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Question -

Prepare proper subsidiary books and post them to the ledger from the following transactions for the month of January 2017:

 

 

01

Goods sold to Sachin

5,000

04

Purchase from Kushal Traders

2,480

06

Sold goods to Manish Traders

2,100

07

Sachin returned goods

600

08

Returns to Kushal Traders

280

10

Sold to Mukesh

3,300

14

Purchased from Kunal Traders

5,200

15

Furniture purchased from Tarun

3,200

17

Bought of Naresh

4,060

20

Return to Kunal Traders

200

22

Return inwards from Mukesh

250

24

Purchased goods from Kirit & Co. for list price of

5,700

 

less 10% trade discount

 

25

Sold to Shri Chand goods

6,600

 

less 5% trade discount

 

26

Sold to Ramesh Brothers

4,000

28

Return outwards to Kirit and Co.

1,000

 

less 10% trade discount

 

28

Ramesh Brothers returned goods ₹ 500.

 



Answer -

 

Journal

Purchases Book

Date

Invoice

No.

Name of Supplier

 (Accounts to be credited) 

L.F.

Amount

 ₹

2017

Jan.04

Kushal Traders

2,480

Jan.14

Kunal Traders

5,200

Jan.17

Naresh

4,060

Jan.24

Kirit and Co.

5,700

Less: Trade Discount 10%

(570)

5,130

Purchases Account

16,870

 

Sales Book

Date

Invoice

No.

Name of Customer

(Accounts to be debited)

L.F.

Amount

 ₹

2017

Jan. 01

Sachin

5,000

Jan.06

Manish Traders

2,100

Jan.10

Mukesh

3,300

Jan.25

Shri Chand

6,600

Less: 5% Trade Discount

(330)

6,270

Jan.26

Ramesh Brothers

4,000

Sales Account

20,670

 

Sales Return Book

Date

Credit

Note

Name of Customer

 (Accounts to be credited)

L.F.

Amount

 ₹

2017

Jan.07

Sachin

600

Jan.22

Mukesh

250

Jan.28

Ramesh Brothers

500

Sales Return Account

1,350

 

Purchases Return Book

Date

Debit

Note

Name of Supplier

(Accounts to be debited) 

L.F.

Amount

2017

Jan.08

Kushal Traders

280

Jan.20

Kunal Traders

200

Jan.28

Kirit and Co.

1,000

Less: 10% Trade Discount

(100)

900

Sales Return A/c

1,380

 

Journal Proper

Date

Particulars

L.F.

Debit

Amount

Credit

Amount

2017

 

Jan.15

Furniture A/c

Dr.

3,200

To Tarun

3,200

(Furniture purchased from Tarun)

 

Ledger

Purchases Account

Dr.

Cr.

Date

Particulars

J.F.

Amount

 ₹

Date

Particulars

J.F.

Amount

2017

2017

Jan.28

Sundries as per Purchases

Book

16,870

Jan.28

Balance c/d

16,870

16,870

16,870

 

Sales Account

Dr.

Cr.

Date

Particulars

J.F.

Amount

 ₹

Date

Particulars

J.F.

Amount

2017

2017

Jan.28

Sundries as per Sales Book

20,670

Jan.28

Balance c/d

20,670

20,670

20,670

 

Sales Return Account

Dr.

Cr.

Date

Particulars

J.F.

Amount

Date

Particulars

J.F.

Amount

2017

2017

Jan.28

Sundries as per Sales Return Book

1,350

Jan.28

Balance c/d

1,350

1,350

1,350

 

Purchases Return Account

Dr.

Cr.

Date

Particulars

J.F.

Amount

Date

Particulars

J.F.

Amount

2017

2017

Jan.28

Sundries as per Purchases Return Book

1,380

Jan.28

Balance c/d

1,380

1,380

1,380

 

Sachin’s Account

Dr.

Cr.

Date

Particulars

J.F.

Amount

Date

Particulars

J.F.

Amount

2017

2017

Jan.01

Sales

5,000

Jan.07

Sales Return

600

Jan.28

Balance c/d

4,400

5,000

5,000

 

Kushal Traders’ Account

Dr.

Cr.

Date

Particulars

J.F.

Amount

Date

Particulars

J.F.

Amount

 ₹

2017

2017

Jan.08

Purchases Return

280

Jan.04

Purchases

2,480

Jan.28

Balance c/d

2,200

2,480

2,480

 

Manish Traders’ Account

Dr.

Cr.

Date

Particulars

J.F.

Amount

 ₹

Date

Particulars

J.F.

Amount

 ₹

2017

2017

Jan.06

Sales

2,100

Jan.28

Balance c/d

2,100

2,100

2,100

 

Mukesh’s Account

Dr.

Cr.

Date

Particulars

J.F.

Amount

Date

Particulars

J.F.

Amount

2017

2017

Jan.10

Sales

3,300

Jan.22

Sales Return

250

Jan.28

Balance c/d

3,050

3,300

3,300

 

Kunal Traders’ Account

Dr.

Cr.

Date

Particulars

J.F.

Amount

Date

Particulars

J.F.

Amount

2017

2017

Jan.20

Purchase Return

200

Jan.14

 Purchases

5,200

Jan.28

Balance c/d

5,000

5,200

5,200

 

Furniture Account

Dr.

Cr.

Date

Particulars

J.F.

Amount

 ₹

Date

Particulars

J.F.

Amount

2017

2017

Jan.15

Tarun

3,200

Jan.28

Balance c/d

3,200

3,200

3,200

 

Tarun’s Account

Dr.

Cr.

Date

Particulars

J.F.

Amount

Date

Particulars

J.F.

Amount

2017

2017

Jan.15

Furniture

3,200

Jan.28

Balance c/d

3,200

3,200

3,200

 

Naresh’s Account

Dr.

Cr.

Date

Particulars

J.F.

Amount

Date

Particulars

J.F.

Amount

2017

2017

Jan.17

Purchases

4,060

Jan.28

Balance c/d

4,060

4,060

4,060

 

Kirit & Co. Account

Dr.

Cr.

Date

Particulars

J.F.

Amount

 ₹

Date

Particulars

J.F.

Amount

 ₹

2017

2017

Jan.28

Purchases Return

900

Jan.24

Purchases

5,130

Jan.28

Balance c/d

4,230

5,130

5,130

 

Shri Chand & Co. Account

Dr.

Cr.

Date

Particulars

J.F.

Amount

Date

Particulars

J.F.

Amount

2017

2017

Jan.25

Sales

6,270

Jan.28

Balance c/d

6,270

6,270

6,270

 

Ramesh’s Account

Dr.

Cr.

Date

Particulars

J.F.

Amount

 ₹

Date

Particulars

J.F.

Amount

2017

2017

Jan.26

Sales

4,000

Jan.28

Sales Return

500

Jan.28

Balance c/d

3,500

4,000

4,000

 

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