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Prepare Purchases book and Sales book in the books of Santhosh Textiles Ltd., from the following transactions given for April, 2017.
| 2017 | Particulars |
| April 1 | Purchased goods from Prasad, Kancheepuram on credit |
| 100 meters Silk @ ₹ 450 per meter | |
| 75 meters Velvet @ ₹ 180 per meter | |
| April 10 | Sold goods to Rathinam, Chennai on credit |
| 60 meters Silk @ ₹ 490 per meter | |
| 50 meters Velvet @ ₹ 210 per meter | |
| April 18 | Nathan & Sons purchased from us on credit |
| 100 meters Silk @ ₹ 510 per meter | |
| April 20 | Purchased goods from Hari Ram & Sons, Madurai on credit |
| 50 rolls kada cloth @ ₹ 730 per roll | |
| 80 rolls cotton cloth @ ₹ 650 per roll | |
| April 24 | Purchased from Mohan, Karur for cash |
| Shirting cloth @ ₹ 7,000 | |
| Sarees @ ₹ 25,000 |
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Write a note on the suspense account.
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What is meant by journalising?
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Briefly explain about steps in journalising.
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Enter the following transactions in the journal of Manohar who is dealing in textiles:
| 2018 March | Particulars | ₹ |
| 1 | Manohar started business with cash | 60,000 |
| 2 | Purchased furniture for cash | 10,000 |
| 3 | Bought goods for cash | 25,000 |
| 6 | Bought goods from Kamalesh on credit | 15,000 |
| 8 | Sold goods for cash | 28,000 |
| 10 | Sold goods to Hari on credit | 10,000 |
| 14 | Paid Kamalesh | 12,000 |
| 18 | Paid rent | 500 |
| 25 | Received from Hari | 8,000 |
| 28 | Withdrew cash for personal use | 4,000 |
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Pass journal entries in the books of Sasi Kumar who is dealing in automobiles.
| 2017 Oct | Particulars | ₹ |
| 1 | Commenced business with goods | 40,000 |
| 3 | Cash introduced in the business | 60,000 |
| 4 | Purchased goods from Arul on credit | 70,000 |
| 6 | Returned goods to Arul | 10,000 |
| 10 | Paid cash to Arul on account | 60,000 |
| 15 | Sold goods to Chandar on credit | 30,000 |
| 18 | Chandar returned goods worth | 6,000 |
| 20 | Received cash from Chandar in full settlement | 23,000 |
| 25 | Paid salaries through ECS | 2,000 |
| 30 | Sasi Kumar took for personal use goods worth | 10,000 |
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Journalise the following transactions in the books of Ramesh who is dealing in computers:
| 2018 March | Particulars |
| 1 | Ramesh started business with cash ₹ 3,00,000, Goods ₹ 80,000 and Furniture ₹ 27,000. |
| 2 | Money deposited into bank ₹ 2,00,000 |
| 3 | Bought furniture from M/s Jayalakshmi Furniture for ₹ 28,000 on credit. |
| 4 | Purchased goods from Asohan for ₹ 5,000 by paying through debit card. |
| 5 | Purchased goods from Guna and paid through net banking for cash ₹ 10,000 |
| 6 | Purchased goods from Kannan and paid through credit card ₹ 20,000 |
| 7 | Purchased goods from Shyam on credit for ₹ 50,000 |
| 8 | Bill drawn by Shyam was accepted for ₹ 50,000 |
| 9 | Paid half the amount owed to M/s Jayalakshmi Furniture by cheque |
| 10 | Shyam’s bill was paid |
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Raja has a hotel. The following transactions took place in his business. Journalise them.
| Jan. | Particulars | ₹ |
| 1 | Started business with cash | 3,00,000 |
| 2 | Purchased goods from Rajiv on credit | 1,00,000 |
| 3 | Cash deposited with the bank | 2,00,000 |
| 20 | Borrowed loan from bank | 1,00,000 |
| 22 | Withdrew from bank for personal use | 800 |
| 23 | Amount paid to Rajiv in full settlement through NEFT | 99,000 |
| 25 | Paid club bill of the proprietor by cheque | 200 |
| 26 | Paid electricity bill of the proprietor’s house through debit card | 2,000 |
| 31 | Lunch provided at free of cost to a charity | 1,000 |
| 31 | Bank levied charges for locker rent | 1,000 |
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From the following transactions of Shyam, a stationery dealer, pass journal entries for the month of August 2017.
| Aug. | Particulars |
| 1 | Commenced business with cash ₹ 4,00,000, Goods ₹ 5,00,000 |
| 2 | Sold goods to A and money received through RTGS ₹ 2,50,000 |
| 3 | Goods sold to Z on credit for ₹ 20,000 |
| 5 | Bill drawn on Z and accepted by him ₹ 20,000 |
| 8 | Bill received from Z is discounted with the bank for ₹ 19,000 |
| 10 | Goods sold to M on credit ₹ 12,000 |
| 12 | Goods distributed as free samples for ₹ 2,000 |
| 16 | Goods taken for office use ₹ 5,000 |
| 17 | M became insolvent and only 0.80 per rupee is received in final settlement |
| 20 | Bill of Z discounted with the bank is dishonoured |
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Mary is a rice dealer having business for more than 5 years. Pass journal entries in her books for the period of March, 2018.
| March | Particulars | ₹ |
| 1 | Cement bags bought on credit from Sibi | 20,000 |
| 2 | Electricity charges paid through net banking | 500 |
| 3 | Returned goods bought from Sibi | 5,000 |
| 4 | Cement bags taken for personal use | 1,000 |
| 5 | Advertisement expenses paid | 2,000 |
| 6 | Goods sold to Mano | 20,000 |
| 7 | Goods returned by Mano | 5,000 |
| 8 | Payment received from Mano through NEFT | 15,000 |
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Enter the following transaction in Ahamad’s cash book with discount and cash columns.
| 2017 Oct |
||
| 1 | Cash balance | 37,500 |
| 3 | Cash Sales | 33,000 |
| 7 | Paid to Velan Rs. 15,850 and Discount allowed by him | 150 |
| 13 | Sold goods to Perumal on credit | 19,200 |
| 15 | Cash withdrawn for personal expenses | 4,800 |
| 16 | Purchased goods from Subramanian | 14,300 |
| 22 | Paid to Bank | 22,700 |
| 25 | Cash received from Perumal in full settlement | 19,000 |
| 26 | Draw a cheque for office use | 17,500 |
| 27 | Paid cash to Gopalakrishnan | 2,950 |
| Discount received from him | 50 | |
| 28 | Paid cash to Subramanian and settled his account | 14,200 |
| 29 | Cash purchases | 13,500 |
| 30 | Cash paid for advertising | 1,500 |
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Enter the following transactions in cash book with discount and cash column of Anand.
| 2017 Oct |
||
| 1 | Cash in hand | 19,500 |
| 4 | Sold goods for cash | 32,000 |
| 5 | Credit purchases from Gandhi | 20,000 |
| 9 | Received from Gopu | 11,800 |
| Discount allowed to him | 200 | |
| 15 | Cash paid for Electricity charges | 12,500 |
| 17 | Bought computer and its accessories by cash | 16,800 |
| 25 | Paid cash to Gandhi ₹ 19,700 in full settlement of his account |
|
| 28 | Received cash from Thiruvengadam | 8,900 |
| Discount allowed to him | 100 | |
| 30 | Paid trade expenses in cash | 3,500 |
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While preparing the trial balance, the accountant finds that the total of the credit column is short by ₹ 200. This difference will be __________.
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The difference of totals of both debit and credit side of trial balance is transferred to ____________.
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What is double column cash book?
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Give the format of ‘Double column cash book’.
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From the following balances, prepare trial balance of Baskar as on 31st March, 2017. Transfer the difference, if any, to the suspense account.
| Name of the account | ₹ | Name of the account | ₹ |
| Opening stock | 40,000 | Debtors | 25,000 |
| Capital | 90,000 | Carriage inwards | 16,500 |
| Sales | 1,77,200 | Bills receivable | 20,000 |
| Salaries | 12,000 | Commission received | 5,550 |
| Bills payable | 9,450 | Cash at bank | 17,000 |
| Telephone charges | 2,350 | Furniture | 19,000 |
| Creditors | 16,000 | Plant and Machinery | 55,800 |
| Purchases | 85,000 | Repairs | 550 |
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Which one of the following is not a branch of accounting?
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Discuss briefly the branches of accounting.
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A cash book with discount, cash and bank column is called ______.
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