PROJECT IN ACCOUNTANCY-2021-22

JOURNAL,LEDGER ,SUBSIDIARY BOOKS AND TRAIL BALANCE

CLASS-11-COMMERCE MARKS :20MARKS
PROBLEMS:
On 1st March, 2020 Mr. Mohit started a Furniture business in GANDHI NAGAR Mr. Mohit
invested Rs 50,00,000.
March 2 Cash deposited into the bank Rs. 30,00,000.
March 3 Goods purchased (3,000 Chairs) for cash Rs 8,00,000 at 25% trade discount .
March  4 Machinery Purchased for cash Rs.5,50,000 and installation expenses paid Rs. 50,000.
March 5 Computer Purchased paid by cheque Rs. 50,000.
March 6 Goods sold (2,000 Chairs) for Cash Rs. 7,00,000.
March 7 Carriage paid Rs. 18,000.
March 10 Goods purchased (1,000 Tables) from Dinesh & company Rs. 12,50,000 at 20% trade
discount .
March 12 Goods Sold( 500 Tables to Mohit & Brother Rs.20,00,000 at 40% trade discount .
March 13 Investment purchased by cheque Rs. 2,00,000.
March 15 amount paid to Dinesh & company by cheques Rs. 4,00,000.
March 16 Furniture Purchased for office use  paid by cheque Rs. 1,50,000.
March 17 Cash withdrawn for personal use Rs. 40,000.
March 18 Cheques received from Mohit and brother Rs 8,00,000 and deposited into Bank 
same day.
March 19 Goods purchased ( 1000 Tables) from Dinesh & company Rs. 10,00,000 at 20% trade
discount .
March 20 Goods sold for Cash Rs. 5,00,000.
March  21 Goods Sold ( 500 Chairs and 500 tables)  to Mohit & Brother Rs.10,00,000 at 20%
trade discount .
March 22 Cash withdrawn from bank for office use Rs. 1,00,000.
March 23 Advertisement Expenses paid by cheque  Rs. 1,20,000.

March 24 Insurance premium paid Rs. 20,000 by cheque.

March 25 Cash received from Mohit & brother Rs 2,00,000.
March 26 Cash paid to Dinesh & company Rs. 1,50,000.
March 27 Commission Received Rs. 20,000.
March 28 wages paid  Rs.15,000.
March 29 Cash withdrawn for personal use Rs. 40,000.
March 30 Salary  Rs 25,000, Rent Rs. 16,000 paid by cheque.
March 31 Depreciation charge on machinery Rs. 5,000.
March 31 Depreciation charge on Computer  Rs. 2,500.
March 31 Bank charges charged by bank  Rs. 5,000.
March 31. Interest received on investment Rs. 4,000.
2. Mr. Ramu has the following transactions in the month of July.

Record them into the journal and show postings in the ledger and balance the accounts.

July 1st : Ramu started business with a capital of 75,000

1st : Purchased goods from Manu on credit 25,000
2nd : Sold goods to Sonu 20,000
3rd : Purchased goods from Meenu 15,000
4th : Sold goods to Tanu for cash 16,000
5th : Goods retuned to Manu 2,000
6th : Bought furniture for 15,000
7th : Bought goods from Zenu 12,000
8th : Cash paid to Manu 10,000
9th : Sold goods to Jane 13,500
10th : Goods returned from Sonu 3,000
11th : Cash received from Jane 5,500
12th : Goods taken by Ramu for domestic use 3,000
13th : Returned Goods to Zenu 1,000
14th : Cash received from Sonu 12,000
15th : Bought machinery for 18,000
16th : Sold part of the furniture for 1,000
17th : Cash paid for the purchase of bicycle for Ramu's son 1,500
19th : Cash sales 15,000
20th : Cash purchases 13,500

3.Prepare Trial Balance for the following Balances as on 31st March 2021

Balances ₹

Cost of Goods Sold 5,20,000

Opening Stock 50,000

Closing Stock 50,000

 Salary and Wages 50,000

Sales 8,00,000

Plant & Machinery 2,00,000

Drawing 50,000

Investment 4,00,000

Creditors 1,00,000

Capital 4,00,000

4.The following balances were extracted from the ledger of Mr.Sachin as on 31st March
2021. You are required to prepare a trial balance as on that date.
₹
Balances

Drawings  60,000

Salaries  95,000

Capital  2,40,000

Sales return  10,000

Sundry creditors  4,30,000

Purchases return   11,000

Bills payable  40,000

Commission paid  1,000

Sundry debtors   5,00,000

Trading expenses  25,000

Bills receivable  52,000

Discount earned  5,000

Plant & Machinery  45,000

Rent  20,000

Opening stock  3,70,000

Bank overdraft  60,000

 Cash in hand  9,000

Purchases   7,08,000

Cash at bank  25,000

Sales  11,80,000

Investment  46,000

Closing Stock  80,000.

5.Prepare Trial Balance for the Following as on 31st March 2021:

Balances   ₹

Purchase: 5,05,000

Return Outward: 5,000

Sales: 8,20,000

Return Inward: 20,000

Debtors: 2,80,000

Cash in Hand: 20,000

Capital: 4,00,000

Plant and Machinery: 3,20,000

Wages: 30,000

Drawing: 50,000

Furniture: 35,000

Bank Overdraft: 32,000

Commission Received: 10,000

Rent Paid: 7000

General Reserve: 30,000

Manufacturing Expenses: 30,000

Prepaid Expenses: 5000

Bad Debt: 10,000

Creditors: 80,000

Administrative Expenses: 50,000

Bills Receivable: 20,000

Opening Stock: 25,000

Carriage Inward: 5000

Carriage Outward: 10,000

Bills Payable: 30,000

Bank Loan: 10,000

SUBSIDIARY BOOKS
1. Madanlal operates two bank accounts both of which are maintained in the columnar
cash book itself. You are required to prepare a proforma of the cash book, record the
following transactions therein and draw the closing balances as on 30th June, 1997.
June
20 Opening Balance of cash Rs.1,180
1997
20 Progressive Bank Rs.19,040
20 Goodwill Bank Rs.6,460 (Overdraft)
Received cheque for Rs.1,800 from a debtor Mr X and deposited in Goodwill Bank.
20 The bank credited the amount on 23 June, 1998 and debited Rs.4 to the account as
its collection charges.
21 Purchased goods for Rs.18,210 and a cheque issued on Progessive Bank.
22 Paid office expenses Rs.410 and Rs.80 for stationery in cash.
Deposited a cheque in Progressive Bank for Rs.21,090 as sale proceeds of goods. The
23 bank credited the amount on the same day and debited Rs.21 as cheque discounting
charges.
A cheque for Rs.8,000 drawn by Mr Madanlal himself on Progressive Bank was
23
deposited in his account with Goodwill Bank.
25 Cash drawn from the account with Progressive Bank Rs.600 for office expenses.
25 A Cheque for Rs.1,100 received from Mr A and earlier deposited in the account with
Goodwill Bank (on 14th June, 1998) was returned unpaid and the Bank debited Rs.10
towards its charges. Mr MadanLal received the amount of returned cheque and the
 bank charges in cash from Mr A.
28 Deposited cash Rs.1,500 in the account with Goodwill Bank.
Purchased postal stamps for Rs.200 and paid in cash.
29

2. Enter the following transactions in a cash book with cash, discount and bank columns and
balance the cash book on 30th September 1997.
Sept
Cash in hand Rs.400; Bank overdraft Rs.5,000
1
Injected fresh capital of Rs 10,000; Rs 5,000 from it (Out if fresh capital)
4
was deposited in the bank.
5 Sold goods in cash for Rs.3,000
6 Collected Rs.8,000 from X by cheque and allowed discount Rs.200
10 Purchased goods for Rs.2,000 by cash and Rs.3,000 by cheque
11 Paid Rs.2,500 by cheque and received Rs.100 as discount
12 Paid commission to an agent Rs.500
15 Purchased office Furniture by cash for Rs.2,000
16 Rent paid Rs.100
17 Drew a cheque for personal use Rs.1,000
18 Cash sales Rs.5,000
Collected from Y Rs.4,000 in cash and deposited into Bank the next
20
day.
23 Dividend received by cheque Rs.100 and deposited into Bank.
28 Paid office salaries by cheque Rs.2,000
Deposited cash into Bank Rs.7,000
29

3. Enter the following transactions in the Purchase book of M/s Karun Electronics Ltd., for April
1997.
April 8 Purchased on credit from Vinay Electronics
5 Hatari TV Sets @Rs. 2,500
3 EC TV Sets @Rs 2,800
Trade discount 10%
Apr. 15 Purchased on credit from Lokwell Traders
5 Philips transistors @Rs.400 8 Bush Radios @Rs 500
Trade Discount 15%
Apr.22 Purchased on cash from Decent Electricals
10 Table lamps @Rs. 30 Apr.20 Purchased on credit from Moli Traders
5 Steel chairs @Rs 50
2 Office Tables @Rs 150
5. From the following particulars write up Sales Book of MaheshAnand Furniture Works. 1997
January 5 Sold on credit to Meera & Co.
10 table @Rs.75
50 Chairs @Rs.30 January 18 Sold to Tanwir & Bros on credit
5 Almirahs @Rs.100 50 Chairs @ at Rs.30 5 Tables @Rs 70
January 22 Sold to Satyanamurthy & Co for cash
25 tables @Rs.70
30 Chairs @Rs 28
Mahesh Anand furniture works allow trade discount of 10%.

5. Pass necessary entries for the following transactions and post them in the appropriate
ledger accounts of Prabhakar.
Jan
Started business with Rs.2,00,000 in the bank and Rs.40,000 cash;
1
Bought shop fittings for Rs.40,000 and a van for Rs.60,000 and payment for both were
1
made in cheques
2 Paid rent by cheque for Rs.5,000;
3 Bought goods for resale on credit from Zakir & Co Rs.50,000;
5 Cash sales Rs.5,000;
8 Paid wages of Rs.1,000 to assistant in cash
10 Paid insurance premium by cheque Rs.500;
12 Cash sales Rs.8,000;
1 Paid wages of Rs.1,000 to assistant in cash; Goods returned to Zakir & Co for
5 Rs.6,000;
1
Paid Zakir & Co Rs.30,000 by cheque;
7
1
Bought goods for resale on credit from Rao & Co for Rs.25,000;
9
1
Cash sales Rs.7,000;
9
2
Paid wages of Rs.1,000 to assistant in cash;
2
2
Bought Stationery in cash for Rs.500;
4
2
Cash Sales Rs.15,000;
5
2
Paid Rao & Co Rs.14,000 by cheque;
7
2
Paid wages of Rs.1,000 to assistant in cash;
9
3
Deposited Rs.20,000 in the bank.
1