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Question
Journalise the following transactions and post them to the ledger.
| 2016 Jan. | Particulars | ₹ |
| 1 | Started business with cash | 10,000 |
| 5 | Paid into bank | 5,000 |
| 7 | Purchased goods from Ram for cash | 1,000 |
Solution
Journal of Mr. X
| Date | Particulars | L.F. | Debit ₹ | Credit ₹ |
| 2016 Jan. 1 |
Cash A/c ...........Dr. To Capital A/c (Started business with cash) |
10,000 - |
- 10,000 |
|
| 5 | Bank A/c ...........Dr. To Cash A/c (Paid into bank) |
5,000 - |
- 5,000 |
|
| 7 | Purchases A/c ........Dr. To Cash A/c (Purchases good for cash) |
1,000 - |
- 1,000 |
Ledger Cash Account
Dr. Cr.
| Date | Particulars | J.F. | ₹ | Date | Particulars | J.F. | ₹ |
| 2016 | 2016 | ||||||
| Jan. 1 | To Capital A/c | 10,000 | Jan. 5 | By Bank A/c | 5,000 | ||
| 7 | By Purchases A/c | 1,000 | |||||
| 31 | By Balance c/d | 4,000 | |||||
| 10,000 | 10,000 | ||||||
| Feb. 1 | To Balance b/d | 4,000 |
Capital Account
Dr. Cr.
| Date | Particulars | J.F. | ₹ | Date | Particulars | J.F. | ₹ |
| 2016 | 2016 | ||||||
| Jan. 31 | To Balance c/d | 10,000 | Jan 1. | By Cash A/c | 10,000 | ||
| 10,000 | 10,000 | ||||||
| Feb. 1 | By Balance b/d | 10,000 |
Bank Account
Dr. Cr.
| Date | Particulars | J.F. | ₹ | Date | Particulars | J.F. | ₹ |
| 2016 | 2016 | ||||||
| Jan. 5 | To Cash A/c | 5,000 | Jan. 31 | By Balance c/d | 5,000 | ||
| 5,000 | 5,000 | ||||||
| Feb. 1 | To Balance b/d | 5,000 | 5,000 |
Purchase Account
Dr. Cr.
| Date | Particulars | J.F. | ₹ | Date | Particulars | J.F. | ₹ |
| 2016 | 2016 | ||||||
| Jan. 7 | To Cash A/c | 1,000 | Jan. 31 | By Balance c/d | 1,000 | ||
| 1,000 | 1,000 | ||||||
| Feb. 1 | To Balance b/d | 1,000 |
APPEARS IN
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The following balances appeared in the books of Vinoth on Jan 1, 2018
| Assets | ₹ | Liabilities | ₹ |
| Cash | 40,000 | Amount due to Vijay | 10,000 |
| Stock | 50,000 | ||
| Amount due from Ram | 20,000 | ||
| Machinery | 40,000 |
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Enter the following transactions in the books of Ganesan and post them into ledger.
| 2017 Oct | Particulars | ₹ |
| 1 | Started business with cash | 25,000 |
| 5 | Deposited into bank | 12,500 |
| 10 | Purchased furniture and payment by cheque | 2,000 |
| 15 | Goods purchased for cash | 5,000 |
| 19 | Sold goods to Vasu on credit | 4,000 |
| 22 | Goods worth has taken for personal use | 500 |
Journalise the following transactions in the books of Vasu and post them to ledger accounts.
| 2017 Nov | Particulars |
| 1 | Cash in hand ₹ 1,00,000; Cash at bank: ₹ 30,000 |
| 2 | Vasu sold goods to Jothi for ₹ 25,000 against a cheque and deposited the same in the bank |
| 4 | Received as commission ₹ 5,000 |
| 8 | Bank paid ₹ 15,000 directly for the insurance premium of Vasu. |
| 15 | Cash deposited into bank ₹ 30,000 |
| 20 | Cash withdrawn from bank for personal use ₹ 45,000. |
