Financial Accounting HW

Q 1)Journalize the transaction given below in the books kohli 2009.
2012 April: 1) Kohli starts business with Rs.200000. Kohli opens a/c with a bank & deposits Rs.180000 2)Kohli purchases furnuiture for Rs.8500 & typewriter for Rs.15000.payment by cheque 3) Goods purchased from M/s.Rao & Murthy on credit card for Rs.56000/4)Goods purchased from M/s Khan & Singh for cash Rs.11000/5)Goods sold on credit to M/s.Mr.Mohanlal & Co.Rs.15000/6)Goods sold on credit to M/s.Basu & Co.Rs.28000/7) Paid for office stationery Rs.2500/8) Paid rent for April Rs.2000/9)Installed neon sign @Rs.10000/-.paid for postage stamps Rs100/10) Received cash from M/s Mohanlal & Co.Rs 14700 allowed them discount Rs.300/11) Issued cheque for Rs.55000/- in full settlement (i.e.nothing more is due to them) to M/s.Rao & Murthy 12) Deposited Rs 12000/- with bank 13) Received bill for 2 table fans Rs.3000/- from M/s Electricians bros. 14) One electric fan stolen. 15) Paid insurance premium Rs 4500/- by cheque.
Q 2) Rolly polly was carrying out a business as a cloth dealer. On 1st July 2009 his assets were furniture & office equipment Rs.2500/-.stock of cloth Rs.25000/-.cash in hand Rs.450/-.bank balance Rs.8500.Amount due from Bittu Rs.1200/-.Amount due from Gopan Rs.1500/-.On that data, he owed Rs.2000/-to Minu & Rs.1450 to Pappu. His transactions during July2009 are as follows: July 1 -Sold cloth on credit to Gifloo Rs.500/July2-Purchased cloth from Amboo on credit Rs.2000/July3-Paid rent for July by cheque Rs.300/July4) Cash purchase of cloth (paid by cheque) Rs.800 .cash sales Rs.450/July 5) Received cheque from BittuRs.1180/-.Allowed his discount Rs.20/July 6) Paid for stationery & pstage Rs.50/July 8) Drawn cash for private use Rs.250/July 10) Drawn cash from bank for office Ra.1500/July 12)Bittoos cheque returns dishonoured by bank. Which charges Rs.5/- for expenses. July 13) Purchased goods on credit from Minu Rs.2500/July 15) Sent cheque to Minu in full settlement of amount due on July 1stRs.1950/-Sent cheque to Pappu Rs.1450/July 16) Sold goods on credit to Gopan Rs.1800/July 17) Paid telephone charges Rs.80/July 18) Cash sales Rs.300/- paid for advertising Rs.350/July 20) Paid income tax Rs.1900/-.Received letter from Pappu saying that he hasnt received the July cheque,cancelled that cheque & paid cash. July 21)Bittu become insolvent,only 50% received from his estate. July 22) Cash purchases Rs.900/July 24) Purchased filing cabinet & paid by cheque Rs.500/July 27) Purchased govt.securities Rs.3000/July 31) Paid salary for the month by cheque Rs.2800/-
Q 3) Somdutt commenced business on the 1st of Oct 2009 with rs 1, 00,000. He opened a bank account with rs 95000 and other transactions were as follows:
Oct 1: 1) purchased stationary rs 750/-. Purchased furniture and typewriter and paid by cheque 20,000/2) Purchased good on credit from m/s Khurshid Ali and sons- rs 11,000/3) Purchased good from m/s Mohan & co for 3000/-. Sold goods for cash rs 2500/4) Paid rent by cheque 3500/-. Purchased good from m/s Vasant Bros on credit rs 15000/5) Sold goods to m/s Ramlal & sons on credit 8000/- . Paid cash 4 advertisement rs 1500/6) Issued cheque in favor of m/s Khurshid Ali & sons on account 6000/-. Cash sales rs 2000/- Cash sent to bank rs 1000/7) Received cheque from M/s Ramlal & sons of rs 7800/-. Allowed them a discount of 200/8) Issued cheque in favor of M/s Vasant Bros of rs 14700/-. Discount allowed by them: 300/9) Cheque earlier received from M/s Ramlal & sons returned dishonored by bank. 10) Withdrew cash for domestic use 1500/-
Q 4) Mr. Chadda is doing business in shoes. On 1st April 2009, his assets were stock rs 310000/-. Furniture and fixture rs 56000/- , cash at bank 8000/- cash in hand 1000/-, due from Puri 15000/- due from Gopi 6000/-. His Liabilities were due to Krishna- 16000/-, mrs.Chandra's loan-50000/-. The transactions for April 2009 were as under: 01/04: a) sold old furniture for cash rs 3500/b) Purchased new furniture on credit from m/s Ravi & company: 9000/02/04: purchased good from Dimpy on credit 110000/03/04:Cash sales rs 5000/Paid rent for April 2000/04/04: cash purchases payment by cheque: 6000/Received cheque from Gopi in full settlement 5850/05/05: issued cheque in favor of Krishna full settlement: 15500/Purchased goods from Krishna on credit 9000/06/04: Puri pays cash on account 6000/07/04: paid income tax 3000/cash withdrawn from bank for domestic use 2500/10/04: gopi's cheque returned dishonored. Bank charges 50/- as expense. 11/04: sold goods on credit to puri : 1000/13/04: goods taken by proprietor for domestic use 500/15/04: issued cheque in favor of Dimpy 11000/Purchased goods from Mathur & co. payment by cheque 7000/18/04: Dimpy returns cheque dishonored by bank 20/04: Gopi declared insolvent. Only 40% received from his estate
22/04: Amount received from Pinky against a debt written off 2000/24/04: Puri sends cheque to clear the amount due on 1st April 2009
26/04: Stationary purchase 750/Paid for telephone charges 150/Paid for postage and telegram 500/31/04: Paid interest to M/s. Chadda on loan 1000/Puri returns goods not being upto the mark 1500/-

Financial Accounting HW

Uploaded by

Copyright:

Available Formats

Financial Accounting HW

Uploaded by

Document Information

Original Description:

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Financial Accounting HW

Uploaded by

Copyright:

Available Formats

Q 1)Journalize the transaction given below in the books kohli 2009.

You might also like