Practical Problem 06

Q.6 Prepare Cash A/c, Bank A/c, Purchases A/c, Sales A/c and Capital A/c. and balance the same in the books of Madanlal.
1Started business with bank balance Rs 40,000.
4 Purchased goods for Rs 9,000 less 10% Cash Discount.
2Purchased goods from Aseem worth Rs 15,000 less 10% Trade Discount.
3Sold goods to Arun for Rs 8,000 for cash.
4Paid Rent Rs 3,000 and Electricity bill Rs 500.
5Purchased 100 Shares of Perfect Technologies for Rs 55 per share and paid Brokerage Rs 250 by transfer through netbanking.
6Withdrawal of goods for personal use Rs 500.
7Sold goods for cash Rs 5,000 less 10% Cash Discount.
8Deposited cash into Bank Rs 2,000.
9Paid Rs 3,000 for daughter’s tuition fees by Debit Card.
10Purchased a Table for Rs 2,000.
19Received Rs 1,500 by selling the scrap.
27Paid cash into bank in excess of Rs 2,000
Solution :-          
                                                                           In the books of mandanlal
Dr                                                                                           Cash A/c                                                                                      Cr 
DateParticulars J.FAmount DateParticulars J.FAmount 
2019   2019   
Aug-03To Sales A/c  8,000Aug-04By Rent A/c  3,000
7To Sales A/c  4,5004By Electricity Charges A/c  500
19To  Scrap sale A/c  1,5008By Bank A/c  2,000
    10By Furniture A/c  2,000
    27By Bank A/c  4,500
    31By Balance C/d  2,000
   14,000   14,000
Sep-01To Balance b/d  2,000    
Dr                                                                                              BankA/c                                                                                        Cr 
DateParticulars J.FAmount DateParticulars J.FAmount 
2019   2019   
Aug-01To Capital A/c  40,000Aug-05By Investment in shares in perfect Technologies A/c   
8To Cash A/c  2,0005By Brokerage A/c  250
27To Cash A/c  4,5009By Drawings A/c  3,000
    31By Balance c/d  37,750
   46,500   46,500
Jun-01To Balance b/d  37,750    
Dr                                                                                    Purchases A/c                                                                               Cr 
DateParticulars J.FAmount DateParticulars J.FAmount 
2019   2019   
Aug-02To Aseem’s A/c  13,500Aug-31By Balance c/d  13,500
   13,500   13,500
Sep-01To Balance b/d  13,500    
Dr                                                                                       Sales  A/c                                                                                      Cr 
DateParticulars J.FAmount DateParticulars J.FAmount 
2019   2019   
Aug-31To Balance c/d  13,000Aug-03By Cash A/c 8,000
    7By Cash A/c 4,500
    7By Discount Allowed A/c  500
   13,000   13,000
    Sep-01By Balance b/d  13,000
Dr                                                                                        Cash A/c                                                                                           Cr 
DateParticulars J.FAmount DateParticulars J.FAmount 
2019   2019   
Aug-31To Balance c/d  40,000Aug-01By Bank A/c  40,000
   40,000   40,000
    Sep-01By Balance b/d 40,000