Future Accountant

Record the following transactions in the Journal and post them into ledger and prepare a Trail Balance

Oct 1^st	:	Neel started business with a capital of 80,000
3^rd	:	Bought goods from Karl on credit 20,000
4^th	:	Sold goods to Tarl 25,000
5^th	:	Cash purchases 25,000
7^th	:	Cash sales 15,000
9^th	:	Goods retuned to Karl 2,000
10^th	:	Bought furniture for 15,000
11^th	:	Cash paid to Karl 12,000
12^th	:	Goods returned by Tarl 3,000
14^th	:	Goods taken by Neel for personal use 3,000
15^th	:	Cash received from Tarl 12,000
16^th	:	Took loan from Parl 30,000
17^th	:	Salary paid 5,000
18^th	:	Bought stationery for 1,000
19^th	:	Amount paid to Parl on loan account 18,000
20^th	:	Interest received 4,000

Journal in the books of Mr. Neel
for the period from Oct 1^st, _5 to Oct 20^th, _5
Date	V/R No.	Particulars		L/F	Amount (Dr)	Amount (Cr)
Oct 1^st	–	Cash a/c To Capital a/c	Dr	– –	80,000	80,000
Oct 1^st	–	[Being the amount received from Mr. Neel, the proprietor as his capital contribution vide receipt no:___ dated:__]		– –	80,000	80,000
3^rd	–	Goods/stock a/c To Karl a/c	Dr	– –	20,000	20,000
3^rd	–	[Being the value of stock purchased from Mr.Karl on credit vide bill no:___ dated:__]		– –	20,000	20,000
4^th	–	Tarl a/c To Goods/stock a/c	Dr	– –	25,000	25,000
4^th	–	[Being the value of stock sold to Mr.Tarl on credit vide bill no:___ dated:__]		– –	25,000	25,000
5^th	–	Goods/stock a/c To Cash a/c	Dr	– –	25,000	25,000
5^th	–	[Being the value of stock purchased for cash vide bill no:___ dated:__]		– –	25,000	25,000
7^th	–	Cash a/c To Goods/stock a/c	Dr	– –	15,000	15,000
7^th	–	[Being the value of stock sold for cash vide receipt no:___ dated:__]		– –	15,000	15,000
9^th	–	Karl a/c To Goods/stock a/c	Dr	– –	2,000	2,000
9^th	–	[Being the value of stock returned to Mr.Karl vide bill no:___ dated:__]		– –	2,000	2,000
10^th	–	Furniture a/c To Cash a/c	Dr	– –	15,000	15,000
10^th	–	[Being the value of furniture purchased for cash from M/s ___vide bill no:___ dated:__]		– –	15,000	15,000
11^th	–	Karl a/c To Cash a/c	Dr	– –	12,000	12,000
11^th	–	[Being the amount paid to Mr. Karl vide voucher no:___ dated:__]		– –	12,000	12,000
12^th	–	Goods/stock a/c To Tarl a/c	Dr	– –	3,000	3,000
12^th	–	[Being the value of stock returned by Mr.Tarl vide bill no:___ dated:__]		– –	3,000	3,000
14^th	–	Drawings a/c To Goods/stock a/c	Dr	– –	3,000	3,000
14^th	–	[Being the amount of stock taken by Neel for Personal use vide bill no:___ dated:__]		– –	3,000	3,000
15^th	–	Cash a/c To Tarl a/c	Dr	– –	12,000	12,000
15^th	–	[Being the amount received to Mr. Tarl vide voucher no:___ dated:__]		– –	12,000	12,000
16^th	–	Cash a/c To Loan from parl a/c	Dr	– –	30,000	30,000
16^th	–	[Being the cash received from Mr. Parl as loan vide receipt no:___ dated:__]		– –	30,000	30,000
17^th	–	Salaries a/c To Cash a/c	Dr	– –	5,000	5,000
17^th	–	[Being the amount paid for Salaries vide voucher no:___ dated:__]		– –	5,000	5,000
18^th	–	Stationery a/c To Cash a/c	Dr	– –	1,000	1,000
18^th	–	[Being the value of Stationery purchased from M/s___ for cash vide bill no:___ dated:__]		– –	1,000	1,000
19^th	–	Loan from parl a/c To Cash a/c	Dr	– –	18,000	18,000
19^th	–	[Being the amount paid to Mr. Parl for repayment of loan vide voucher no:___ dated:__]		– –	18,000	18,000
20^th	–	Cash a/c To Interest a/c	Dr	– –	4,000	4,000
20^th	–	[Being the interest received in cash from M/s ____vide voucher no:___ dated:__]		– –	4,000	4,000

General Ledger
[Books of Mr. Neel]

Cash a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
01/10/_5 07/10/_5 15/10/_5 16/10/_5 20/10/_5	To Capital a/c To Goods/stock a/c To Tarl a/c To Loan from parl a/c To Interest a/c	– – – – –	80,000 15,000 12,000 30,000 4,000	05/10/_5 10/10/_5 11/10/_5 17/10/_5 18/10/_5 19/10/_5 31/10/_5	By Goods/stock a/c By Furniture a/c By Karl a/c By Salaries a/c By Stationery a/c By Loan from parl a/c By Balance c/d	– – – – – – –	25,000 15,000 12,000 5,000 1,000 18,000 65,000
	tl		1,41,000		tl		1,41,000
01/11/_5	To Balance b/d	–	65,000

Capital a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
31/10/_5	To Balance c/d	–	80,000	01/10/_5	By Cash a/c	–	80,000
	tl		80,000		tl		80,000
				01/11/_5	By Balance b/d	–	80,000

Goods/stock a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
03/10/_5 05/10/_5 12/10/_5	To Karl a/c To Cash a/c To Tarl a/c	– – –	20,000 25,000 3,000	04/10/_5 07/10/_5 09/10/_5 14/10/_5 31/10/_5	By Tarl a/c By Cash a/c By Karl a/c By Drawings a/c By Balance c/d	– – – – –	25,000 15,000 2,000 3,000 3,000
	tl		48,000		tl		48,000
01/11/_5	To Balance b/d	–	3,000

Karl a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
09/10/_5 11/10/_5 31/10/_5	To Goods/stock a/c To Cash a/c To Balance c/d	– – –	2,000 12,000 6,000	03/10/_5	By Goods/stock a/c	–	20,000
	tl		20,000		tl		20,000
				01/11/_5	By Balance b/d	–	6,000

Tarl a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
04/10/_5	To Goods/stock a/c	–	25,000	12/10/_5 15/10/_5 31/10/_5	By Goods/stock a/c By Cash a/c By Balance c/d	– – –	3,000 12,000 10,000
	tl		25,000		tl		25,000
01/11/_5	To Balance b/d	–	10,000

Furniture a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
10/10/_5	To Cash a/c	–	15,000	31/10/_5	By Balance c/d	–	15,000
	tl		15,000		tl		15,000
01/11/_5	To Balance b/d	–	15,000

Drawings a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
14/10/_5	To Goods/stock 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

Loan from parl a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
19/10/_5 31/10/_5	To Cash a/c To Balance c/d	– –	18,000 12,000	16/10/_5	By Cash a/c	–	30,000
	tl		30,000		tl		30,000
				01/11/_5	By Balance b/d	–	12,000

Salaries a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
17/10/_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

Stationery a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
18/10/_5	To Cash 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

Interest a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
31/10/_5	To Balance c/d	–	4,000	20/10/_5	By Cash a/c	–	4,000
	tl		4,000		tl		4,000
				01/11/_5	By Balance b/d	–	4,000

Trial Balance
[Modern Method]

Trial Balance of Mr. Neel as on 31/10/_5
Particulars	L/F	Amount (Dr)	Amount (Cr)
Cash a/c Capital a/c Goods/stock a/c Karl a/c Tarl a/c Furniture a/c Drawings a/c Loan from parl a/c Salaries a/c Stationery a/c Interest a/c	– – – – – – – – – – –	65,000 – 3,000 – 10,000 15,000 3,000 – 5,000 1,000 –	– 80,000 – 6,000 – – – 12,000 – – 4,000
Total		1,02,000	1,02,000

Enter the following transactions in the Journal and post them into ledger and from the information obtained prepare a Trail Balance.

Nov 10^th	:	Mrs. Roy started business with 60,000
11^th	:	Bought furniture from Modern Furniture for 10,000
12^th	:	Purchased goods for cash 15,000
13^th	:	Purchased goods from B. Sen & Co for 30,000
14^th	:	Opened a bank account by depositing 16,000
16^th	:	Sold goods for cash 15,000
17^th	:	Purchased stationery for 1000 from Bharat Stationery Mart
18^th	:	Sold goods to Zahir Khan for 10,000
19^th	:	Bought machinery for 6,000 and payment made by cheque
20^th	:	Goods returned by Zahir Khan for 2,000
21^st	:	Payment to B.Sen & Co by cheque 5,000
22^nd	:	Withdrew from bank for personal use 3,000
23^rd	:	Interest paid through cheque 2,000
24^th	:	Withdrew from bank for office expenses 10,000
26^th	:	Cheque received from Zahir Khan 5,000
27^th	:	Paid electricity bill for 100
29^th	:	Cash sales for 6,000
30^th	:	Commission received by cheque 5,000

Journal in the books of Mrs. Roy
for the period from Nov 10^th, _5 to Nov 30^th, _5
Date	V/R No.	Particulars		L/F	Amount (Dr)	Amount (Cr)
Nov 10^th	–	Cash a/c To Capital a/c	Dr	– –	60,000	60,000
Nov 10^th	–	[Being the amount received from Mr. Roy, the proprietor as his capital contribution vide receipt no:___ dated:__]		– –	60,000	60,000
11^th	–	Furniture a/c To Modern Furniture a/c	Dr	– –	10,000	10,000
11^th	–	[Being the furniture purchased for credit from M/S Modern Furniture vide bill no:___ dated:__]		– –	10,000	10,000
12^th	–	Purchases a/c To Cash a/c	Dr	– –	15,000	15,000
12^th	–	[Being the value of goods purchased from M/s___ for cash vide bill no:___ dated:__]		– –	15,000	15,000
13^th	–	Purchases a/c To B.Sen & Co a/c	Dr	– –	30,000	30,000
13^th	–	[Being the value of goods purchased for credit from M/S B.Sen & Co vide bill no:___ dated:__]		– –	30,000	30,000
14^th	–	Bank a/c To Cash a/c	Dr	– –	16,000	16,000
14^th	–	[Being the cash deposited into bank while opening a bank a/c no:___ dated:__]		– –	16,000	16,000
16^th	–	Bank a/c To Sales a/c	Dr	– –	15,000	15,000
16^th	–	[Being the value of goods sold for cash vide receipt no:___ dated:__]		– –	15,000	15,000
17^th	–	Stationery a/c To Bharat Stationery Mart a/c	Dr	– –	1,000	1,000
17^th	–	[Being the value of stationery purchased on credit from M/S Bharat Stationery Mart vide bill no:___ dated:__]		– –	1,000	1,000
18^th	–	Zahir Khan a/c To Sales a/c	Dr	– –	10,000	10,000
18^th	–	[Being the value of goods sold on credit vide invoice no:___ dated:__]		– –	10,000	10,000
19^th	–	Machinery a/c To Bank a/c	Dr	– –	6,000	6,000
19^th	–	[Being the value of machinery bought and payment made by cheque no:___ dated:__]		– –	6,000	6,000
20^th	–	Sales Returns a/c To Zahir Khan a/c	Dr	– –	2,000	2,000
20^th	–	[Being the value of goods returned by Zahir Khan vide return bill no:___ dated:__]		– –	2,000	2,000
21^st	–	B. Sen & Co a/c To Bank a/c	Dr	– –	5,000	5,000
21^st	–	[Being payment made by cheque vide cheque no:___ dated:__]		– –	5,000	5,000
22^nd	–	Drawings a/c To Bank a/c	Dr	– –	3,000	3,000
22^nd	–	[Being the amount withdraw from bank for personal use vide cheque no:___ dated:__]		– –	3,000	3,000
23^rd	–	Interest a/c To Bank a/c	Dr	– –	2,000	2,000
23^rd	–	[Being the amount of interest paid vide cheque no:___ dated:__]		– –	2,000	2,000
24^th	–	Office Expenses a/c To Bank a/c	Dr	– –	10,000	10,000
24^th	–	[Being the amount withdraw from bank for office expenses vide cheque no : ___ and voucher no:___ dated:__]		– –	10,000	10,000
26^th	–	Bank a/c To Zahir Khan a/c	Dr	– –	5,000	5,000
26^th	–	[Being cheque received from Zahir khan vide voucher no:___ dated:__]		– –	5,000	5,000
27^th	–	Electrical Bill a/c To Cash a/c	Dr	– –	100	100
27^th	–	[Being the amount paid towards electricity bill vide voucher no:___ dated:__]		– –	100	100
29^th	–	Cash a/c To Sales a/c	Dr	– –	6,000	6,000
29^th	–	[Being the value of sales made for cash vide receipt no:___ dated:__]		– –	6,000	6,000
30^th	–	Bank a/c To Commision Received a/c	Dr	– –	5,000	5,000
30^th	–	[Being the amount of commission received by cheque vide voucher no:___ dated:__]		– –	5,000	5,000

General Ledger
[Books of Mrs. Roy]

Cash a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
10/11/_5 29/11/_5	To Capital a/c To Sales a/c	– –	60,000 6,000	12/11/_5 14/11/_5 27/11/_5 30/11/_5	By Purchases a/c By Bank a/c By Electrical Bill a/c By Balance c/d	– – – –	15,000 16,000 100 34,900
	tl		66,000		tl		66,000
01/12/_5	To Balance b/d	–	34,900

Capital a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
30/11/_5	To Balance c/d	–	60,000	10/11/_5	By Cash a/c	–	60,000
	tl		60,000		tl		60,000
				01/12/_5	By Balance b/d	–	60,000

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

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

Purchases a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
12/11/_5 13/11/_5	To Cash a/c To B.Sen & Co a/c	– –	15,000 30,000	30/11/_5	By Balance c/d	–	45,000
	tl		45,000		tl		45,000
01/12/_5	To Balance b/d	–	45,000

B.Sen & Co a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
30/11/_5	To Balance c/d	–	30,000	13/11/_5	By Purchases a/c	–	30,000
	tl		30,000		tl		30,000
				01/12/_5	By Balance b/d	–	30,000

Bank a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
14/11/_5 16/11/_5 26/11/_5 30/11/_5	To Cash a/c To Sales a/c To Zahir Khan a/c To Commision Received a/c	– – – –	16,000 15,000 5,000 5,000	19/11/_5 21/11/_5 22/11/_5 23/11/_5 24/11/_5 30/11/_5	By Machinery a/c By B. Sen & Co a/c By Drawings a/c By Interest a/c By Office Expenses a/c By Balance c/d	– – – – – –	6,000 5,000 3,000 2,000 10,000 15,000
	tl		41,000		tl		41,000
01/12/_5	To Balance b/d	–	15,000

Sales a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
30/11/_5	To Balance c/d	–	31,000	16/11/_5 18/11/_5 29/11/_5	By Bank a/c By Zahir Khan a/c By Cash a/c	– – –	15,000 10,000 6,000
	tl		31,000		tl		31,000
				01/12/_5	By Balance b/d	–	31,000

Stationery a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
17/11/_5	To Bharat Stationery Mart a/c	–	1,000	30/11/_5	By Balance c/d	–	1,000
	tl		1,000		tl		1,000
01/12/_5	To Balance b/d	–	1,000

Bharat Stationery Mart a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
30/11/_5	To Balance c/d	–	1,000	17/11/_5	By Stationery a/c	–	1,000
	tl		1,000		tl		1,000
				01/12/_5	By Balance b/d	–	1,000

Zahir Khan a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
18/11/_5	To Sales a/c	–	10,000	20/11/_5 26/11/_5 30/11/_5	By Sales Returns a/c By Bank a/c By Balance c/d	– – –	2,000 5,000 3,000
	tl		10,000		tl		10,000
01/12/_5	To Balance b/d	–	3,000

Machinery a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
19/11/_5	To Bank 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

Sales Returns a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
20/11/_5	To Zahir Khan a/c	–	2,000	30/11/_5	By Balance c/d	–	2,000
	tl		2,000		tl		2,000
01/12/_5	To Balance b/d	–	2,000

B. Sen & Co a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
21/11/_5	To Bank a/c	–	5,000	30/11/_5	By Balance c/d	–	5,000
	tl		5,000		tl		5,000
01/12/_5	To Balance b/d	–	5,000

Drawings a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
22/11/_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

Interest a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
23/11/_5	To Bank a/c	–	2,000	30/11/_5	By Balance c/d	–	2,000
	tl		2,000		tl		2,000
01/12/_5	To Balance b/d	–	2,000

Office Expenses a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
24/11/_5	To Bank a/c	–	10,000	30/11/_5	By Balance c/d	–	10,000
	tl		10,000		tl		10,000
01/12/_5	To Balance b/d	–	10,000

Electrical Bill a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
27/11/_5	To Cash a/c	–	100	30/11/_5	By Balance c/d	–	100
	tl		100		tl		100
01/12/_5	To Balance b/d	–	100

Commision Received a/c
Dr Cr
Date	Particulars	J/F	Amount	Date	Particulars	J/F	Amount
30/11/_5	To Balance c/d	–	5,000	30/11/_5	By Bank a/c	–	5,000
	tl		5,000		tl		5,000
				01/12/_5	By Balance b/d	–	5,000

Trial Balance
[Modern Method]

Trial Balance of Mrs. Roy as on 30/11/_5
Particulars	L/F	Amount (Dr)	Amount (Cr)
Cash a/c Capital a/c Furniture a/c Modern Furniture a/c Purchases a/c B.Sen & Co a/c Bank a/c Sales a/c Stationery a/c Bharat Stationery Mart a/c Zahir Khan a/c Machinery a/c Sales Returns a/c B. Sen & Co a/c Drawings a/c Interest a/c Office Expenses a/c Electrical Bill a/c Commision Received a/c	– – – – – – – – – – – – – – – – – – –	34,900 – 10,000 – 45,000 – 15,000 – 1,000 – 3,000 6,000 2,000 5,000 3,000 2,000 10,000 100 –	– 60,000 – 10,000 – 30,000 – 31,000 – 1,000 – – – – – – – – 5,000
Total		1,37,000	1,37,000

Trial Balance - Problems and Solutions

Problem - 1

Solution

General Ledger
[Books of Mr. Neel]

Trial Balance
[Modern Method]

Problem - 2

Solution

General Ledger
[Books of Mrs. Roy]

Trial Balance
[Modern Method]

Trial Balance - Problems and Solutions

Problem - 1

Solution

General Ledger [Books of Mr. Neel]

Trial Balance [Modern Method]

Problem - 2

Solution

General Ledger [Books of Mrs. Roy]

Trial Balance [Modern Method]

General Ledger
[Books of Mr. Neel]

Trial Balance
[Modern Method]

General Ledger
[Books of Mrs. Roy]

Trial Balance
[Modern Method]