24.

Credit
Date Particulars L.F. Debit (₹)
(₹)

2017

Dec. 01 Cash A/c Dr. 1,00,000

To Capital A/c 1,00,000

(Started business with cash)

Dec. 02 Bank A/c Dr. 30,000

To Cash A/c 30,000

(Bank account opened with SBI)

Dec. 04 Purchases A/c Dr. 20,000

To Ashu 20,000

(Goods purchased from Ashu)

Dec. 06 Cash A/c Dr. 15,000

To Sales A/c 15,000

(Goods sold for cash)

Dec. 10 Purchases A/c Dr. 40,000

To Cash A/c 40,000

(Goods purchased for cash)

Dec. 13 Suman Dr. 20,000

To Sales A/c 20,000

(Goods goods to Suman)

Dec. 16 Bank A/c Dr. 19,500

Discount Allowed A/c Dr. 500

To Suman 20,000

(Cheque received from Suman and discount

allowed)

Dec. 20 Ashu Dr. 10,000

To Bank A/c 10,000

(Cheque forwarded to Ashu)

Dec.b22 Rent A/c Dr. 2,000

To Bank A/c 2,000

(Rent paid by cheque)

Dec.b23 Bank A/c Dr. 16,000

To Cash A/c 16,000

(Cash deposited into bank)

Dec. 25 Machinery A/c Dr. 10,000

 To Parigya 10,000

(Machinery purchased from Parigya)

Dec. 26 Trade Expenses A/c Dr. 2,000

To Cash A/c 2,000

(Trade expenses paid)

Dec. 28 Parigya Dr. 10,000

To Bank A/c 10,000

(Cheque issued to Parigya)

Dec. 29 Telephone Expenses A/c Dr. 1,200

To Bank A/c 1,200

(Telephone expenses paid through cheque)

Dec. 30 Salaries A/c Dr. 4,500

To Cash A/c 4,500

(Salary paid)

Total 3,00,700 3,00,700

25. rectifying entries

S. Cr.
Particulars L.F. Dr.(Rs.)
No. (Rs.)

1. Suspense A/c Dr. 283

To Discount Received A/c 283

(Being Discount received Rs.283, not posted in the books, now

corrected.)

2. Supplier A/c Dr. 6930

To Suspense A/c 6930

(Being brought goods for Rs.770, wrongly posted to supplier

a/c as Rs.7700, now rectified.)

3. Debtors A/c Dr. 6,000

To Suspense A/c 6,000

(Being owing by a customer, not included in the list of Sundry

Debtors, now rectified.)

4. Suspense A/c Dr. 4,052

To Customer A/c 4,052

(Being goods of Rs.2,026 returned by customer, wrongly

debited to customer a/c now corrected.)

1. Suspense A/c
Particulars Rs. Particulars Rs.

To Balance b/d 8,595 By Supplier 6,930

Particulars Rs. Particulars Rs.

To Discount Received 283 By Debtors 6,000

To Customer 4,052

12,930 12,930
33
Amount Amount
Particulars Particulars
(Rs) (Rs)

To Opening Stock 5,000 By Sales 17,000

To Purchase 10,000 By Closing Stock 10,000

To Wages 3,000

To Gross Profit c/d 9,000

27,000 27,000
======= ======

To Interest 200 By Gross Profit b/d 9,000

To Office Expense 2,500 By Interest 600

To Salaries 2,000

To Rent, rates and

800
taxes

To Depreciation 1,000

To Repairs 300

To Bad Debts 500

To Net Profit 2,300

9,600 9,600
====== ======

Balance Sheet 33.

Liabilitie Amount Amount
Assets
s (Rs) (Rs)

Capital 25,000 Debtors 1,500

Add Net
2,300 Stock 10,000
Profit

Less
2,000 25,300 Plant & Machinery 5,700
Drawings

Furniture & Fixture 1,500

Creditors 7,000 Bills Receivables 2,000

Bills
400 Land & Building 10,000
Payable

Cash 1,600

Bank 400
Liabilitie Amount Amount
Assets
s (Rs) (Rs)

32,700 32,700
======= ======