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Class 11 project journal ledger trial balance balance sheet and final accounts |
| Answer» \tRecord the following transaction of A & Co in Journal & Prepare necessary Ledger AC. • On 1st Jan, • 2nd Jan, bought goods on Credit from P & Co for Rs 2,000. • 3rd Jan, sold goods for Cash to B & Co for Rs 500. Asset Amt (Rs p) Liabilities Amt (Rs p) Cash in hand 500 Loan from SBI 10,000 Cash in bank 8,000 Amt due to V & Co 5,000 Stock of goods 4,000 Machinery 20,000 Furniture 5,000 R & Co (Amt due to A & Co) 2,000 S & Co (Amt due to A & Co) 3,000\t4.\xa0• 4th Jan, sold goods to R & Co on credit Rs 1,000. • 5th Jan, received from R & Co amount on 1st Jan Rs 1,900 as full settlement of Rs 2,000. • 6th Jan, payment paid to V & Co by cheque (V & Co allowed Rs 50 discount). • 8th Jan, old furniture sold for cash (book value Rs 300 at Rs 350). • 10th Jan, bought goods for cash Rs 1,000. • 11th Jan, received cheque from S & Co deposited in bank Rs 3,000. • 12th Jan, paid for repair of machinery Rs 200. • 13th Jan, bought goods from V & Co on credit Rs 2,000. • 14th Jan, received cheque from R & Co deposited in bank discount allowed Rs 50 (1,000 – 50 = 950).Click on the given link for full project:Journal, Ledger, Trial Balance and Balance Sheet - SlideShare | |