ASSIGNMENT-1

Q) Given below is the trial balance of previous period,create groups and ledgers and enter opening trail balance

TRIAL BALANCE AS ON 31.03.2016

PARTICULARS DEBIT CREDIT

BANK ACCOUNT 35000
CAPITAL ACCOUNT 40000
500
PETTY CASH 57300
SUNDRY DEBTORS 5400
COMP. CARE SYSTEMS 26000
DATA LINK TECHNOLOGIES 12400
SPECTRUM COMPUTERS 13500
SUPREME COMPUTERS
BUILDINGS 75000
BUILDING ACCUMULATED 8000
DEPRICIATION
OFFICE EQUIPMENT 25000
OFFICE EQUIPMENT 4500
ACCUMULATED DEPRICIATION
TAX DEDUCTED AT SOURCE
SALES TAX
SUNDRY CREDITORS (TOTAL)
CHALLANGER SYSTEMS
HORIZON ENTERPRISES
SILVER PLUS COMPUTERS
MUTUAL TRUST LOANS
EQUITY CAPITAL
PROFIT AND LOSS ACCOUNT
DIFF. IN OPENING BALANCE
TOTAL
Exercise 1 :
Create charts of accounts of Indus Enterprises based on Trial Balance extracted from its
books of accouns at the close of business on March 31,2012

LEDGER Name Under Opening Balance Dr/Cr

Proprietors Capial Account Capital Account 25000 Cr
Land & Building Fixed Assets 60000 Dr
Milton & Co. Sundry Debtors 15000 Dr
Kaltronic LTD Sundey Creditors 85000 Cr
State Bank Of India Bank Accounts 35000 Dr
Local Sales Sales Accounts
Local Purchases Purchase Accounts
Conveynance Indirect Expenses
Bank Interest Indirect Incomes
 ASSIGNMENT 3

Date Transaction Details

2-4-2017 Paid Rs. 500 to challenger systems
by cheque
2-4-2017 Bought office supplies for Rs. 150
with Petty Cash
2-4-2017 Wages of Rs. 600 paid to
employees with cheque
5-4-2017 Banked a cheque of Rs. 5000
received from Data Link
Technologies
6-4-2017 Sold 1 IBM Pentium IV to
Spectrum Computers for Rs.
24785
6-4-2017 Withdrew Rs. 200 FROM Bank
account for petty cash
7-4-2017 Bought 1 laserjet 1500 from silver
plus computers on credit for 8100
 EXERCISE 4
PASS JOURNAL ENTRIES FOR THE FOLLOWING TRANSACTION

1. Started business with cash 5000

2. Purchased furniture with cash 500
3. Opened a Bank Account 1000
4. Goods purchased in cash 2000
5. Goods sold in cash 1500
6. Goods purchased on credit from Roy 3000
7. Paid salary 800
8. Paid rent by cheque 500
9. Goods sold on credit to bose 1800
10. Cash paid to Roy 2500
11. Cash collected from Bose 1500
12. Cash deposited into bank 1600
13. Cash withdrawn for household purposes 500
14. Cheque drawn for office purposes 1000
 Exercise 5
RECORD THE FOLLOWING TRSNSACTIONS IN A JOURNAL

DATE TRANSACTIONS
APR 12 Received a cheque of Rs.50000 from Ram and Sons Manufacturers
APR 13 Insurance paid by cheque Rs.20000
APR 14 Sold goods to Nandini Manufacturers Rs.200000
APR 15 Nandini pays Rs 2,00,000 through cheque
APR 16 Goods purchased from GG Traders Rs.300000 paid through cheque
APR 17 Purchased office furniture for Rs.50000 in cash
Apr 18 Goods costing Rs.30000 given as charity
Apr 19 Paid Rs.50000 towords rent through cheque
Apr 20 Cash withdrawn for household purposes Rs.20000
Apr 21 Damaged goods returned to GG traders Rs 50000
APR 30 Salaries paid Rs. 30,000 through cash
 ASSIGNMENT 5
Q Make the following goups and sub-groups as shown

Stock Groups Sub-groups Can quantities be added

Computers Primary Yes
Printers Primary No
Peripherals Primary Yes
Accessories Peripherals Yes
Components Peripherals Yes