Assignment Problems

Problem 01: Journalizes the following transactions of M/s Sidhi Fashion House and post the entries to the
Ledger and Trail Balance Sheet:
June 05 Business started with cash Rs 2,00,000

June 08 Opened a bank account with Syndicate Bank 80,000
June 12 Goods purchased on credit from M/s Gulmohar Fashion House 30,000
June 12 Purchase office machines, paid by cheque 20,000
June 18 Rent paid by cheque 5,000
June 20 Sale of goods on credit to M/s Mohit Bros 10,000
June 22 Cash sales15,000
June 25 Cash paid to M/s Gulmohar Fashion House30,000
June 28 Received a cheque from M/s Mohit Bros 10,000
June 30 Salary paid in cash 6,000
PROBLEM 02: Pass Journal Entries in the books of Sachin and prepare Ledger account:
1. Sachin started business with cash Rs. 5,00,000

2. He bought goods from Dravid on credit Rs. 50,000
3. He opened a current a/c in a bank and deposited Rs. 1,50,000 therein.
4. Sold goods to Joshi Rs. 20,000
5. Returned damaged goods to Dravid Rs. 1,000
6. Received goods returned by Joshi for Rs. 500
7. He received a cheque from Joshi for Rs. 19,000 in full settlement of his account.
8. Joshi’s cheque was paid into the bank.
9. Paid college fees of the proprietor‘s daughter Rs. 5,000
10. Drew from bank Rs. 10,000
11. Drew from bank for household expenses Rs. 10,000
12. Sold goods to Kanitkar Rs. 10,000
13. Kanitkar directly paid into the bank a/c Rs. 10,000
14. Met travelling expenses Rs. 10,000
Problem 03
Journalise the following transaction
a) Paid the rent of building half of the building used by proprietor for residential use Rs. 12,000
b) Paid fire insurance premium of the above building in advance Rs. 1,000
c) Paid life insurance premium Rs 2,000.
d) Paid income tax Rs. 3,000
e) Salary due to clerk Rs. 500
f) Charge depreciation on furniture @10% per annum (furniture Rs 12,000)
g) Provide interest on capital of (Rs. 60,000)@15% p.a. for 6 months
h) Charge interest on drawings of Rs. 10,000 @ the rate of 18% P.a for 6 months
i) Received commission Rs, 1000 half of which is in advance
Problem 04
Record the following transaction of A and Co in the journal

I. 01/01/2017
Assets Amount Liabilities Assets
Cash in hand 500 Loan from SBI 10,000
Cash at bank 8,000 Amount due to
Stock of goods 4,000 vishwanath and co 5,000
Machinery 20,000
Furniture 5,000
Ray and co (amount 2,000
due to A & co.)
S and co (amount due 3,000
to A & co)
01/01/2017 brought goods on credit from Patel and co Rs 2,000

03/01/2017 sold goods for cash for Bose and co Rs.500
04/01/2017 sold goods to Roy and co on credit Rs. 1000
05/01/2017 received from Roy and co in full settlement of amount due to 01/01/2017 Rs. 1900
06/01/2017 payment made to vishwanath and co by cheque (vishwanath co allowed discount
Rs. 50) Rs. 4,950.
08/01/2017 old furniture sold for cash (Book value is 300) Rs.350
10/01/2017 bought goods for cash Rs1,000
11/01/2017 received cheque from S and co, deposited in bank Rs.3000
12/01/2017 paid for repairs to machinery Rs 300
13/01/2017 bought goods from vishwanath and co Rs 2000
paid carriage on these goods Rs 100
14/01/2017 received cheque from Roy &co deposited in bank (discount allowed to them Rs50)
Rs 950
17/01/2017 paid cheque to vishwanath and co Rs 2000.
18/01/2017 cash deposited into the bank Rs 1000
22/02/2017 paid municiple Tax
THREE COLUMN CASH BOOK
PROBLEM 01: Enter the following transactions of Pranav in three column cash book
1st March 2014: Cash in hand Rs.1532 and balance at bank Rs.18500.
2. Received from Salman Rs.590 and allowed him discount Rs.10.
3. Paid salaries for the month of February Rs.200.
4. Purchased merchandise payment made by cheque Rs.3200.
8. Paid Bhuvan &co by cheque Rs.800 discount received Rs.20.
10. Withdrew from bank for office use Rs.400. paid rent in cash Rs.300.
14. Deposited into bank Rs.500.
15. Cash sales Rs.2460.
18. Purchased a motor car for Rs.6500 payment made by cheque.
23. Received a cheque from Salman for Rs.391 discount Rs.9.
25. Paid wages Rs.350.
28. Salman cheque paid into bank.
29. Paid general expenses Rs.360.
31. Bank informed that Salman’s cheque has been dishonored.
31. Cash sales Rs.6440.
PROBLEM 02: The P&G LLC records its cash and bank transactions in a triple column cash
book. The following transactions were performed by the company during the month of
June 2018.
Jun 01: Cash in hand Rs 800 (debit balance), Cash at bank Rs 3,365 (debit balance).
Jun 03: Paid James & Co. by cheque Rs 1,175, discount received from him Rs25.
Jun 05: Received from David & Co. a cheque amounting to Rs990, discount allowed to
him Rs10.
Jun 07: Deposited into bank the cheque received from David & Co.
Jun 10: Purchased stationary for cash, Rs170.
Jun 15: Purchased merchandise for cash, Rs1,280.
Jun 15: Cash sales for the first half of the month, Rs2,450.
Jun 16: Deposited into bank Rs1,250.
Jun 18: Withdrawn from bank for personal expenses Rs100.
Jun 19: Issued a cheque amounting to Rs1,630 to James & Co. and discount received
from him Rs20.
Jun 21: Drew from bank for office use, Rs420.
Jun 24: Received a cheque amounting to Rs1,435 from Henry & Co. and allowed him a
discount of Rs15. The Henry’s cheque was deposited into bank immediately.
Jun 25: Paid a cheque to Jacob Inc. amounting to Rs385 and received a discount of Rs15.
Jun 27: Bought furniture for cash for office use, Rs380.
Jun 29: Paid office rent by cheque, Rs350.
Jun 30: Cash sales for the second half of the month Rs4,550.
Jun 30: Paid salaries by cheque Rs760.
Jun 30: Withdrew from bank for office use Rs470.

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Problem 01: Journalizes the following transactions of M/s Sidhi Fashion House and post the entries to the

Ledger and Trail Balance Sheet:

June 05 Business started with cash Rs 2,00,000

1. Sachin started business with cash Rs. 5,00,000

Record the following transaction of A and Co in the journal

01/01/2017 brought goods on credit from Patel and co Rs 2,000

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