Practical Problem 04
| Q.4 Journalise the following transactions and prepare Cash A/c only. | |||||||||||
| 2019 | |||||||||||
| July | |||||||||||
| 1 | Hardik started business with Cash Rs 15,000 and Machinery Rs 20,000 4 Purchased goods for Rs 9,000 less 10% Cash Discount. | ||||||||||
| 4 | Purchased goods for Rs 9,000 less 10% Cash Discount. | ||||||||||
| 9 | Sold goods to Amar Rs 3,000 | ||||||||||
| 12 | Distributed goods worth Rs 700 as free samples. | ||||||||||
| 14 | Bought Stationery for Rs 550 for office use. | ||||||||||
| 18 | Received Rs 950 from Dhanashree, a customer, whose account was earlier written off as a bad debts. | ||||||||||
| 21 | Abhiram invoiced us goods worth Rs 3,000. | ||||||||||
| 24 | Settled Abhiram’s account, he allowed 5% cash discount. | ||||||||||
| 27 | Exchanged goods worth 2,500 against Furniture of the same amount. | ||||||||||
| 29 | Withdrawn cash from ATM Rs 5,000 for office use and Rs 3,000 for personal use. | ||||||||||
| Solution :- | |||||||||||
| Date | Particulars | L.F | Debit Amount | Credit Amount | |||||||
| 2019 | |||||||||||
| Jul-01 | Cash A/c Dr | 15,000 | |||||||||
| Machinery A/c Dr | 20,000 | ||||||||||
| To Capital A/c | 35,000 | ||||||||||
| (Being started bussiness with cash and machinery ) | |||||||||||
| 4 | Purchases A/c Dr | 9,000 | |||||||||
| To Cash A/c | 8,100 | ||||||||||
| To Discount A/c | 900 | ||||||||||
| ( Being purchased goods at 10% cash discount) | |||||||||||
| 9 | Amar’s A/c Dr | 3,000 | |||||||||
| To Sales A/c | 3,000 | ||||||||||
| ( Being Sold goods to amar on credit) | |||||||||||
| 12 | Advertisement A/c Dr | 700 | |||||||||
| To Goods distributed as free samples A/c | 700 | ||||||||||
| ( Being goods distributed as free samples ) | |||||||||||
| 14 | Stationery A/c Dr | 550 | |||||||||
| To Cash A/c | 550 | ||||||||||
| ( Being Purchased stationery ) | |||||||||||
| 18 | Cash A/c Dr | 950 | |||||||||
| To Bad Debtd Recovery A/c | 950 | ||||||||||
| ( Being the amount previously written off as bad debts now recovered from Dhanashree) | |||||||||||
| 21 | Purchases A/c Dr | 3,000 | |||||||||
| To Abhiram’s A/c | 3,000 | ||||||||||
| ( Being Purchased goods from abhiram on credit ) | |||||||||||
| 24 | Abhiram’s A/c Dr | 3,000 | |||||||||
| To Cash A/c | 2,850 | ||||||||||
| To Discount Received A/c | 150 | ||||||||||
| ( Being paid to Abhiram in full settlement of his account & discount received at 5%) | |||||||||||
| 27 | Furniture A/c Dr | 2,500 | |||||||||
| To Sales A/c | 2,500 | ||||||||||
| ( Being exchanged goods against furniture of the same amount ) | |||||||||||
| 29 | Cash A/c Dr | 5,000 | |||||||||
| Drawings A/c Dr | 3,000 | ||||||||||
| To Bank A/c | 8,000 | ||||||||||
| ( Being cash withdrawn from bank for office & personal use) | |||||||||||
| Total | 65,700 | 65,700 | |||||||||
| Dr Cash A/c Cr | |||||||||||
| Date | Particulars | J.L | Amount | Date | Particulars | J.L | Amount | ||||
| 2019 | 2019 | ||||||||||
| Jul-01 | To Capital A/c | 15,000 | Jul-04 | By Purchases A/c | 8,100 | ||||||
| 18 | To Bad Debts Recovery A/c | 950 | 14 | By Stationery A/c | 550 | ||||||
| 29 | To Bank A/c | 5,000 | 24 | By Abhiram ‘ s A/c | 2,850 | ||||||
| 31 | By Balance c/d | 9,450 | |||||||||
| 20,950 | 20,950 | ||||||||||
| Aug-01 | To Balance b/d | 9,450 | |||||||||