SUBJECT NAME: FINANCIAL ACCOUNTING

SUBJECT CODE: BBALLB 117

NAME: PAWANI JAIN

ENROLLMENT NO.: BBALLB005

CLASS AND SECTION: BBA LLB (A)

FACULTY NAME: SANDEEP BHATIA

TOPIC: TRIAL BALANCE

Journalise the following transactions, post them into Ledger, balance the accounts and
prepare a Trial Balance :−

20
(₹)
17
M Shyam Sunder & Sons commenced 80,
arc business with cash 00
h1 0
2 Purchased goods for cash 36,
00
0
3 Machinery purchased for cash 4,0
00
4 Purchased goods from :
Raghu 22,
00
0
Dilip 30,
00
0
6 Returned goods to Raghu 4,0
00
8 Paid to Raghu, in full settlement of his 17,
 account 50
0
10 Sold goods to Mahesh Chand & Co. for
₹ 32,000 at 5% trade discount
13 Received cash from Mahesh Chand & 19,
Co. 80
0
Discount allowed 20
0
15 Paid cash to Dilip 14,
85
0
Discount received 15
0
20 Sold goods for cash 25,
00
0
24 Sold goods for cash to Sudhir Ltd. 18,
00
0
25 Paid for Rent 1,5
00
26 Received for Commission 2,0
00
28 Withdrew by Proprietor for his 5,0
personal use 00
28 Purchased a fan for Proprietor's house 1,2
00

Solution
Journal
In the Books of…
Dat L. Debit Amou Credit Amo
Particulars
e F. nt (Rs) unt (Rs)
201
 7
Mar. D
Cash A/c 80,000
01 r.
To Capital A/c 80,000
(Business started
with cash)
Mar. D
Purchases A/c 36,000
02 r.
To Cash A/c 36,000
(Goods purchased
for cash)
Mar. D
Machinery A/c 4,000
03 r.
To Cash A/c 4,000
(Machinery
purchased for cash)
Mar. D
Purchases A/c 52,000
04 r.
To Raghu’s A/c 22,000
To Dilip’s A/c 30,000
(Goods purchased on
credit from Raghu and
Dilip)
Mar. D
Raghu’s A/c 4,000
06 r.
To Purchases Return
4,000
A/c
(Goods returned to
Raghu)
Mar. D
Raghu’s A/c 18,000
08 r.
To Cash A/c 17,500
To Discount
500
Received A/c
(Cash paid to Raghu
in full settlement)
Mar. Mahesh Chand & D
30,400
10 Co. r.
To Sales A/c 30,400
(Goods sold to Mahesh
 Chand & Co. at trade
discount)
Mar. D
Cash A/c 19,800
13 r.
Discount Allowed
200
A/c
To Mahesh Chand &
20,000
Co.
(Cash received from
Mahesh Chand &
Co.)
Mar. D
Dilip’s A/c 15,000
15 r.
To Cash A/c 14,850
To Discount
150
Received A/c
(Cash paid to Dilip)
Mar. D
Cash A/c 25,000
20 r.
To Sales A/c 25,000
(Goods sold for
cash)
Mar. D
Cash A/c 18,000
24 r.
To Sales A/c 18,000
(Goods sold for
cash)
Mar. D
Rent A/c 1,500
25 r.
To Cash A/c 1,500
(Rent paid)
Mar. D
Cash A/c 2,000
26 r.
To Commission A/c 2,000
(Commission
received)
Mar. D
Drawings A/c 6,200
28 r.
To Cash A/c 6,200
(Cash withdrawn
 and fan purchased
for personal use)
TOTAL 3,12,100 3,12,100
Cash Account
C
Dr.
r.
J. Amount ( Particul J. Amount (
Date Particulars Date
F. Rs) ars F. Rs)
2017 2017
Mar. Mar. Purchase
Capital A/c 80,000 36,000
01 02 s A/c
Mar. Mahesh Mar. Machine
19,800 4,000
13 Chand & Co. 03 ry A/c
Mar. Mar. Raghu’s
Sales A/c 25,000 17,500
20 08 A/c
Mar. Mar. Dilip’s
Sales A/c 18,000 14,850
24 15 A/c
Mar. Commission Mar.
2,000 Rent A/c 1,500
26 A/c 25
Mar. Drawing
6,200
28 s A/c
Mar. Balance
64,750
31 c/d
1,44,800 1,44,800
2017
Apr.
Balance b/d 64,750
01

Capital Account
D C
r. r.
J. J. Amo
Dat Partic Amoun Dat Partic
F F unt
e ulars t (Rs) e ulars
. . (Rs)
201 201
7 7
Mar Balanc 80,000 Mar. Cash 80,0
.31 e c/d 01 A/c 00
80,0
80,000
00
201
7
Apr. Balanc 80,0
01 e b/d 00
Purchases Account
D C
r r
. .
J. J. Amo
Dat Particular Amoun Dat Partic
F F unt
e s t (Rs) e ulars
. . (Rs)
201 201
7 7
Mar Ma Balanc 88,0
Cash A/c 36,000
.02 r.31 e c/d 00
Mar Raghu’s
22,000
.04 A/c
Dilip’s A/c 30,000
88,0
88,000
00
201
7
Apr Balance
88,000
.01 b/d
Machinery Account
D Cr
r. .
Amou Amou
Particula J. Particula J.
Date nt Date nt
rs F. rs F.
(Rs) (Rs)
2017 2017
Mar.0 Mar.3 Balance
Cash A/c 4,000 4,000
3 1 c/d
4,000 4,000
2017
Apr.0 Balance 4,000
 1 b/d

Raghu’s Account
D Cr.
r.
J. Amount Dat Particula J. Amount
Date Particulars
F. (Rs) e rs F. (Rs)
2017 201
7
Mar. Purchases 4,000 Mar. Purchases 22,000
06 Return A/c 04 A/c
Mar. Cash A/c 17,500
08
Discount 500
Received
A/c
22,000 22,000
Dilip’s Account
D C
r. r.
J. Amount Particu J. Amount (
Date Particulars Date
F. (Rs) lars F. Rs)
2017 2017
Mar. Mar. Purchas
Cash A/c 14,850 30,000
15 04 es A/c
Mar. Discount
150
15 Received A/c
Mar.
Balance c/d 15,000
31
30,000 30,000
2017
Apr. Balance
15,000
01 b/d
Purchases Return Account
C
Dr.
r.
Date Particul J. Amou Date Particul J. Amount (
ars F. nt ars F. Rs)
 (Rs)
2017 2017
Mar. Balance Mar. Raghu’s
4,000 4,000
31 c/d 06 A/c
4,000 4,000
2017
Apr. Balance
4,000
01 b/d
Discount Received Account
D C
r. r.
Particul J. Amount Particul J. Amount
Date Date
ars F. (Rs) ars F. (Rs)
2017 2017
Mar. Balance Mar. Raghu’s
650 500
31 c/d 08 A/c
Mar. Dilip’s
150
15 A/c
650 650
2017
Apr. Balance
650
01 b/d
Discount Allowed Account
C
Dr.
r.
Amo
J. Amount Particu J.
Date Particulars Date unt
F. (Rs) lars F.
(Rs)
2017 2017
Mahesh
Mar. Mar. Balance
Chand & 200 200
13 31 c/d
Co.
200 200
2017
Apr.
Balance b/d 200
01
Mahesh Chand & Co.
D C
r. r.
Dat Particu J. Amount Dat Particu J. Amount
e lars F. (Rs) e lars F. (Rs)
201 201
7 7
Mar. Sales Mar Cash
30,400 19,800
10 A/c .13 A/c
Discou
Mar nt
200
.13 Allowe
d A/c
Mar Balance
10,400
.31 c/d
30,400 30,400
201
7
Apr. Balance
10,400
01 b/d
Rent Account
D C
r. r.
Amo Amo
Dat Particula J. Dat Particu J.
unt unt
e rs F. e lars F.
(Rs) (Rs)
201 201
7 7
Mar Mar Balanc
Cash A/c 1,500 1,500
.25 .31 e c/d
1,500 1,500
201
7
Apr. Balance
1,500
01 b/d
Commission Account
C
Dr.
r.
Amo Amo
Dat Particu J. Dat Particular J.
unt unt
e lars F. e s F.
(Rs) (Rs)
201 201
 7 7
Mar Balance Mar
2,000 Cash A/c 2,000
.31 c/d .26
2,000 2,000
201
7
Apr. Balance
2,000
01 b/d
Drawings Account
D C
r. r.
Amou Amou
Particul J. Particul J.
Date nt Date nt
ars F. ars F.
(Rs) (Rs)
2017 2017
Mar. Cash Mar. Balance
6,200 6,200
28 A/c 31 c/d
6,200 6,200
2017
Apr. Balance
6,200
01 b/d
Sales Account
D C
r. r.
Amo Amo
Particu J. J.
Date unt Date Particulars unt
lars F. F.
(Rs) (Rs)
2017 2017
Mar. Balance 73,40 Mar. Mahesh 30,40
31 c/d 0 10 Chand & Co. 0
Mar. 25,00
Cash A/c
20 0
Mar. 18,00
Cash A/c
24 0
73,40 73,40
0 0
2017
Apr. 73,40
Balance b/d
01 0
 Trial Balance as on March 31, 2017
Name of Debit Credit
L.
Account Balances Amoun Balances Amoun
F.
s t (Rs) t (Rs)
Cash A/c 64,750
Capital
80,000
A/c
Purchase
88,000
s A/c
Machiner
4,000
y A/c
Dilip’s
15,000
A/c
Purchase
s Return 4,000
A/c
Discount
Received 650
A/c
Discount
Allowed 200
A/c
Mahesh
Chand & 10,400
Co.
Rent A/c 1,500
Commiss
2,000
ion A/c
Drawings
6,200
A/c
Sales A/c 73,400
Total 1,75,050 1,75,050