She withdrew Rs. 5,000 by cheque each month for her personal expenses.
Bank loan was serviced and instalments were paid regularly.
1. Journalise the above post into the prepare the Trial Balance.
2. Prepare the Profit and Loss Account and Balance Sheet. Charge depreciation @ 5% on Building and 10% on Furniture. Closing Stock at the end of the year was Rs. 5,50,000.
3. Prepare a Bar Diagram and/or Pie Charts showing the expenses.
what is journal entry and entry in Cash book
What is cash book? Explain the types of cash book.
authorities ?
a) Cash balance of the firm b) Book value of the fixed assets
c) Credit sales of the year d) Profit generated during the year
can i get solution book of t.s. grewal's double entry book keeping?
2. Ram took a loan from Keshav 25000.
3. Sold 40% of the goods at a mark up of 25% on cost for cash.
4. Paid wages 2000.
5. Rent outstanding 3000.
6. Sold remaining goods to Vijay at a profit of 20% on selling price.
7. Interest due on loan 2500
8. Vijay returned 50% of the goods sold to him.
9. Paid to keshav half amount of the loan together with full interest.
Prepare a Double Column Cash Bank from the following transactions:
Explain how the cashbook with discount and bank column is affected with respect to Bills of Exchange.
Take help of the following transactions if needed-
Thank u so much!
whatis the treatment of cheque endorsement in cash book????
for the month of December, 2011 in the Books of Neel.
2011
Dec. 1 Cash in hand Rs. 2,780; Bank overdraft Rs. 3,125.
Dec. 2 Cheque worth Rs. 400 issued to petty cashier.
Dec. 5 Rs. 350 was paid to Hari & Sons for the supply of stationery on this day.
Dec. 7 Received a cheque worth Rs. 600 from Pramod against sale of goods.
Dec. 10 Received Rs. 1,200 from sale of goods.
Dec. 11 The cheque which was received from Pramod on 7th December, 2011 was
endorsed in favour of Martin together with Rs. 1,400 in cash.
Dec. 26 Bought goods worth Rs. 1,700 from Rustom and paid by cheque after
receiving a discount of Rs. 170.
Dec. 30 Interest on overdraft Rs. 50 was charged by the bank.
2012
April 1:
Assets:Premises rs2,00,000; Delivery Van rs50,000; Fixtures rs5,000; Stock rs75,000
Debtors: Hariharan rs30,000;Rajan rs50,000; Cash at bank rs45,000; Cash in hand rs 15,000
Liabilities:Creditors:Jawahar rs1,00,000; Vikasrs45,000;Telephone Expenses Payable rs4,000; Expenses Payable rs5,000
April 1:Paid rent by cheque rs 5,000
April 2:Goods purchased on credit from prabhat rs15,000;Rajhans rs8,000; passi rs7,000
April 3:Goods sold on credit to rakesh rs17,000;Devender rs5,000;Lalit rs8,000;Vijay rs6,000
April 4:Paid the bill of petrol expenses for delivery van rs5,700
April 5:Cash drawings by rajesh Prabhu rs4,000
April 7:Paid salaries for Month of march,2012 rs7,000
April 9:Cash salesrs5,000
April 11:Goods returned by rakesh rs4,000;Vijay rs1,000
April 12:Recieved cheques from debtors Hariharan rs20,000;Rajan rs40,000
April 16:Goods returned to Prabhat rs4,000;Rajhans rs1,000
April 20:Cheques issued to Creditors:jawahar rs50,000: Vikas rs10,000
April 22 Recieved from Hariharan rs10,000;Rajan rs10,000;Rakesh rs10,000;Devender rs5,000;Cheques recived recieved from rakesh and devender are dated 15th may, 2012
April 24:Cheques from Rakesh and Devender were got discounted from bank paying interest @10%p.a
April 25 Recieved cash from Lalit in full settlement rs 7,800
Please provide Journal, Ledger, Trial Balance, Trading and profit and loss A/c, Balance Sheet and Conclusion????
jan 1 cash in hand -5000
jan 1 bank overdraft -1000
jan 2 paid wages -1500
jan 3 deposited into bank -2000
jan 4 cash sales -7500
jan 5 sold goods for cheque which was deposited in bank on the same day -5000
jan 7 drew from bank for personal use -1000
jan 8 paid to hari on account -3500
jan 9 received from ram who owes Rs.5000,Rs.2000 only on account
What are special purpose subsidiary books?
treatment of reserve fund in trial balance whether debit or credit
January 2013 :
2013
Jan. 3 Purchased on credit from Ambika Mills : (invoice no. 1225)
100 metres long cloth @ Rs. 30 per meter
50 meter shirting @ Rs. 50 per meter
Jan. 8 Purchased for cash from Arbind Mills : (invoice no. 1445)
50 meter Muslin @ Rs. 40 per meter
Jan. 15 Purchased on credit from India Textiles Ltd. (invoice no. 1668)
120 meter Suiting @ Rs. 100 per meter
100 meter Shirting @ Rs. 60 per meter
Jan. 20 Purchased laser printer on credit from
Bharat Computer Ltd. for Rs. 12,800
JOURNAL ENTRY OF PURCHASE OF TIMBER
1. Received cheque from Sona and company after discount of Rs.300 and Rs.35,700 in cheque.
journal entry for
purchase goods for Rs60,000 and paid Rs2,000 for carriage
2.Allowance granted to Kishorefor breakage RS.150
3.Allowance granted to Kumar for over charge Rs.70
What will be the journal entry for each transaction?
In which day books these transactions are recorded? Why? pls explain in details
Prepare proper subsidiary books and post them to the ledger from the following transactions for the month of February 2006:
Rs
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 Rs 500.
Q. record the following tranctions in a suitable cash book of Mr. gupta and show the closing balances of cash and bana:
1. balance of cash Rs.50, bank Rs.3800
2. received from raman Rs. 900 and allowed him discount Rs. 50
3. sold goods for cash Rs.5000 and paid half the amount into bank
4. Paid salaries Rs. 2500 in cash
5. Recovered from the manager Rs. 200 being excess travelling allowances drawn by him
6. settled a debt of Rs.1200 by cheque receiving a discount of 5%
7. drew Rs. 500 from bank and paid a donation to the worker's club
8. discounted a 3 months maturity bill receivable for Rs.1000 at 6% discount
Enter the following transaction in the Cash BOok with cash and bank columns:
2011
June 1 Cash in Hand Rs 800 and Bank Overdraft Rs 5700
June 7 Receieved a cheque from Bharati Rs 3250
JUne 9 Deposited above cheque in the bank
June 12 Paid to bhavna by cheque Rs 2425
june 15 Bharti's cheque dishonored
June 20 withdrew from bank for office use Rs 250
june 25 Cheque received from Panna lal Rs 1200
june 28 Panna Lal's cheque was endorsed in favour of kamal
June 30 Income tax paid by cheque Rs 150
June 30 Bank Charges Rs 25
give journal entry for the below'
1.brokerage due rs.500
2.purchased cow for business rs.20000
Prepare double column cash book from the following transactions for the year December 2005:
Rs
01
Cash in hand
17,500
Cash at bank
5,000
03
Purchased goods for cash
3,000
05
Received cheque from Jasmeet
10,000
08
Sold goods for cash
7,000
10
Jasmeet’s cheque deposited into bank
12
Purchased goods and paid by cheque
20,000
15
Paid establishment expenses through bank
1,000
18
Cash sales
7,000
20
Deposited into bank
10,000
24
Paid trade expenses
500
27
Received commission by cheque
6,000
29
Paid Rent
2,000
30
Withdrew cash for personal use
1,200
31
Salary paid
6,000
Justify your answer
Cash voucher is prepared at the time of receipt of payment of cash or cheque
pass necessary journal entries for the following transactions
opening balance for cash in hand rs.20,000.cash at bank rs 30,000.bills receiable rs 40,000. ram's account(debit balance)rs.50,000.shyams account (credit balance)rs.20,000.outstanding expenses rs.20,000
plz make it urgent
need it badly
2011
Jan 1 Sold goods to Ramesh Rs 525
1 Bought of Hari Ram Rs 780
2 Rameshreturned goods Rs 75
2 Sold to Dina Nath Rs 550
2 Purchased goods from Mangal Rs 700
4 Returned goods to Mangal Rs 100
4 Bought of Devi Dayal Rs 325
4 Sold to Zakir Hussain Rs 350
5 ZakirHussain returned goods Rs 45
6 Sold to Ram Saran Rs 500
6 Sold to Ghanshyam Rs 300
7 Ram Saran returned goods Rs 50
7 Bought of Devi Dayal Rs 700
8 Returned goods to Devi Dayal Rs 75
9 Purchased goods from Raghunath
subject to a trade discount of 10
percent Rs 1,000
10 Sold to Raja Ram goods subject to
trade discount of 5 percent Rs 500
What is difference between trade discount and cash discount?
Will transactions having trade discount and cash discount be recorded in the double column cash book?why?
Prepare a Double Column Cash Book from the following transactions:-2011
April 1 Cash in Hand Rs. 5,000; Overdraft at bank Rs. 15,000.
April 3 Further Capital introduced Rs. 20,000 out of which Rs. 16,000 deposited in the bank.
April 5 Sold goods for cash Rs. 13,000.
April 6 Settled the account of Mohan Rs. 750 by paying cash Rs. 680.
April 10 An amount of Rs. 500 due from Gupta Brothers written off as bad debts in the previous year, now recovered.
April 11 Received a cheque for Rs. 700 from Anil; endorsed to Rahul on 19th April.
April 13 Purchased goods from Manmohan Rs. 10,000.
April 15 Shyam who owed Rs. 400 became bankrupt and paid 60 paise in a rupee.
April 16 Cash purchases Rs. 800 less trade discount 5%.
April 18 Received cheque from Rakesh Rs. 3,450. Allowed him discount Rs. 100.
April 19 Withdrew for office use Rs. 2,000.
April 20 Purchased postage stamps Rs. 50.
April 21 Paid for office furniture Rs. 500.
April 22 Purchased typewriter for Rs. 1,500
April 23 Paid for furniture repair Rs. 150.
April 24 Purchased a mobile for personal use Rs. 4,000.
April 25 Paid for V.P.P of goods from Luckhnow Rs. 275.
April 26 Sent money order to Lakshman Rs. 250.
April 27 Money order commission Rs. 10.
April 28 Received from Ram, who owes Rs. 4,000, Rs. 1,500 only on account.
April 29 Interest allowed by bank Rs. 200.
April 29 Income tax paid by cheque Rs. 1,500.
April 29 Recovered from the Manager Rs. 200 being excess travelling allowance drawn by him.
April 29 Settled a debt of Rs. 1,200 by cheque receiving a discount of 5%.
April 29 Purchased 50 bonds for Rs. 100 each at Rs. 95 each and paid for them by cheque.
April 30 Received a money order Rs. 500. Received Rs. 2,000 for a Bill of Exchange from Hari Ram and deposited the same into bank. Paid Rs. 5,000 on account of repayment of loan from Bank including Rs.1,000 as interest on Loan. Sold goods for Rs. 12,500, received cheque for them, discount allowed 1%. Deposited with the bank the entire balance after retaining Rs. 1,000 at office.
Bank loan and interest repaid in the first year are as follows:
June 30, 2016 = (Rs. 15,000 + Rs. 9,000) interest)
Sept. 30, 2016 = (Rs. 15,000 + Rs. 8,550) interest)
Dec. 31, 2016 = (Rs. 15,000 + Rs. 8,100) interest)
March 31, 2017 = (Rs. 15,000 + Rs. 7,650) interest)
She started business on 1st April. 2016. In view of further capital requirement She transferred Rs. 1,00,000 from her Savings to the Bank Account to the Bank Acoount Of the business. She paid Security Deposit of Rs. 5,000 for the connection with BSES Rajdhani Power Ltd and Rs. 2,000 to MTNL for telephone connection. Furniture for Rs. 10,000 was purchased.
All payments were be made by cheque. All the receipts were in cash to be deposited in the bank on the same day. At the end of the year, their results showed the following:
She withdrew Rs. 5,000 by cheque each month for her personal expenses.
Bank loan was serviced and instalments were paid regularly.
1. Journalise the above post into the prepare the Trial Balance.
2. Prepare the Profit and Loss Account and Balance Sheet. Charge depreciation @ 5% on Building and 10% on Furniture. Closing Stock at the end of the year was Rs. 5,50,000.
3. Prepare a Bar Diagram and/or Pie Charts showing the expenses.
​Q12. A book keeper prepared a trial balance on 31st march, 2013, which showed a difference of Rs. 2,715. The difference was placed to debit of a suspense A/c. The under mentioned error were subsequently discovered :-
a. Rs. 710, the total of sales return book has been posted to the credit of the purchases return account.
b. An item of Rs. 626 written off as a bad-debt from Chanderkant has not been debited to Bad debts account.
c. Goods sold to X and Y for Rs. 1,600 and Rs. 1,200 respectively, but were recorded in the sales book as to X Rs. 1,200 and Y as Rs. 1,600.
d. Goods of Rs. 850 were returned to Bhardwaj. It was recorded in purchases book as Rs. 580.
e. An amount of Rs. 675 for a credit sale to Govind, although correctly entered in the sales book has been wrongly posted as Rs. 756.
f. A sum of Rs. 750 spent on the repairs of an old machinery has been debited to 'Repairs A/c'.
why contra enteries r not posted in the ledger ?
cheque was deposited on 15 march
show the effect on triple column cash book
what is a petty cash book? what are the rules for entering the transactions in it?
2. He took a premises on hire for office and paid as advance rent 15000.
3. He brought goods on credit from ram 30000.
4. He sold half of the goods at a profit of 25% on selling price to deepak
goods distributed as a free sample 2000.
5. He withdraw for personal use goods 2500 and cash 1500.
6. Rent for first month adjusted 5000.
7. He sold remaining goods for cash 9000.
8. Paid to Ram 10000.
Cash sales Rs.80,000 ,credit sales Rs.3,30,000 ; sales return Rs.10,000 ;purchases Rs.2,48,000 ; purshases return Rs.8,000 ; carriage inwards Rs.16,000 ; closing stock Rs.72,000 ; rate of gross profit is 40% on sales.
Under the accrual basis of accounting expenses are recorded on payment
Enter the following transactions in the cash book with cash and bank column
1st jan 2012-cash in hand-4000
cash at bank-12000
4th jan 2012-Sold goods for cash-13200
5th jan 2012-recieved from suresh-2500
6th jan 2012-recieved a cheque from ravi and immediatly depsited into bank-6400(please state the transaction for this)
7th jan 2012-salaries paid by cheque
10th jan 2012-paid sudhir by cheque-5000
12 jan 2012-paid for travelling expenses-120015th jan 2010-cash purchases
16 jan 2012-cash deposited into bank-10000
20th jan 2012-cash sales-15100
purchased machinery and payment made by cheque-6800
21 jan 2012-paid wages for installation of machinery-400
22jan 2012-withdrew from bank for office use-7500
23rd jan 2012-recieved a cheque from anil and deposited it into bank-4600
27th jan 2012-anil's cheque dishonored by bank-4600
28 jan 2012-purchased typewriter and payment made by cheque-8000
30 jan 2012-paid salary-120
31 jan 2012-paid into bank-1200
closing balances. 2013 Rs Jan 1 Cash in hand 50,000 2 Opened a bank account and deposited cash 37,500 3 Purchased a office furniture and paid by cheque 2,500 8 Purchased goods for Rs 2,000, 25% of which paid by cash
Prepare a double column cash book with the help of following information for December 2005 :
Rs
01
Started business with cash
1,20,000
03
Cash paid into bank
50,000
05
Purchased goods from Sushmita
20,000
06
Sold goods to Dinker and received a cheque
20,000
10
Paid to Sushmita cash
20,000
14
Cheque received on December 06, 2005 deposited into bank
18
Sold goods to Rani
12,000
20
Cartage paid in cash
500
22
Received cash from Rani
12,000
27
Commission received
5,000
30
Drew cash for personal use
2,000
2014
april 1 Assets: cash in hand 860
cash in bank 140
leasehold premises 12000
machinery 6000
due from meetu 1460
due from pooja 3540
furniture 2000
Liabilities:loan 2000
due to rakesh 1500
april 2 purchased goods from Ajay 4500
april 3 goods sold 3000
april 4 purchased goods 3700
april 6 purchased goods from ram 7000
april 6 sold goods for cash 3000
april 8 paid for cash purchases 4950
discount allowed to mr. bajaj 50
april 11 received cheque from anil on account 3000
april 16 meetu paid by cheque in full settlement 1400
april 24 drawn from bank for personal use 450
april 30 allowed interest on capital @ 5% p.a. 450
from 1st may 2000 to 30th april 2014
april 30 salaries for the month of april unpaid 750
april 30 rent for the month of april unpaid 250
What is petty cash book? Write the advantages of petty cash book?
in Ts grewal chapter cash book page 9.43 question 15, very confused...we we record endorse and cheque received from panna lal in journal or cash book....On meritnation textbook solution, it records both in cash book...so confused?
Enter the following transactions in double column cash book of M/s Ambica Traders for November 2005:
Rs
01
Commenced business with cash
50,000
03
Opened bank account with ICICI
30,000
05
Purchased goods for cash
10,000
10
Purchased office machine for cash
5,000
15
Sales goods on credit from Rohan and received cheque
7,000
18
Cash sales
8,000
20
Rohan’s cheque deposited into bank
22
Paid cartage by cheque
500
25
Cash withdrawn for personal use
2,000
30
Paid rent by cheque
1,000
Q.1. Prepare a cash book with cash and bank colums :-
Jan. 1CASH in hand 5,000
bank overdraft 1,000
. 2 paid wages 1,500
. 3 deposited into bank 2,000
.4 cash sales 7,500
. 5 sold goods for cheque which was deposited in bank on the same day5,000
. 6purchased goods from harion credit 4,000
. 7 drew frombank for personal use 1,000
.8 paid to hari in full settlemant 3,500
.9 raceived from ram , who owes RS. 5,000 , Rs.2,000 only on account .
what is contra entry for cheque dishonour and office use ................plz reply urgently
Write the difference between return inwards and return outwards.
What is contra entry? How can you deal this entry while preparing double column cash book?
Journalise the following and prepare a double column cash book :
2011
Oct,1 cash in hand = 1800
Overdraft at bank = 10000
Oct,5 discounted a bill of exchange at 1% through bank = 4000
Oct,6 Goods sold to Mr.Manish = 50000
Oct,10 Recieved two cheques from Amrita amounting Rs.5000. Which is crossed and other is bearer amounting = 3000
Oct,15 Bearer cheque of Amrita is endorsed to Mr.Nilesh in full settlement of Rs.3100
Oct,20 Crossed cheque of Amrita is returned dishonoured bu the bank. Also the bank has debited our account with Rs.50 for charges.
Oct,24 Recieved repayment of a loan of Rs.5000 and deposited Rs.3000 out it into bank.
Oct,28 Drawn from bank of personal expenses Rs.200 and for office use Rs.300
Oct,31 Banked all cash keeping a balance of Rs.400 only in hand.
Enter the following transactions in the two columnar cash book with cash, bank columns:
Oct, 2010
Cash in hand Rs. 5,000; Bank overdraft Rs. 9,500.
Sold goods to Ram on credit Rs. 10,000.
Bought goods from Mahesh for Rs. 8,000 and paid by cheque under 2% discount.
Received two cheques from Ram for Rs. 4,000 and for Rs. 6,000.
Cheque received from Ram for Rs. 4,000 was deposited in bank but chque for Rs. 6,000 was endorsed to Sohan in full settlement of his claim for Rs. 6,200.
Withdrew cash from bank for office use Rs. 3,000.
Withdrew cash from bank for domestic use Rs. 2,000.
Bought furniture for Rs. 4,000 and issued cheque. Also paid carriage charges Rs. 100.
Bought goods for cash Rs. 3,000 and paid carriage charges Rs. 50.
Goods sold for cash Rs. 5,000; 60% amount deposited in bank.
Bank charges interest Rs. 500 and bank charges were Rs. 200.
Deposited the cash into bank in excess of Rs. 4,000.
What is the purpose of contra entry?
Briefly state how the cash book is both journal and a ledger?
what is means of sundry expenses
QUE 1 pass the journal entries of M/s. Bhanu Traders.Post them to the Ledger from the following transactions:
What is the Journal Entry for Recieved Cheque from Priya 3250?
And how to post it in the cash book.
Ans....Fastzzzz....
what is the difference betweeen cash book and ledger entry of cash account
Prove that the accounting equation is satisfied in all the following transactions of samson:
(a)Started business with cash 100000 and goods 40000.
(b)Bought goods for cash 30000 and on credit for 20000.
(c)Goods costing 48000 at a profit of 33 1/3%.Half the payment received in cash.
(d)Purchased furniture for office use 12000. and for household use of samson 8000.
what is imprest system of petty cash book?
Define the purpose of maintaining subsidiary journal.