NOTES


CA-Foundation > Principles and Practice of Accounting > Accounting Process - Ledgers (Old & New) >

Accounting Process - Ledgers (Old & New) Notes

Q1.

Journalize the following transactions, post them in the ledger and balance the accounts on 31st December.
1. X started business with a capital of Rs.20,000
2.He purchased goods from Y on credit Rs. 4,000
3.He paid cash to Y Rs. 2,000
4.He sold goods to Z Rs. 4,000
5. He received cash from Z Rs. 6,000
6. He further purchased goods from Y Rs. 4,000
7. He paid cash to Y Rs. 2,000
8. He further sold goods to Z Rs.4,000
9. He received cash from Z Rs. 2,000

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Q2.

From the following transactions prepare necessary ledger accounts In the books of Mr. Joshi and balance the same.

2011

Jul.1   Started Business with Cash Rs. 8,000.

4          Purchased goods on credit from Mr. Deshmukh Rs. 3,000 at 10% T.D.

6          Cash Sales Rs. 4,000 at 5% C.D.

10        Paid Rent Rs. 900.

15        Cash Purchases Rs. 800.

20        Credit sales to Mr. Kulkarni Rs. 2,000

22        Paid cash to Mr. Deshmukh Rs. 2,700

23        Received cash from Mr. Kulkarni Rs. 1,000      

31        Paid wages Rs. 500.

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Q3.

From the following Cash book of Mr. Patel for the month of April, 2011. Prepare necessary Ledger A/c’s and Balance the same.

     Dr.                                                                   Cash A/c                                                                 Cr.

Date

Particulars

R. No.

L.F.

Amt.

Date

Particulars

V.No.

L.F.

Amt. .

2011

 

 

 

 

2011

 

 

 

 

Apr. 1

To Balance b/d

 

 

5,000

Apr. 1

By Purchases A/c

 

 

800

3

To Rohan’s A/c

 

 

1,400

4

By Wages A/c

 

 

500

6

To Sales A/c

 

 

3,600

8

By Purchases A/c

 

 

3,400

8

To Interest A/c

 

 

1,000

10

By Rekha’s A/c

 

 

1,900

10

To Imran’s A/c

 

 

2,000

12

By Drawing A/c

 

 

1,700

15

To Sales A/c

 

 

6,000

22

By Purchases A/c

 

 

1,600

20

To Rohan’s A/c

 

 

700

30

By Bank A/c

 

 

6,800

30

To Capital A/c

 

 

7,000

30

By Balance c/d

 

 

10,000

 

 

 

 

26,700

 

 

 

 

26.700

May 1

To Balance b/d

 

 

10,000

 

 

 

 

 

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Q4.

From the following Cash Book (with cash and bank columns) Prepare necessary Ledger A/c’s and Balance the them.

  Dr.                                           Cash Book (with Cash and Bank Columns)                        Cr.

Date

Particulars

L.F.

Cash Rs.

Bank Rs.

Date

Particulars

L.F.

Cash Rs.

Bank Rs.

2011

 

 

 

 

2011

 

 

 

 

Apr. 1

To Balance b/d

 

400

1,000

Apr. 1

By Purchases A/c

 

700

 

2

To Ram’s A/c

 

980

 

3

By Rent A/c

 

 

200

3

To Sales A/c

 

 

4,000

10

By Sita’s A/c

 

300

 

7

To Interest A/c

 

120

 

8

By Salaries A/c

 

 

450

10

To Sales A/c

 

500

 

10

By Purchases A/c

 

 

1,350

25

To Bank A/c

 

2,000

 

30

By Balance c/d

 

3,000

1,000

 

 

 

4,000

5,000

 

 

 

4,000

5,000

May 1

To Balance b/d

 

3,000

1,000

 

 

 

 

 

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Q5.

From the following Subsidiary books prepare necessary ledger accounts and balance them.

Purchase Book

Date

Particulars

Inward Invoice no.

L.F.

Amt. Rs.

2011

 

 

 

 

Aug. 2

Laxman

 

 

4,250

5

Joseph

 

 

1,500

10

Salman

 

 

3,000

15

Kamini

 

 

2,500

31

Patel

 

 

800

 

Total

 

 

12,050

Purchase Return Book

Date

Particulars

Debit Note No.

L.F.

Amt. Rs.

2011

 

 

 

 

Aug. 7

Laxman

 

 

550

18

Kamini

 

 

700

31

Patel

 

 

100

 

Total

 

 

1,350

 

 

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