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    Ledger Home Work Problem Solution

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    Shruthi P
    The document provides transactions between Sham and Ram and instructs to prepare their accounts in each other's ledgers. 1) In Sham's ledger, the Rams Account shows debits for goods/cash received from Ram and credits for goods returned and payments made to Ram. 2) In Ram's ledger, the Sham Account shows debits for goods/cash provided to Sham and credits for goods returned and payments received from Sham. 3) Both accounts are balanced with opening/closing balances to show the net position at the end.

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    Ledger Home Work Problem Solution

    Uploaded by

    Shruthi P
    8 views1 page
    The document provides transactions between Sham and Ram and instructs to prepare their accounts in each other's ledgers. 1) In Sham's ledger, the Rams Account shows debits for goods/cash received from Ram and credits for goods returned and payments made to Ram. 2) In Ram's ledger, the Sham Account shows debits for goods/cash provided to Sham and credits for goods returned and payments received from Sham. 3) Both accounts are balanced with opening/closing balances to show the net position at the end.

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    Ledger Home work Problem solution

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    The document provides transactions between Sham and Ram and instructs to prepare their accounts in each other's ledgers. 1) In Sham's ledger, the Rams Account shows debits for goods/cash received from Ram and credits for goods returned and payments made to Ram. 2) In Ram's ledger, the Sham Account shows debits for goods/cash provided to Sham and credits for goods returned and payments received from Sham. 3) Both accounts are balanced with opening/closing balances to show the net position at the end.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    8 views1 page

    Ledger Home Work Problem Solution

    Uploaded by

    Shruthi P
    The document provides transactions between Sham and Ram and instructs to prepare their accounts in each other's ledgers. 1) In Sham's ledger, the Rams Account shows debits for goods/cash received from Ram and credits for goods returned and payments made to Ram. 2) In Ram's ledger, the Sham Account shows debits for goods/cash provided to Sham and credits for goods returned and payments received from Sham. 3) Both accounts are balanced with opening/closing balances to show the net position at the end.

    Copyright:

    © All Rights Reserved
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    of 1

    Problem:

    Prepare Rams Account in the ledger for Sham and Shams Account in ledger of Ram from the following
    transaction

    Date Particulars
    1 Opening balance of Sham to Ram Rs 3500
    3 Ram sold goods to Sham Rs 6000
    6 Sham returned goods to ram Rs 500
    11 Ram received cash from sham Rs 5300 in full
    settlement of Rs 5500
    15 Sham sold goods to Ram Rs 2500
    13 Sham paid cash to Ram Rs 1500
    25 Ram returned goods to Sham Rs 150
    30 Ram received cash from Sham Rs 2000

    In the Ledger of Sham

    Rams Account

    Date Particular JF Amount Date Particular JF Amount


    (Dr) (Cr)
    6th To Purchase 500 1st By Opening Bal 3500
    return
    11 To cash Account 5300 3rd By Purchases 6000
    11 To discount 200 25th By sales Return Account 150
    Account
    15th To sales account 2500 31st By Bal c/d 2350
    18th To cash account 1500
    30th To Cash Account 2000
    12000 12000
    st
    1 To balance b/d 2350

    In the Ledger of Ram

    Sham Account

    Date Particular JF Amount Date Particular JF Amount


    (Dr) (Cr)
    1st To opening bal 3500 6th By sales Return Account 500
    3rd To sales account 6000 11th By Cash account 5300
    25th To purchase 150 11th By Discount Account 200
    return Account
    31st To Bal c/d 2350 15th By purchases account 2500
    18th By Cash Account 1500
    30th By Cash Account 2000
    12000 12000
    st
    1 By Bal b/d 2350

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