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Journal, Ledger & Trial Balance

1) Kamal Appliances received Rs. 200,000 cash from owner Kamal Gupta as capital contribution. 2) Various business transactions were conducted throughout January including purchasing and selling appliances for cash and credit. 3) Accounts were created and transactions were recorded in the ledger with debits and credits to track cash flows and balances for items like capital, purchases, sales, bank, payables, receivables, expenses etc. 4) A trial balance was prepared at the end of January to check that the total debits equaled total credits.

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161 views

Journal, Ledger & Trial Balance

1) Kamal Appliances received Rs. 200,000 cash from owner Kamal Gupta as capital contribution. 2) Various business transactions were conducted throughout January including purchasing and selling appliances for cash and credit. 3) Accounts were created and transactions were recorded in the ledger with debits and credits to track cash flows and balances for items like capital, purchases, sales, bank, payables, receivables, expenses etc. 4) A trial balance was prepared at the end of January to check that the total debits equaled total credits.

Uploaded by

GarimaBhandari
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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Illustration:2.

1- Kamal Appliances Journal En


Date Transactions Amt Date
1st Jan Recieved cash from Kmal Gupta towards his capital 200000
2nd Jan Puchase appliences for cash 180000
5th Jan Sold appliences for cash 240000
6th Jan Opened bank account with HDFC bank. Deposited cash. 250000
15th Jan Purchased appliences on credit from INALSA Co. 150000
20th Jan Sold appliences on credit to Aakaanksha traders 210000
25th Jan Issued cheque to INALSA Co. 100000
28th Jan Recieved cheque from Aakaanksha traders 160000
30th Jan Paid selling commision to agent by cheque 13500
31th Jan Paid rent expense for the month in cash 5000
Journal Entries
Particulars Folio Debit Credit
Ledger
1.01.20CY to 31.01.20CY
Account…
Date Voucher
20CY No. Particulars J.F.
dger
o 31.01.20CY
Folio No …
Amount (₹) Balance
Debit Credit Dr/Cr Amount (₹)
Ledger
1.01.20CY to 31.01.20CY
Account… Cash
Date Voucher
20CY No. Particulars J.F.
dger
o 31.01.20CY
Folio No 001
Amount (₹) Balance
Debit Credit Dr/Cr Amount (₹)
Ledger
1.01.20CY to 31.01.20CY
Account… Kamal Gupta's Capital
Date Voucher
20CY No. Particulars J.F.
dger
o 31.01.20CY
Folio No 002
Amount (₹) Balance
Debit Credit Dr/Cr Amount (₹)
Ledger
1.01.20CY to 31.01.20CY
Account… Purchases
Date Voucher
20CY No. Particulars J.F.
dger
o 31.01.20CY
Folio No 003
Amount (₹) Balance
Debit Credit Dr/Cr Amount (₹)
Ledger
1.01.20CY to 31.01.20CY
Account… Sales
Date Voucher
20CY No. Particulars J.F.
dger
o 31.01.20CY
Folio No 004
Amount (₹) Balance
Debit Credit Dr/Cr Amount (₹)
Ledger
1.01.20CY to 31.01.20CY
Account… HDFC Bank
Date Voucher
20CY No. Particulars J.F.
dger
o 31.01.20CY
Folio No 005
Amount (₹) Balance
Debit Credit Dr/Cr Amount (₹)
Ledger
1.01.20CY to 31.01.20CY
Account…INALSA Co.
Date Voucher
20CY No. Particulars J.F.
dger
o 31.01.20CY
Folio No 006
Amount (₹) Balance
Debit Credit Dr/Cr Amount (₹)
Ledger
1.01.20CY to 31.01.20CY
Account… Aakaanksha Traders
Date Voucher
20CY No. Particulars J.F.
dger
o 31.01.20CY
Folio No 007
Amount (₹) Balance
Debit Credit Dr/Cr Amount (₹)
Ledger
1.01.20CY to 31.01.20CY
Account… Selling Commission
Date Voucher
20CY No. Particulars J.F.
dger
o 31.01.20CY
Folio No 008
Amount (₹) Balance
Debit Credit Dr/Cr Amount (₹)
Ledger
1.01.20CY to 31.01.20CY
Account… Office Rent
Date Voucher
20CY No. Particulars J.F.
dger
o 31.01.20CY
Folio No 009
Amount (₹) Balance
Debit Credit Dr/Cr Amount (₹)
Trial Balance
As on 31 January 20CY
Amount (₹)
Account Heads L. F. Debit Credit

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