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Tutorial On Ledger

The document outlines a series of financial transactions for JK Traders and other businesses, including capital investments, purchases, sales, and expenses. It provides specific amounts for each transaction, which are to be journalized and recorded in ledger accounts. The transactions cover various aspects of business operations, such as cash flow, purchases, and income from sales.

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94 views3 pages

Tutorial On Ledger

The document outlines a series of financial transactions for JK Traders and other businesses, including capital investments, purchases, sales, and expenses. It provides specific amounts for each transaction, which are to be journalized and recorded in ledger accounts. The transactions cover various aspects of business operations, such as cash flow, purchases, and income from sales.

Uploaded by

divya8955
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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1.

From the following transactions prepare journal


entries and ledger accounts of JK traders
 Started business with capital -5 lakhs
 Purchased goods from PK traders -80,000
 Purchased machinery-1 lakh
 Purchased furniture from furniture & co-50,000
 Sold goods to like traders-7 lakhs
 Deposited cash into bank-20,000
 Received Rs.30,000 from like traders
 Paid to PK traders 20,000
 Insurance paid-3000
 Commission received-2000

2. Journalise the following transactions


 X invested in business 12,00,000
 Sold goods worth 20,000
 Purchased goods worth 75,000
 Sold goods to jin 1,00,000
 Building purchased 10,000
 Paid to stationery 5,100
 Cash deposited 50,000
 Transport charges 7,300

3. Journalise the following transactions


 Commenced business with cash -5,00,000
 Purchased furniture for cash-20,000
 Cash purchases-50,000
 Deposited with bank-50,000
 Sold to niharika for cash-2,00,000
 Sold goods to park&co-1,00,000
 Purchases from Gucci&co-1,25,000
 Wages paid-75,300
 Withdraw from bank-12,500
 Electricity expenditure paid-3,575

4. journalise the following transactions


 Started business with capital of Rs.10 lakhs
 Purchased goods Rs.5 lakhs
 Purchased building Rs.2,00,000
 Purchased furniture Rs.50,000
 Sold goods Rs.7 lakhs
 Purchased goods from kp ltd Rs.50,000
 Paid Rs.20,00 towards insurance
 Paid to kp ltd Rs.20,000
 Travelling expenses 10,000

5. prepare journal entries


 Invested capital of Rs.300000
 Purchased goods worth Rs.2,50,000
 Paid wages 30,000
 Received rent of 25,000
 Sold goods for cash 4,75,000
 Commission received 5000
 Discount allowed 2,500
 Building purchased for 1,00,000
 Purchases from suga 85,000
 Sold to RM goods worth 1,20,000

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