Ledger :: Problems & Solutions

Problem : 1

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

Solution »

Journal in the books of Mr. Ramu for the period from July 1st, 20_5 to July 30th, 20_5
Date V/R
No.
Particulars L/F Amount
(Dr)
Credit
(Cr)
July 1st Cash a/c
To Capital a/c
Dr
75,000
75,000
[Being the amount received from Mr. Ramu, the proprietor as his capital contribution vide receipt no:___ dated:__]
July 1st Goods/Stock a/c
To Manu a/c
Dr
25,000
25,000
[Being the value of stock purchased from Mr. Manu vide bill no:___ dated:__ ]
July 2nd Sonu a/c
To Goods/Stock a/c
Dr
20,000
20,000
[Being the value of stock sold to Mr.Sonu vide bill no:___ dated:__ ]
July 3rd Goods/Stock a/c
To Meenu a/c
Dr
15,000
15,000
[Being the value of stock purchased from Mr.Meenu on credit vide bill no:___ dated:__ ]
July 4th Cash a/c
To Goods/Stock a/c
Dr
16,000
16,000
[Being the value of stock sold to Mr. Tanu for cash vide receipt no:___ dated:__ ]
July 5th Manu a/c
To Goods/Stock a/c
Dr
2,000
2,000
[Being the value of stock returned to Mr. Manu vide bill no:___ dated:__ ]
July 6th Furniture a/c
To Cash a/c
Dr
15,000
15,000
[Being the value of furniture purchased from M/s ___vide bill no:___ dated:__ ]
July 7th Goods/Stock a/c
To Zenu a/c
Dr
12,000
12,000
[Being the value of stock Purchased from Mr. Zenu vide bill no:___ dated:__ ]
July 8th Manu a/c
To Cash a/c
Dr
10,000
10,000
[Being the amount paid to Mr. Manu vide voucher no:___ dated:__ ]
July 9th Jane a/c
To Goods/Stock a/c
Dr
13,500
13,500
[Being the value of stock Sold to Ms.Zane vide bill no:___ dated:__ ]
July 10th Goods/Stock a/c
To Sonu a/c
Dr
3,000
3,000
[Being the value of stock returned from Mr. Sonu vide bill no:___ dated:__ ]
July 11th Cash a/c
To Jane a/c
Dr
5,500
5,500
[Being the amount of cash received from Ms. Jane vide cash receipt no:___ dated:__ ]
July 12th Drawings a/c
To Good/stock a/c
Dr
3,000
3,000
[Being the amount of stock taken by Ramu for domestic use vide bill no:___ dated:__ ]
July 13th Zenu a/c
To Goods/stock a/c
Dr
1,000
1,000
[Being the amount of stock returned to Mr. Zenu vide bill no:___ dated:__ ]
July 14th Cash a/c
To Sonu a/c
Dr
12,000
12,000
[Being the amount of cash received from Mr. Sonu vide cash receipt no:___ dated:__ ]
July 15th Machinery a/c
To Cash a/c
Dr
18,000
18,000
[Being the amount paid for machinery purchased to M/s ____vide voucher no:___ dated:__ ]
July 16th Cash a/c
To Furniture a/c
Dr
1,000
1,000
[Being the amount received on sale of furniture vide cash receipt no:___ dated:__ ]
July 17th Drawings a/c
To Cash a/c
Dr
1,500
1,500
[Being the amount of cash paid for bicycle purchases for proprietor's son vide voucher no:___ dated:__ ]
July 19th Cash a/c
To Goods/Stock a/c
Dr
15,000
15,000
[Being the value of stock sold for cash vide receipt no:___ dated:__ ]
July 20th Goods/Stock a/c
To Cash a/c
Dr
13,500
13,500
[Being the value of stock Purchased for vide voucher no:___ dated:__ ]
Cash a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
01/07/_5
04/07/_5
11/07/_5
14/07/_5
16/07/_5
19/07/_5
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/_5
08/07/_5
15/07/_5
17/07/_5
17/07/_5
 
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/_5 By Balance c/d 66,500
  Total   1,24,500   Total   1,24,500
31/07/_5 To Balance b/d 66,500        
Capital a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
        01/07/_5 By Cash a/c 75,000
  sub-total   0   sub-total   75,000
30/07/_5 To Balance c/d 75,000        
  Total   75,000   Total   75,000
        31/07/_5 By Balance b/d 75,000
Goods/Stock a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
01/07/_5
03/07/_5
07/07/_5
10/07/_5
20/07/_5
 
 
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/_5
04/07/_5
05/07/_5
05/07/_5
05/07/_5
13/07/_5
19/07/_5
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
  sub-total   68,500   sub-total   65,500
      30/07/_5 To Balance c/d 3,000
  Total   68,500   Total   68,500
31/07/_5 To Balance b/d 3,000        
Manu a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
05/07/_5
o8/07/_5
To Goods/Stock a/c
To Cash a/c

2,000
10,000
01/07/_5
 
By Goods/Stock a/c
 

 
25,000
 
  sub-total   12,000   sub-total   25,000
30/07/_5 To Balance c/d 13,000        
  Total   25,000   Total   25,000
        31/07/_5 By Balance b/d 13,000;
Sonu a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
02/07/_5
 
To Goods/Stock a/c
 

 
15,000
 
10/07/_5
14/07/_5
By Goods/stock a/c
By Cash a/c

3,000
12,000
  Total   15,000   Total   15,000
Meenu a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
        03/07/_5 By Goods/Stock a/c 15,000
  sub-total   0   sub-total   15,000
30/07/_5 To Balance c/d 15,000        
  Total   15,000   Total   15,000
        31/07/_5 By Balance b/d 15,000;
Furniture a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
06/07/_5 To Cash a/c 15,000 14/07/_5 By Cash a/c 1,000
  sub-total   15,000   sub-total   1,000
        30/07/_5 By Balance c/d 14,000
  Total   15,000   Total   15,000
31/07/_5 To Balance b/d 14,000        
Zenu a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
13/07/_5 To Goods/Stock a/c 1,000 07/07/_5 By Goods/Stock a/c 12,000
  sub-total   1,000   sub-total   12,000
30/07/_5 To Balance c/d 11,000        
  Total   12,000   Total   12,000
        31/07/_5 By Balance b/d 11,000;
Jane a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
09/07/_5 To Goods/stock a/c 13,500 11/07/_5 By Cash a/c 5,500
  sub-total   13,500   sub-total   5,500
        30/07/_5 By Balance c/d 8,000
  Total   13,500   Total   13,500
31/07/_5 To Balance b/d 8,000        
Drawings a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
13/07/_5
17/07/_5
To Goods/stock a/c
To Cash a/c

3,000
1,500
 
 
 
 
 
 
 
 
  sub-total   4,500   sub-total   0
        30/07/_5 By Balance c/d 4,500
  Total   4,500   Total   4,500
31/07/_5 To Balance b/d 4,500        
Machinery a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
15/07/_5 To Cash a/c 3,000
18,000
       
  sub-total   18,000   sub-total   0
        30/07/_5 By Balance c/d 18,000
  Total   18,000   Total   18,000
31/07/_5 To Balance b/d 18,000        

Problem : 2

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

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

Solution »

Journal in the books of Mr. Moon for the period from August 10th, 20_5 to August 30th, 20_5
Date V/R
No.
Particulars L/F Amount
(Dr)
Credit
(Cr)
August 10th Cash a/c
To Capital a/c
Dr
1,50,000
1,50,000
[Being the amount received from Mr. Moon, the proprietor as his capital contribution vide receipt no:__ dated:__ ]
August 11th Bank a/c
To Cash a/c
Dr
50,000
50,000
[Being the amount of cash deposited into bank vide bill no:___ dated:__ ]
August 12th Equipment a/c
To Cash a/c
Dr
15,000
15,000
[Being the value of equipment purchased from M/s___ for cash vide bill no:___ dated:__ ]
August 13th Goods/Stock a/c
To Bank a/c
Dr
20,000
20,000
[Being the payment made for stock purchased vide Cheque no:__ dated:__ ]
August 14th Bank a/c
To Goods/Stock a/c
Dr
15,000
15,000
[Being the amount received for stock sold to Mr. Sun vide Cheque no:__ dated:__ ]
August 16th Rent a/c
To Bank a/c
Dr
5,000
5,000
[Being the amount paid for rent vide voucher no:___ dated:__ ]
August 17th Cash a/c
To Loan from Storm a/c
Dr
25,000
25,000
[Being the cash received from Mr. Storm as loan vide receipt no:___ dated:__ ]
August 18th Bank a/c
To Commission a/c
Dr
5,000
5,000
[Being the amount received for commission vide cheque no:__ dated:__]
August 19th Wages a/c
To Cash a/c
Dr
15,000
15,000
[Being the amount paid for wages vide voucher no:___ dated:__ ]
August 20th Drawings a/c
To Bank a/c
Dr
3,000
3,000
[Being the amount withdrawn from bank for personal use vide cheque no:___ dated:__ ]
August 21st Cash a/c
To Bank a/c
Dr
10,000
10,000
[Being the amount withdrawn from bank for office purpose vide cheque no:___ dated:__ ]
August 22nd Goods/Stock a/c
To Cash a/c
Dr
25,000
25,000
[Being the amount of cash paid for stock purchases vide voucher no:___ dated:__ ]
August 23rd Bank a/c
To Cash a/c
Dr
30,000
30,000
[Being the amount deposited into bank vide voucher no:___ dated:__ ]
August 24th Interest a/c
To Bank a/c
Dr
2,000
2,000
[Being the amount of interest paid vide cheque no:___ dated:__ ]
August 25th Loan to Mr. Wind a/c
To Cash a/c
Dr
10,000
10,000
[Being the amount of cash given to Mr. Wind as loan vide voucher no:___ dated:__ ]
August 26th Loan from Storm a/c
To Cash a/c
Dr
15,000
15,000
[Being the amount paid to Mr. Storm for repayment of loan vide voucher no:___ dated:__ ]
August 27th Salary a/c
To Cash a/c
Dr
5,000
5,000
[Being the amount paid for salary to Mr. Liquid vide voucher no:___ dated:__ ]
August 28th Postage a/c
To Cash a/c
Dr
1,000
1,000
[Being the amount paid for purchase of postage vide voucher no:___ dated:__ ]
August 29th Bank a/c
To Loan to Mr. Wind a/c
Dr
3,000
3,000
[Being the Cheque no:___ date___ received from Mr. Wind for repayment of loan]
August 30th Cash a/c
To Equipment a/c
Dr
2,000
2,000
[Being the amount received on sale of equipment vide receipt no:___ dated:__ ]
Cash a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
10/08/_5
17/08/_5
21/08/_5
30/08/_5





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/_5
12/08/_5
19/08/_5
22/08/_5
23/08/_5
25/08/_5
26/08/_5
27/08/_5
28/08/_5
30/08/_5
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/_5 To Balance b/d 21,000        
Capital a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
 
30/08/_5
 
To Balance c/d
 
 
1,50,000
10/08/_5
 
By Cash a/c
 

 
1,50,000
 
      1,50,000       1,50,000
        31/08/_5 By Balance b/d 1,50,000
Bank a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
11/08/_5
14/08/_5
18/08/_5
23/08/_5
29/08/_5
 
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/_5
16/08/_5
20/08/_5
21/08/_5
24/08/_5
30/08/_5
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/_5 To Balance b/d 63,000        
Equipment a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
12/08/_5
 
To Cash a/c
 

 
15,000
 
30/08/_5
30/08/_5
By Cash a/c
By Balance c/d

2,000
13,000
      15,000       15,000
31/08/_5 To Balance b/d 13,000        
Goods/Stock a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
13/08/_5
22/08/_5
 
To Bank a/c
To Cash a/c
 


20,000
25,000
14/08/_5
 
30/08/_5
By Bank a/c
 
By Balance c/d

 
15,000
 
30,000
      45,000       45,000
31/08/_5 To Balance b/d 30,000        
Rent a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
16/08/_5
 
To Bank a/c
 

5,000

30/08/_5

By Balance c/d
 

5,000
      5,000       5,000
31/08/_5 To Balance b/d 5,000        
Loan from Storm a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
26/08/_5
30/08/_5
To Cash a/c
To Balance c/d

15,000
10,000
17/08/_5
 
By Cash a/c

25,000
      25,000       25,000
        31/08/_5 By Balance b/d 10,000
Commission a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
 
30/08/_5
 
To Balance c/d
 
 
5,000
18/08/_5
 
By Bank a/c

5,000
      5,000       5,000
        31/08/_5 By Balance b/d 5,000
Wages a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
19/08/_5
To Cash a/c

15,000
 
30/08/_5
 
By Balance c/d


15,000
      15,000       15,000
31/08/_5 To Balance b/d 15,000        
Drawings a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
20/08/_5
To Bank a/c

3,000

30/08/_5

By Balance c/d


3,000
      3,000       3,000
31/08/_5 To Balance b/d 3,000        
Interest a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
24/08/_5
To Bank a/c

2,000
 
30/08/_5
 
By Balance c/d


2,000
      2,000       2,000
31/08/_5 To Balance b/d 2,000        
Loan to Wind a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
25/08/_5
To Cash a/c

10,000
29/08/_5
30/08/_5
By Bank
By Balance c/d

3,000
7,000
      10,000       10,000
31/08/_5 To Balance b/d 7,000        
Salaries a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
27/08/_5
To Cash a/c

5,000

30/08/_5
 
By Balance c/d


5,000
      5,000       5,000
31/08/_5 To Balance b/d 5,000        
Postage a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
28/08/_5
To Cash a/c

1,000

30/08/_5
 
By Balance c/d


1,000
      1,000       1,000
31/08/_5 To Balance b/d 1,000