	Particulars	J/F	Amount (in Rs)
26/08/05 30/08/05	To Cash a/c To Balance c/d	– –	15,000 10,000	17/08/05	By Cash a/c	–	25,000
			25,000				25,000
				31/08/05	By Balance b/d	–	10,000

Commission a/c

Date	Particulars	J/F	Amount (in Rs)	Date	Particulars	J/F	Amount (in Rs)
30/08/05	To Balance c/d	–	5,000	18/08/05	By Bank a/c	–	5,000
			5,000				5,000
				31/08/05	By Balance b/d	–	5,000

Wages a/c

Date	Particulars	J/F	Amount (in Rs)	Date	Particulars	J/F	Amount (in Rs)
19/08/05	To Cash a/c	–	15,000	30/08/05	By Balance c/d	–	15,000
			15,000				15,000
31/08/05	To Balance b/d	–	15,000

Drawings a/c

Date	Particulars	J/F	Amount (in Rs)	Date	Particulars	J/F	Amount (in Rs)
20/08/05	To Bank a/c	–	3,000	30/08/05	By Balance c/d	–	3,000
			3,000				3,000
31/08/05	To Balance b/d	–	3,000

Interest a/c

Date	Particulars	J/F	Amount (in Rs)	Date	Particulars	J/F	Amount (in Rs)
24/08/05	To Bank a/c	–	2,000	30/08/05	By Balance c/d	–	2,000
			2,000				2,000
31/08/05	To Balance b/d	–	2,000

Loan to Wind a/c

Date	Particulars	J/F	Amount (in Rs)	Date	Particulars	J/F	Amount (in Rs)
25/08/05	To Cash a/c	–	10,000	29/08/05 30/08/05	By Bank By Balance c/d	– –	3,000 7,000
			10,000				10,000
31/08/05	To Balance b/d	–	7,000

Salaries a/c

Date	Particulars	J/F	Amount (in Rs)	Date	Particulars	J/F	Amount (in Rs)
27/08/05	To Cash a/c	–	5,000	30/08/05	By Balance c/d	–	5,000
			5,000				5,000
31/08/05	To Balance b/d	–	5,000

Postage a/c

Date	Particulars	J/F	Amount (in Rs)	Date	Particulars	J/F	Amount (in Rs)
28/08/05	To Cash a/c	–	1,000	30/08/05	By Balance c/d	–	1,000
			1,000				1,000
31/08/05	To Balance b/d	–	1,000

ACCOUNTING AND TAXATION

Pages

Thursday, June 19, 2014

CREATION OF LEDGERS

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