Page 104 - Account 10

Illustration - 1
Prepare journal vouchers from the following transactions, post them into the ledger
and prepare the trial balance to check their accuracy of ABC Co., Chitwan.

075, Baishakh:
1, Commenced business with Cash Rs. 20,000.
2, Deposited into bank Rs. 15,000.
3, Bought goods for cash Rs. 1,000.
4, Furniture purchased from ABC Furnitures Rs. 1,500.
6, Purchased goods from Kailash & Co. Rs. 2,000.
8, Goods sold for cash Rs. 1700.
Solution:
Journal Entries of ABC Co., Chitwan

Date Particulars L.F. Dr. Amount Cr. Amount
075-1-1 Cash A/c .............. Dr. 20,000
To Capital A/c 20,000
(Being business commenced)
075-1-2 Bank A/c .................. Dr. 15,000
To Cash A/c 15,000
(Being deposited into bank)
075-1-3 Purchase A/c .................. Dr. 1,000
To Cash A/c 1,000
(Being goods purchased)
075-1-4 Furniture A/c .................. Dr. 1,500
To ABC Furniture’s A/c 1,500
(Being furniture purchased on credit)
075-1-6 Purchase A/c .................. Dr. 2,000
To Kailash & Co’s A/c 2,000
(Being purchased on credit)
075-1-8 Cash A/c .................. Dr. 17,00
To Sales A/c 1,700
(Being goods sold in cash)
Total Rs. 41,200 41,200
Preparation of Ledgers:

Dr. Cash A/c Cr.
Date Particulars J.F Amount Date Particulars J.F. Amount
075-1-1 To Capital A/c 20,000 075-1-2 By Bank A/c 15,000
075-1-8 To Sales A/c 1,700 075-1-3 By Purchase A/c 1,000
075-1-31 By Balance c/d 5,700
21,700 21,700
2-1 To Balance b/d 5,700

104 Aakar’s Office Practice and Accountancy - 10 Trial Balance 105