Question -

The following balances of ledger of M/s MarbleTraders on May 01, 2017

₹

Cash in hand

6,000

Cash at bank

12,000

Bills receivable

7,000

Ramesh (Cr.)

3,000

Stock (Goods)

5,400

Bills payable

2,000

Rahul (Dr.)

9,700

Himanshu (Dr.)

10,000

Transactions during the month were:

May

₹

01

Goods sold to Manish

3,000

02

Purchased goods from Ramesh

8,000

03

Received cash from Rahul in full settlement

9,200

05

Cash received from Himanshu on account

4,000

06

paid to Ramesh by cheque

6,000

08

Rent paid by cheque

1,200

10

Cash received from Manish

3,000

12

Cash sales

6,000

14

Goods returned to Ramesh

1,000

15

Cash paid to Ramesh in full settlement

3,700

Discount received

300

18

Goods sold to Kushal

10,000

20

Paid trade expenses

200

21

Drew for personal use

1,000

22

Goods return from Kushal

1,200

24

Cash received from Kushal

6,000

26

Paid for stationery

100

27

Postage charges

60

28

Salary Paid

2,500

29

Goods purchased from Sheetal Traders

7,000

30

Sold goods to Kirit

6,000

Goods purchased from Handa Traders

5,000

Journalise the above transactions and post them tothe ledger.

Answer -

Books of M/s. Marble Traders
Journal
Date	Particulars			L.F.	Debit Amount ₹	Credit Amount ₹
2017	Cash A/c		Dr.		6,000
May.01	Bank A/c		Dr.		12,000
	Bills Receivable A/c		Dr.		7,000
	Stock A/c		Dr.		5,400
	Rahul’s A/c		Dr.		9,700
	Himanshu A/c		Dr.		10,000
		To Ramesh’s A/c				3,000
		To Bills Payable A/c				2,000
		To Capital A/c (Balancing figure )				45,100
	(Balance brought from last year)

May.01	Manish		Dr.		3,000
		To Sales A/c				3,000
	(Goods sold to Manish)

May.02	Purchases A/c		Dr.		8,000
		To Ramesh				8,000
	(Goods purchased from Ramesh)

May.03	Cash A/c		Dr.		9,200
	Discount Allowed A/c		Dr.		500
		To Rahul				9,700
	(Cash received from Rahul and discount allowed)

May. 05	Cash A/c		Dr.		4,000
		To Himanshu				4,000
	(Cash received from Himanshu)

May.06	Ramesh		Dr.		6,000
		To Bank A/c				6,000
	(Cheque issued to Ramesh)

May. 08	Rent A/c		Dr.		1,200
		To Bank A/c				1,200
	(Rent paid by cheque)

May.10	Cash A/c		Dr.		3,000
		To Manish				3,000
	(Cash received from Manish)

May.12	Cash A/c		Dr.		6,000
		To Sales A/c				6,000
	(Goods sold for cash)

May.14	Ramesh		Dr.		1,000
		To Purchases Return A/c				1,000
	(Goods returned to Ramesh)

May.15	Ramesh		Dr.		4,000
		To Cash A/c				3,700
		To Discount Received A/c				300
	(Cash paid to Ramesh and discount received)

May.18	Kushal		Dr.		10,000
		To Sales A/c				10,000
	(Goods sold to Kushal)

May.20	Trade Expenses A/c		Dr.		200
		To Cash A/c				200
	(Trade expenses paid)

May.21	Drawings A/c		Dr.		1,000
		To Cash A/c				1,000
	(Cash withdrawn for personal use)

May.22	Sales Return A/c		Dr.		1,200
		To Kushal				1,200
	(Kushal returned goods)

May.24	Cash A/c		Dr.		6,000
		To Kushal				6,000
	(Cash received from Kushal)

May.26	Stationery A/c		Dr.		100
		To Cash A/c				100
	(Stationery paid)

May.27	Postages A/c		Dr.		60
		To Cash A/c				60
	(Postage charges paid)

May.28	Salaries A/c		Dr.		2,500
		To Cash A/c				2,500
	(Salary paid)

May.29	Purchases A/c		Dr.		7,000
		To Sheetal Traders				7,000
	(Goods purchased from Sheetal Traders)

May.30	Kirit		Dr.		6,000
		To Sales A/c				6,000
	(Goods sold to Kirit)

May.30	Purchases A/c		Dr.		5,000
		To Handa Traders				5,000
	(Goods purchased from Handa Traders)
	Total				1,35,060	1,35,060

Ledger
Cash Account
Dr.							Cr.
Date	Particulars	J.F.	Amount ₹	Date	Particulars	J.F.	Amount ₹
2017				2017
May.01	Balance b/d		6,000	May.15	Ramesh		3,700
May.03	Rahul		9,200	May.20	Trade Expenses		200
May.05	Himanshu		4,000	May.21	Drawings		1,000
May.10	Manish		3,000	May.26	Stationary		100
May.12	Sales		6,000	May.27	Postage		60
May.24	Kushal		6,000	May.28	Salaries		2,500
				May.30	Balance c/d		26,640
			34,200				34,200

Bank Account
Dr.							Cr.
Date	Particulars	J.F.	Amount ₹	Date	Particulars	J.F.	Amount ₹
2017				2017
May.01	Balance b/d		12,000	May.06	Ramesh		6,000
				May.08	Rent		1,200
				May.30	Balance c/d		4,800
			12,000				12,000

Bills Receivable Account
Dr.							Cr.
Date	Particulars	J.F.	Amount ₹	Date	Particulars	J.F.	Amount ₹
2017				2017
May.01	Balance b/d		7,000
				May.30	Balance c/d		7,000
			7,000				7,000

Stock Account
Dr.							Cr.
Date	Particulars	J.F.	Amount ₹	Date	Particulars	J.F.	Amount ₹
2017				2017
May.01	Balance b/d		5,400
				May.30	Balance c/d		5,400
			5,400				5,400

Rahul’s Account
Dr.							Cr.
Date	Particulars	J.F.	Amount ₹	Date	Particulars	J.F.	Amount ₹
2017				2017
May.01	Balance b/d		9,700	May.03	Cash		9,200
				May.03	Discount Allowed		500
			9,700				9,700

Himanshu’s Account
Dr.							Cr.
Date	Particulars	J.F.	Amount ₹	Date	Particulars	J.F.	Amount ₹
2017				2017
May.01	Balance b/d		10,000	May.05	Cash		4,000
				May.30	Balance c/d		6,000
			10,000				10,000

Ramesh’s Account

Dr.

Cr.

Date

Particulars

J.F.

Amount

₹

Date

Particulars

J.F.

Amount

₹

2017

May.06

Bank

6,000

May.01

Balance b/d

3,000

May.14

Purchases Return

1,000

May.02

Purchases

8,000

May.15

Cash

3,700

May.15

Discount Received

300

11,000

Bills Payable Account
Dr.							Cr.
Date	Particulars	J.F.	Amount ₹	Date	Particulars	J.F.	Amount ₹
2017				2017
				May.01	Balance b/d		2,000
May.30	Balance c/d		2,000
			2,000				2,000

Capital Account
Dr.							Cr.
Date	Particulars	J.F.	Amount ₹	Date	Particulars	J.F.	Amount ₹
2017				2017
				May.01	Balance b/d		45,100
May.30	Balance c/d		45,100
			45,100				45,100

Manish’s Account
Dr.							Cr.
Date	Particulars	J.F.	Amount ₹	Date	Particulars	J.F.	Amount ₹
2017				2017
May.01	Sales		3,000	May.10	Cash		3,000

			3,000				3,000

Sales Account
Dr.							Cr.
Date	Particulars	J.F.	Amount ₹	Date	Particulars	J.F.	Amount ₹
2017				2017
				May.01	Manish		3,000
				May.12	Cash		6,000
				May.18	Kushal		10,000
May.30	Balance c/d		25,000	May.30	Kirit		6,000
			25,000				25,000

Purchases Account
Dr.							Cr.
Date	Particulars	J.F.	Amount ₹	Date	Particulars	J.F.	Amount ₹
2017				2017
May.02	Ramesh		8,000
May.29	Sheetal Traders		7,000
May.30	Handa Traders		5,000	May.30	Balance c/d		20,000
			20,000				20,000

Discount Allowed Account
Dr.							Cr.
Date	Particulars	J.F.	Amount ₹	Date	Particulars	J.F.	Amount ₹
2017				2017
May.03	Rahul		500
				May.30	Balance c/d		500
			500				500

Rent Account
Dr.							Cr.
Date	Particulars	J.F.	Amount ₹	Date	Particulars	J.F.	Amount ₹
2017				2017
May.08	Bank		1,200
				May.30	Balance c/d		1,200
			1,200				1,200

Discount Received Account
Dr.							Cr.
Date	Particulars	J.F.	Amount ₹	Date	Particulars	J.F.	Amount ₹
2017				2017
				May.15	Ramesh		300
May.30	Balance c/d		300
			300				300

Kushal’s Account
Dr.							Cr.
Date	Particulars	J.F.	Amount ₹	Date	Particulars	J.F.	Amount ₹
2017				2017
May.18	Sales		10,000	May.22	Sales Return		1,200
				May.24	Cash		6,000
				May.30	Balance c/d		2,800
			10,000				10,000

Trade Expenses Account
Dr.							Cr.
Date	Particulars	J.F.	Amount ₹	Date	Particulars	J.F.	Amount ₹
2017				2017
May.20	Cash		200
				May.30	Balance c/d		200
			200				200

Drawing’s Account
Dr.							Cr.
Date	Particulars	J.F.	Amount ₹	Date	Particulars	J.F.	Amount ₹
2017				2017
May.21	Cash
			1,000	May.30	Balance c/d		1,000
			1,000				1,000

Sales Return Account
Dr.							Cr.
Date	Particulars	J.F.	Amount ₹	Date	Particulars	J.F.	Amount ₹
2017				2017
May.22	Kushal		1,200
				May.30	Balance c/d		1,200
			1,200				1,200

Stationery Account
Dr.							Cr.
Date	Particulars	J.F.	Amount ₹	Date	Particulars	J.F.	Amount ₹
2017				2017
May.26	Cash		100
				May.30	Balance c/d		100
			100				100

Postages Account
Dr.							Cr.
Date	Particulars	J.F.	Amount ₹	Date	Particulars	J.F.	Amount ₹
2017				2017
May.27	Cash		60
				May.30	Balance c/d		60
			60				60

Salaries Account
Dr.							Cr.
Date	Particulars	J.F.	Amount ₹	Date	Particulars	J.F.	Amount ₹
2017				2017
May.28	Cash		2,500
				May.30	Balance c/d		2,500
			2,500				2,500

Sheetal Trader’s Account
Dr.							Cr.
Date	Particulars	J.F.	Amount ₹	Date	Particulars	J.F.	Amount ₹
2017				2017
				May.29	Purchases		7,000
May.30	Balance c/d		7,000
			7,000				7,000

Handa Trader’s Account
Dr.							Cr.
Date	Particulars	J.F.	Amount ₹	Date	Particulars	J.F.	Amount ₹
2017				2017
				May.30	Purchases		5,000
May.30	Balance c/d		5,000
			5,000				5,000

Purchases Return Account
Dr.							Cr.
Date	Particulars	J.F.	Amount ₹	Date	Particulars	J.F.	Amount ₹
2017				2017
				May.14	Ramesh		1,000
May.30	Balance c/d		1,000
			1,000				1,000

Kirit’s Account
Dr							Cr.
Date	Particulars	J.F.	Amount ₹	Date	Particulars	J.F.	Amount ₹
2017				2017
May.30	Sales		6,000
				May.30	Balance c/d		6,000
			6,000				6,000

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Free - Previous Years Question Papers

	₹
Cash in hand	6,000
Cash at bank	12,000
Bills receivable	7,000
Ramesh (Cr.)	3,000
Stock (Goods)	5,400
Bills payable	2,000
Rahul (Dr.)	9,700
Himanshu (Dr.)	10,000

May		₹
01	Goods sold to Manish	3,000
02	Purchased goods from Ramesh	8,000
03	Received cash from Rahul in full settlement	9,200
05	Cash received from Himanshu on account	4,000
06	paid to Ramesh by cheque	6,000
08	Rent paid by cheque	1,200
10	Cash received from Manish	3,000
12	Cash sales	6,000
14	Goods returned to Ramesh	1,000
15	Cash paid to Ramesh in full settlement	3,700
	Discount received	300
18	Goods sold to Kushal	10,000
20	Paid trade expenses	200
21	Drew for personal use	1,000
22	Goods return from Kushal	1,200
24	Cash received from Kushal	6,000
26	Paid for stationery	100
27	Postage charges	60
28	Salary Paid	2,500
29	Goods purchased from Sheetal Traders	7,000
30	Sold goods to Kirit	6,000
	Goods purchased from Handa Traders	5,000

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