Page 8 - Lesson Note
P. 8
the orders in advance. Mr. Deepak’s transactions for the year ending on 31st March
2013 were as follows.
Rs.
Purchases (on 15 June 12) 15,00,000
Sales 25,00,000
Staff Salary 2,00,000
Telephone Expenses 50,000
Electricity charges 1,00,000
Packing charges 25,000
Insurance 1,00,000
Rent (Rs. 10,000 p.m.) 1,20,000
Carriage Inward. 55,000
Furniture purchased (on 1st June 12) 1,00,000
25% payment for furniture was made by cash and rest by cheque. All the expenses
were paid by cheque. Furniture and computer were depreciated @12% p.a. The
closing stock on 31st Mar. 2013 was valued at Rs. 1,00,000. A plot/ land for Rs.
10,00,000 was also purchased on that day to construct shop in future. You are
required to:
(1) Journalise the transactions.
(2) Post all the items to the relevant Ledger Accounts
(3) Prepare Trial Balance.
(4) Prepare Trading and Profit & Loss A/c and Balance sheet at the end of the
year.
Journal
Date Particulars L.F. Dr. (Rs.) Cr. (Rs.)
Cash A/c Dr.
2012 To Capital A/c
Apr 1 2,00,000 2,00,000
(Being business commenced)
Apr 5 Bank A/c Dr. 5,000 5,000
