The Following Would Be Recording In Journal Using Double Entry System. Do The Posting Process From Journal Entries And Prepare The Trial Balance, Trading A/C, Profit & Loss A/C And Balance Sheet In The Books Of M/S. U.V.S & CO For The Following Year 2007 To 2008
| Particular |
Dr |
Cr |
| ICICI Bank |
200000 |
|
| Machine |
400000 |
|
| Land & Building |
250000 |
|
| Cash |
50000 |
|
| Investment |
25000 |
|
| Furniture |
25000 |
|
| Free-Hold property |
150000 |
|
| Capital |
|
400000 |
| Reserves & surplus |
|
50000 |
| Bank O/D |
|
60000 |
| Unpaid Exp |
|
300000 |
| Salary Due |
|
50000 |
| Bank Loan |
|
40000 |
| General Reserve |
|
200000 |
Sundry Debtors:
- M/S.Jana To Pay Him Bill No:26 Rs.10000
- M/S.Dina To Pay Him Bill No:27 Rs.5000
- M/S.Vine To Pay For Him Bill no:32 Rs.5000
Sundry Creditors:
- M/S.Babu Traders For The Bill No:28 Rs.4000
- M/S.Vijay Traders For The Bill No:32 Rs.6000
- M/S.Sangee Traders For The Bill No:12 Rs.10000
TRANSACTION DURING THE PERIOD:
- 1. Paid For Electrical Charges Rs.20000
- 2. Paid Telephone Charges Rs.40000
- 3. Sold Goods To M/S.Jana Was Rs.16000 Bill no:25 (30days)
- 4. Received Cheque From M/S.Jana Rs.10000
- 5. Paid Salary Rs.30000
- 6. Received Commission Rs.30000
- 7. Withdraw From Personal Use Rs.1800
- 8. Salary Due Rs.1500
- 9. Dividend Received Rs.100000
- 10. Goods To M/S.Vine Bill No:28 Rs.8000
- 11. Sold Goods To M/S.Pavi Bill No:32 Rs.10000
- 12. Cash Purchase Tow Night Lamp Rs.3000
- 13. Paid Trade expense Rs.200
- 14. Withdraw From Bank Rs.2000
- 15. Sold Goods To Cash Rs.4000
- 16. Purchase Goods From Cash Rs.250
- 17. Paid Water Tax Charges Rs.450
- 18. Dividend Received Rs.50000
- 19. Paid Cash To Bank Rs.500
- 20. Paid For Postage & Telegram Rs.1500
- 21. Received Interest Rs.20000
- 22. Purchase Goods Form Babu Rs.8000
- 23. Paid Wages By Cheque Rs.2500
- 24. Cash Withdraw From Bank Rs.10000
Answers:
| opening balance |
11,20,000 |
| Gross profit |
27,250 |
| Net profit |
1,33,600 |
| Balance sheet |
12,61,300 |