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Vacation Homework WS

The document contains a series of accounting exercises requiring the preparation of accounts for various individuals (Payal, Palak, Changu, Mahi, Rasid, and Bala) in relation to transactions that occurred in specified months. Each exercise outlines initial debts, purchases, returns, and payments, which need to be recorded in a structured account format. The goal is to calculate the final balances and present them in the respective ledgers.

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11 views3 pages

Vacation Homework WS

The document contains a series of accounting exercises requiring the preparation of accounts for various individuals (Payal, Palak, Changu, Mahi, Rasid, and Bala) in relation to transactions that occurred in specified months. Each exercise outlines initial debts, purchases, returns, and payments, which need to be recorded in a structured account format. The goal is to calculate the final balances and present them in the respective ledgers.

Uploaded by

vihana0605
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 PDF, TXT or read online on Scribd
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VACATION HOMEWORK WORKSHEET

Q.1. From the following information, write up the account of Payal in the books of Amish for
the month of July 2022.
June 1 Payal owed Amish $4920.
6 Payal purchased goods, $16400, on credit from Amish.
10 Payal returned goods, $2500, to Amish.
14 Payal paid $1900 to Amish in cash.
20 Payal purchased goods, $7780, on credit from Amish.
26 Payal paid $8000 by cheque to Amish.

Payal a/c

Date Details $ Date Details $

Q.2 From the following information, write up the account of Palak in the books of Mayank
for themonth of July 20-1.

June 1 Mayank owed Palak $2500.


6 Mayank purchased goods, $3100, on credit from
Palak.
10 Mayank returned goods, $600, to Palak.
14 Mayank paid $3750 to Palak in cash.
20 Mayank purchased goods, $1795, on credit from
Palak.
26 Mayank paid $1000 by cheque to Palak.

Palak a/c

Date Details $ Date Details $


Q.3 From the following information, write up the account of Changu in the books of Kunal
for themonth of July 20-1.

June 1 Kunal owed Changu $9000.


6 Changu sold goods, $13000, on credit to Kunal.
10 Kunal returned goods, $7000, to Changu.
14 Changu received $2500 from Kunal in cash.
20 Changu sold goods, $780, on credit to Kunal.
26 Changu received $2000 by cheque from Kunal.

Changu a/c

Date Details $ Date Details $

Q.4 From the following information, write up the account of Mahi in the books of Waheed
for themonth of July 20-1.

June 1 Waheed owed Mahi $4500.


6 Waheed purchased goods, $12000, on credit from
Mahi.
10 Waheed returned goods, $500, to Mahi.
14 Waheed paid $2500 to Mahi in cash.
20 Waheed purchased goods, $5900, on credit from
Mahi.
26 Waheed paid $10000 by cheque to Mahi.

Mahi a/c

Date Details $ Date Details $


Q.5 Rasid is a trader in the books of Geeta.
On 1 April 2010 the balance on the account of Rasid was $1000 Debit.

The following transactions related to the account of Rasid for the month of April 2010.

April 6 Sold goods to Rasid, list price $3500; allowed 20% trade discount.
12 Rasid returned goods bought on 6 April, list price $300.
18 Sold goods to Rasid, list price $2000; allowed 15% trade discount.
30 Rasid paid the balance on his account on 1 April by cheque and was allowed 3%
cash discount

Prepare Rasid 's a/c and bring down the balance on 1 May 2010.

Rasid a/c

Date Details $ Date Details $

Q.6 In January 2016 the following Transaction took place between Bala and Maher.

January 1 Bala owed Maher $ 3600


6 Bala bought goods, list price $1000 after taking a trade discount 10%.
8 Bala paid by cheque the amount owing on 1 january 2016 after deducting 3% cash
discount
10 Bala returned goods, list price $200, bought on 6 january

Prepare Bala account In Maher ledger for the month of January 2016. Balance the account and bring
down the balances on February 2016.

Maher
Bala account
Date Details $ Date Details $

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