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Accounting Process HW1

Mrs. Rakesh started a business with Rs. 100,000. Various business transactions are listed from November 10-30, including purchasing inventory, furniture, supplies, machinery, depositing funds and withdrawing cash from the bank, selling goods to customers, receiving payments from customers, and paying expenses like salaries, bills, and commissions. The document provides a list of transactions to be recorded in a journal and ledger, and a trial balance is to be prepared using the information from those accounting records.

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106 views

Accounting Process HW1

Mrs. Rakesh started a business with Rs. 100,000. Various business transactions are listed from November 10-30, including purchasing inventory, furniture, supplies, machinery, depositing funds and withdrawing cash from the bank, selling goods to customers, receiving payments from customers, and paying expenses like salaries, bills, and commissions. The document provides a list of transactions to be recorded in a journal and ledger, and a trial balance is to be prepared using the information from those accounting records.

Uploaded by

satya
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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[Q. No.

1] Enter the following transactions in the Journal sand post them into ledger and from
the information obtained prepare a Trail Balance.

Nov 10th : Mrs. Rakesh started business with 1,00,000


11th : Bought furniture from Modern Furniture for 10,000
12th : Purchased goods for cash 15,000
13th : Purchased goods from B. & Co for 30,000
14th : Opened a bank account by depositing 16,000
16th : Sold goods for cash 15,000
17th : Purchased stationery for 1000 from Bharat Stationery
18th : Sold goods to Aananda for 10,000
19th : Bought machinery for 6,000 and payment made by cheque
20th : Goods returned by Aananda for 2,000
21st : Payment to B. & Co by cheque 5,000
22nd : Withdrew from bank for personal use 3,000
23rd : Interest paid through cheque 2,000
24th : Withdrew from bank for office expenses 10,000 (Office expenses paid)
26th : Cheque received from Aananda 5,000
27th : Paid electricity bill for 100
29th : Salary paid Rs.10,000 still payable Rs. 2,000
30th : Commission received by cheque 5,000

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