delhidude
Nov 24, 2009, 02:26 AM
I Have made the Journal Entries and post them into ledger, make a correction if found anything wrong and help me out how to tally the trial balance of the following transaction.
Rajaram quit his job and started woodcraft comopany ( Service Firm) The transactions of the business for September are as follows.
Sep 1 Began Business by investing cash Rs 10000 in exchange of 1000 shares
Sep 4 Paid two month Rent in advance for a shop Rs 2000
Sep 5 Bought Equipment for cash Rs 1200
Sep 7 Bought Supplies on Credit Of Rs700
Sep 10 Recd For remodelling a Kitchen Rs 8600 ( Revenue From Service)
Sep 14 Paid for Advertisement that appeard in local newspaper Rs 1400
Sep 17 Recd for Furnishing an office room 11.200 ( revennue from service)
Sep 23 Billed customers for work done other than cash Terms Rs 13.100
Sep 25 Piad wages to assistant Rs 1500
Sep 28 Paid electricity charges Rs 240
Sep 29 Recd part payment from custoerms Billed on 23 Sep Rs 4,800
Sep 30 Declared and paid a dividend Rs 2500
I Have made the Necessary journals Entries and post them into ledgers . Make a correction if there is any misatake and help me out how to tally the trial balance
Journal Entries
Date Particulars L.F. Amount Amount
DR. CR.
20XX
Sep 1st Cash A/c Dr. 10,000 To Share Purchase A/c 10,000
(Being Business Commence with Rs 10000)
Sep 4th Prepaid Rent A/c Dr. 2,000
To Cash A/c 2,000
(Being Advance Rent Paid In Cash)
Sep 5th Equipment A/c 1,200
To Cash A/c 1,200
(Being Equipment Bought for Cash )
Sep 7th Supplies A/c Dr. 700
To Creditors A/c 700
(Being Suppleis Bought for Credit)
Sep 10th Cash A/c Dr. 8,600
To Other Income A/c 8600
(Being Cash Received for Income from other Services)
Sep 14th Advertisement A/c Dr. 1,400
To Cash A/c 1,400
(Being Cash Paid for Advertisement)
Sep 17th Cash A/c Dr. 11,200
To Income from Business A/c 11,200 (Being Cash Received for Business Income)
Sep 23rd Job Work A/c Dr. 13,100
To Creditors A/c 13,100
(Being Bill Due on A/c of Work done)
Sep 25th Wages A/c Dr. 1,500 To Cash A/c 1,500
(Being Cash Paid for wages)
Sep 28th Electricity A/c Dr. 240
To Cash A/c 240
(Being Cash paid for Electricity)
Sep 29th Cash A/c Dr. 4,800
To Creditors A/c 4,800
(Being Part Payment Received from Customer)
Sep 30 Dividend A/c Dr. 2,500
To Cash A/c 2,500
(Being Cash Paid for Dividend)
TOTAL 57240 57240
Ledgers Accounts
Share Purchase Account
Dr. Cr.
20XX Rs. 20XX Rs.
Sep-30 To balance C/d 10,000 Sep-01 By Cash A/c 10,000
10,000 10,000
Oct-01 By Balance B/d 10,000
Prepaid Rent Account
Dr. Cr.
20XX Rs. 20XX Rs.
Sep-04 To Cash A/c 2,000 Sep-30 By Balance c/d 2,000
2,000 2,000
Oct-01 To Balance B/d 2,000
Equipment Account
Dr. Cr.
20XX Rs. 20XX Rs.
Sep-05 To Cash A/c 1,200 Sep-30 By Balance c/d 1,200
2,000 2,000
Oct-01 To Balance B/d 1,200
Supplies Account
Dr. Cr.
20XX Rs. 20XX Rs.
Sep-07 To Cash A/c 700 Sep-30 By Balance c/d 700
700 700
Oct-01 To Balance B/d 700
Advertisement Account
Dr. Cr.
20XX Rs. 20XX Rs.
Sep-14 To Cash A/c 1,400 Sep-30 By Balance c/d 1,400
1,400 1,400
Oct-01 To Bal. b/d 1,400
Job Work Account
Dr. Cr.
20XX Rs. 20XX Rs.
Sep-23 To Creditors A/c 13,100 Sep-30 By Balance c/d 13,100
13,100 13,100
To Balance B/d
Oct-01 13,100
Wages Account
Dr. Cr.
20XX Rs. 20XX Rs.
Sep-25 To Cash A/c 1,500 Sep-30 By Balance c/d 1,500
1,500 1,500
Oct-01 To Balance B/d 1,500
Electricity Account
Dr. Cr.
20XX Rs. 20XX Rs.
Sep-28 To Cash A/c 240 Sep-30 By Balance c/d 240
240 240
Oct-01 To Balance B/d 240
Dividend Account
Dr. Cr.
20XX Rs. 20XX Rs.
Sep-30 To Cash A/c 2,500 Sep-30 By Balance c/d 2,500
2,500 2,500
Oct-01 To Balance B/d 2,500
Income From Service (Business)
Dr. Cr.
20XX Rs. 20XX Rs.
Sep-10 To Balance C/d 8,600 Sep-30 By Cash A/c 8,600
8,600 8,600
Oct-01 To Balance B/d 8,600
Rajaram quit his job and started woodcraft comopany ( Service Firm) The transactions of the business for September are as follows.
Sep 1 Began Business by investing cash Rs 10000 in exchange of 1000 shares
Sep 4 Paid two month Rent in advance for a shop Rs 2000
Sep 5 Bought Equipment for cash Rs 1200
Sep 7 Bought Supplies on Credit Of Rs700
Sep 10 Recd For remodelling a Kitchen Rs 8600 ( Revenue From Service)
Sep 14 Paid for Advertisement that appeard in local newspaper Rs 1400
Sep 17 Recd for Furnishing an office room 11.200 ( revennue from service)
Sep 23 Billed customers for work done other than cash Terms Rs 13.100
Sep 25 Piad wages to assistant Rs 1500
Sep 28 Paid electricity charges Rs 240
Sep 29 Recd part payment from custoerms Billed on 23 Sep Rs 4,800
Sep 30 Declared and paid a dividend Rs 2500
I Have made the Necessary journals Entries and post them into ledgers . Make a correction if there is any misatake and help me out how to tally the trial balance
Journal Entries
Date Particulars L.F. Amount Amount
DR. CR.
20XX
Sep 1st Cash A/c Dr. 10,000 To Share Purchase A/c 10,000
(Being Business Commence with Rs 10000)
Sep 4th Prepaid Rent A/c Dr. 2,000
To Cash A/c 2,000
(Being Advance Rent Paid In Cash)
Sep 5th Equipment A/c 1,200
To Cash A/c 1,200
(Being Equipment Bought for Cash )
Sep 7th Supplies A/c Dr. 700
To Creditors A/c 700
(Being Suppleis Bought for Credit)
Sep 10th Cash A/c Dr. 8,600
To Other Income A/c 8600
(Being Cash Received for Income from other Services)
Sep 14th Advertisement A/c Dr. 1,400
To Cash A/c 1,400
(Being Cash Paid for Advertisement)
Sep 17th Cash A/c Dr. 11,200
To Income from Business A/c 11,200 (Being Cash Received for Business Income)
Sep 23rd Job Work A/c Dr. 13,100
To Creditors A/c 13,100
(Being Bill Due on A/c of Work done)
Sep 25th Wages A/c Dr. 1,500 To Cash A/c 1,500
(Being Cash Paid for wages)
Sep 28th Electricity A/c Dr. 240
To Cash A/c 240
(Being Cash paid for Electricity)
Sep 29th Cash A/c Dr. 4,800
To Creditors A/c 4,800
(Being Part Payment Received from Customer)
Sep 30 Dividend A/c Dr. 2,500
To Cash A/c 2,500
(Being Cash Paid for Dividend)
TOTAL 57240 57240
Ledgers Accounts
Share Purchase Account
Dr. Cr.
20XX Rs. 20XX Rs.
Sep-30 To balance C/d 10,000 Sep-01 By Cash A/c 10,000
10,000 10,000
Oct-01 By Balance B/d 10,000
Prepaid Rent Account
Dr. Cr.
20XX Rs. 20XX Rs.
Sep-04 To Cash A/c 2,000 Sep-30 By Balance c/d 2,000
2,000 2,000
Oct-01 To Balance B/d 2,000
Equipment Account
Dr. Cr.
20XX Rs. 20XX Rs.
Sep-05 To Cash A/c 1,200 Sep-30 By Balance c/d 1,200
2,000 2,000
Oct-01 To Balance B/d 1,200
Supplies Account
Dr. Cr.
20XX Rs. 20XX Rs.
Sep-07 To Cash A/c 700 Sep-30 By Balance c/d 700
700 700
Oct-01 To Balance B/d 700
Advertisement Account
Dr. Cr.
20XX Rs. 20XX Rs.
Sep-14 To Cash A/c 1,400 Sep-30 By Balance c/d 1,400
1,400 1,400
Oct-01 To Bal. b/d 1,400
Job Work Account
Dr. Cr.
20XX Rs. 20XX Rs.
Sep-23 To Creditors A/c 13,100 Sep-30 By Balance c/d 13,100
13,100 13,100
To Balance B/d
Oct-01 13,100
Wages Account
Dr. Cr.
20XX Rs. 20XX Rs.
Sep-25 To Cash A/c 1,500 Sep-30 By Balance c/d 1,500
1,500 1,500
Oct-01 To Balance B/d 1,500
Electricity Account
Dr. Cr.
20XX Rs. 20XX Rs.
Sep-28 To Cash A/c 240 Sep-30 By Balance c/d 240
240 240
Oct-01 To Balance B/d 240
Dividend Account
Dr. Cr.
20XX Rs. 20XX Rs.
Sep-30 To Cash A/c 2,500 Sep-30 By Balance c/d 2,500
2,500 2,500
Oct-01 To Balance B/d 2,500
Income From Service (Business)
Dr. Cr.
20XX Rs. 20XX Rs.
Sep-10 To Balance C/d 8,600 Sep-30 By Cash A/c 8,600
8,600 8,600
Oct-01 To Balance B/d 8,600