1 Q.

Pass the necessary journal entries and post them in Bank & Cash ledgers for the following
transactions:

1. The business started with $ 100,000

2. Bought equipment for $15,000 and stationary for $10,000
3. Purchased goods of $ 20,000 with credit
4. Bought furniture for $ 500
5. Cash deposited into bank $ 40,000
6. Goods sold to Denny for $12,000
7. Purchased goods from Hannah of $ 13,000
8. Being $ 7,000 rent paid for premises by transfer
9. Cheque received from Denny of $12,000
10.Defective goods returned to Denny returned of $ 2,000
11.Cash sales of $ 25,000
12.Carriage Inward paid $ 700
13.Cash withdrawn from bank $ 15,000
14.Full payment made to Denny in cash. Discount received from Denny $ 800.
15.Complimentary refreshment given to customers of $ 200
16.Goods sold to Selvia for $ 7,500
17.Goods purchased from Barrack of $ 50,000
18.Salaries paid to employees by cash $ 5,000
19.Good sold to Siri for $ 25,000 , paid in cash $10,000 and remaining on credit
20.Insurance premium paid of $ 1,500 by the bank.
Date Description L.F No Debit Credit
CASH LEDGER

Date Particulars J.F No Amount Date Particulars J.F No Amount

BANK LEDGER

Date Particulars J.F No Amount Date Particulars J.F No Amount

2. Record the following transactions in the purchases book.2013
March 4 bought goods from ABC worth $2,500, invoice #2211
March 6 goods bought from DEF worth $6,500, invoice #71234
March 11 bought goods from GHI worth $5,000 @ trade discount 10%, invoice #890345
March 14 purchased goods from JKL $1,300, invoice #45634
March 17 purchases $4,000
March 19 purchased goods from MNO $1,200, invoice #22334
March 25 purchased goods from PQR $1,800, invoice #10897
Note: March 17th transaction is cash purchases

Date Trade Invoice Invoice details Amount

payables number
details
3Q. Prepare sales book and sales returns book from the following. – 2013
May 1 Sold goods to Rahul $8,500
May 3 Sold goods to Manish $6,000
May 8 Returned goods by Rahul $700
May 11 Sold goods to Raj $12,000
May 14 Sold goods to Bhanu $11,000
May 17 Returned goods from Raj $ 2,000
May 21 Sold goods to Anand $ 9,000

SALES JOURNAL
Date Accounts Invoice number Invoice Details Amount
Receivables

TOTAL $

SALES RETURNS JOURNAL

Date Accounts Invoice number Invoice Details Amount

Payables