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Ledger Problemsand

Mr. Ramu operated a business and recorded various transactions in July. These included starting the business with capital, purchasing and selling goods, receiving and making payments. The summary provides a high level overview of the document by listing the key transactions in 3 sentences: The document lists transactions recorded by Mr. Ramu in July for his business, including starting with capital of Rs. 75,000, purchasing and selling goods on credit and for cash, and receiving and making various payments to suppliers and customers. It provides the journal entries for these transactions and posts them to accounts in the ledger, balancing the accounts at the end of the month.

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2K views

Ledger Problemsand

Mr. Ramu operated a business and recorded various transactions in July. These included starting the business with capital, purchasing and selling goods, receiving and making payments. The summary provides a high level overview of the document by listing the key transactions in 3 sentences: The document lists transactions recorded by Mr. Ramu in July for his business, including starting with capital of Rs. 75,000, purchasing and selling goods on credit and for cash, and receiving and making various payments to suppliers and customers. It provides the journal entries for these transactions and posts them to accounts in the ledger, balancing the accounts at the end of the month.

Uploaded by

akbar2j
Copyright
© Attribution Non-Commercial (BY-NC)
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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D

Ledger: Problems & Solutions

Mr. Ramu has the following transactions in the month of July.


Record them into the journal and show postings in the ledger and balance the accounts.
July 1st : Ramu started business with a capital of Rs. 75,000
Purchased goods from Manu on credit Rs. 25,000
1st : Sold goods to Sonu Rs.20,000
2nd : Purchased goods from Meenu for cash Rs. 15,000
3rd : Sold goods to Tanu for cash Rs. 16,000
4th : Goods retuned to Manu Rs. 2,000
5th : Bought furniture for Rs.15,000
6th : Bought goods from Zenu Rs. 12,000
7th : Cash paid to Manu Rs. 10,000
8th : Sold goods to Jane Rs. 13,500
9th : Goods returned from Sonu Rs. 3,000
10th : Cash received from Jane Rs. 5,500
11th : Goods taken by Ramu for domestic use Rs. 3,000
12th : Returned Goods to Zenu Rs. 1,000
13th : Cash received from Sonu Rs. 12,000
14th : Bought machinery for Rs. 18,000
15th : Sold part of the furniture for Rs. 1,000
16th : Cash paid for the purchase of bicycle for Ramus son Rs. 1,500
17th :
19th : Cash sales Rs. 15,000
20th : Cash purchases Rs.13,500

Solution

Hide/Sho
w

Journal in the books of Mr. Ramu for the period from July 1st, 2005 to July 30th, 2005
V/R
Date
No.
July 1st

Particulars

Cash a/c
To Capital a/c
[Being the amount received from Mr. Ramu, the proprietor as his capital contribution vide
receipt no:___ dated:__]
July 1st Goods/Stock a/c
To Manu a/c
[Being the value of stock purchased from Mr. Manu vide bill no:___ dated:__ ]
July
Sonu a/c
2nd
To Goods/Stock a/c
[Being the value of stock sold to Mr.Sonu vide bill no:___ dated:__ ]
July 3rd Goods/Stock a/c
To Meenu a/c
[Being the value of stock purchased from Mr.Meenu on credit vide bill no:___ dated:__ ]
July 4th Cash a/c
To Goods/Stock a/c

L/F
Dr

Debit
Amount
(in Rs)
75,000

Credit
Amount
(in Rs)
75,000

Dr

25,000

Dr

20,000

Dr

15,000

Dr

16,000

25,000
20,000
15,000
16,000

July 5th
July 6th
July 7th
July 8th
July 9th
July
10th

July
11th

July
12th

July
13th

July
14th

July
15th

July
16th

July
17th

July
19th

July
20th

[Being the value of stock sold to Mr. Tanu for cash vide receipt no:___ dated:__ ]
Manu a/c
To Goods/Stock a/c
[Being the value of stock returned to Mr. Manu vide bill no:___ dated:__ ]
Furniture a/c
To Cash a/c
[Being the value of furniture purchased from M/s ___vide bill no:___ dated:__ ]
Goods/Stock a/c
To Zenu a/c
[Being the value of stock Purchased from Mr. Zenu vide bill no:___ dated:__ ]
Manu a/c
To Cash a/c
[Being the amount paid to Mr. Manu vide vocher no:___ dated:__ ]
Jane a/c
To Goods/Stock a/c
[Being the value of stock Sold to Ms.Zane vide bill no:___ dated:__ ]
Goods/Stock a/c
To Sonu a/c
[Being the value of stock returned from Mr. Sonu vide bill no:___ dated:__ ]
Cash a/c
To Jane a/c
[Being the amount of cash received from Ms. Jane vide cash receipt no:___ dated:__ ]
Drawings a/c
To Good/stock a/c
[Being the amount of stock taken by Ramu for domestic use vide bill no:___ dated:__ ]
Zenu a/c
To Goods/stock a/c
[Being the amount of stock returned to Mr. Zenu vide bill no:___ dated:__ ]
Cash a/c
To Sonu a/c
[Being the amount of cash received from Mr. Sonu vide cash receipt no:___ dated:__ ]
Machinery a/c
To Cash a/c
[Being the amount paid for machinery purchased to M/s ____vide vocher no:___ dated:__ ]
Cash a/c
To Furniture a/c
[Being the amount received on sale of furniture vide cash receipt no:___ dated:__ ]
Drawings a/c
To Cash a/c
[Being the amount of cash paid for bicycle purchases for proprietor's son vide vocher no:___
dated:__ ]
Cash a/c
To Goods/Stock a/c
[Being the value of stock sold for cash vide receipt no:___ dated:__ ]
Goods/Stock a/c
To Cash a/c
[Being the value of stock Purchased for vide vocher no:___ dated:__ ]

Dr

2,000

Dr

15,000

Dr

12,000

Dr

10,000

Dr

13,500

Dr

3,000

Dr

5,500

Dr

3,000

Dr

1,000

Dr

12,000

Dr

18,000

Dr

1,000

Dr

1,500

Dr

15,000

Dr

13,500

Dr Cash a/c Cr
Amount
Amount
Date
Particulars
J/F
Date
Particulars
J/F
(in Rs)
(in Rs)
01/07/05 To Capital a/c
75,000 05/07/05 By Furniture a/c
15,000
04/07/05 To Goods/Stock a/c 16,000 08/07/05 By Manu a/c
10,000
11/07/05 To Jane a/c

5,500 15/07/05 By Machinery a/c


18,000
14/07/05 To Sonu
12,000 17/07/05 By Drawings a/c

1,500
16/07/05 To Furniture a/c

1,000 17/07/05 By Goods/Stock a/c 13,500


19/07/05 To Goods/Stock a/c 15,000
sub-total
1,24,500
sub-total
58,000
30/07/05 By Balance c/d

66,500
Total
1,24,500
Total
1,24,500
31/07/05 To Balance b/d
66,500
Dr Capital a/c Cr
Amount
Amount
Date
Particulars J/F
Date
Particulars J/F
(in Rs)
(in Rs)
01/07/05 By Cash a/c
75,000

2,000
15,000
12,000
10,000
13,500
3,000
5,500
3,000
1,000
12,000
18,000
1,000
1,500

15,000
13,500

sub-total
30/07/05 To Balance c/d
Total

0
75,000
75,000

sub-total

75,000

Total
75,000
31/07/05 By Balance b/d
75,000
Dr Goods/Stock a/c Cr
Amount
Amount
Date
Particulars J/F
Date
Particulars
J/F
(in Rs)
(in Rs)
01/07/05
25,000 02/07/05
15,000
03/07/05
15,000 04/07/05
16,000
To Manu a/c
By Sonu a/c
07/07/05
12,000 05/07/05

2,000
To Meenu a/c
By Goods /stock a/c
10/07/05

3,000 05/07/05
13,500
To Zenu a/c
By Manu a/c
20/07/05
13,500 05/07/05

3,000
To Sonu a/c
By Zane a/c
13/07/05

1,000
To Cash a/c
By Drawings a/c
19/07/05

15,000
By Zenu a/c
65,500
By Cash a/c
3,000
68,500
sub-total
68,500
sub-total
65,500

30/07/05 To Balance c/d

3,000
Total
68,500
Total
68,500
31/07/05 To Balance b/d
3,000
Dr Manu a/c Cr
Amount
Amount
Date
Particulars
J/F
Date
Particulars
J/F
(in Rs)
(in Rs)
05/07/05 To Goods/Stock a/c
2,000 01/07/05 By Goods/Stock a/c 25,000
o8/07/05 To Cash a/c
10,000
sub-total
12,000
sub-total
25,000
30/07/05 To Balance c/d

13,000
Total
25,000
Total
25,000
31/07/05 By Balance b/d
13,000;
Dr Sonu a/c Cr
Amount
Amount
Date
Particulars
J/F
Date
Particulars
J/F
(in Rs)
(in Rs)
02/07/05 To Goods/Stock a/c 15,000 10/07/05 By Goods/stock a/c
3,000
14/07/05 By Cash a/c
12,000
Total
15,000
Total
15,000
Dr Meenu a/c Cr
Amount
Amount
Date
Particulars J/F
Date
Particulars
J/F
(in Rs)
(in Rs)
03/07/05 By Goods/Stock a/c 15,000
sub-total
0
sub-total
15,000
30/07/05 To Balance c/d
15,000
Total
15,000
Total
15,000
31/07/05 By Balance b/d
15,000;
Dr Furniture a/c Cr
Amount
Amount
Date
Particulars J/F
Date
Particulars J/F
(in Rs)
(in Rs)
06/07/05 To Cash a/c
15,000 14/07/05 By Cash a/c

1,000
sub-total
15,000
sub-total
1,000
30/07/05 By Balance c/d
14,000
Total
15,000
Total
15,000
31/07/05 To Balance b/d
14,000
Dr Zenu a/c Cr
Amount
Amount
Date
Particulars
J/F
Date
Particulars
J/F
(in Rs)
(in Rs)
13/07/05 To Goods/Stock a/c
1,000 07/07/05 By Goods/Stock a/c 12,000
sub-total
1,000
sub-total
12,000
30/07/05 To Balance c/d

11,000
Total
12,000
Total
12,000
31/07/05 By Balance b/d
11,000;
Dr Jane a/c Cr
Amount
Amount
Date
Particulars
J/F
Date
Particulars J/F
(in Rs)
(in Rs)
09/07/05 To Goods/stock a/c 13,500 11/07/05 By Cash a/c

5,500
sub-total
13,500
sub-total
5,500
30/07/05 By Balance c/d
8,000

Total
31/07/05 To Balance b/d

13,500
Total
13,500

8,000
Dr Drawings a/c Cr
Amount
Amount
Date
Particulars
J/F
Date
Particulars J/F
(in Rs)
(in Rs)
13/07/05 To Goods/stock a/c
3,000
17/07/05 To Cash a/c

1,500
sub-total
4,500
sub-total
0
30/07/05 By Balance c/d
4,500
Total
4,500
Total
4,500
31/07/05 To Balance b/d

4,500
Dr Machinery a/c Cr
Amount
Amount
Date
Particulars J/F
Date
Particulars J/F
(in Rs)
(in Rs)
15/07/05

3,000
To Cash a/c
18,000
sub-total
18,000
sub-total
0
30/07/05 By Balance c/d
18,000
Total
18,000
Total
18,000
31/07/05 To Balance b/d
18,000
No.

Problems & Solutions

02. Journalise the following transactions in the books of Moon and post them into the ledger for the month of August
Aug 10th : Moon commenced business with a capital of Rs. 1,50,000
Cash deposited into bank Rs. 50,000
11th : Bought equipment for Rs. 15,000
12th : Bought goods worth Rs. 20,000 from Star and payment made by cheque
13th :
14th: Sold goods to Sun for Rs. 15,000 and payment received through cheque
16th :
17th : Paid rent by cheque Rs. 5,000
18th : Took loan from Mr. Storm Rs. 25,000
19th : Received commission from Mr. Air by cheque Rs. 5,000
20th : Wages paid Rs. 15,000
21st : Withdrew from bank for personal use Rs. 3,000
22nd : Withdrew from bank for office use Rs. 10,000
23rd : Bought goods for Rs. 25,000
24th : Cash paid into bank Rs. 30,000
25th : Interest paid through cheque Rs. 2,000
26th : Gave loan to Mr.Wind Rs. 10,000
27th : Amount paid to Mr. Storm on loan account Rs. 15,000
28th : Salary paid to Manager Mr. Liquid Rs. 5,000
29th : Postage paid Rs. 1,000
30th : Received cheque from Mr. Wind on loan account Rs. 3,000
Sold part of the equipment for Rs. 2,000

Solution

Journal in the books of Mr. Moon for the period from August 10th, 2005 to August 30th, 2005
Date
August
10th
August
11th
August
12th
August
13th
August
14th
August
16th
August
17th
August
18th
August
19th
August
20th
August
21st
August
22nd
August
23rd
August
24th
August
25th
August
26th
August
27th
August
28th
August
29th
August
30th

V/R
No.

Particulars

L/F

Cash a/c
To Capital a/c
[Being the amount received from Mr. Moon, the proprietor as his capital contribution vide
receipt no:__ dated:__ ]
Bank a/c
To Cash a/c
[Being the amount of cash deposited into bank vide bill no:___ dated:__ ]
Equipment a/c
To Cash a/c
[Being the value of equipment purchased from M/s___ for cash vide bill no:___ dated:__ ]
Goods/Stock a/c
To Bank a/c
[Being the payment made for stock purchased vide Cheque no:__ dated:__ ]
Bank a/c
To Goods/Stock a/c
[Being the amount received for stock sold to Mr. Sun vide Cheque no:__ dated:__ ]
Rent a/c
To Bank a/c
[Being the amount paid for rent vide vocher no:___ dated:__ ]
Cash a/c
To Loan from Storm a/c
[Being the cash received from Mr. Storm as loan vide receipt no:___ dated:__ ]
Bank a/c
To Commission a/c
[Being the amount received for commission vide cheque no:__ dated:__]
Wages a/c
To Cash a/c
[Being the amount paid for wages vide vocher no:___ dated:__ ]
Drawings a/c
To Bank a/c
[Being the amount withdrawn from bank for personal use vide cheque no:___ dated:__ ]
Cash a/c
To Bank a/c
[Being the amount withdrawn from bank for office purpose vide cheque no:___ dated:__ ]
Goods/Stock a/c
To Cash a/c
[Being the amount of cash paid for stock purchases vide vocher no:___ dated:__ ]
Bank a/c
To Cash a/c
[Being the amount deposited into bank vide vocher no:___ dated:__ ]
Interest a/c
To Bank a/c
[Being the amount of interest paid vide cheque no:___ dated:__ ]
Loan to Mr. Wind a/c
To Cash a/c
[Being the amount of cash given to Mr. Wind as loan vide vocher no:___ dated:__ ]
Loan from Storm a/c
To Cash a/c
[Being the amount paid to Mr. Storm for repayment of loan vide vocher no:___ dated:__ ]
Salary a/c
To Cash a/c
[Being the amount paid for salary to Mr. Liquid vide vocher no:___ dated:__ ]
Postage a/c
To Cash a/c
[Being the amount paid for purchase of postage vide vocher no:___ dated:__ ]
Bank a/c
To Equipment a/c
[Being the Cheque no:___ date___ received from Mr. Wind for repayment of loan]
Cash a/c
To Loan to Mr. Wind a/c
[Being the amount received on sale of equipment vide receipt no:___ dated:__ ]

Dr Cash a/c Cr
Amount
Date
Particulars
J/F
Date
Particulars
(in Rs)
10/08/05 To Capital a/c
15,000 11/08/05 By Bank a/c
17/08/05 To loan from storm
12/08/05 By Equipment a/c

Dr

Credit
Amount
(in Rs)
1,50,000

Dr

50,000

Dr

15,000

Dr

20,000

Dr

15,000

Dr

5,000

Dr

25,000

Dr

5,000

Dr

15,000

Dr

3,000

Dr

10,000

Dr

25,000

Dr

30,000

Dr

2,000

Dr

10,000

Dr

15,000

Dr

5,000

Dr

1,000

Dr

3,000

Dr

2,000

Amount
(in Rs)
50,000
15,000

J/F

Debit
Amount
(in Rs)
1,50,000

50,000
15,000
20,000
15,000
5,000
25,000
5,000
15,000
3,000
10,000
25,000
30,000
2,000
10,000
15,000
5,000
1,000
3,000
2,000

21/08/05 a/c
30/08/05 To Bank a/c
To Equipment

25,000 19/08/05 By Wages a/c


10,000 22/08/05 By Goods/stock a/c
2,000 23/08/05 By Bank a/c
25/08/05 By Loan to Wind a/c
26/08/05 By Loan from storm

15,000
25,000
30,000
10,000

15,000

27/08/05 a/c
28/08/05 By Salaries a/c
5,000
30/08/05 By Postage a/c
1,000
By Balance c/d
21,000
Total
1,87,000
Total
1,87,000
31/07/05 To Balance b/d

21,000
Dr Capital a/c Cr
Amount
Amount
Date
Particulars J/F
Date
Particulars J/F
(in Rs)
(in Rs)
10/08/05 By Cash a/c
1,50,000
30/08/05 To Balance c/d 1,50,000
1,50,000
1,50,000
31/08/05 By Balance b/d 1,50,000
Dr Bank a/c Cr
Amount
Amount
Date
Particulars
J/F
Date
Particulars
J/F
(in Rs)
(in Rs)
11/08/05 T0 Cash a/c
50,000 13/08/05 By Goods/Stock a/c 20,000
14/08/05 To Goods/Stock a/c 15,000 16/08/05 By Rent a/c

5,000
18/08/05 To Commission a/c
5,000 20/08/05 By Drawings a/c

3,000
23/08/05 To Cash

30,000 21/08/05 By Cash a/c


10,000
29/08/05 To Loan to Mr wind
24/08/05 By Interest a/c

2,000

3,000 30/08/05 By Balance c/d


63,000
a/c
1,03,000
1,03,000
31/08/05 To Balance b/d

63,000
Dr Equipment a/c Cr
Amount
Amount
Date
Particulars J/F
Date
Particulars J/F
(in Rs)
(in Rs)
12/08/05 To Cash a/c
15,000 30/08/05 By Cash a/c

2,000
30/08/05 By Balance c/d 13,000
15,000
15,000
31/08/05 To Balance b/d
13,000
Dr Goods/Stock a/c Cr
Amount
Amount
Date
Particulars J/F
Date
Particulars J/F
(in Rs)
(in Rs)
13/08/05 To Bank a/c
20,000 14/08/05 By Bank a/c
15,000
22/08/05 To Cash a/c
25,000
30/08/05 By Balance c/d 30,000
45,000
45,000
31/08/05 To Balance b/d
30,000
Dr Rent a/c Cr
Amount
Amount
Date
Particulars J/F
Date
Particulars J/F
(in Rs)
(in Rs)
16/08/05 To Bank a/c

5,000 30/08/05 By Balance c/d


5,000
5,000
5,000
31/08/05 To Balance b/d
5,000
Dr Loan from Storm a/c Cr
Amount
Amount
Date
Particulars J/F
Date
Particulars J/F
(in Rs)
(in Rs)
26/08/05 To Cash a/c
15,000 17/08/05 By Cash a/c
25,000
30/08/05 To Balance c/d 10,000
25,000
25,000
31/08/05 By Balance b/d
10,000
Dr Commission a/c Cr
Amount
Amount
Date
Particulars J/F
Date
Particulars J/F
(in Rs)
(in Rs)
18/08/05 By Bank a/c

5,000
30/08/05 To Balance c/d
5,000
5,000
5,000
31/08/05 By Balance b/d
5,000

Dr Wages a/c Cr
Amount
Amount
Date
Particulars J/F
Date
Particulars J/F
(in Rs)
(in Rs)
19/08/05 To Cash a/c
15,000
30/08/05 By Balance c/d 15,000
15,000
15,000
31/08/05 To Balance b/d
15,000
Dr Drawings a/c Cr
Amount
Amount
Date
Particulars J/F
Date
Particulars J/F
(in Rs)
(in Rs)
20/08/05 To Bank a/c

3,000
30/08/05 By Balance c/d
3,000
3,000
3,000
31/08/05 To Balance b/d
3,000
Dr Interest a/c Cr
Amount
Amount
Date
Particulars J/F
Date
Particulars J/F
(in Rs)
(in Rs)
24/08/05 To Bank a/c

2,000
30/08/05 By Balance c/d
2,000
2,000
2,000
31/08/05 To Balance b/d
2,000
Dr Loan to Wind a/c Cr
Amount
Amount
Date
Particulars J/F
Date
Particulars J/F
(in Rs)
(in Rs)
25/08/05 To Cash a/c
10,000 29/08/05 By Bank

3,000
30/08/05 By Balance c/d
7,000
10,000
10,000
31/08/05 To Balance b/d
7,000
Dr Salaries a/c Cr
Amount
Amount
Date
Particulars J/F
Date
Particulars J/F
(in Rs)
(in Rs)
27/08/05 To Cash a/c

5,000
30/08/05 By Balance c/d
5,000
5,000
5,000
31/08/05 To Balance b/d
5,000
Dr Postage a/c Cr
Amount
Amount
Date
Particulars J/F
Date
Particulars J/F
(in Rs)
(in Rs)
28/08/05 To Cash a/c

1,000
30/08/05 By Balance c/d
1,000
1,000
1,000
31/08/05 To Balance b/d
1,000

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