Scribd Logo
Upload

Welcome to Scribd!

  • 6 views

    Assignment 1

    Uploaded by

    Aakash

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Assignment 1

    Uploaded by

    Aakash
    6 views3 pages

    Original Title

    ASSIGNMENT 1

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    6 views3 pages

    Assignment 1

    Uploaded by

    Aakash

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    You are on page 1of 3

    ACCOUNTING FOR MANAGERS

    JOURNAL ENTRIES

    PASS JOURNAL ENTRIES FOR THE FOLLOWING


    TRANSACTIONS

    1. Mr Satya started business with Rs 2,00,000 in cash


    2. Bought office furniture for cash Rs 20,000
    3. Bought Machinery on credit from Globe traders Rs 60,000
    4. Purchased goods from Mr Srikanth for cash Rs 80,000
    5. Purchased goods from Aman traders on credit Rs 1,00,000
    6. Sold goods for cash Rs 1,00,000
    7. Sold goods to Mr Bimal Rs 1,30,000
    8. Paid an amount of Rs 50,000 to Aman traders
    9. Received interest on investment Rs 8,000
    10. Received an amount of Rs 80,000 from Mr Bimal
    11. Paid general expenses Rs 5,000
    12. Paid an insurance premium of Rs 1200 by cheque
    13. Withdrew cash for personal use Rs 10,000
    14. Introduced an additional capital of Rs 1,24,000
    15. Goods purchased from Mr Pavan Rs 75,000
    16. Rent paid Rs 3,000
    17. Salary paid Rs 15,000
    18. Goods sold to Mr Kumar Rs 38,000
    19. Returned goods worth 10,000 and Paid Rs 38,000 to Aman
    traders in full and final settlement
    20. Goods worth 12,000 was returned and received an amount of
    Rs 36,000 from Mr Bimal in full and final settlement
    21. Received an amount of Rs 37,200 from Mr Kumar in full
    22. Issued a cheque to Mr Pavan for Rs 72,800 in full settlement
    23. Paid for office stationery Rs 800
    24. Purchased a computer and paid by cheque Rs 40,000
    25. Income tax paid Rs 9,000
    26. Purchased Land & Buildings Rs 80,000
    27. Wages paid Rs 6,000
    28. LIC premium paid by cheque Rs 3,000
    29. Cash paid into bank Rs 4,000
    30. Borrowed a loan of Rs 80,000 from Bank of India
    31. Investment in shares of XYZ ltd Rs 50,000
    32. Commission received Rs 6,000

    JOURNAL ENTRIES IN THE BOOKS OF MR SATYA

    DATE PARTICULARS L/F DEBIT CREDIT


    1/4/21 CASH A/C DR 2,00,000
    TO CAPITAL A/C 2,00,000
    [ BEING CAPITAL
    INTRODUCED IN CASH]

    19/4/21 AMAN TRADERS A/C DR 10,000


    TO PURCHASE RETURNS A/C 10,000

    AMAN TRADERS A/C DR 40,000


    TO BANK A/C 38,000
    TO DISCOUNT RECEIVED 2,000
    A/C

    20/4/21 SALES RETURNS A/C DR 12,000


    TO BIMAL A/C 12,000

    BANK A/C DR 36,000


    DISCOUNT ALLOWED A/C DR 2,000
    TO BIMAL A/C 38,000

    21/4/21 BANK A/C DR 37,200


    DISCOUNT ALLOWED A/C DR 800
    TO KUMAR A/C 38,000

    22/4/21 PAVAN A/C DR 75,000


    TO BANK A/C 72,800
    TO DISCOUNT RECEIVED 2,200
    A/C

    30/4/21 BANK OF INDIA A/C DR 80,000


    TO BOI LOAN A/C 80,000

    You might also like