Accounting Cycle - Problems and Solutions

Problem - 1

Journalise the following transactions, post them into ledger and balance the accounts.Also prepare a trial balance.

Oct. 1
2
4
5
6
7
8
9
10
12
14

16
17
18
19
20
22

25
28
31

Manohar commenced business
Purchased goods from Ravi
Sold goods to Gopi
Cash purchases
Cash paid into bank
Paid for salaries
Sold for cash
Bought furniture paid by cheque
Goods returned to Ravi
Bought goods from Sobhan
Cash paid to Ravi
Discount received
Goods returned from Gopi
Deposited cash into bank
Sold goods to Bhuwan
Paid advertisement by cheque
Paid cash to Sobhan
Cash received from Gopi
Discount allowed to him
Received interest through cheque
Goods taken by Manohar for own use
Paid for rent

1,00,000
10,000
20,000
20,000
10,000
5,000
20,000
2,000
2,000
10,000
7,800
200
3,000
10,000
12,000
1,000
5,000
6,900
100
2,000
1,000
2,000

Solution

Journal in the books of Mr. Manohar
for the period from Oct. 1^st, _5 to Oct. 31^th, _5
Date	V/R No.	Particulars		L/F	Amount (Dr)	Amount (Cr)
Oct. 1^st	–	Cash a/c To Capital a/c	Dr	– –	1,00,000	1,00,000
Oct. 1^st	–	[Being the amount of cash received from Mr. Manohar, the proprietor as his capital contribution vide receipt no:__ dated:__]		– –	1,00,000	1,00,000
2^nd	–	Purchases a/c To Ravi a/c	Dr	– –	10,000	10,000
2^nd	–	[Being the value stock of goods purchased from Mr. Ravi on credit vide bill no:__ dated:__]		– –	10,000	10,000
4^th	–	Gopi a/c To Sales a/c	Dr	– –	20,000	20,000
4^th	–	[Being the value of stock sold to MR. Gopi on credit vide bill no:___ dated:__]		– –	20,000	20,000
5^th	–	Purchases a/c To Cash a/c	Dr	– –	20,000	20,000
5^th	–	[Being the value of stock purchased for cash vide bill no:___ dated:__]		– –	20,000	20,000
6^th	–	Bank a/c To Cash a/c	Dr	– –	10,000	10,000
6^th	–	[Being the amount of cash deposited into bank vide bill no:___ dated:__]		– –	10,000	10,000
7^th	–	Salaries a/c To Cash a/c	Dr	– –	5,000	5,000
7^th	–	[Being the amount of cash paid for salaries vide voucher no:___ dated:__]		– –	5,000	5,000
8^th	–	Cash a/c To Sales a/c	Dr	– –	20,000	20,000
8^th	–	[Being the value of stock sold for cash vide bill no:___ dated:__]		– –	20,000	20,000
9^th	–	Furniture a/c To Bank a/c	Dr	– –	2,000	2,000
9^th	–	[Being the value of furniture purchased vide cheque no:___ dated:__]		– –	2,000	2,000
10^th	–	Ravi a/c To Purchase Returns a/c	Dr	– –	2,000	2,000
10^th	–	[Being the value of stock returned to MR. Ravi vide Debit note no:___ dated:__]		– –	2,000	2,000
12^th	–	Purchases a/c To Shoban a/c	Dr	– –	10,000	10,000
12^th	–	[Being the value stock of goods purchased from Mr. Shoban vide bill no:___ dated:__]		– –	10,000	10,000
14^th	–	Ravi a/c To Cash a/c To Discount Received a/c	Dr	– – –	8,000	7,800 200
14^th	–	[Being the amount of cash paid to Mr. Ravi after receiving a discount of 200 vide Vocher no:___ dated:__]		– – –	8,000	7,800 200
16^th	–	Sales Returns a/c To Gopi a/c	Dr	– –	3,000	3,000
16^th	–	[Being the value of stock returned by Mr. Gopi vide credit note no:___ dated:__]		– –	3,000	3,000
17^th	–	Bank a/c To Cash a/c	Dr	– –	10,000	10,000
17^th	–	[Being the amount of cash deposited into bank vide voucher no:___ dated:__]		– –	10,000	10,000
18^th	–	Bhuwan a/c To Sales a/c	Dr	– –	12,000	12,000
18^th	–	[Being the value of stock sold to MR. Bhuwan on credit vide bill no:___ dated:__]		– –	12,000	12,000
19^th	–	Advertisement a/c To Bank a/c	Dr	– –	1,000	1,000
19^th	–	[Being the amount paid for advertisement vide cheque no:___ dated:__]		– –	1,000	1,000
20^th	–	Shoban a/c To Cash a/c	Dr	– –	5,000	5,000
20^th	–	[Being the amount paid to shoban vide voucher no:___ dated:__]		– –	5,000	5,000
22^nd	–	Cash a/c Discount Allowed a/c To Gopi a/c	Dr Dr	– – –	6,900 100	7,000
22^nd	–	[Being the amount of cash received from Mr. Gopi after allowing a discount of 100 vide receipt no:___ dated:__]		– – –	6,900 100	7,000
25^th	–	Bank a/c To Interest a/c	Dr	– –	2,000	2,000
25^th	–	[Being the amount of cheque no:___ dated:__ received as interest]		– –	2,000	2,000
28^th	–	Drawings a/c To Purchases a/c	Dr	– –	1,000	1,000
28^th	–	[Being the value of stock taken form the business for domestic use vide bill no:___ dated:__]		– –	1,000	1,000
31^st	–	Rent a/c To Cash a/c	Dr	– –	2,000	2,000
31^st	–	[Being the amount of cash paid for rent vide voucher no:___ dated:__]		– –	2,000	2,000

General Ledger
[Books of Mr.Manohar]

Cash a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
01/10/_5 08/10/_5 22/10/_5	To Capital a/c To Sales a/c To Gopi a/c	– – –	1,00,000 20,000 6,900	05/10/_5 06/10/_5 07/10/_5 14/10/_5 17/10/_5 20/10/_5 31/10/_5 31/10/_5	By Purchases a/c By Bank a/c By Salaries a/c By Ravi a/c By Bank a/c By Shoban a/c By Rent a/c By Balance c/d	– – – – – – – –	20,000 10,000 5,000 7,800 10,000 5,000 2,000 67,100
	tl		1,26,900		tl		1,26,900
01/11/_5	To Balance b/d	–	67,100

Capital a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
31/10/_5	To Balance c/d	–	1,00,000	01/10/_5	By Cash a/c	–	1,00,000
	tl		1,00,000		tl		1,00,000
				01/11/_5	By Balance b/d	–	1,00,000

Purchases a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
02/10/_5 05/10/_5 12/10/_5	To Ravi a/c To Cash a/c To Shoban a/c	– – –	10,000 20,000 10,000	28/10/_5 31/10/_5	By Drawings a/c By Balance c/d	– –	1,000 39,000
	tl		40,000		tl		40,000
01/11/_5	To Balance b/d	–	39,000

Ravi a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
10/10/_5 14/10/_5 14/10/_5	To Purchase Returns a/c To Cash a/c To Discount Received a/c	– – –	2,000 7,800 200	02/10/_5	By Purchases a/c	–	10,000
	tl		10,000		tl		10,000

Gopi a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
04/10/_5	To Sales a/c	–	20,000	16/10/_5 22/10/_5 22/10/_5 31/10/_5	By Sales Returns a/c By Cash a/c By Discount Allowed a/c By Balance c/d	– – – –	3,000 6,900 100 10,000
	tl		20,000		tl		20,000
01/11/_5	To Balance b/d	–	10,000

Sales a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
31/10/_5	To Balance c/d	–	52,000	04/10/_5 08/10/_5 18/10/_5	By Gopi a/c By Cash a/c By Bhuwan a/c	– – –	20,000 20,000 12,000
	tl		52,000		tl		52,000
				01/11/_5	By Balance b/d	–	52,000

Bank a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
06/10/_5 17/10/_5 25/10/_5	To Cash a/c To Cash a/c To Interest a/c	– – –	10,000 10,000 2,000	09/10/_5 19/10/_5 31/10/_5	By Furniture a/c By Advertisement a/c By Balance c/d	– – –	2,000 1,000 19,000
	tl		22,000		tl		22,000
01/11/_5	To Balance b/d	–	19,000

Salaries a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
07/10/_5	To Cash a/c	–	5,000	31/10/_5	By Balance c/d	–	5,000
	tl		5,000		tl		5,000
01/11/_5	To Balance b/d	–	5,000

Furniture a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
09/10/_5	To Bank a/c	–	2,000	31/10/_5	By Balance c/d	–	2,000
	tl		2,000		tl		2,000
01/11/_5	To Balance b/d	–	2,000

Purchase Returns a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
31/10/_5	To Balance c/d	–	2,000	10/10/_5	By Ravi a/c	–	2,000
	tl		2,000		tl		2,000
				01/11/_5	By Balance b/d	–	2,000

Shoban a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
20/10/_5 31/10/_5	To Cash a/c To Balance c/d	– –	5,000 5,000	12/10/_5	By Purchases a/c	–	10,000
	tl		10,000		tl		10,000
				01/11/_5	By Balance b/d	–	5,000

Discount Received a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
31/10/_5	To Balance c/d	–	200	14/10/_5	By Ravi a/c	–	200
	tl		200		tl		200
				01/11/_5	By Balance b/d	–	200

Sales Returns a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
16/10/_5	To Gopi a/c	–	3,000	31/10/_5	By Balance c/d	–	3,000
	tl		3,000		tl		3,000
01/11/_5	To Balance b/d	–	3,000

Bhuwan a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
18/10/_5	To Sales a/c	–	12,000	31/10/_5	By Balance c/d	–	12,000
	tl		12,000		tl		12,000
01/11/_5	To Balance b/d	–	12,000

Advertisement a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
19/10/_5	To Bank a/c	–	1,000	31/10/_5	By Balance c/d	–	1,000
	tl		1,000		tl		1,000
01/11/_5	To Balance b/d	–	1,000

Discount Allowed a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
22/10/_5	To Gopi a/c	–	100	31/10/_5	By Balance c/d	–	100
	tl		100		tl		100
01/11/_5	To Balance b/d	–	100

Interest a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
31/10/_5	To Balance c/d	–	2,000	25/10/_5	By Bank a/c	–	2,000
	tl		2,000		tl		2,000
				01/11/_5	By Balance b/d	–	2,000

Drawings a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
28/10/_5	To Purchases a/c	–	1,000	31/10/_5	By Balance c/d	–	1,000
	tl		1,000		tl		1,000
01/11/_5	To Balance b/d	–	1,000

Rent a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
31/10/_5	To Cash a/c	–	2,000	31/10/_5	By Balance c/d	–	2,000
	tl		2,000		tl		2,000
01/11/_5	To Balance b/d	–	2,000

Trial Balance
[Modern Method]

Trial Balance of Mr. Manohar as on 31/10/_5
Particulars	L/F	Amount (Dr)	Amount (Cr)
Cash a/c Capital a/c Purchases a/c Ravi a/c Gopi a/c Sales a/c Bank a/c Salaries a/c Furniture a/c Purchase Returns a/c Shoban a/c Discount Received a/c Sales Returns a/c Bhuwan a/c Advertisement a/c Discount Allowed a/c Interest a/c Drawings a/c Rent a/c	– – – – – – – – – – – – – – – – – – –	67,100 – 39,000 – 10,000 – 19,000 5,000 2,000 – – – 3,000 12,000 1,000 100 – 1,000 2,000	– 1,00,000 – – – 52,000 – – – 2,000 5,000 200 – – – – 2,000 – –
Total		1,61,200	1,61,200

Problem - 2

Jounalise the following transactions and post them into the ledger. Also prepare a trial balance.

Nov 1

2
3
5
6
9
10
11
12
15
16
17

19
21
22

23
25
26
28
30

Venkat & Co. commenced business
with furniture 25,000,
Cash 75,000 and
goods 20,000
Sales
Purchases
Sold goods to Mahesh
Bought goods from Ramesh
Sold goods to Kesav for cash
Mahesh returned goods
Commission received
Returned goods to Ramesh
Cash deposited into bank
Bought goods from Suresh
Paid to Ramesh by cheque
Discount received
Withdrew from bank for domestic use
Sold goods to Madhav
Cash received from Mahesh
Discount allowed
Stationery expenses
Cash paid to Suresh
Cash received from Madhav
Cash deposited into bank
Paid salaries by cheque

10,000
8,000
12,000
7,000
6,000
6,000
1,000
1,500
15,000
12,000
4,000
200
3,000
9,000
4,000
100
500
3,000
5,000
10,000
3,000

Solution

Journal in the books of M/s. Venkat & Co.
for the period from Nov. 1^st, _5 to Nov. 31^th, _5
Date	V/R No.	Particulars		L/F	Amount (Dr)	Amount (Cr)
Oct. 1^st	–	Furniture a/c Cash a/c Purchases a/c To Capital a/c	Dr Dr Dr	– – – –	25,000 75,000 20,000	1,20,000
Oct. 1^st	–	[Being the amount of assets brought in by M/s Venkat & Co. as their capital contribution vide receipt no:___ dated:__]		– – – –	25,000 75,000 20,000	1,20,000
2^nd	–	Cash a/c To Sales a/c	Dr	– –	10,000	10,000
2^nd	–	[Being the value of stock sold for cash vide bill no:___ dated:__]		– –	10,000	10,000
3^rd	–	Purchases a/c To Cash a/c	Dr	– –	8,000	8,000
3^rd	–	[Being the value of stock purchased for cash vide bill no:___ dated:__]		– –	8,000	8,000
5^th	–	Mahesh a/c To Sales a/c	Dr	– –	12,000	12,000
5^th	–	[Being the value of stock sold to Mahesh vide bill no:___ dated:___]		– –	12,000	12,000
6^th	–	Purchases a/c To Ramesh a/c	Dr	– –	7,000	7,000
6^th	–	[Being the value of stock purchased to Mr. Ramesh on credit vide bill no:___ dated:__]		– –	7,000	7,000
9^th	–	Cash a/c To Sales a/c	Dr	– –	6,000	6,000
9^th	–	[Being the value of stock sold for cash to Kesav vide voucher no:___ dated:__]		– –	6,000	6,000
10^th	–	Sales Returns a/c To Mahesh a/c	Dr	– –	6,000	6,000
10^th	–	[Being the value of stock returned by Mahesh vide credit note no:__ dated:__]		– –	6,000	6,000
11^th	–	Cash a/c To Commission a/c	Dr	– –	1,000	1,000
11^th	–	[Being the amount of cash received as commission vide receipt no:____ dated:____]		– –	1,000	1,000
12^th	–	Ramesh a/c To Purchase Returns a/c	Dr	– –	1,500	1,500
12^th	–	[Being the value of stock returned to Mr. Ramesh vide credit note no:__ dated:__]		– –	1,500	1,500
15^th	–	Bank a/c To Cash a/c	Dr	– –	1,500	1,500
15^th	–	[Being the amount of cash deposited into bank vide bill no:___ dated:____]		– –	1,500	1,500
16^th	–	Purchases a/c To Suresh a/c	Dr	– –	12,000	12,000
16^th	–	[Being the value of stock Purchased from Mr. Suresh vide bill no:___ dated:__]		– –	12,000	12,000
17^th	–	Ramesh a/c To Bank a/c To Discount Received a/c	Dr	– – –	4,200	4,000 200
17^th	–	[Being the amount paid to Ramesh after receiving a discount of 200vide cheque no:___ dated:__]		– – –	4,200	4,000 200
19^th	–	Drawings a/c To Bank a/c	Dr	– –	3,000	3,000
19^th	–	[Being the amount of cash withdrawn from bank for domestic use vide cheque no:___ dated:__]		– –	3,000	3,000
21^th	–	Madhav a/c To Sales a/c	Dr	– –	9,000	9,000
21^th	–	[Being the value of stock sold to Madhav on credit vide bill no:___ dated:__]		– –	9,000	9,000
22^nd	–	Cash a/c Discount Allowed a/c To Mahesh a/c	Dr Dr	– – –	4,000 100	4,100
22^nd	–	[Being the amount of cash received from Mahesh after allowing a discount of 100 vide bill no:___ dated:__]		– – –	4,000 100	4,100
23^rd	–	Stationery a/c To Cash a/c	Dr	– –	500	500
23^rd	–	[Being the amount of cash paid for stationery expenses vide bill no:___ dated:__]		– –	500	500
25^th	–	Suresh a/c To Cash a/c	Dr	– –	3,000	3,000
25^th	–	[Being the amount of cash paid to Mr. Suresh vide bill no:___ dated:__]		– –	3,000	3,000
26^th	–	Cash a/c To Madhav a/c	Dr	– –	5,000	5,000
26^th	–	[Being the amount of cash received from Mr. Madhav vide bill no:___ dated:__]		– –	5,000	5,000
28^th	–	Bank a/c To Cash a/c	Dr	– –	10,000	10,000
28^th	–	[Being the amount of cash deposited into bank vide bill no:___ dated:____]		– –	10,000	10,000
30^th	–	Salaries a/c To Bank a/c	Dr	– –	3,000	3,000
30^th	–	[Being the amount of cash paid for salaries vide cheque no:___ dated:____]		– –	3,000	3,000

General Ledger
[Books of M/s. Venkat & Co.]

Furniture a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
01/11/_5	To Capital a/c	–	25,000	30/11/_5	By Balance c/d	–	25,000
	tl		25,000		tl		25,000
01/12/_5	To Balance b/d	–	25,000

Cash a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
01/11/_5 02/11/_5 09/11/_5 11/11/_5 22/11/_5 26/11/_5	To Capital a/c To Sales a/c To Sales a/c To Commission a/c To Mahesh a/c To Madhav a/c	– – – – – –	75,000 10,000 6,000 1,000 4,000 5,000	03/11/_5 15/11/_5 23/11/_5 25/11/_5 28/11/_5 30/11/_5	By Purchases a/c By Bank a/c By Stationery a/c By Suresh a/c By Bank a/c By Balance c/d	– – – – – –	8,000 1,500 500 3,000 10,000 78,000
	tl		1,01,000		tl		1,01,000
01/12/_5	To Balance b/d	–	78,000

Purchases a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
01/11/_5 03/11/_5 06/11/_5 16/11/_5	To Capital a/c To Cash a/c To Ramesh a/c To Suresh a/c	– – – –	20,000 8,000 7,000 12,000	30/11/_5	By Balance c/d	–	47,000
	tl		47,000		tl		47,000
01/12/_5	To Balance b/d	–	47,000

Capital a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
30/11/_5	To Balance c/d	–	1,20,000	01/11/_5 01/11/_5 01/11/_5	By Furniture a/c By Cash a/c By Purchases a/c	– – –	25,000 75,000 20,000
	tl		1,20,000		tl		1,20,000
				01/12/_5	By Balance b/d	–	1,20,000

Sales a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
30/11/_5	To Balance c/d	–	37,000	02/11/_5 05/11/_5 09/11/_5 21/11/_5	By Cash a/c By Mahesh a/c By Cash a/c By Madhav a/c	– – – –	10,000 12,000 6,000 9,000
	tl		37,000		tl		37,000
				01/12/_5	By Balance b/d	–	37,000

Mahesh a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
05/11/_5	To Sales a/c	–	12,000	10/11/_5 22/11/_5 22/11/_5 30/11/_5	By Sales Returns a/c By Cash a/c By Discount Allowed a/c By Balance c/d	– – – –	6,000 4,000 100 1,900
	tl		12,000		tl		12,000
01/12/_5	To Balance b/d	–	1,900

Ramesh a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
12/11/_5 17/11/_5 17/11/_5 30/11/_5	To Purchase Returns a/c To Bank a/c To Discount Received a/c To Balance c/d	– – – –	1,500 4,000 200 1,300	06/11/_5	By Purchases a/c	–	7,000
	tl		7,000		tl		7,000
				01/12/_5	By Balance b/d	–	1,300

Sales Returns a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
10/11/_5	To Mahesh a/c	–	6,000	30/11/_5	By Balance c/d	–	6,000
	tl		6,000		tl		6,000
01/12/_5	To Balance b/d	–	6,000

Commission a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
30/11/_5	To Balance c/d	–	1,000	11/11/_5	By Cash a/c	–	1,000
	tl		1,000		tl		1,000
				01/12/_5	By Balance b/d	–	1,000

Purchase Returns a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
30/11/_5	To Balance c/d	–	1,500	12/11/_5	By Ramesh a/c	–	1,500
	tl		1,500		tl		1,500
				01/12/_5	By Balance b/d	–	1,500

Bank a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
15/11/_5 28/11/_5	To Cash a/c To Cash a/c	– –	1,500 10,000	17/11/_5 19/11/_5 30/11/_5 30/11/_5	By Ramesh a/c By Drawings a/c By Salaries a/c By Balance c/d	– – – –	4,000 3,000 3,000 1,500
	tl		11,500		tl		11,500
01/12/_5	To Balance b/d	–	1,500

Suresh a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
25/11/_5 30/11/_5	To Cash a/c To Balance c/d	– –	3,000 9,000	16/11/_5	By Purchases a/c	–	12,000
	tl		12,000		tl		12,000
				01/12/_5	By Balance b/d	–	9,000

Discount Received a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
30/11/_5	To Balance c/d	–	200	17/11/_5	By Ramesh a/c	–	200
	tl		200		tl		200
				01/12/_5	By Balance b/d	–	200

Drawings a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
19/11/_5	To Bank a/c	–	3,000	30/11/_5	By Balance c/d	–	3,000
	tl		3,000		tl		3,000
01/12/_5	To Balance b/d	–	3,000

Madhav a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
21/11/_5	To Sales a/c	–	9,000	26/11/_5 30/11/_5	By Cash a/c By Balance c/d	– –	5,000 4,000
	tl		9,000		tl		9,000
01/12/_5	To Balance b/d	–	4,000

Discount Allowed a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
22/11/_5	To Mahesh a/c	–	100	30/11/_5	By Balance c/d	–	100
	tl		100		tl		100
01/12/_5	To Balance b/d	–	100

Stationery a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
23/11/_5	To Cash a/c	–	500	30/11/_5	By Balance c/d	–	500
	tl		500		tl		500
01/12/_5	To Balance b/d	–	500

Salaries a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
30/11/_5	To Bank a/c	–	3,000	30/11/_5	By Balance c/d	–	3,000
	tl		3,000		tl		3,000
01/12/_5	To Balance b/d	–	3,000

Trial Balance
[Modern Method]

Trial Balance of M/s. Venkat & Co. as on 30/11/_5
Particulars	L/F	Amount (Dr)	Amount (Cr)
Furniture a/c Cash a/c Purchases a/c Capital a/c Sales a/c Mahesh a/c Ramesh a/c Sales Returns a/c Commission a/c Purchase Returns a/c Bank a/c Suresh a/c Discount Received a/c Drawings a/c Madhav a/c Discount Allowed a/c Stationery a/c Salaries a/c	– – – – – – – – – – – – – – – – – –	25,000 78,000 47,000 – – 1,900 – 6,000 – – 1,500 – – 3,000 4,000 100 500 3,000	– – – 1,20,000 37,000 – 1,300 – 1,000 1,500 – 9,000 200 – – – – –
Total		1,70,000	1,70,000

Author : The Edifier

Accounting Cycle - Problems and Solutions

Problem - 1

Solution

General Ledger [Books of Mr.Manohar]

Trial Balance [Modern Method]

Problem - 2

Solution

General Ledger [Books of M/s. Venkat & Co.]

Trial Balance [Modern Method]

General Ledger
[Books of Mr.Manohar]

Trial Balance
[Modern Method]

General Ledger
[Books of M/s. Venkat & Co.]

Trial Balance
[Modern Method]