Enter the following transactions in the proper subsidiary books and post them to the Ledger Accounts and balance the Account 30 June 2010.
1 Commenced business with Cash Rs.5,000/- (of which Rs.2,000/- borrowed from friend Ram) and furniture Rs.1,400/-
2 Purchased goods from Kanta Rs.1,800/- less 5%. Trade Discount.
6 Sold goods to Ketual costing Rs.400/- at 10% Profit.
7 Cash purchases Rs.500/-.
8 Cash sales – Rs.1,200/-.
9 Purchased goods from Baba Rs.500/-.
9 Paid into Bank Rs.2,000/-.
10 Returned to Kanta goods worth Rs.150/-.
11 Purchased office furniture for Rs.1,200/- and paid for same by cheque.
16 Issued a cheque to Kanta for Rs.910/-.
21 Invoiced goods to Ketual Rs.5,000/- less 2% Trade discount.
23 Ketual paid cash Rs.400/- and returned goods of Rs.140/-.
24 Purchased goods from Kanta Rs.1,300/-.
28 Returned damaged goods to Janta Rs.160/- & to Baba Rs.150/-.
28 Sold goods to Kant Rs.1,200/-.
29 Received a cheque for Rs.1,100/- from Kant and banked the same.
30 Kant, who owes us Rs.100/- pays rent Rs.100/- to our landlord on our behalf.
30 We paid Rs.75/- to Raju on instructions from our creditor Kanta on his behalf.
Based on AU MBA Accounting Solution and others
Solution:
View ledger account details from this answer Q51046a.
Now making Trial Balance from this ledger.
