Experts please help me ,

provide 15-20 transactions of a business entity and prepare journal entries , ledger , trial balance and final accounts for those , please help

Following are transactions of M/s Rajesh Traders:

Date

Particular

2012

 

April 1

Rajesh started his business with cash Rs 1,00,000

April 10

Rajesh opened an account in a bank with cash Rs 30,000

May 10

Purchased goods from Mohan Singh on credit Rs 40,000 and also paid carriage of Rs 2,000

May 20

Sold goods to Rajeev Rs 20,000

May 25

Due to some quality defect Mohan Singh returned goods of Rs 10,000

June 15

Sold goods to Ayesha for Rs 70,000

June 30

Paid rent of Rs 10,000

Aug.31

Purchased Furniture for cash of Rs 8,000

Sept.10

Paid through a cheque of Rs 5,000 for advertisement

Oct.05

Withdrawn Rs 6,000 from Bank for personal use

Nov.30

Recovered Rs 65,000 from Ayesha in full settlement of his account

Dec.12

Goods costing Rs 1,000 donated to NGO

Dec.31

Salaries paid to employees Rs 15,000

2013

 

Jan.15

Interest received from Bank Rs 2,000

Feb.10

Rajeev has become insolvent Rs 80 paisa in the rupees on a debt of Rs 20,000 was recovered as a compensation

March 31

Stock of good at end of the year is Rs 32,000

 

Journalize above transaction, post them in ledgers, prepare Trial Balance and Financial Statements for year ending March 31, 2013

 

Books of M/s Rajesh Traders

Journal

Date

Particulars

L.F.

Debit

Amount

(Rs)

Credit

Amount

(Rs)

2012

 

 

 

 

 

April 01

Cash A/c

Dr.

 

1,00,000

 

 

To Capital A/c

 

 

 

1,00,000

 

(Business started with cash of Rs 1,00,000)

 

 

 

 

 

 

 

 

 

 

April 10

Bank A/c

Dr.

 

30,000

 

 

To Cash A/c

 

 

 

30,000

 

(Opened a Bank Account)

 

 

 

 

 

 

 

 

 

 

May 10

Purchase A/c

Dr.

 

40,000

 

 

To Mohan Singh

 

 

 

40,000

 

(Goods Purchased on credit)

 

 

 

 

 

 

 

 

 

 

May 10

Carriage A/c

Dr.

 

2,000

 

 

To Cash A/c

 

 

 

2,000

 

(Carriage paid on purchase of goods)

 

 

 

 

 

 

 

 

 

 

May 20

Rajeev

Dr.

 

20,000

 

 

To Sales A/c

 

 

 

20,000

 

(Goods sold to Rajeev)

 

 

 

 

 

 

 

 

 

 

May 25

Mohan Singh

Dr.

 

10,000

 

 

To Purchase Return A/c

 

 

 

10,000

 

(Goods returned by Mohan Singh)

 

 

 

 

 

 

 

 

 

 

June 15

Ayesha

Dr.

 

70,000

 

 

To Sales A/c

 

 

 

70,000

 

(Goods Sold to Ayesha)

 

 

 

 

 

 

 

 

 

 

June 30

Rent A/c

Dr.

 

10,000

 

 

To Cash A/c

 

 

 

10,000

 

(Rent Paid)

 

 

 

 

 

 

 

 

 

 

Aug.31

Furniture A/c

Dr.

 

8,000

 

 

To Cash A/c

 

 

 

8,000

 

(Furniture purchased)

 

 

 

 

 

 

 

 

 

 

Sept.10

Advertisement A/c

Dr.

 

5,000

 

 

To Bank A/c

 

 

 

5,000

 

(Advertisement expenses paid through cheque)

 

 

 

 

 

 

 

 

 

 

Oct.05

Drawing A/c

Dr.

 

6,000

 

 

To Bank

 

 

 

6,000

 

(Withdrawn from bank for personal use)

 

 

 

 

 

 

 

 

 

 

Nov.30

Cash A/c

Dr.

 

65,000

 

 

Discount Allowed A/c

Dr.

 

5,000

 

 

To Ayesha

 

 

 

70,000

 

(Recovered from Ayesha in full settlement of his account)

 

 

 

 

 

 

 

 

 

 

Dec.12

Donation A/c

Dr.

 

1,000

 

 

To Purchases A/c

 

 

 

1,000

 

(Goods of Rs 1,000 donated to NGO)

 

 

 

 

 

 

 

 

 

 

Dec.31

Salaries A/c

Dr.

 

15,000

 

 

To Cash A/c

 

 

 

15,000

 

(Salaries Paid to employees)

 

 

 

 

 

 

 

 

 

 

2013

 

 

 

 

 

Jan.15

Bank A/c

Dr.

 

2,000

 

 

To Interest A/c

 

 

 

2,000

 

(Interest received)

 

 

 

 

 

 

 

 

 

 

Feb.10

Cash A/c

Dr.

 

16,000

 

 

Bad debt A/c

Dr.

 

4,000

 

 

To Rajeev A/c

 

 

 

20,000

 

(Cash compensation of 80 paise in the rupees received from Rajeev)

 

 

 

 

 

 

 

 

 

 

Mar.31

Closing Stock A/c

Dr.

 

32,000

 

 

To Trading A/c

 

 

 

32,000

 

(Closing stock transferred in account)

 

 

 

 

 

 

 

 

 

 

       

 

Cash Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2012

 

 

 

2012

 

 

 

April.01

Capital A/c

 

1,00,000

April 10

Bank A/c

 

30,000

Nov.30

Ayesha

 

65,000

May 10

Carriage A/c

 

2,000

2013

 

 

 

June 30

Rent A/c

 

10,000

Feb.10

Rajeev

 

16,000

Aug.31

Furniture A/c

 

8,000

 

 

 

 

Dec.31

Salaries A/c

 

15,000

 

 

 

 

2013

 

 

 

 

 

 

 

Mar.31

Balance c/d

 

1,16,000

 

 

 

1,81,000

 

 

 

1,81,000

 

 

 

 

 

 

 

 

          

 

Bank A/c

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2012

 

 

 

2012

 

 

 

April 10

Cash A/c

 

30,000

Sept.10

Advertisement A/c

 

5,000

 

 

 

 

Oct.05

Drawings A/c

 

6,000

2013

 

 

 

2013

 

 

 

Jan.15

Interest A/c

 

2,000

Mar.31

Balance c/d

 

21,000

 

 

 

32,000

 

 

 

32,000

 

 

 

 

 

 

 

 

          

 

 

 

Mohan Singh

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2012

 

 

 

2012

 

 

 

May 25

Purchase Return

 

10,000

May 10

Purchases A/c

 

40,000

2013

 

 

 

 

 

 

 

Mar 31

Balance c/d

 

30,000

 

 

 

 

 

 

 

40,000

 

 

 

40,000

 

 

 

 

 

 

 

 

          

 

Purchases A/c

Dr.

 

Cr.

 

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2012

 

 

 

2012

 

 

 

May 10

Mohan Singh

 

40,000

Dec.12

Donation A/c

 

1,000

 

 

 

 

2013

 

 

 

 

 

 

 

Mar.31

Balance c/d

 

39,000

 

 

 

40,000

 

 

 

40,000

 

 

 

 

 

 

 

 

           

 

Bad Debts A/c

Dr.

 

Cr.

 

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2013

 

 

 

2013

 

 

 

Feb.10

Rajeev

 

4,000

Mar.31

Balance c/d

 

4,000

 

 

 

4,000

 

 

 

4,000

 

 

 

 

 

 

 

 

           

 

Note:- Due to paucity of time we are preparing some of the ledgers. Rest of the ledgers try to prepare yourself.

 

Trial Balance as at March 31, 2013

S.No.

Name of Accounts

L.F.

Debit

Amount

(Rs)

Credit

Amount

(Rs)

1

Cash A/c

 

1,16,000

 

2

Capital A/c

 

 

1,00,000

3

Bank A/c

 

21,000

 

4

Purchases A/c

 

39,000

 

5

Sales A/c

 

 

90,000

6

Purchases Return A/c

 

 

10,000

7

Mohan Singh

 

 

30,000

8

Carriage A/c

 

2,000

 

9

Rent A/c

 

10,000

 

10

Furniture A/c

 

8,000

 

11

Advertisement A/c

 

5,000

 

12

Drawings A/c

 

6,000

 

13

Discount Allowed A/c

 

5,000

 

14

Donation A/c

 

1,000

 

15

Salaries A/c

 

15,000

 

16

Interest A/c

 

 

2,000

17

Bad Debts A/c

 

4,000

 

 

 

 

 

 

 

 

 

2,32,000

2,32,000

 

 

 

 

 

 

Financial Statements for the year ended March 31, 2013

Trading Account

 

Dr.

 

Cr.

Particulars

Amount

(Rs)

Particulars

Amount

(Rs)

 

Purchases

39,000

 

Sales

90,000

 

Less: Purchases Return

(10,000)

29,000

Closing Stock

32,000

 

Carriage

2,000

 

 

 

Gross Profit (Balancing Figure)

91,000

 

 

 

 

 

 

 

 

 

1,22,000

 

1,22,000

 

 

 

 

 

 

        

 

Profit and Loss Account

 

Dr.

 

Cr.

Particulars

Amount

(Rs)

Particulars

Amount

(Rs)

 

Rent

10,000

Gross Profit

91,000

 

Advertisement

5,000

Interest

2,000

 

Discount Allowed

5,000

 

 

 

Donations

1,000

 

 

 

Salaries

15,000

 

 

 

Bad Debts

4,000

 

 

 

Net Profit (Balancing Figure)

53,000

 

 

 

 

 

 

 

 

 

93,000

 

93,000

 

 

 

 

 

 

       

 

Balance Sheet

as on March 31, 2013

Liabilities

Amount

(Rs)

Assets

Amount

(Rs)

Capital

1,00,000

 

Fixed Assets:

 

Less: Drawings

(6,000)

 

Furniture

8,000

Add: Net Profit

53,000

1,47,000

 

 

 

 

Current Assets:

 

Current Liabilities:

 

Cash

1,16,000

Creditors:

 

Bank

21,000

Mohan Singh

30,000

Closing Stock

32,000

 

1,77,000

 

1,77,000

 

 

 

 

 

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