Journalise the following transactions; post them into Ledger for February 2019.
1. Sunil Started business with stock of goods Rs.20,000 and Cash Rs.1,70,000 out of which Rs.50,000 borrowed from his friend Kedar @10 p.a.
5. Placed an order for goods worth Rs.7,000 with Mohan for which advance Rs.5,500 was paid.
9. Purchased Stationery for office use Rs.4,500.
12. Goods distributed as free samples Rs.2,000.
17. Paid Freight Rs.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 Shekar on two months credit for Rs.7,000 at 20% Trade Discount with instructions to send them to Sagar.
28. Sent to Sagar Outward Invoiced for goods supplied by Shekhar. at list price less 10% Trade Discount.
Solution:
Date | Particulars | L.F | Amt | Date | Particulars | L.F | Amt |
Feb. 2019 1 | To Capital A/c |
| 1,70,000 | Feb. 2019 5 | By Mohan A/c |
| 5,500 |
|
|
|
| 9 | By Stationery A/c |
| 4,500 |
|
|
|
| 12 | By Advertisement A/c |
| 2,000 |
|
|
|
| 17 | By Freight A/c |
| 400 |
|
|
|
| 24 | By Purchase A/c |
| 1,500 |
|
|
|
| 28 | By Balance c/d |
| 1,56,100 |
|
|
| 1,70,000 |
|
|
| 1,70,000 |
March1 | To Balance b/d |
| 1,56,100 |
|
|
|
|
Purchase Account
Date | Particulars | L.F | Amt | Date | Particulars | L.F | Amt |
Feb 2019 1 | To Balance A/c |
| 7,000 | Feb 2019 27 | By Advertisement A/c |
| 2,000 |
24 | To Cash A/c |
| 20,000 |
|
|
|
|
27 | To Shekhar A/c |
| 5,600 | 28 | By Balance c/d |
| 30,600 |
|
|
|
|
|
|
|
|
|
|
| 32,600 |
|
|
| 32,600 |
March 1 | To Balance b/d |
| 30,600 |
|
|
|
|
Stationery Account
Date | Particulars | L.F | Amt | Date | Particulars | L.F | Amt |
Feb. 2019 9 | To Cash A/c |
| 4,500 | 28 | By Balance c/d |
| 4,500 |
|
|
|
|
|
|
|
|
|
|
| 4,500 |
|
|
| 4,500 |
March1 | To Balance b/d |
| 4,500 |
|
|
|
|
Advertisement Account
Date | Particulars | L.F | Amt | Date | Particulars | L.F | Amt |
Feb. 2019 12 | To Cash A/c |
| 2,000 |
|
|
|
|
|
|
|
| 28 | By Balance c/d |
| 2,000 |
|
|
| 2,000 |
|
|
| 2,000 |
March1 | To Balance b/d |
| 2,000 |
|
|
|
|
Sales Account
Date | Particulars | L.F | Amt | Date | Particulars | L.F | Amt |
Feb. 2019 28 | To Balance b/d |
| 6,300 | Feb. 2019 28 | By Sagar A/c |
| 6,300 |
|
|
| 6,300 |
|
|
| 6,300 |
|
|
|
| March 1 | By Balance c/d |
| 6,300 |
Sunil's Capital Account
Date | Particulars | L.F | Amt | Date | Particulars | L.F | Amt |
28 | To Balance b/d |
| 1,20,000 | Feb 2019 28 | By Cash A/c |
| 1,20,000 |
|
|
| 1,20,000 |
|
|
| 1,20,000 |
|
|
|
| March 1 | By balance c/d |
| 1,20,000 |
Loan from Kedar
Date | Particulars | L.F | Amt | Date | Particulars | L.F | Amt |
28 | To Balance b/d |
| 50,000 | Feb. 2019 28 | By Cash A/c |
| 50,000 |
|
|
| 50,000 |
|
|
| 50,000 |
|
|
|
| March 1 | By Balance c/d |
| 50,000 |
Dev's
Date | Particulars | L.F | Amt | Date | Particulars | L.F | Amt |
Feb 2019 17 | To Freight A/c |
| 400 |
|
|
|
|
|
|
|
| 28 | By Balance c/d |
| 400 |
|
|
| 400 |
|
|
| 400 |
March 1 | To Balance b/d |
| 400 |
|
|
|
|
Sagar A/c
Date | Particulars | L.F | Amt | Date | Particulars | L.F | Amt |
Feb. 2019 28 | To Sales A/c |
| 6,300 | Feb. 2019 28 | By Balance c/d |
| 6,300 |
|
|
| 6,300 |
|
|
| 6,300 |
March 1 | To Balance b/d |
| 6,300 |
|
|
|
|
Shekhar Account
Date | Particulars | L.F | Amt | Date | Particulars |