ACCOUNTANCY ASSIGNMENT

CHAPTER : 8
JOURNAL AND LEDGER

Q1. Journalise the following transactions in the books of Mr. Ankur who started Trading Business on 1st April 2015

1. Mr. Ankur started business with Cash Rs.10,00,000

2. Mr. Ankur started business with Cash Rs.1,00,000 ; Stock Rs.2,00,000 and Furniture Rs.3,00,000
3. Mr. Ankur withdrew Cash Rs.50,000 for personal use.
4. Mr. Ankur withdrew Goods worth Rs.50,000 for personal use.
5. Mr. Ankur Sold household goods for Rs.10,00,000 and brought that money into the Business.
6. Paid Interest on Capital Rs.80,000.
7. Provide Interest on Capital Rs.80,000.
8. Received Interest on Drawings Rs.5,000.
9. Charge Interest on Drawings Rs.5,000.
10. Deposited into Current Bank a/c of Mr. Ankur Rs.10,000.
11. Deposited in Saving Bank a/c of Mr. Ankur Rs.10,000.
12. Withdrew Cash from Bank Rs.10,000 for office use.
13. Mr. Ankur Withdrew Cash from Bank Rs.10,000 for personal use.
14. Received Cheque from Deepika of Rs.10,000 and deposited into bank on the same day.
15. Received Cheque for Sonam of Rs.20,000 and not deposited into bank on the same day.
16. Deepika’s Cheque of Rs.10,000 was returned dishonor.
17. Sonam’s Cheque of Rs.20,000 deposited into Bank.
18. Sonam’s Cheque of Rs.20,000 was endorsed in the favour of Kareena.
19. Paid to Karishma through Cheque Rs.15,000.
20. Placed on fixed deposit a/c at bank by transfer from current a/c Rs.50,000.
21. Purchased goods for Cash Rs.50,000.
22. Purchased goods from Katrina on credit for Rs.50,000.
23. Purchased goods from Diya for Cash for Rs.50,000.
24. Purchased goods costing Rs.45,000 for Rs.50,000.
25. Purchased goods from Sonali for Rs.50,000 received Trade discount @10%.
26. Purchased goods for Rs.50,000, received Trade Discount @10% and Cash Discount @5%.
27. Purchased goods from Sri Devi for Rs.50,000, received Trade Discount @10% and Cash Discount @5%. Paid 40% of
amount due by Cheque.
28. Received a V.P.P for goods of Rs.50,000.
29. Sold goods for Cash Rs.80,000.
30. Sold goods to Nargis for Rs.80,000.
31. Sold goods costing Rs.50,000 for Rs.80,000.
32. Sold goods to Celina for Cash for Rs.80,000.
33. Sold goods for Rs.80,000 to Kangana and allowed her a Trade Discount @10%.
34. Sold goods to Aishwariya for Rs.80,000 and allowed her Trade Discount @10% and Cash Discount@5%.
35. Sold goods to Anushka for Rs.80,000 and allowed her Trade Discount @10% and Cash Discount @5%. Anushka paid only
half amount in Cash.
36. Sold goods to Kajol for Rs.80,000, issued invoice 10% above list price and allowed Trade Discount @5%.
37. Sold goods costing Rs.80,000 to Salman at a profit of 20% on sales less 25% Trade Discount and charged 8% sales tax and
paid carriage Rs.1,000 ( not to be charged from customer).
38. Sold goods costing Rs.1,00,000 to Aamir at a profit of 25% on cost less 20% Trade Discount and charged 8% sales tax and
paid carriage Rs.1,000 ( to be charged from customer).

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 39. Received Rs.8,000 as an advance for goods to be sold to Madhuri.
40. Returned goods to Katrina worth Rs.5,000 being defective.
41. Nargis Returned goods worth Rs.5,000.
42. Purchased goods from Akshay for Rs50,000 and sold them to Varun for Rs.80,000. Varun return 10% of those goods which
in turn returned to Akshay.
43. Purchased goods from Sharukh for Rs.50,000 less 20% Trade Discount plus GST @ 10%.
44. Sold above goods to Ranbir for Rs.80,000 and charged GST @ 10%.
45. VAT was deposited into government account on the due date.
46. Purchased Furniture through Cheque Rs.25,000.
47. Purchased Machinery from Tendulkar for Rs.40,000.
48. Purchased Motor Van costing Rs.2,00,000 for Rs.3,00,000.
49. Puchased Machinery for Rs.5,00,000; paid carriage/freight Rs.50,000; paid insurance charges Rs.25,000; paid installation
charges Rs.25,000.
50. Charge Depreciation on above Machinery @10% p.a for nine months.
51. Charge Depreciation on above Machinery @20% for Six months.
52. An Old Car with a Book value of Rs.1,00,000 is exchanged for a New Car of Rs.5,00,000. The Old Car is valued at
Rs.50,000 for the exchange Purpose by Hans Hyundai Ltd.
53. Sold Land for Cash Rs.25,00,000.
54. Sold Horse to Ganguly for Rs.7,00,000 against Bill of Exchange.
55. Sold Building costing Rs.75,00,000 for Rs.1,00,00,000.
56. Sold Carcass of Horse for Rs.25,000. ( Purchased for Rs.3,00,000).
57. Paid Rs.4,000 to Bipasha on account for Rs.5,000.
58. Paid Rs.4,000 to Jacqline in full settlement of her account for Rs.5,000.
59. Received Rs.8,000 from Aalia on account for Rs.10,000.
60. Received Rs.8,000 from Sonakshi in full settlement of her account for Rs.10,000.
61. Paid Wages Rs.7,000 to factory workers.
62. Paid Bank Charges Rs.500.
63. Paid Wages Rs.7,000; Salary Rs.14,000; Rent Rs.21,000 on same day.
64. Wages Due to peon Rs.7,000.
65. Paid Outstanding Wages of Rs.7,000 to factory workers.
66. Paid Rent in advance Rs.21,000 to Landlord.
67. Paid Security Deposit to the landlord
68. Paid for refreshment of customer Rs.500
69. Paid Rs.5,000 to ICICI Bank as installment, Rs.3,000 towards principal and Rs.2,000 as interest.
70. Received Dividend on shares Rs.12,000 through ECS.
71. Received interest on Loan from a Debtor of Rs.3,000.
72. Interest allowed by Bank Rs.2,000.
73. Received Commission Rs.10,000 from customer in advance.
74. Accrued interest Rs.5,000 from Bank.
75. Sold old newspaper for Cash Rs.200.
76. Goods destroyed by fire worth Rs.9,000.
77. Goods stolen worth Rs.9,000. (Selling price Rs.10,000)
78. Goods given in charity worth Rs.9.000.
79. Goods distributed as free samples worth Rs.9,000. (Selling price Rs.10,000)
80. Goods used in making Furniture Rs.9,000.
81. Cash Rs.10,000 embazzled by cashier.
82. Goods destroyed by fire worth Rs.9,000. Insurance company admitted claim of Rs.6,000.
83. Paid income tax of proprietor Rs.20,000.
84. Paid Life insurance premium of Proprietor Rs.20,000.

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 85. Paid fire insurance premium of Factory Building Rs.20,000.
86. Paid for Petrol Expenses of Proprietor personal car Rs.20,000.
87. Purchased a Motor Bike on the occasion of Birthday of Proprietor’s son of Rs.85,000 as a gift.
88. Paid Rent Rs.20,000. Half of which is paid in advance.
89. Out of Rent Paid this year, Rs.6000 paid is related to next year.
90. Paid Rent Rs.40,000 of a Building, Half of which is used by proprietor for his residential purpose.
91. Received Commission Rs.20,000. Half of which is receceived in advance.
92. Out of Commission Received Rs.20,000 1/4th related to next year.
93. Mr. Bill Gates who owed Rs.1,000 to our firm was declared insolvent. A first and final Dividend of 60paise in a Rupee is
recovered from his official receiver in full and final settlement of claim.
94. Rs.500 due from Mr. Mukesh Ambani is a Baddebt.
95. Received Rs.200 from Mr. Bill Gates who was declared insolvent last year.
96. Stock in hand at the end of the year Rs.20,000.
97. On 1 April 2016 Mr. Ankur has the following Balances
Assets: Cash Rs20,000 Bank Rs.30,000 Stock Rs.40,000 Furniture Rs.50,000 Due from Katrina Rs.10,000
Liabilites: Bills Payable Rs.10,000 Bank Loan Rs.20,000 Due to Deepika Rs.20,000.

Q2. Journalise the following transactions in the books of Mr. Ankur, post them into the Ledger and prepare a Trial Balance.
April 1 Cash in Hand Rs.50,000
Furniture Rs.20,000
Machinery Rs.30,000
Luxman(Dr.) Rs.5,000
Bank Overdraft Rs.20,000
Sita(Cr.) Rs.15,000
April 2 Purchased goods from Ram for Rs.20,000 at a discount of 10%.
April 3 Sold goods costing Rs.10,000 at profit of 33 1/3% of sales to Ravan.
April 4 Paid Cash to Ram Rs.9600. Discount allowed by him Rs.400.
April 5 Received cash from Ravan Rs.4,500. Discount allowed to him Rs.500.
April 6 Paid Salary to Kumbhkaran Rs.5,000.
April 7 Received Rent from Hanuman Rs.8,000.
April 8 Deposited Rs.15,000 into Bank.
April 9 Paid Life insurance premium of proprietor Rs.2,000 through cheque.
April 10 Sold goods to Luxman for Rs.7,000 through cheque.

ANKUR SHARMA ACCOUNTANCY CLASSES: PH:9891117766,9810585966

XI, XII, B.COM, BBA, MBA, CA-CPT, CS, CMA.
FINANCIAL AND CORPORATE ACCOUNTING, COSTING, INCOME TAX, FINANCIAL MGT, TAX PLANNING etc