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Question
Enter the following transactions in the books of Ganesan and post them into ledger.
| 2017 Oct | Particulars | ₹ |
| 1 | Started business with cash | 25,000 |
| 5 | Deposited into bank | 12,500 |
| 10 | Purchased furniture and payment by cheque | 2,000 |
| 15 | Goods purchased for cash | 5,000 |
| 19 | Sold goods to Vasu on credit | 4,000 |
| 22 | Goods worth has taken for personal use | 500 |
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Solution
Journal Entries in the Books of Ganesan
| Date | Particulars | L.F. | Debit ₹ | Credit ₹ |
| 2017 Oct. 1 |
Cash A/c ......Dr. To Ganesan's Capital A/c (Business started with cash) |
25,000 - |
- 25,000 |
|
| 5 | Bank A/c .........Dr. To Cash A/c (Deposited into the bank) |
12,500 - |
- 12,500 |
|
| 10 | Furniture A/c .............Dr. To Bank A/c (Furniture purchased by cheque) |
2,000 - |
- 2,000 |
|
| 15 | Purchases A/c .......Dr. To Cash A/c (Cash purchase) |
5,000 - |
- 5,000 |
|
| 19 | Vasu A/c .......Dr. To Sales A/c (Credit sales to Vasu) |
4,000 - |
- 4,000 |
|
| 22 | Drawings A/c .....Dr. To Purchase A/c (Goods worth ₹ 500 taken for personal use) |
500 - |
- 500 |
Cash Account
Dr. Cr.
| Date | Particulars | J.F. | ₹ | Date | Particulars | J.F. | ₹ |
| 2017 | 2017 | ||||||
| Oct. 1 | To Ganesan's Capital A/c | 25,000 | Oct. 5 | By Bank A/c | 12,500 | ||
| 15 | By Purchase A/c | 5,000 | |||||
| 28 | By Balance c/d | 7,500 | |||||
| 25,000 | 25,000 | ||||||
| Nov. 1 | To Balance b/d | 7,500 |
Ganesan’s Capital Account
Dr. Cr.
| Date | Particulars | J.F. | ₹ | Date | Particulars | J.F. | ₹ |
| 2017 | 2017 | ||||||
| Oct. 31 | To Balance c/d | 25,000 | Oct. 1 | By Cash A/c | 25,000 | ||
| 25,000 | 25,000 | ||||||
| Nov. 1 | By Balance b/d | 25,000 |
Bank Account
Dr. Cr.
| Date | Particulars | J.F. | ₹ | Date | Particulars | J.F. | ₹ |
| 2017 | 2017 | ||||||
| Oct. 5 | To Cash A/c | 12,500 | Oct. 10 | By Furniture A/c | 2,000 | ||
| 31 | By Balance c/d | 10,500 | |||||
| 12,500 | 12,500 | ||||||
| Nov. 1 | To balance b/d | 10,500 |
Furniture Account
Dr. Cr.
| Date | Particulars | J.F. | ₹ | Date | Particulars | J.F. | ₹ |
| 2017 | 2017 | ||||||
| Oct. 10 | To Bank A/c | 2,000 | Oct. 31 | By Balance c/d | 2,000 | ||
| 2,000 | 2,000 | ||||||
| Nov. 1 | To Balance b/d | 2,000 |
Purchase Account
Dr. Cr.
| Date | Particulars | J.F. | ₹ | Date | Particulars | J.F. | ₹ |
| 2017 | 2017 | ||||||
| Oct. 15 | To Cash A/c | 5,000 | Oct. 22 | By Drawings A/c | 500 | ||
| 31 | By Balance c/d | 4,500 | |||||
| 5,000 | 5,000 | ||||||
| Nov. 1 | To Balance b/d | 4,500 |
Sales Account
Dr. Cr.
| Date | Particulars | J.F. | ₹ | Date | Particulars | J.F. | ₹ |
| 2017 | 2017 | ||||||
| Oct. 31 | To Balance c/d | 4,000 | Oct. 19 | By Vasu A/c | 4,000 | ||
| 4,000 | 4,000 | ||||||
| Nov. 1 | By Balance b/d | 4,000 |
Vasu Account
Dr. Cr.
| Date | Particulars | J.F. | ₹ | Date | Particulars | J.F. | ₹ |
| 2017 | 2017 | ||||||
| Oct. 19 | To Sales A/c | 4,000 | Oct. 31 | By Balance c/d | 4,000 | ||
| 4,000 | 4,000 | ||||||
| Nov. 1 | To Balance b/d | 4,000 |
Drawing Account
Dr. Cr.
| Date | Particulars | J.F. | ₹ | Date | Particulars | J.F. | ₹ |
| 2017 | 2017 | ||||||
| Oct. 22 | To Purchase A/c | 500 | Oct. 31 | By Balance c/d | 500 | ||
| 500 | 500 | ||||||
| Nov. 1 | To Balance b/d | 500 |
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