Ledger :: Problems & Solutions

No.

Problems & Solutions

01.

Mr. Ramu has the following transactions in the month of July.

Record them into the journal and show postings in the ledger and balance the accounts.

July 1st :
1st :
2nd :
3rd :
4th :
5th :
6th :
7th :
8th :
9th :
10th :
11th :
12th :
13th :
14th :
15th :
16th :
17th :
19th :
20th : Ramu started business with a capital of Rs. 75,000
Purchased goods from Manu on credit Rs. 25,000
Sold goods to Sonu Rs.20,000
Purchased goods from Meenu for cash Rs. 15,000
Sold goods to Tanu for cash Rs. 16,000
Goods retuned to Manu Rs. 2,000
Bought furniture for Rs.15,000
Bought goods from Zenu Rs. 12,000
Cash paid to Manu Rs. 10,000
Sold goods to Jane Rs. 13,500
Goods returned from Sonu Rs. 3,000
Cash received from Jane Rs. 5,500
Goods taken by Ramu for domestic use Rs. 3,000
Returned Goods to Zenu Rs. 1,000
Cash received from Sonu Rs. 12,000
Bought machinery for Rs. 18,000
Sold part of the furniture for Rs. 1,000
Cash paid for the purchase of bicycle for Ramu’s son Rs. 1,500
Cash sales Rs. 15,000
Cash purchases Rs.13,500

Solution »

Hide/Show

Journal in the books of Mr. Ramu for the period from July 1st, 2005 to July 30th, 2005

Date V/R
No. Particulars L/F Debit Amount
(in Rs) Credit Amount
(in Rs)

July 1st – Cash a/c
To Capital a/c
[Being the amount received from Mr. Ramu, the proprietor as his capital contribution vide receipt no:___ dated:__] Dr –
– 75,000
75,000

July 1st – Goods/Stock a/c
To Manu a/c
[Being the value of stock purchased from Mr. Manu vide bill no:___ dated:__ ] Dr –
– 25,000
25,000

July 2nd – Sonu a/c
To Goods/Stock a/c
[Being the value of stock sold to Mr.Sonu vide bill no:___ dated:__ ] Dr –
– 20,000
20,000

July 3rd – Goods/Stock a/c
To Meenu a/c
[Being the value of stock purchased from Mr.Meenu on credit vide bill no:___ dated:__ ] Dr –
– 15,000
15,000

July 4th – Cash a/c
To Goods/Stock a/c
[Being the value of stock sold to Mr. Tanu for cash vide receipt no:___ dated:__ ] Dr –
– 16,000
16,000

July 5th – Manu a/c
To Goods/Stock a/c
[Being the value of stock returned to Mr. Manu vide bill no:___ dated:__ ] Dr –
– 2,000
2,000

July 6th – Furniture a/c
To Cash a/c
[Being the value of furniture purchased from M/s ___vide bill no:___ dated:__ ] Dr –
– 15,000
15,000

July 7th – Goods/Stock a/c
To Zenu a/c
[Being the value of stock Purchased from Mr. Zenu vide bill no:___ dated:__ ] Dr –
– 12,000
12,000

July 8th – Manu a/c
To Cash a/c
[Being the amount paid to Mr. Manu vide vocher no:___ dated:__ ] Dr –
– 10,000
10,000

July 9th – Jane a/c
To Goods/Stock a/c
[Being the value of stock Sold to Ms.Zane vide bill no:___ dated:__ ] Dr –
– 13,500
13,500

July 10th – Goods/Stock a/c
To Sonu a/c
[Being the value of stock returned from Mr. Sonu vide bill no:___ dated:__ ] Dr –
– 3,000
3,000

July 11th – Cash a/c
To Jane a/c
[Being the amount of cash received from Ms. Jane vide cash receipt no:___ dated:__ ] Dr –
– 5,500
5,500

July 12th – Drawings a/c
To Good/stock a/c
[Being the amount of stock taken by Ramu for domestic use vide bill no:___ dated:__ ] Dr –
– 3,000
3,000

July 13th – Zenu a/c
To Goods/stock a/c
[Being the amount of stock returned to Mr. Zenu vide bill no:___ dated:__ ] Dr –
– 1,000
1,000

July 14th – Cash a/c
To Sonu a/c
[Being the amount of cash received from Mr. Sonu vide cash receipt no:___ dated:__ ] Dr –
– 12,000
12,000

July 15th – Machinery a/c
To Cash a/c
[Being the amount paid for machinery purchased to M/s ____vide vocher no:___ dated:__ ] Dr –
– 18,000
18,000

July 16th – Cash a/c
To Furniture a/c
[Being the amount received on sale of furniture vide cash receipt no:___ dated:__ ] Dr –
– 1,000
1,000

July 17th – Drawings a/c
To Cash a/c
[Being the amount of cash paid for bicycle purchases for proprietor's son vide vocher no:___ dated:__ ] Dr –
– 1,500
1,500

July 19th – Cash a/c
To Goods/Stock a/c
[Being the value of stock sold for cash vide receipt no:___ dated:__ ] Dr –
– 15,000
15,000

July 20th – Goods/Stock a/c
To Cash a/c
[Being the value of stock Purchased for vide vocher no:___ dated:__ ] Dr –
– 13,500
13,500

Dr Cash a/c Cr

Date Particulars J/F Amount
(in Rs) Date Particulars J/F Amount
(in Rs)

01/07/05
04/07/05
11/07/05
14/07/05
16/07/05
19/07/05 To Capital a/c
To Goods/Stock a/c
To Jane a/c
To Sonu
To Furniture a/c
To Goods/Stock a/c –
–
–
–
–
– 75,000
16,000
5,500
12,000
1,000
15,000 05/07/05
08/07/05
15/07/05
17/07/05
17/07/05
By Furniture a/c
By Manu a/c
By Machinery a/c
By Drawings a/c
By Goods/Stock a/c
–
–
–
–
–
15,000
10,000
18,000
1,500
13,500

sub-total 1,24,500 sub-total 58,000

30/07/05 By Balance c/d – 66,500

Total 1,24,500 Total 1,24,500

31/07/05 To Balance b/d – 66,500

Dr Capital a/c Cr

Date Particulars J/F Amount
(in Rs) Date Particulars J/F Amount
(in Rs)

01/07/05 By Cash a/c – 75,000

sub-total 0 sub-total 75,000

30/07/05 To Balance c/d – 75,000

Total 75,000 Total 75,000

31/07/05 By Balance b/d – 75,000

Dr Goods/Stock a/c Cr

Date Particulars J/F Amount
(in Rs) Date Particulars J/F Amount
(in Rs)

01/07/05
03/07/05
07/07/05
10/07/05
20/07/05

To Manu a/c
To Meenu a/c
To Zenu a/c
To Sonu a/c
To Cash a/c

–
–
–
–
–

25,000
15,000
12,000
3,000
13,500

02/07/05
04/07/05
05/07/05
05/07/05
05/07/05
13/07/05
19/07/05
By Sonu a/c
By Goods /stock a/c
By Manu a/c
By Zane a/c
By Drawings a/c
By Zenu a/c
By Cash a/c –
–
–
–
–
–
– 15,000
16,000
2,000
13,500
3,000
1,000
15,000
65,500
3,000
68,500

sub-total 68,500 sub-total 65,500

– 30/07/05 To Balance c/d – 3,000

Total 68,500 Total 68,500

31/07/05 To Balance b/d – 3,000

Dr Manu a/c Cr

Date Particulars J/F Amount
(in Rs) Date Particulars J/F Amount
(in Rs)

05/07/05
o8/07/05 To Goods/Stock a/c
To Cash a/c –
– 2,000
10,000 01/07/05
By Goods/Stock a/c
–
25,000

sub-total 12,000 sub-total 25,000

30/07/05 To Balance c/d – 13,000

Total 25,000 Total 25,000

31/07/05 By Balance b/d – 13,000;

Dr Sonu a/c Cr

Date Particulars J/F Amount
(in Rs) Date Particulars J/F Amount
(in Rs)

02/07/05
To Goods/Stock a/c
–
15,000
10/07/05
14/07/05 By Goods/stock a/c
By Cash a/c –
– 3,000
12,000
Total 15,000 Total 15,000

Dr Meenu a/c Cr

Date Particulars J/F Amount
(in Rs) Date Particulars J/F Amount
(in Rs)

03/07/05 By Goods/Stock a/c – 15,000

sub-total 0 sub-total 15,000

30/07/05 To Balance c/d – 15,000

Total 15,000 Total 15,000

31/07/05 By Balance b/d – 15,000;

Dr Furniture a/c Cr

Date Particulars J/F Amount
(in Rs) Date Particulars J/F Amount
(in Rs)

06/07/05 To Cash a/c – 15,000 14/07/05 By Cash a/c – 1,000

sub-total 15,000 sub-total 1,000

30/07/05 By Balance c/d – 14,000

Total 15,000 Total 15,000

31/07/05 To Balance b/d – 14,000

Dr Zenu a/c Cr

Date Particulars J/F Amount
(in Rs) Date Particulars J/F Amount
(in Rs)

13/07/05 To Goods/Stock a/c – 1,000 07/07/05 By Goods/Stock a/c – 12,000

sub-total 1,000 sub-total 12,000

30/07/05 To Balance c/d – 11,000

Total 12,000 Total 12,000

31/07/05 By Balance b/d – 11,000;

Dr Jane a/c Cr

Date Particulars J/F Amount
(in Rs) Date Particulars J/F Amount
(in Rs)

09/07/05 To Goods/stock a/c – 13,500 11/07/05 By Cash a/c – 5,500

sub-total 13,500 sub-total 5,500

30/07/05 By Balance c/d – 8,000

Total 13,500 Total 13,500

31/07/05 To Balance b/d – 8,000

Dr Drawings a/c Cr

Date Particulars J/F Amount
(in Rs) Date Particulars J/F Amount
(in Rs)

13/07/05
17/07/05 To Goods/stock a/c
To Cash a/c –
– 3,000
1,500

sub-total 4,500 sub-total 0

30/07/05 By Balance c/d – 4,500

Total 4,500 Total 4,500

31/07/05 To Balance b/d – 4,500

Dr Machinery a/c Cr

Date Particulars J/F Amount
(in Rs) Date Particulars J/F Amount
(in Rs)

15/07/05 To Cash a/c – 3,000
18,000

sub-total 18,000 sub-total 0

30/07/05 By Balance c/d – 18,000

Total 18,000 Total 18,000

31/07/05 To Balance b/d – 18,000

No. Problems & Solutions

02.
Journalise the following transactions in the books of Moon and post them into the ledger for the month of August

Aug 10th :
11th :
12th :
13th :
14th:
16th :
17th :
18th :
19th :
20th :
21st :
22nd :
23rd :
24th :
25th :
26th :
27th :
28th :
29th :
30th : Moon commenced business with a capital of Rs. 1,50,000
Cash deposited into bank Rs. 50,000
Bought equipment for Rs. 15,000
Bought goods worth Rs. 20,000 from Star and payment made by cheque
Sold goods to Sun for Rs. 15,000 and payment received through cheque
Paid rent by cheque Rs. 5,000
Took loan from Mr. Storm Rs. 25,000
Received commission from Mr. Air by cheque Rs. 5,000
Wages paid Rs. 15,000
Withdrew from bank for personal use Rs. 3,000
Withdrew from bank for office use Rs. 10,000
Bought goods for Rs. 25,000
Cash paid into bank Rs. 30,000
Interest paid through cheque Rs. 2,000
Gave loan to Mr.Wind Rs. 10,000
Amount paid to Mr. Storm on loan account Rs. 15,000
Salary paid to Manager Mr. Liquid Rs. 5,000
Postage paid Rs. 1,000
Received cheque from Mr. Wind on loan account Rs. 3,000
Sold part of the equipment for Rs. 2,000

Solution »

Journal in the books of Mr. Moon for the period from August 10th, 2005 to August 30th, 2005

Date V/R
No. Particulars L/F Debit Amount
(in Rs) Credit Amount
(in Rs)

August 10th – Cash a/c
To Capital a/c
[Being the amount received from Mr. Moon, the proprietor as his capital contribution vide receipt no:__ dated:__ ] Dr –
– 1,50,000
1,50,000

August 11th – Bank a/c
To Cash a/c
[Being the amount of cash deposited into bank vide bill no:___ dated:__ ] Dr –
– 50,000
50,000

August 12th – Equipment a/c
To Cash a/c
[Being the value of equipment purchased from M/s___ for cash vide bill no:___ dated:__ ] Dr –
– 15,000
15,000

August 13th – Goods/Stock a/c
To Bank a/c
[Being the payment made for stock purchased vide Cheque no:__ dated:__ ] Dr –
– 20,000
20,000

August 14th – Bank a/c
To Goods/Stock a/c
[Being the amount received for stock sold to Mr. Sun vide Cheque no:__ dated:__ ] Dr –
– 15,000
15,000

August 16th – Rent a/c
To Bank a/c
[Being the amount paid for rent vide vocher no:___ dated:__ ] Dr –
– 5,000
5,000

August 17th – Cash a/c
To Loan from Storm a/c
[Being the cash received from Mr. Storm as loan vide receipt no:___ dated:__ ] Dr –
– 25,000
25,000

August 18th – Bank a/c
To Commission a/c
[Being the amount received for commission vide cheque no:__ dated:__] Dr –
– 5,000
5,000

August 19th – Wages a/c
To Cash a/c
[Being the amount paid for wages vide vocher no:___ dated:__ ] Dr –
– 15,000
15,000

August 20th – Drawings a/c
To Bank a/c
[Being the amount withdrawn from bank for personal use vide cheque no:___ dated:__ ] Dr –
– 3,000
3,000

August 21st – Cash a/c
To Bank a/c
[Being the amount withdrawn from bank for office purpose vide cheque no:___ dated:__ ] Dr –
– 10,000
10,000

August 22nd – Goods/Stock a/c
To Cash a/c
[Being the amount of cash paid for stock purchases vide vocher no:___ dated:__ ] Dr –
– 25,000
25,000

August 23rd – Bank a/c
To Cash a/c
[Being the amount deposited into bank vide vocher no:___ dated:__ ] Dr –
– 30,000
30,000

August 24th – Interest a/c
To Bank a/c
[Being the amount of interest paid vide cheque no:___ dated:__ ] Dr –
– 2,000
2,000

August 25th – Loan to Mr. Wind a/c
To Cash a/c
[Being the amount of cash given to Mr. Wind as loan vide vocher no:___ dated:__ ] Dr –
– 10,000
10,000

August 26th – Loan from Storm a/c
To Cash a/c
[Being the amount paid to Mr. Storm for repayment of loan vide vocher no:___ dated:__ ] Dr –
– 15,000
15,000

August 27th – Salary a/c
To Cash a/c
[Being the amount paid for salary to Mr. Liquid vide vocher no:___ dated:__ ] Dr –
– 5,000
5,000

August 28th – Postage a/c
To Cash a/c
[Being the amount paid for purchase of postage vide vocher no:___ dated:__ ] Dr –
– 1,000
1,000

August 29th – Bank a/c
To Equipment a/c
[Being the Cheque no:___ date___ received from Mr. Wind for repayment of loan] Dr –
– 3,000
3,000

August 30th – Cash a/c
To Loan to Mr. Wind a/c
[Being the amount received on sale of equipment vide receipt no:___ dated:__ ] Dr –
– 2,000
2,000

Dr Cash a/c Cr

Date Particulars J/F Amount
(in Rs) Date Particulars J/F Amount
(in Rs)

10/08/05
17/08/05
21/08/05
30/08/05

To Capital a/c
To loan from storm
a/c
To Bank a/c
To Equipment

–

–
–
–

15,000

25,000
10,000
2,000

11/08/05
12/08/05
19/08/05
22/08/05
23/08/05
25/08/05
26/08/05

27/08/05
28/08/05
30/08/05 By Bank a/c
By Equipment a/c
By Wages a/c
By Goods/stock a/c
By Bank a/c
By Loan to Wind a/c
By Loan from storm
a/c
By Salaries a/c
By Postage a/c
By Balance c/d –
–
–
–
–
–

–
–
–
– 50,000
15,000
15,000
25,000
30,000
10,000

15,000

5,000
1,000
21,000

Total 1,87,000 Total 1,87,000

31/07/05 To Balance b/d – 21,000

Dr Capital a/c Cr

Date Particulars J/F Amount
(in Rs) Date Particulars J/F Amount
(in Rs)

30/08/05
To Balance c/d
–
1,50,000 10/08/05
By Cash a/c
–
1,50,000

1,50,000 1,50,000

31/08/05 By Balance b/d – 1,50,000

Dr Bank a/c Cr

Date Particulars J/F Amount
(in Rs) Date Particulars J/F Amount
(in Rs)

11/08/05
14/08/05
18/08/05
23/08/05
29/08/05
T0 Cash a/c
To Goods/Stock a/c
To Commission a/c
To Cash
To Loan to Mr wind
a/c
–
–
–
–

–
50,000
15,000
5,000
30,000

3,000
13/08/05
16/08/05
20/08/05
21/08/05
24/08/05
30/08/05 By Goods/Stock a/c
By Rent a/c
By Drawings a/c
By Cash a/c
By Interest a/c
By Balance c/d –
–
–
–
–
– 20,000
5,000
3,000
10,000
2,000
63,000

1,03,000 1,03,000

31/08/05 To Balance b/d – 63,000

Dr Equipment a/c Cr

Date Particulars J/F Amount
(in Rs) Date Particulars J/F Amount
(in Rs)

12/08/05
To Cash a/c
–
15,000
30/08/05
30/08/05 By Cash a/c
By Balance c/d –
– 2,000
13,000

15,000 15,000

31/08/05 To Balance b/d – 13,000

Dr Goods/Stock a/c Cr

Date Particulars J/F Amount
(in Rs) Date Particulars J/F Amount
(in Rs)

13/08/05
22/08/05
To Bank a/c
To Cash a/c
–
–
20,000
25,000
14/08/05

30/08/05 By Bank a/c

By Balance c/d –

– 15,000

30,000

45,000 45,000

31/08/05 To Balance b/d – 30,000

Dr Rent a/c Cr

Date Particulars J/F Amount
(in Rs) Date Particulars J/F Amount
(in Rs)

16/08/05
To Bank a/c
–

5,000
30/08/05
By Balance c/d
–
5,000

5,000 5,000

31/08/05 To Balance b/d – 5,000

Dr Loan from Storm a/c Cr

Date Particulars J/F Amount
(in Rs) Date Particulars J/F Amount
(in Rs)

26/08/05
30/08/05 To Cash a/c
To Balance c/d –
– 15,000
10,000 17/08/05
By Cash a/c
–
25,000

25,000 25,000

31/08/05 By Balance b/d – 10,000

Dr Commission a/c Cr

Date Particulars J/F Amount
(in Rs) Date Particulars J/F Amount
(in Rs)

30/08/05
To Balance c/d
–
5,000 18/08/05
By Bank a/c
–
5,000

5,000 5,000

31/08/05 By Balance b/d – 5,000

Dr Wages a/c Cr

Date Particulars J/F Amount
(in Rs) Date Particulars J/F Amount
(in Rs)

19/08/05
To Cash a/c
–
15,000

30/08/05
By Balance c/d
–
15,000

15,000 15,000

31/08/05 To Balance b/d – 15,000

Dr Drawings a/c Cr

Date Particulars J/F Amount
(in Rs) Date Particulars J/F Amount
(in Rs)

20/08/05
To Bank a/c
–
3,000

30/08/05
By Balance c/d
–
3,000

3,000 3,000

31/08/05 To Balance b/d – 3,000

Dr Interest a/c Cr

Date Particulars J/F Amount
(in Rs) Date Particulars J/F Amount
(in Rs)

24/08/05
To Bank a/c
–
2,000

30/08/05
By Balance c/d
–
2,000

2,000 2,000

31/08/05 To Balance b/d – 2,000

Dr Loan to Wind a/c Cr

Date Particulars J/F Amount
(in Rs) Date Particulars J/F Amount
(in Rs)

25/08/05
To Cash a/c
–
10,000
29/08/05
30/08/05 By Bank
By Balance c/d –
– 3,000
7,000

10,000 10,000

31/08/05 To Balance b/d – 7,000

Dr Salaries a/c Cr

Date Particulars J/F Amount
(in Rs) Date Particulars J/F Amount
(in Rs)

27/08/05
To Cash a/c
–
5,000

30/08/05
By Balance c/d
–
5,000

5,000 5,000

31/08/05 To Balance b/d – 5,000

Dr Postage a/c Cr

Date Particulars J/F Amount
(in Rs) Date Particulars J/F Amount
(in Rs)

28/08/05
To Cash a/c
–
1,000

30/08/05
By Balance c/d
–
1,000

1,000 1,000

31/08/05 To Balance b/d – 1,000

Author Credit : The Edifier