Practical Problem 09

Q.9 The following ledger balances were extracted from the books of Pawan Pawar,Pune as on 1st July 2019
2019
Aug.
1	Introduced additional Capital Rs 40,000 4 Purchased goods for Rs 9,000 less 10% Cash Discount.
4	Bought goods from Rakesh Rs 80,000 @ 10% Trade Discount
7	Sold goods to Rashmi Rs 30,000
9	Returned goods to Rakesh Rs 20,000 (Gross)
11	Rashmi returned goods to us Rs 400
14	Paid to Rakesh Rs 40,000 @ 2% Cash Discount
22	Made purchases Rs 17,000 and amount paid by cheque
24	Cash Sales Rs 8,000
27	Bought Stationery Rs 3,000
28	Received from Rashmi Rs 39,000 by RTGS and discount allowed Rs 1000
29	Paid Salary Rs 10,000
29	Sold goods to Rashmi Rs 20,000
31	Bought goods from Rakesh Rs 36,000 and paid by cheque.
Solution :-
In the books of Pawan Pawar,Pune
Dr Cash A/c Cr
Date	Particulars	J.f	Amount	Date	Particulars	J.f	Amount
2019				2019
Jul-01	To Balance b/d		1,00,000	Jul-14	By Rakesh ‘s A/c		39,200
1	To Capital A/c		40,000	27	By Stationery A/c		3,000
24	To Sales A/c		8,000	29	By Salary A/c		10,000
				31	By Ba/ance c/d		95,800
			1,48,000				1,48,000
Aug-01	To Balance b/d		95,800


Dr Capital A/c Cr
Date	Particulars	J.f	Amount	Date	Particulars	J.f	Amount
2019				2019
Jul-31	To Balance c/d		5,20,000	Jul-01	By Balance b/d		4,80,000
				1	By Cash A/c		40,000
			5,20,000				5,20,000
				Aug-01	By Ba/ance b/d		5,20,000


Dr Rakesh’s A/c Cr
Date	Particulars	J.f	Amount	Date	Particulars	J.f	Amount
2019				2019
Jul-19	To Purchase Return A/c		18,000	Jul-01	By Balance b/d		56,000
14	To Cash A/c		39,200	28	By Purchases A/c		72,000
14	To Discount Received A/c		800
31	To Balance c/d		70,000
			1,28,000				1,28,000
				Aug-1	By Balance b/d		70,000


Dr Rashi’s A/c Cr
Date	Particulars	J.f	Amount	Date	Particulars	J.f	Amount
2019				2019
Jul-01	To Balance b/d		70,000	Jul-11	By Sales Return A/c		400
7	To Sales A/c		30,000	4	By Bank a/c		39,000
29	To Sales A/c		20,000	28	By Discount Allowed A/c		1,000
				31	By Balance c/d		79,600
			1,20,000				1,20,000
Aug-01	To Balance b/d		79,600


Dr Purchases A/c Cr
Date	Particulars	J.f	Amount	Date	Particulars	J.f	Amount
2019				2019
Jul-01	To Balance b/d		1,30,000	Jul-31	By Balance c/d		2,55,000
4	To Rakesh’s A/c		72,000
22	To Bank A/c		17,000
31	To Bank A/c		36,000
			2,55,000				2,55,000
Aug-01	To Balance b/d		2,55,000


Dr Sales A/c Cr
Date	Particulars	J.f	Amount	Date	Particulars	J.f	Amount
2019				2019
Jul-01	To Balance c/d		4,18,000	Jul-01	By Balance b/d		3,60,000
				7	By Rashmi’s A/c		30,000
				24	By Cash A/c		8,000
				29	By Rashmi’s A/c		20,000
			4,18,000				4,18,000
				Aug-1	By Baalnce b/d		4,18,000


Dr Purchases Return A/c Cr
Date	Particulars	J.f	Amount	Date	Particulars	J.f	Amount
2019				2019
Jul-31	To Balance c/d		78,000	Jul-01	By Balance b/d		60,000
				9	By Rakesh’s A/c		18,000
			78,000				78,000
				Aug-01	By Balance b/d		78,000


Dr Sales Return Cr
Date	Particulars	J.f	Amount	Date	Particulars	J.f	Amount
2019				2019
Jul-01	To Balance b/d		40,000	Jul-31	By Balance c/d		40,400
11	To Rashmi’s A/c		400
			40,400				40,400
Aug-01	To Balance b/d		40,400


Dr Discount Received A/c Cr
Date	Particulars	J.f	Amount	Date	Particulars	J.f	Amount
2019				2019
Jul-31	To Balance c/d		800	Jul-14	By Rakesh’s A/c		800
			800				800
				Aug-01	By Balance b/d		800


Dr Bank A/c Cr
Date	Particulars	J.f	Amount	Date	Particulars	J.f	Amount
2019				2019
Jul-01	To Balance c/d		1,80,000	Jul-22	By PurchaseA/c		17,000
28	To Rashmi’s a/c		39,000	31	By PurchaseA/c		36,000
				31	By Balance c/d		1,66,000
			2,19,000				2,19,000
Aug-01	To Balance b/d		1,66,000


Dr Stationery A/c Cr
Date	Particulars	J.f	Amount	Date	Particulars	J.f	Amount
2019				2019
Jul-01	To Balance b/d		2,000	Jul-31	By Balance c/d		5,000
27	To Cash A/c		3,000
			5,000				5,000
Aug-01	To Balance b/d		5,000


Dr Discount Allowed A/c Cr
Date	Particulars	J.f	Amount	Date	Particulars	J.f	Amount
2019				2019
Jul-28	To Rashmi’s A/c		1,000	Jul-31	By Balance c/d		1,000
			1,000				1,000
Aug-01	To Balance b/d		1,000


Dr Salary A/c Cr
Date	Particulars	J.f	Amount	Date	Particulars	J.f	Amount
2019				2019
Jul-29	To Cash A/c		10,000	Aug-31	By Balance c/d		10,000
			10,000				10,000
Aug-01	To Balance b/d		10,000


Dr Machinery A/c Cr
Date	Particulars	J.f	Amount	Date	Particulars	J.f	Amount
2019				2019
Jul-01	To Balance b/d		4,40,000	Jul-31	By Balance c/d		4,40,000
			4,40,000				4,40,000
Aug-01	To Balance b/d		4,40,000


Dr Interest A/c Cr
Date	Particulars	J.f	Amount	Date	Particulars	J.f	Amount
2019				2019
Jul-31	To Balance c/d		6,000	Jul-01	By Balance b/d		6,000
			6,000				6,000
				Aug-1	By Balance b/d		6,000

Trial Balance
Debit Balances	Amount	Credit balances	Amount
Cash	95,800	Capital	5,20,000
Rashmi	79,600	Rakesh	70,000
Purchases	2,55,000	Sales	4,18,000
Sales Return	40,400	Purchase Return	78,000
Bank	1,66,000	Discount Allowed	800
Stationery	5,000	Interest	6,000
Discoutn Allowed	1,000
Salary	10,000
Machinery	4,40,000
	10,92,800		10,92,800

Practical Problem 09

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