Answer:

We are providing you with few transactions of M/s. Rajesh Traders consisting of 16 transactions along with Journal ENTRIES, Ledgers, Trial Balance, Financial Statements along with some of the ledgers and similarly, you can prepare the remaining ledgers.

The following are the transactions of M/s Rajesh Traders.

Date PARTICULARS

2012

April 1 Rajesh started his business with cash Rs 1,00,000

April 10 Rajesh opened an account in a BANK with cash Rs 30,000

May 10 Purchased goods from Mohan Singh on credit Rs 40,000 and also paid carriage of Rs 2,000

May 20 Sold goods to Rajeev Rs 20,000

May 25 Due to some quality defect Mohan Singh returned goods of Rs 10,000

June 15 Sold goods to Ayesha for Rs 70,000

June 30 Paid rent of Rs 10,000

Aug.31 Purchased Furniture for cash of Rs 8,000

Sept.10 Paid through a cheque of Rs 5,000 for advertisement

Oct.05 Withdrawn Rs 6,000 from Bank for personal use

Nov.30 Recovered Rs 65,000 from Ayesha in full settlement of his account

Dec.12 Goods costing Rs 1,000 donated to NGO

Dec.31 Salaries paid to employees Rs 15,000

2013

Jan.15 Interest received from Bank Rs 2,000

Feb.10 Rajeev has become insolvent Rs 80 paisa in the rupees on a debt of Rs 20,000 was recovered as a compensation

March 31 Stock of good at end of the year is Rs 32,000

Journalize above transaction, post them in ledgers, prepare Trial Balance and Financial Statements for year ending March 31, 2013

Books of M/s Rajesh Traders

Journal

Date Particulars L.F. Debit

Amount

(Rs) Credit

Amount

(Rs)

2012

April 01 Cash A/c Dr. 1,00,000

To Capital A/c 1,00,000

(Business started with cash of Rs 1,00,000)

April 10 Bank A/c Dr. 30,000

To Cash A/c 30,000

(Opened a Bank Account)

May 10 Purchase A/c Dr. 40,000

To Mohan Singh 40,000

(Goods Purchased on credit)

May 10 Carriage A/c Dr. 2,000

To Cash A/c 2,000

(Carriage paid on purchase of goods)

May 20 Rajeev Dr. 20,000

To SALES A/c 20,000

(Goods sold to Rajeev)

May 25 Mohan Singh Dr. 10,000

To Purchase Return A/c 10,000

(Goods returned by Mohan Singh)

June 15 Ayesha Dr. 70,000

To Sales A/c 70,000

(Goods Sold to Ayesha)

June 30 Rent A/c Dr. 10,000

To Cash A/c 10,000

(Rent Paid)

Aug.31 Furniture A/c Dr. 8,000

To Cash A/c 8,000

(Furniture purchased)

Sept.10 Advertisement A/c Dr. 5,000

To Bank A/c 5,000

(Advertisement expenses paid through cheque)

Oct.05 Drawing A/c Dr. 6,000

To Bank 6,000

(Withdrawn from bank for personal use)

Nov.30 Cash A/c Dr. 65,000

Discount Allowed A/c Dr. 5,000

To Ayesha 70,000

(Recovered from Ayesha in full settlement of his account)

Dec.12 Donation A/c Dr. 1,000

To Purchases A/c 1,000

(Goods of Rs 1,000 donated to NGO)

Dec.31 Salaries A/c Dr. 15,000

To Cash A/c 15,000

(Salaries Paid to employees)

2013

Jan.15 Bank A/c Dr. 2,000

To Interest A/c 2,000

(Interest received)

Feb.10 Cash A/c Dr. 16,000

Bad debt A/c Dr. 4,000

To Rajeev A/c 20,000

(Cash compensation of 80 paise in the rupees received from Rajeev)

Mar.31 Closing Stock A/c Dr. 32,000

To Trading A/c 32,000

(Closing stock transferred in account)

Cash Account

Dr. Cr.

Date Particulars J.F. Amount

(Rs) Date Particulars J.F. Amount

(Rs)

2012 2012

April.01 Capital A/c 1,00,000 April 10 Bank A/c 30,000

Nov.30 Ayesha 65,000 May 10 Carriage A/c 2,000

2013 June 30 Rent A/c 10,000

Feb.10 Rajeev 16,000 Aug.31 Furniture A/c 8,000

Dec.31 Salaries A/c 15,000

2013