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Accounts

The document outlines various accounting transactions for multiple businesses, including M/S.Amarpali, Rohan, Shri Bharat Ram, and Mr. Maharanjan. It details the opening journal entries and specific transactions such as sales, purchases, and payments, including discounts applied. Additionally, it requests the preparation of ledgers based on the provided transactions.

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Kumar Gautam
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42 views1 page

Accounts

The document outlines various accounting transactions for multiple businesses, including M/S.Amarpali, Rohan, Shri Bharat Ram, and Mr. Maharanjan. It details the opening journal entries and specific transactions such as sales, purchases, and payments, including discounts applied. Additionally, it requests the preparation of ledgers based on the provided transactions.

Uploaded by

Kumar Gautam
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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1. From the following transaction of M/S.

Amarpali, pass opening journal entry on January


1, 2015:
Cash Rs 650; Sundry Debtors Rs 12,350; Building Rs.2500; Stock Rs 5,750; Furniture
Rs.500 ; Creditors Rs 12,100; Bills payable Rs 1,650.

The following balances appeared in the books of


Rohan as on 1st January 2004 – Cash Rs. 7,000, Bank Rs.70,000, Stock Rs.80,000, Furniture
Rs.10,000, Computer Rs.50,000, Debtors Rs.33,000 and Creditors Rs.90,000.

2. Pass journal entries in the journal of Shri Bharat Ram:

a. Sold to Mahesh for cash goods worth Rs.5, 000 less 10% trade discount and 5%
cash discount.
b. Purchased from Rajani Bhai goods at a list price of Rs.12, 000 at 10% trade
discount and 2% cash discount. Cash was paid upto 50% of the amount.
c. Sold to Arvind at a trade discount of 5% and cash discount of 1% goods of the list
price of Rs.20, 000.He paid 60% in cash.
d. Purchased goods from Sandeep of Rs 40,000 at terms 10% trade discount and 5%
cash discount. Paid amount at the time of purchase itself.

Journalise the following transaction in the books of Mr.Maharanjan and post them to the ledger:
Rs.
Jan 1. Maharajan commenced business with cash 1, 00,000
Jan 2. Purchased goods for cash 70,000
Jan 3. Purchased goods on credit 80,000
Jan 4. Purchased furniture for cash 3,000
Jan 5. Paid rent 2,000
Jan 6. Sold goods for cash costing Rs.45, 000 60,000
Jan 7. Paid to creditors 20,000
Jan 8. Withdrew cash for private use 10,000
Jan 9. Paid salaries 5,000
Jan 10. Sold goods on credit (cost price Rs.60, 000) 80,000

Prepare any four ledger of the above transaction.

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