Prime Entry Books: Tutorial 5

Question No 9 -Answer

General Journal

Date Account Folio Debit Credit

1-Jan Stocks A/C 64000
Pre-paid rent A/C 6000
Bank A/C 68000
Cash A/C 274000
Bank loan A/C 62000
Capital (Chamath) A/C 350000
(Assets and liabilities at 1st January 2011 entered as opening balance)
412000 412000
25-Jan Bad debt A/C
Jonny's A/C 2500
(Rs.2500/- worth of debts written off as a bad debt) 2500

30-Jan Machine A/C 200,000

C.Jackson A/C 200,000
(Purchased a machine on credit from C.Jackson)

Purchase Day Book

Date Personal Details Goods Value Total Value
1/1/2011 K Kumara 27000
25% Discount -6750 20250

P Perera 35000
B Spencer 76000

131250

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 Prime Entry Books: Tutorial 5
Question No 9 -Answer

Sales Day Book

Date Personal Details Goods Value Total Value
10/1/2011 Jony 6000
6000

Cash Book
Date Details Ref Cash Bank Date Details Ref Cash Bank
1/1/2011 BBF 274000 68000 3/1/2011 P.Perera 14000
25/1/2011 Jonny 3500 30/1/2011 furniture 60000

31/1/2011 BCD 6000 31/1/2011 BCD 277500

277500 74000 277500 74000
1/2/2011 BBF 277500 1/2/2011 BBF 6000

General Ledger

Purchase A/C
creditors 131250
BCD 131250
131250 131250
BBF 131250

Sales A/C
Debtor 6000
BCD 6000
6000 6000
BBF 6000

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Prime Entry Books: Tutorial 5
Question No 9 -Answer

Machine A/C
C.Jackson 200000
BCD 200000
200000 200000
BBF 200000

Furniture A/C
Bank 60000
BCD 60000
60000 60000
BBF 60000

Bad Debts A/C

Jonny 2500
BCD 2500
2500 2500
BBF 2500

Chamath Capital A/C

BBF 350000
BCD 350000
350000 350000
BBF 350000

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Prime Entry Books: Tutorial 5
Question No 9 -Answer

Bank Loan A/C

BBF 62000

BCD 62000
62000 62000
BBF 62000

Stocks A/C
BBF 64000

BCD 64000
64000 64000
BBF 64000

Pre-Paid Rent A/C

BBF 6000
BCD 6000
6000 6000
BBF 6000

C.Jackson A/C
Machines 200000
BCD 200000
200000 200000
BBF 200000

4
Prime Entry Books: Tutorial 5
Question No 9 -Answer

Purchase Ledger

K Kumara A/C
Purchase 20250
BCD 20250
20250 20250
BBF 20250

P perera A/C
Bank 14000 Purchase 35000

BCD 21000
35000 35000
BBF 21000

B.spencer A/C
Purchase 76000
BCD 76000
76000 76000
BBF 76000

Sales Ledger

Jonny A/C
sales 6000 Cash 3500
Bad debts 2500

6000 6000

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Prime Entry Books: Tutorial 5
Question No 9 -Answer

Chamath Trading
Trail Balance as at
31/01/2011
Dr Cr
Cash 277500
Bank 6000
Capital 350000
Bank loan 62000
Stocks 64000
Pre-Paid rent 6000
K Kumara 20250
Pperera 21000
B Spencer 76000
Purchase 131250
Sales 6000
Bad Debts 2500
Machines 200000
C Jackson 200000
Furniture 60000

741250 741250