Chapter 7 Ledger
Chapter 7 Ledger
Chapter 7 Ledger
Question 1
On 1st April, 2021, Gopal started business with a capital of ` 50,000. He made the following transactions
during the month of April:
2021 `
April 3 Purchased goods from Rita 20,000
April 4 Cash paid to Rita 10,000
April 6 Goods sold to Rohit, Chandigarh 25,000
April 8 Received cash from Rohit 20,000
April 12 Goods purchased from Rita 12,000
April 18 Cash paid to Rita 20,000
April 25 Goods sold to Rohit, Chandigarh 10,000
April 30 Received cash from Rohit 6,000
You are required to journalise the above transactions and show the respective Ledger
accounts.
Answer:
Journal
Debit Credit
Amount Amount
Date Particulars L.F. (` ) (` )
2021
Apr.01 Cash A/c Dr. 50,000
To Capital A/c 50,000
(Business started with cash)
Cash Account
Dr. Cr.
Amount Amount
Date Particulars J.F. (` ) Date Particulars J.F. (` )
2021 2021
Apr.01 Capital A/c 50,000 Apr.04 Rita 10,000
Apr.08 Rohit 20,000 Apr.18 Rita 20,000
Apr.30 Rohit 6,000 Apr.30 Balance c/d 46,000
76,000 76,000
May.01 Balance b/d 46,000
Capital Account
Dr. Cr.
Amount Amount
Date Particulars J.F. (` ) Date Particulars J.F. (` )
2021 2021
Apr.30 Balance c/d 50,000 Apr.01 Cash A/c 50,000
50,000 50,000
May.01 Balance b/d 50,000
Purchases Account
Dr. Cr.
Amount Amount
Date Particulars J.F. (` ) Date Particulars J.F. (` )
2021 2021
Apr.03 Rita 20,000 Apr.30 Balance c/d 32,000
Apr.12 Rita 12,000
32,000 32,000
May.01 Balance b/d 32,000
Rita
Dr. Cr.
Amount Amount
Date Particulars J.F. (Rs) Date Particulars J.F. (Rs)
2021 2021
Apr.04 Cash A/c 10,000 Apr.03 Purchases A/c 20,000
Apr.18 Cash A/c 20,000 Apr.12 Purchases A/c 12,000
Apr.30 Balance c/d 2,000
32,000 32,000
May.01 Balance b/d 2,000
Rohit
Dr. Cr.
Amount Amount
Date Particulars J.F. (Rs) Date Particulars J.F. (Rs)
2021 2021
Apr.06 Sales A/c 25,000 Apr.08 Cash A/c 20,000
Apr.25 Sales A/c 10,000 Apr.30 Cash A/c 6,000
Apr.30 Balance c/d 9,000
35,000 35,000
May.01 Balance b/d 9,000
Sales Account
Dr. Cr.
Amount Amount
Date Particulars J.F. (Rs) Date Particulars J.F. (Rs)
2021 2021
Apr.30 Balance c/d 35,000 Apr.06 Rohit 25,000
Apr.25 Rohit 10,000
35,000 35,000
May.01 Balance b/d 35,000
Question 2:Madan commenced business on 1st January, 2021 introducing capital in cash ` 1,00,000. His other
transactions during the month were as follows:
2021 `
Jan-01 Started business with cash 1,00,000
Jan-02 Bought goods for cash 20,000
Jan-03 Sold goods for cash 7,000
Jan-15 Sold goods to Shravan 6,000
Bought goods on credit from
Jan-18 50,000
Anurag
Jan-19 Goods returned to Anurag 5,000
Jan-20 Sold goods for cash 30,000
Jan-22 Paid electricity bill 1,000
Jan-28 Paid for telephone bill 500
Jan-29 Paid rent 800
Jan-31 Paid wages 3,000
Enter the above transactions in his books of account
Answer:
Journal
Debit Credit
Amount Amount
2021
(Goods purchased)
(Goods sold)
(Goods purchased)
(Goods returned)
(Goods sold)
(Paid rent)
(Paid wages)
Cash Account
Dr. Cr.
Amount Amount
Date Particulars J.F. (`) Date Particulars J.F. (`)
Jan
Jan 01 Capital A/c 1,00,000 02 Purchases A/c 20,000
Jan Electricity
Jan 03 Sales A/c 7,000 22 Expenses A/c 1,000
Jan Telephone
Jan 20 Sales A/c 30,000 28 Expenses A/c 500
Jan
29 Rent A/c 800
Jan
31 Wages A/c 3,000
Jan
31 Balance c/d 1,11,700
1,37,000 1,37,000
Capital Account
Dr. Cr.
Amount Amount
Date Particulars J.F. (`) Date Particulars J.F. (`)
Jan 01 Cash A/c 1,00,000 Jan 31 Balance c/d 1,00,000
1,00,000 1,00,000
Purchases Account
Dr. Cr.
Amount Amount
Date Particulars J.F. (`) Date Particulars J.F. (`)
Jan 02 Cash A/c 20,000 Jan 31 Balance c/d 70,000
Jan 18 Anurag A/c 50,000
70,000 70,000
Sales Account
Dr. Cr.
Amount Amount
Date Particulars J.F. (`) Date Particulars J.F. (`)
Jan 31 Balance c/d 43,000 Jan 03 Cash A/c 7,000
Jan 15 Shravan A/c 6,000
Jan 20 Cash A/c 30,000
43,000 43,000
Shravan Account
Dr. Cr.
Amount Amount
Date Particulars J.F. (`) Date Particulars J.F. (`)
Jan 15 Sales A/c 6,000 Jan 31 Balance c/d 6,000
6,000 6,000
Anurag Account
Dr. Cr.
Amount Amount
Date Particulars J.F. (`) Date Particulars J.F. (`)
Jan Jan
19 Purchases Return A/c 5,000 18 Purchases A/c 50,000
Jan
31 Balance c/d 45,000
50,000 50,000
5,000 5,000
1,000 1,000
500 500
Rent Account
Dr. Cr.
Amount Amount
Date Particulars J.F. (`) Date Particulars J.F. (`)
Jan Jan
29 Cash A/c 800 31 Balance c/d 800
800 800
Wages Account
Dr. Cr.
Amount Amount
Date Particulars J.F. (`) Date Particulars J.F. (`)
Jan Jan
31 Cash A/c 3,000 31 Balance c/d 3,000
3,000 3,000
Question 3:
Journalise the following transactions in the Journal of Rakesh, Delhi and post them to the
Ledger:
2021 `
March 1 Started business with cash 2,00,000
Goods taken for household purpose. These goods were purchased from
March 23 Raj 2,000
Journal
Credit
Debit
Amount Amount
2021
Purchases A/c
To Cash A/c Dr. 30,000
Mar.05 (Being Purchased goods in cash) 30,000
To Sales A/c
(Being Sold good to on credit) 12,000
To Naman 12,000
To Cash 200
Furniture A/c
To Cash Dr. 5,000
Mar.18 (Being Purchased furniture in cash) 5,000
To Bank 6,000
Cash A/c
To Bank 3,000
20,000
To Sales A/c
(Being Sold goods for Cash)
Ledger
Cash Account
Dr. Cr.
Amount Amount
2021 2021
2,38,700 2,38,700
Bank Account
Dr. Cr.
Amount Amount
2021 2021
Mar.20 4,000
Mar.02 Cash 80,000 Drawings
80,000 80,000
Capital Account
Dr. Cr.
Amount Amount
2021 2021
2,00,000 2,00,000
Purchases Account
Dr. Cr.
2020 2020
52,000 52,000
Raj Account
Dr. Cr.
Amount Amount
2020 2020
22,000 22,000
Sales Account
Dr. Cr.
Amount Amount
2020 2020
32,000 32,000
Naman
Dr. Cr.
Amount Amount
2020 2020
12,000 12,000
Dr. Cr.
Amount Amount
2020 2020
300 300
Wages Account
Dr. Cr.
Amount Amount
2020 2020
200 200
Furniture Account
Dr. Cr.
Amount Amount
2020 2020
5,000 5,000
Drawings Account
Dr. Cr.
Amount Amount
2020 2020
9,000 9,000
Commission Account
Dr. Cr.
Amount Amount
2020 2020
Mar.31 Balance c/d 1,000 Mar.26 Cash 1,000
1,000 1,000
Dr. Cr.
Amount Amount
2020 2020
300 300
Salary Account
Dr. Cr.
Amount Amount
2020 2020
10,000 10,000