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Module 2 assignments (1)

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7 views

Module 2 assignments (1)

Uploaded by

shazzy0601
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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1.

Journalise the following transactions ,post them into ledgers and balance them
2006 Particulars Amt (Rs.)
May 1. Ram started business with cash 80,000
May3. Purchased furniture for cash 25,000
May 4. Purchased goods for cash 30,000
May 5. Sold goods to A 50,000
May 5. Sold goods for cash 40,000
May 6. Purchased goods from Mohan 60,000
May 7. Goods returned to Mohan 10,000
May 8. Paid to Mohan in full settlement of his account 48,500
May9. Received from A in full settlement of his account 49,000
May 10. Paid wages 2,000
May 11. Paid rent 5,000
May 12. Outstanding salary 3,000
May 15. Received interest 4,000

2. Following are the transactions in the books of Mr. M in the month of March 2018

2018 Particulars Amount


(Rs.)
Mar 1 Goods sold to Amar a 20% discount 1,50,000
Mar 5 Purchased goods from Mr. Akbar 60,000
Mar 7 Goods sold to Anthony 75,000
Mar 8 Goods sold to Ramesh 40,000
Mar 15 Amount received from Anthony in full settlement 70,000
Mar 15 Paid to Akbar and settled his account, received 2% cash discount
Mar 25 Cheque received from Akbar in full settlement, 5% cash discount
given
Mar 27 Goods purchased from Suresh at 10% trade discount and 10% cash 1,00,000
discount. 40% amount is paid in cash.
Mar 31 Ramesh is declared insolvent and 40 paisa to a rupee received from
his estate
You are required to prepare Discount Allowed account and Discount Received account from the given
information.
3. From the details given below, show how V’s ledger would appear in the books of MS X & Co.

2015 Particulars Amt(Rs.)


Jan 1 Sold goods to Mr. V 5,00,000
Jan 5 Goods returned by Mr. V 50,000
Jan 7 Received cheque from Mr. V 75,000
Jan 30 Mr. V declared insolvent an first and final dividend of
60 paisa to a rupee received from his official receiver

4. The following are the balances extracted from the books of Mr. Akash. Prepare a Trial
Balance as on 31st March, 2018.
5. The following are the balances extracted from the books of Mr. Ketan. Prepare a Trial
Balance as on 31st March, 2018.

6. Enter the following transactions of the Premier Trading Company in Cash Book with
three columns- Discount, Cash and Bank and balance the accounts as on 31st
December 2004:

2004 Dec. 1 Cash in hand Rs 4,000

2004 Dec. 1 Bank Rs 1,000 (Cr.)

2004 Dec. 3 Received a cheque from A Rs 290 and allowed him discount of Rs 40
2004 Dec. 7 A’s cheque deposited into the bank

2004 Dec. 10 Withdrew from bank for office use Rs 800

2004 Dec. 12 Paid B/P by cheque Rs 600

2004 Dec. 15 B/R from Ram. Rs 2,500: Discounted it, crediting with bank Rs 2,400

2004 Dec. 20 Issued a cheque for Petty Cashier Rs 100

2004 Dec. 25 Paid to Gupta by cheque Rs 920; discount received Rs 30

2004 Dec. 28 Made cash-sales Rs 900.

7. Enter the following transactions in the cash book of M/s. Rohan Traders:

2005
December 01 Cash in Hand 27,500

December 05 Cash received from Nitu 12,000

December 08 Insurance Premium paid 2,000

December 10 Furniture purchased 6,000

December 14 Sold Goods for cash 16,500

December 18 Purchased Goods from Naman for cash 26,000

December 22 Cash paid to Rohini 3,200

December 25 Sold Goods to Kanika for cash 18,700

December 28 Cash Deposited into Bank 5,000

December 30 Rent paid 4,000

December 31 Salary paid 7,000

8. Prepare Cash Book for the month of April 2006 from the following particulars :
2006

April 01 Cash in hand 17,600

April 03 Purchased Goods for cash from Rena 7,500

April 06 Sold Goods to Rohan 6,000

April 10 Wages paid in cash 500

April 15 Cash paid to Neena 3,500

April 17 Cash Sales 10,000

April 19 Commission paid 700


April 21 Cash received from Teena 1,500

April 25 Furniture Purchased for cash 1,700

April 28 Rent paid 3,000

April 30 Paid Electricity bill in cash 1,300

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