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    Assignment 2

    Uploaded by

    Ritika Choudhary
    Mr. Akshay started a business with Rs 80,000 cash. He purchased goods from Mona for Rs 28,000 and deposited Rs 39,000 into his bank. He sold goods to Dinesh for Rs 41,000 and purchased a laptop for Rs 30,000 cash. He paid Mona Rs 30,000 by cheque and paid wages of Rs 500. Mantri commenced business with Rs 1,20,000 cash, Rs 60,000 in goods, and Rs 65,000 in furniture. He opened a bank account depositing Rs 75,000. He made various purchases and sales, paid and received payments, distributed free samples, returned goods, purchased shares, and paid rent by cheque

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    Assignment 2

    Uploaded by

    Ritika Choudhary
    237 views4 pages
    Mr. Akshay started a business with Rs 80,000 cash. He purchased goods from Mona for Rs 28,000 and deposited Rs 39,000 into his bank. He sold goods to Dinesh for Rs 41,000 and purchased a laptop for Rs 30,000 cash. He paid Mona Rs 30,000 by cheque and paid wages of Rs 500. Mantri commenced business with Rs 1,20,000 cash, Rs 60,000 in goods, and Rs 65,000 in furniture. He opened a bank account depositing Rs 75,000. He made various purchases and sales, paid and received payments, distributed free samples, returned goods, purchased shares, and paid rent by cheque

    Original Title

    Assignment 2 (3)

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    Mr. Akshay started a business with Rs 80,000 cash. He purchased goods from Mona for Rs 28,000 and deposited Rs 39,000 into his bank. He sold goods to Dinesh for Rs 41,000 and purchased a laptop for Rs 30,000 cash. He paid Mona Rs 30,000 by cheque and paid wages of Rs 500. Mantri commenced business with Rs 1,20,000 cash, Rs 60,000 in goods, and Rs 65,000 in furniture. He opened a bank account depositing Rs 75,000. He made various purchases and sales, paid and received payments, distributed free samples, returned goods, purchased shares, and paid rent by cheque

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    237 views4 pages

    Assignment 2

    Uploaded by

    Ritika Choudhary
    Mr. Akshay started a business with Rs 80,000 cash. He purchased goods from Mona for Rs 28,000 and deposited Rs 39,000 into his bank. He sold goods to Dinesh for Rs 41,000 and purchased a laptop for Rs 30,000 cash. He paid Mona Rs 30,000 by cheque and paid wages of Rs 500. Mantri commenced business with Rs 1,20,000 cash, Rs 60,000 in goods, and Rs 65,000 in furniture. He opened a bank account depositing Rs 75,000. He made various purchases and sales, paid and received payments, distributed free samples, returned goods, purchased shares, and paid rent by cheque

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    ASSIGNMENT

    Unit II: Journal

    1. Journalise the following transactions in the books of Mr. Akshay.


     
    2010 April 1 Mr. Akshay started business with Cash Rs 80,000.
      4 Purchased goods form Mona Rs 28,000.
    7 Deposited cash into Dena Bank Rs 39,000.
    10 Sold goods to Dinesh Rs 41,000.
    13 Purchased Laptop of Rs 30,000 in cash.
    17 Paid Mona by cheque Rs 30,000.
    20 Paid wages Rs 500.

    Date Particular Ledger Debit Amt Credit Amt


    Folio
    2010 Cash A/C Dr. 80,000
    April 1 To Capital A/C 80,000
    (Being the business
    started with cash)
    April 4 Purchase A/C Dr. 28,000
    To Mona 28,000
    (Being the Goods
    purchased from Mona)
    April 7 Bank A/c Dr. 39,000
    To Cash A/c 39,000
    (Being deposited cash
    into Dena Bank)
    April 10 Dinesh Dr. 41,000
    To Sales A/c 41,000
    (Being the goods sold )
    April 13 Laptop A/c Dr. 30,000
    To Cash A/Cc 30,000
    (Being Laptop
    Purchased in cash)
    April 17 Mona Dr. 30,000
    To Bank A/c 30,000
    (Being paid Mona by
    cheque )
    April 20 Wages A/c Dr. 500
    To Cash A/c 500
    (Being paid wages)

    2. Journalise the following transactions in the books of Mantri.


    2011 1 Commenced business with Cash Rs 1,20,000, Goods Rs. 60,000 and Furniture
    June Rs 65,000.
      3 Opened a current account in Bank of Baroda by depositing Rs 75,000.
    5 Cash purchases Rs 35,000.
    9 Cash Sales Rs 55,000.
    10 Purchased goods worth Rs 20,000 from Amit & Co. subject trade discount of
    2%
    14 Credit sales to Kalpana Rs 15,000.
    16 Paid cash to Amit & Co. Rs 9,500 who allowed us discount Rs 100.
    19 Goods distributed as free samples of Rs 1,500.
    21 Received Cash from Kalpana Rs 4,800 on account and allowed her cash
    discount Rs 200.
    24 Returned goods of Rs 750 to Amit & Co.
    26 Purchased shares of Rs 15,000 of HDFC Bank.
    29 Received goods returned by Kalpana Rs 200.
    30 Rent paid by cheque Rs 7,000

    Date Particulars Ledge AMT Amt


    r Folio
    2011 Cash A/c 1,20,000
    June 1 Dr. 60,000
    Stock A/c 65,000
    Dr. 2,45,000
    Furniture A/c
    Dr
    To Capital A/c
    (Commenced business with
    cash,goods and Furniture)
    June 3` Bank A/c Dr. 75,000
    To Cash A/c 75,000
    (Opened Bank A/c and cash
    Deposited in Bank of
    Baroda)
    June 5 Purchases A/c Dr. 35,000
    To Cash A/c 35,000
    (cash purchases made)
    June 9 Cash A/c Dr. 55,000
    To Sales A/c 55,000
    (Goods sold for Cash )
    June 10 Purchase A/c [20000-400] 19,600
    Dr. 19,600
    To Amit & Co
    (Goods purchased worth
    Rs20,000 at a trade
    discount of 2%)
    June 14 Kalpana 15,000
    Dr. 15,000
    To Sales A/c
    (Credit sales to Kalpana)
    June 16 Amit & Co. 9,600
    Dr. 9,500
    To Cash A/c 100
    To Discount Received A/c
    (cash paid to Amit & Co.
    and Discount Received)
    June 19 Advertisement A/c Dr. 1,500
    To Purchase A/c 1,500
    (Goods Distributed as free
    samples)
    June 21 Cash A/c Dr 4800
    Discount Allowed A/c Dr 200
    To Kalpana 5,000
    (Cash received and
    Discount allowed)
    June 24 Amit & Co. Dr 735
    To Purchases Return A/c 735
    (Goods Returned to Amit &
    Co)
    June 26 Investment in shares A/c 15000
    Dr 15000
    To Cash A/c
    (Purchase of shares of
    HDFC Bank)

    June 29 Sales Return A/c Dr. 200


    To Kalpana 200
    (Goods returned by
    kalpana)
    June 30 Rent A/C Dr. 7000
    To Bank A/c 7000
    (Rent paid through cheque)

    3. *Goods Returned to Amit of value Rs 750 will be recorded at a discount of 2% which


    was allowed as trade discount i.e. at Rs735 [750-15(2% of 750].

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