Dear Experts, Icantfigure out this type plzhelpurgntly Enter the following transactions in - Accountancy - Recording of Transactions - II

Question

Dear Experts,
Icantfigure out this type plzhelpurgntly
Enter the following transactions in Journal and post them to Ledger
accounts

R Chetanhas the followingbalancesinhis books
on31stMarch 2012
Cash in HandRs 1540: Cash at Bank Rs 8250; Stock Rs 19250; Plant
& machineryRs 44000
Sundry Debtors:RajeshRs 2750, JamesRs 1375;
Sundry Creditors ;RaoRs 1925, Samantha Rs 3575; CapitalRs
71665

April 1 Cash sales 1925 April 2 Purchased Machinery by Cheque 4675
April 3 Paid salaries by cheque 2750 April 5 Paid wages in cash 440
April 6 Rajeshsettled his account by Cheque less 5% discount April
8 Sold goods on credit tojames 4125 April 10 Sent a credit note to
James Rs 1,100 for goods returned April 12 PaidRaoby cheque 1650
April 13 Received Loan from Bank OfBaroda 13750 April 19 With drawn
from bank for private use 825 April 21 Bought goods on credit from
Samantha 2475 April 21 Paid corporation Tax by cheque 1155 April 28
Bought goods on credit from Samantha 2805 April 29 Cash sales and
paid into bank 3740
Adjustments at the end of the month were;

Depreciation on machinery @ 10%
Closing stockRs 24000
Outstanding salaryRs 4500
Prepaid insuranceRs 900

Manisha Arora · Accepted Answer

Hey, the solution to your query is here

Journal

Date
Particulars
L F
Debit
Amount
(Rs)
Credit
Amount
(Rs)

2012

Apr 01
Cash in hand

1,540

Cash at Bank

8,250

Stock A/c

19,250

Plant and Machinery A/c

44,000

Rajesh

2,750

James

1,375

To Rao

1,925

To Samantha

3,575

To Capital A/c

71,665

(Opening balances brought
down)

Apr 01
Cash A/c
Dr

1,925

To Sales A/c

1,925

(Cash Sales)

Apr 02
Machinery A/c
Dr

4,675

To Bank A/c

4,675

(Machinery purchased)

Apr 03
Salaries A/c
Dr

2,750

To Bank A/c

2,750

(Salaries paid)

Apr 05
Wages A/c
Dr

440

To Cash A/c

440

(Wages paid)

Apr 06
Bank A/c
Dr

2,612 50

Discount Allowed A/c
Dr

137 50

To Rajesh

2,750

(Rajesh settled his account by paying cheque at
discount of 5%)

Apr 08
James
Dr

4,125

To Sales A/c

4,125

(Goods sold on credit)

Apr 10
Sales Return A/c
Dr

1,100

To James

1,100

(goods returned by James)

Apr 12
Rao
Dr

1,650

To Bank A/c

1,650

(Paid to Rao)

Apr 13
Bank A/c
Dr

13,750

To Bank Loan A/c

13,750

(Loan received from Bank of
Boroda)

Apr 19
Drawings A/c
Dr

825

To Bank A/c

825

(Withdrew from bank for private
use)

Apr 21
Purchases A/c
Dr

2,475

To Samantha

2,475

(Goods bought on credit)

Apr 21
Tax A/c
Dr

1,155

To Bank A/c

1,155

(Corporation tax paid)

Apr 28
Purchases A/c
Dr

2,805

To Samantha

2,805

(Goods bought on credit)

Apr 30
Cash A/c
Dr

3,740

To Sales A/c

3,740

(Cash Sales)

Apr 30
Bank A/c
Dr

3,740

To Cash A/c

3,740

(Deposited into the Bank)

Apr 30
Depreciation A/c
Dr

4,867 50

To Plant and Machinery A/c

4,867 50

(Depreciation charged on Plant and
Machinery)

Apr 30
Profit and Loss A/c
Dr

4,867 50

To Depreciation A/c

4,867 50

(Depreciation transferred to Profit and Loss
Account)

Apr 30
Closing Stock A/c
Dr

24,000

To Trading A/c

24,000

(Closing Stock recorded in
books)

4,500

Apr 30
Salary A/c
Dr

4,500

To Outstanding Salary A/c

(Unpaid expenses provided)

Apr 30
Prepaid Insurance Premium
A/c
Dr

900

To Insurance Premium A/c

900

(Insurance Premium related to next year
transferred to Insurance Premium A/c)

Cash Account

Dr

Cr

Date
Particulars
Amount
(Rs)
Date
Particulars
Amount
(Rs)

2012

Apr 01
Balance b/d
1,540
Apr 05
Wages A/c
440

Apr 01
To Sales A/c
1,925
Apr 30
Bank A/c
3,740

Apr 30
To Sales A/c
3,740
Apr 30
Balance c/d
3,025

7,205

Bank Account

Dr

Cr

Date
Particulars
Amount
(Rs)
Date
Particulars
Amount
(Rs)

2012

Apr 01
Balance b/d
8,250
Apr 02
Machinery A/c
4,675

Apr 06
To Rajesh
2,612 50
Apr 12
Rao
1,650

Apr 13
To Bank Loan A/c
13,750
Apr 19
Drawings A/c
825

Apr 30
To Cash A/c
3,740
Apr 21
Tax A/c
1,155

Apr 30
Balance b/d
20,047 50

28,352 50

With the help of ledger accounts given above, you can prepare rest
of the accounts such as Sales A/c, Purchases A/c, Tax Account,
Salaries A/c, Wages A/c, James's A/c, Rajesh's A/c etc
If you find any difficulty then do get back to us We assure you our
help
Keep Posting!!

Bank Account
Dr.						Cr.
Date	Particulars	Amount (Rs)	Date	Particulars	Amount (Rs)
2012			2012
Apr. 01	Balance b/d	8,250	Apr. 02	Machinery A/c	4,675
Apr. 06	To Rajesh	2,612.50	Apr. 12	Rao	1,650
Apr. 13	To Bank Loan A/c	13,750	Apr. 19	Drawings A/c	825
Apr. 30	To Cash A/c	3,740	Apr. 21	Tax A/c	1,155
			Apr. 30	Balance b/d	20,047.50

		28,352.50			28,352.50

Journal
Date	Particulars			L.F.	Debit Amount (Rs)	Credit Amount (Rs)
2012
Apr. 01	Cash in hand				1,540
	Cash at Bank				8,250
	Stock A/c				19,250
	Plant and Machinery A/c				44,000
	Rajesh				2,750
	James				1,375
	To Rao					1,925
	To Samantha					3,575
	To Capital A/c					71,665
	(Opening balances brought down)

Apr. 01	Cash A/c		Dr.		1,925
		To Sales A/c				1,925
	(Cash Sales)

Apr. 02	Machinery A/c		Dr.		4,675
		To Bank A/c				4,675
	(Machinery purchased)

Apr. 03	Salaries A/c		Dr.		2,750
		To Bank A/c				2,750
	(Salaries paid)

Apr. 05	Wages A/c		Dr.		440
		To Cash A/c				440
	(Wages paid)

Apr. 06	Bank A/c		Dr.		2,612.50
	Discount Allowed A/c		Dr.		137.50
		To Rajesh				2,750
	(Rajesh settled his account by paying cheque at discount of 5%)

Apr. 08	James		Dr.		4,125
		To Sales A/c				4,125
	(Goods sold on credit)

Apr. 10	Sales Return A/c		Dr.		1,100
		To James				1,100
	(goods returned by James)

Apr. 12	Rao		Dr.		1,650
		To Bank A/c				1,650
	(Paid to Rao)

Apr. 13	Bank A/c		Dr.		13,750
		To Bank Loan A/c				13,750
	(Loan received from Bank of Boroda)

Apr. 19	Drawings A/c		Dr.		825
		To Bank A/c				825
	(Withdrew from bank for private use)

Apr. 21	Purchases A/c		Dr.		2,475
		To Samantha				2,475
	(Goods bought on credit)

Apr. 21	Tax A/c		Dr.		1,155
		To Bank A/c				1,155
	(Corporation tax paid)

Apr. 28	Purchases A/c		Dr.		2,805
		To Samantha				2,805
	(Goods bought on credit)

Apr. 30	Cash A/c		Dr.		3,740
		To Sales A/c				3,740
	(Cash Sales)

Apr. 30	Bank A/c		Dr.		3,740
		To Cash A/c				3,740
	(Deposited into the Bank)

Apr. 30	Depreciation A/c		Dr.		4,867.50
	To Plant and Machinery A/c					4,867.50
	(Depreciation charged on Plant and Machinery)

Apr. 30	Profit and Loss A/c		Dr.		4,867.50
	To Depreciation A/c					4,867.50
	(Depreciation transferred to Profit and Loss Account)

Apr. 30	Closing Stock A/c		Dr.		24,000
	To Trading A/c					24,000
	(Closing Stock recorded in books)
					4,500
Apr. 30	Salary A/c		Dr.			4,500
	To Outstanding Salary A/c
	(Unpaid expenses provided)

Apr. 30	Prepaid Insurance Premium A/c		Dr.		900
	To Insurance Premium A/c					900
	(Insurance Premium related to next year transferred to Insurance Premium A/c)

Cash Account
Dr.						Cr.
Date	Particulars	Amount (Rs)	Date	Particulars	Amount (Rs)
2012			2012
Apr. 01	Balance b/d	1,540	Apr. 05	Wages A/c	440
Apr. 01	To Sales A/c	1,925	Apr. 30	Bank A/c	3,740
Apr. 30	To Sales A/c	3,740	Apr. 30	Balance c/d	3,025

		7,205			7,205