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    Navnedsfdet

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    vinay
    This document provides transaction details for Mohan Bros from January 1-31, 2008. It includes opening balances, January transactions involving cash, purchases, sales, payments, receipts, and closing entries. The task is to record the transactions in a journal, post to accounts in a ledger, prepare a trial balance and final accounts, and comment on the business's profitability, operational efficiency and liquidity.

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    Navnedsfdet

    Uploaded by

    vinay
    22 views3 pages
    This document provides transaction details for Mohan Bros from January 1-31, 2008. It includes opening balances, January transactions involving cash, purchases, sales, payments, receipts, and closing entries. The task is to record the transactions in a journal, post to accounts in a ledger, prepare a trial balance and final accounts, and comment on the business's profitability, operational efficiency and liquidity.

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    This document provides transaction details for Mohan Bros from January 1-31, 2008. It includes opening balances, January transactions involving cash, purchases, sales, payments, receipts, and closing entries. The task is to record the transactions in a journal, post to accounts in a ledger, prepare a trial balance and final accounts, and comment on the business's profitability, operational efficiency and liquidity.

    Copyright:

    © All Rights Reserved
    Download as RTF, PDF, TXT or read online from Scribd
    Download as rtf, pdf, or txt
    22 views3 pages

    Navnedsfdet

    Uploaded by

    vinay
    This document provides transaction details for Mohan Bros from January 1-31, 2008. It includes opening balances, January transactions involving cash, purchases, sales, payments, receipts, and closing entries. The task is to record the transactions in a journal, post to accounts in a ledger, prepare a trial balance and final accounts, and comment on the business's profitability, operational efficiency and liquidity.

    Copyright:

    © All Rights Reserved
    Download as RTF, PDF, TXT or read online from Scribd
    Download as rtf, pdf, or txt
    of 3

    COMPREHENSIVE PROBLEM

    Enter the following transaction is subsidiary book's


    journal proper and post them into ledger aacount.
    Prepare Trial Balance and final account. You are also
    required too comment upon the profitibilty
    operational efficency and liquidity of the enterprise.
    The following balance existed in Mohan Bros. book
    on Jan,1,2008:
    Assets-Cash in hand RS. 2500; Bank balance
    RS.8000;l Debtor-Neeraj RS 500, Loan RS. 800, Sushil
    RS. 600; Stock RS 1000 and Furniture RS.900.
    Liabilities-Bill payable RS 800;l Creditor-Sita RS.2000,
    Devender nath RS.1500 and Capital RS.10000.
    During Janaury , the following transaction place:
    2008
    Jan 1
    Cash sale
    11,800
    Jan 2

    Purchase from Sita


    250 meter cotton RS.10 per meter
    200 meter silk @ 20 per meer

    Jan 4 Bill Payable paid


    800
    Jan 5 Sold toNeeraj
    250 meter silk @ 20 per.meter

    140 meter silk @ RS 10per.meter


    Jan 6 Accepatance received from Neeraj at one
    month for RS.1500
    Jan 8 Purchase furniture from RAmeswari for RS
    1100 on Credit.
    Jan 9 Received cash from Neeraj RS.780 and
    discount allowed RS.20
    Jan 10 Gave cheque to Devender Nath for RS 1460.
    Jan 11 Accepted a bill at 2 monthg for RS 2000 drawn
    by sita.
    Jan 12 Returnedto sita
    5 meter sil @ 10 permeter
    Jan 13 Sold to Soni
    20 meter silk @ RS 20 per meter
    40 meter cotton @ RS 10 per meter
    Less: Trade Discount @ %
    Jan 14 Returned by Neeraj 20 meter cotton.
    Jan 15 Received full payment from neeraj by cheque
    sent it to Bank Discount allowed 2%.
    Jan 16
    RS.5

    Paid to Sita RS. 900 and discount allowed

    Jan 17 Purchased from Devendra Nath

    300 meter cotton @ RS 5 per meter


    300 meter silk @ RS.14 per meter
    Jan 18 Received from Soni RS.395 and dscount
    allowed RS 5
    Jan 19 Cash Purchased RS.900
    Jan 21 Depoistedinto Canara bank RS.1000
    Jan 23 Received and Banked a cheque for RS.300
    from Sourabh being the first and final dividend @ 50
    P. in the rupee. Write off the balance as bed debts.
    Jan 27 Paid rent by cheque RS 1900.
    Jan 29 Withdrawn from bank RS 1500 for ofiice use.
    Jan 30 Goods taken for personal use RS. 100
    Jan 31 Salaries paid RS. 1350
    Interest on Capital RS 100.
    Depriciation on furniture RS.50

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