Question

Journalise the following transactions; post them into Ledger for February 2019

1 Sunil Started business with a stock of goods ₹ 20,000 and Cash ₹ 1,70,000 out of which ₹ 50,000 borrowed from his friend Kedar @ 10 p.a.

5 Placed an order for goods worth ₹ 7,000 with Mohan for which an advance of ₹ 5,500 was paid.

9 Purchased Stationery for office use ₹ 4,500

12 Goods distributed as free samples ₹ 2,000

17 Paid Freight ₹ 400 on behalf of Mr. Dev.

24 Received Goods from Mohan as per our order dated 5th Feb and settled his account.

27 Bought goods from Shekhar on two months credit for ₹ 7,000 at 20% Trade Discount with instructions to send them to Sagar.

28 Sent to Sagar Outward Invoice for goods supplied by Shekhar, at list price less 10% Trade Discount.

Answer 1

Journal of Sunil
Date	Particulars	L.F. No.	Debit Amount (₹)	Credit Amount (₹)
2019 Feb. 1	Stock of Goods A/c    ...Dr.		20,000
	Cash A/c     ...Dr.		1,70,000
	To Kedar's Loan A/c			50,000
	To Capital A/c			1,40,000
	(Being business started with stock of goods, borrowing and cash in hand)
5	Advance to Mohan A/c    ...Dr.		5,500
	To Cash A/c			5,500
	(Being advance paid against order of goods worth , 7,000)
9	Stationery A/c      ...Dr.		4,500
	To Cash A/c			4,500
	(Being stationery purchased and cash paid)
12	Advertisement A/c    ...Dr.		2,000
	To Goods distributed as free samples A/c			2,000
	(Being goods distributed as free samples)
17	Mr. Dev's A/c    ...Dr.		400
	To Cash A/c			400
	(Being freight paid on behalf of Mr. Dev)
24	Purchases A/c    ...Dr.		7,000
	To Advance to Mohan A/c			5,500
	To Cash A/c			1,500
	(Being order for purchase of goods executed and balance amount paid)
27	Goods sent to Sagar's A/c    ...Dr.		5,600
	To Shekhar's A/c			5,600
	(Being good purchased on credit and sent to Sagar)
28	Sagar's A/c    ...Dr.		6,300
	To Sales A/c			6,300
	(Being goods sold to Sagar on credit @ 10% Trade discount)
	Total		2,21,300	2,21,300

Ledger of Sunil

Dr.	Stock of Goods A/c						Cr.
Date	Particulars	J.F. No.	Amt. (₹)	Date	Particulars	J.F. No.	Amt. (₹)
2019 Feb. 1	To Capital A/c		20,000	2019 Feb. 28	By Balance c/d		20,000
			20,000				20,000
2019 March 1	To Balance b/d		20,000

 

Dr.	Cash A/c						Cr.
Date	Particulars	J.F. No.	Amt. (₹)	Date	Particulars	J.F. No.	Amt. (₹)
2019 Feb. 1	To Kedar's Loan A/c		50,000	2019 Feb. 5	By Advance to Mohan A/c		5,500
1	To Capital A/c		1,20,000	9	By Stationery A/c		4,500
				17	By Mr. Dev's A/c		400
				24	By Purchases A/c		1,500
				28	By Balance c/d		1,58,100
			1,70,000				1,70,000
2019 March 1	To Balance b/d		1,58,100

 

Dr.	Kedar's Loan A/c						Cr.
Date	Particulars	J.F. No.	Amt. (₹)	Date	Particulars	J.F. No.	Amt. (₹)
2019 Feb. 28	To Balance c/d		50,000	2019 Feb. 1	By Cash A/c		50,000
			50,000				50,000
				2019 March 1	By Balance b/d		50,000

 

Dr.	Capital A/c						Cr.
Date	Particulars	J.F. No.	Amt. (₹)	Date	Particulars	J.F. No.	Amt. (₹)
2019 Feb. 28	To Balance c/d		1,40,000	2019 Feb. 1	By Stock of Goods A/c		20,000
				1	By Cash A/c		1,20,000
			1,40,000				1,40,000
				2019 March 1	By Balance b/d		1,40,000

 

Dr.	Advance to Mohan A/c						Cr.
Date	Particulars	J.F. No.	Amt. (₹)	Date	Particulars	J.F. No.	Amt. (₹)
2019 Feb. 5	To Cash A/c		5,500	2019 Feb. 24	By Purchases A/c		5,500
			5,500				5,500

 

Dr.	Stationery A/c						Cr.
Date	Particulars	J.F. No.	Amt. (₹)	Date	Particulars	J.F. No.	Amt. (₹)
2019 Feb. 9	To Cash A/c		4,500	2019 Feb. 28	By Balance c/d		4,500
			4,500				4,500
2019 March 1	To Balance b/d		4,500

 

Dr.	Advertisment A/c						Cr.
Date	Particulars	J.F. No.	Amt. (₹)	Date	Particulars	J.F. No.	Amt. (₹)
2019 Feb. 12	To Goods distributed as free samples A/c		2,000	2019 Feb. 28	By Balance c/d		2,000
			2,000				2,000
2019 March 1	To Balance b/d		2,000

 

Dr.	Goods Distributed as free Sample A/c						Cr.
Date	Particulars	J.F. No.	Amt. (₹)	Date	Particulars	J.F. No.	Amt. (₹)
2019 Feb. 28	To Balance c/d		2,000	2019 Feb. 12	By Advertisement A/c		2,000
			2,000				2,000
				2019 March 1	By Balance b/d		2,000

 

Dr.	Mr. Dev's  A/c						Cr.
Date	Particulars	J.F. No.	Amt. (₹)	Date	Particulars	J.F. No.	Amt. (₹)
2019 Feb. 17	To Cash A/c		400	2019 Feb. 28	By Balance c/d		400
			400				400
2019 March 1	To Balance b/d		400

 

Dr.	Purchases A/c						Cr.
Date	Particulars	J.F. No.	Amt. (₹)	Date	Particulars	J.F. No.	Amt. (₹)
2019 Feb. 24	To Advance to Mohan A/c		5,500	2019 Feb. 28	By Balance c/d		7,000
	To Cash A/c		1,500
			7,000				7,000
2019 March 1	To Balance b/d		7,000

 

Dr.	Goods Sent to Sagar's A/c						Cr.
Date	Particulars	J.F. No.	Amt. (₹)	Date	Particulars	J.F. No.	Amt. (₹)
2019 Feb. 27	To Shekhar's A/c		5,600	2019 Feb. 28	By Balance c/d		5,600
			5,600				5,600
2019 March 1	To Balance b/d		5,600

 

Dr.	Shekar's A/c						Cr.
Date	Particulars	J.F. No.	Amt. (₹)	Date	Particulars	J.F. No.	Amt. (₹)
2019 Feb. 28	To Balance c/d		5,600	2019 Feb. 27	By Goods sent to Sagar's A/c		5,600
			5,600				5,600
				2019 March 1	By Balance b/d		5,600

 

Dr.	Sagar's A/c						Cr.
Date	Particulars	J.F. No.	Amt. (₹)	Date	Particulars	J.F. No.	Amt. (₹)
2019 Feb. 28	To Sales A/c		6,300	2019 Feb. 28	By Balance c/d		6,300
			6,300				6,300
2019 March 1	To Balance b/d		6,300

 

Dr.	Sales A/c						Cr.
Date	Particulars	J.F. No.	Amt. (₹)	Date	Particulars	J.F. No.	Amt. (₹)
2019 Feb. 28	To Balance c/d		6,300	2019 Feb. 28	By Sagar's A/c		6,300
			6,300				6,300
				2019 March 1	By Balance b/d		6,300