Journalise the following transaction in the Book of M/s Beauti traders. Also post them in the ledger.Started business with cash Rs.2,00,000 - Bzziii

By admin -
Journalise the following transaction in the Book of M/s Beauti traders. Also post them in the ledger.

Dec.
2017		 ₹
1.Started business with cash2,00,000
2.Bought office furniture30,000
3.Paid into bank to open an current account1,00,000
5.Purchased a computer and paid by cheque2,50,000
6.Bought goods on credit from Ritika60,000
8.Cash sales30,000
9.Sold goods to Karishna on credit25,000
12.Cash paid to Mansi on account30,000
14.Goods returned to Ritika2,000
15Stationery purchased for cash3,000
16.Paid wages1,000
18.Goods returned by Karishna2,000
20.Cheque given to Ritika28,000
22.Cash received from Karishna on account15,000
24.Insurance premium paid by cheque4,000
26.Cheque received from Karishna8,000
28.Rent paid by cheque3,000
29.Purchased goods on credit from Meena Traders20,000
30.Cash sales14,000





In the Books of M/s Beauti traders
Journal

DateParticularsL.F.Debit
Amount (Rs.)		Credit
Amount (Rs.)
Dec.01Cash A/c Dr. 2,00,000
    To Capital A/c 2,00,000
 (Started business with cash)  
Dec.02Office Furniture A/c Dr.  30,000
   To Cash A/c  30,000
 (Office furniture purchased)  
Dec.03Bank A/c Dr.  1,00,000
    To Cash A/c 1,00,000
 (Opened a current account)  
Dec.05Computer A/cDr.  2,50,000
    To Bank A/c 2,50,000
 (Computer purchased and payment
made through cheque)		  
Dec.06Purchases A/c Dr.  60,000
    To Ritika 60,000
 (Goods purchased from Ritika on credit)  
Dec.08Cash A/cDr.  30,000
    To Sales A/c 30,000
 (Goods sold for cash)  
Dec.09KrishnaDr.  25,000
    To Sales A/c 25,000
 (Goods sold to Krishna)  
Dec.12Mansi Dr.  30,000
     To Cash A/c 30,000
 (Cash paid to Mansi on account)  
Dec.14RitikaDr.  2,000
    To Purchases Return A/c 2,000
 (Goods returned to Ritika)  
Dec.15Stationery A/cDr.  3,000
    To Cash A/c 3,000
 (Stationery purchased for cash)  
Dec.16Wages A/cDr.  1,000
    To Cash A/c  1,000
 (Wages paid)  
Dec.18Sales Return A/c Dr.  2,000
    To Krishna 2,000
 (Goods returned by Krishna)  
Dec.20RitikaDr.  28,000
   To Bank A/c 28,000
 (Cheque issued to Ritika)  
Dec.22Cash A/c Dr.  15,000
    To Krishna 15,000
 (Cash received from Krishna on account)  
Dec.24Insurance A/cDr.  4,000
    To Bank A/c 4,000
 (Insurance premium paid through cheque)  
Dec.26Bank A/cDr.  8,000
    To Krishna 8,000
 (Cheque received from Krishna)  
Dec.28Rent A/cDr.  3,000
    To Bank A/c  3,000
 (Rent paid through cheque)  
Dec.29Purchases A/cDr.  20,000
    To Meena Traders  20,000
 (Goods purchased on credit from Meena Traders)  
Dec.30Cash A/cDr.  14,000
    To Sales 14,000
 (Goods sold for cash)  
 Total 8,25,0008,25,000
Ledger
Cash Account


Dr.Cr.
DateParticularsJ.F.Amount
Rs		DateParticularsJ.F.Amount
Rs
2017   2017   
Dec.01Capital 2,00,000Dec.02Office Furniture 30,000
Dec.08Sales 30,000Dec.03Bank 1,00,000
Dec.22Krishna 15,000Dec.12Mansi 30,000
Dec.30Sales 14,000Dec.15Stationery 3,000
    Dec.16Wages 1,000
    Dec.31Balance c/d 95,000
   2,59,0002,59,000
Ledger
Cash Account
Dr.Cr.
DateParticularsJ.F.Amount
Rs		DateParticularsJ.F.Amount
Rs
2017   2017   
    Dec.1Cash 2,00,000
Dec.31Balance c/d 2,00,000    
   2,00,000   2,00,000
Office Furniture Account

Dr.Cr.
DateParticularsJ.F.Amount  RsDateParticularsJ.F.Amount
Rs
2017   2017   
Dec.2Cash 30,000    
    Dec.31Balance c/d 30,000
   30,000   30,000

Bank Account
Dr.Cr.
DateParticularsJ.F.Amount RsDateParticularsJ.F.Amount Rs
2017   2017   
Dec.03Cash 1,00,000Dec.05Computer 2,50,000
Dec.26Krishna 8,000Dec.20Ritika 28,000
    Dec.24Insurance 4,000
    Dec.28Rent 3,000
Dec.31Balance c/d
(overdraft)		 1,77,000    
   2,85,000   2,85,000

Computer Account
Dr.Cr.
DateParticularsJ.F.Amount
Rs		DateParticularsJ.F.Amount
Rs
2017    2017    
Dec.05Bank 2,50,000    
    Dec.31Balance c/d 2,50,000
   2,50,000   2,50,000

Purchases Account
Dr.Cr.
DateParticularsJ.F.Amount
Rs		DateParticularsJ.F.Amount
Rs
2017    2017   
Dec.06Ritika 60,000    
Dec.29Meena Traders 20,000    
    Dec.31Balance c/d 80,000
   80,000   80,000

Ritika’s Account
Dr.Cr.
DateParticularsJ.F.Amount
Rs		DateParticularsJ.F.Amount
Rs
2017   2017   
Dec.14Purchases Return 2,000Dec.06Purchases 60,000
Dec.20Bank 28,000    
Dec.31Balance c/d 30,000    
   60,000   60,000

Meena’s Account
Dr.Cr.
DateParticularsJ.F.Amount
Rs		DateParticularsJ.F.Amount
Rs
2017   2017   
    Dec.29Purchases 20,000
Dec.31Balance c/d 20,000    
   20,000   20,000

Sales Account
Dr.Cr.
DateParticularsJ.F.Amount
Rs		DateParticularsJ.F.Amount
Rs
2017   2017   
    Dec.08Cash 30,000
    Dec.09Krishna 25,000
Dec.31Balance c/d 69,000Dec.30Cash 14,000
   69,000   69,000

Krishna’s Account
Dr.Cr.
DateParticularsJ.F.Amount
Rs		DateParticularsJ.F.Amount
Rs
2017   2017   
Dec.09Sales 25,000Dec.18Sales Return 2,000
    Dec.22Cash 15,000
    Dec.26Bank 8,000
   25,000   25,000

Mansi’s Account
Dr.Cr.
DateParticularsJ.F.Amount
Rs		DateParticularsJ.F.Amount
Rs
2017    2017    
Dec.12Cash 30,000    
    Dec.31Balance c/d 30,000
   30,000   30,000

Purchases Return Account
Dr.Cr.
DateParticularsJ.F.Amount
Rs		DateParticularsJ.F.Amount
Rs
2017   2017    
    Dec.14Ritika 2,000
Dec.31Balance c/d 2,000    
   2,000   2,000

Stationery Account
Dr.Cr.
DateParticularsJ.F.Amount
Rs		DateParticularsJ.F.Amount
Rs
2017    2017    
Dec.15Cash 3,000    
    Dec.31Balance c/d 3,000
   3,000   3,000

Wages Account
Dr.Cr.
DateParticularsJ.F.Amount
Rs		DateParticularsJ.F.Amount
Rs
2017    2017    
Dec.16Cash 1,000    
    Dec.31Balance c/d 1,000
   1,000   1,000

Sales Return Account
Dr.Cr.
DateParticularsJ.F.Amount
Rs		DateParticularsJ.F.Amount
Rs
2017    2017    
Dec.18Krishna 2,000    
    Dec.31Balance c/d 2,000
   2,000   2,000

Insurance Account
Dr.Cr.
DateParticularsJ.F.Amount
Rs		DateParticularsJ.F.Amount
Rs
2017    2017    
Dec.24Bank 4,000    
    Dec.31Balance c/d 4,000
   4,000   4,000

Rent Account
Dr.Cr.
DateParticularsJ.F.Amount
Rs		DateParticularsJ.F.Amount
Rs
2017    2017    
Dec.28Bank 3,000    
    Dec.31Balance c/d 3,000
   3,000   3,000

Comments

Post a Comment

Popular posts from this blog

Himanshu Withdrews Rs 2,500 at the End Month of Each Month - Bzziii.com

By admin -
Himanshu withdrews Rs 2,500 at the end Month of each month. The Partnership deed provides for charging the interest on drawings @ 12% p.a. Calculate interest on Himanshu’s drawings for the year ending 31st December, 2017 SOLUTION Calculations for Himanshu's Total Drawing  = Rs 2,500 × 12  = Rs 30,000 Interest on Drawing = Total Drawings `\times` `"Rate"/"100"` `\times` `frac{11}{2\times12}` = Rs. 30,000 `\times` `"Rate"/"100"` `\times` `frac{11}{2\times12}` = RS. 1,650 Chapter-2 Partnership Basic: Accounts 18 19 20 21 22
Read more

Chapter 2 - Accounting for Partnership Firms-Fundamentals - Solutions for Class 12 Accountancy

By admin -
NUMERICAL QUESTION 1.Triphati and Chauhan are partners in a firm sharing profits and losses in the ratio of 3:2. Their capitals were Rs 60,000 and Rs 40,000 as on January 01, 2015. During the year they earned a profit of Rs 30,000. According to the partnership deed both the partners are entitled to Rs 1,000 per month as Salary and 5% interest on their capital. They are also to be charged an interest of 5% on their drawings, irrespective of the period, which is Rs 12,000 for Tripathi, Rs 8,000 for Chauhan. Prepare Partner’s Accounts when, capitals are fixed. SOLUTION 2. Anubha and Kajal are partners of a firm sharing profits and losses in the ratio of 2:1. Their capital, were Rs 90,000 and Rs 60,000. The profit during the year were Rs 45,000. According to partnership deed, both partners are allowed salary, Rs 700 per month to Anubha and Rs 500 per month to Kajal. Interest allowed on capital @ 5% p.a. The drawings at the end of the period were Rs 8,500 for Anubha and Rs 6,500 for Kajal. ...
Read more