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



Advertisment 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

DR. CR.
20XX
Sep 1st Cash A/c Dr. 10,000 To Share Purchase A/c 10,000
(Being Business Commence with Rs 10000)[/QUOTE]

Entries contain account names, not descriptions of what happened. What account are you going to post "To Share Purchase" in? Because that isn't an account name.

Someone also already gave you the answer to this one.



Sep 10th Cash A/c Dr. 8,600
To Other Income A/c 8600
(Being Cash Received for Income from other Services)

Why "Other Income"? This is his main source of income and therefore would be his main revenue account, not "other" as though it were some miscellaneous thing. Like Service Revenue. If the problem provides account names for you, use whatever they do.



Sep 17th Cash A/c Dr. 11,200
To Income from Business A/c 11,200 (Being Cash Received for Business Income)

Two things: One, that's a description again "To Income from Business" is not the name of an account. Second, this is the same thing as Sept 10 so you're also being inconsistent. They are both going to be the same name, whether you call it Service Revenue or something else. You cannot change the name every time there is 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)

Um... "Job Work" is also not an account name. Actually, if I saw that, I would think that was a revenue account, which would never be debited. You did another job. Where do you put jobs when you do them? The same place as Sept 10 and Sept 17. In all three cases, the work has been completed and earned, and therefore goes into the earnings account as a credit. Again, stop changing the name every time.

As for the Creditors - that's who you owe to. Does he owe someone else for work he has done? Going to go broke real quick that way. Who owes whom?



Sep 25th Wages A/c Dr. 1,500 To Cash A/c 1,500
(Being Cash Paid for wages)

Wages EXPENSE. The work "expense" is important because it tells you what kind of account it is, for instance, that is isn't Wages Payable. And ditto on the electricity.



Sep 29th Cash A/c Dr. 4,800
To Creditors A/c 4,800
(Being Part Payment Received from Customer)

Again, creditors are the ones you owe, not who owe you. On the 23rd you credited this account and now you're crediting it again. So even if that were the correct account (which it's not), you wouldn't credit going in and credit coming out. Those are opposites.

There's no sense trying to deal with the ledger accounts until this is corrected. But I also am not following what you are doing in the accounts.

But I can tell you some things wrong. First, put them in order properly, starting with cash, like you always see in the account lists. They're in that order and together by type so that people can find them. Theoretically the date should be Sept 30. The balances will carry into October, but you have to finish up September first. You are using some account names that are different than your journal entries -- the journal entries should use the proper ledger account name, and that's the account you post to. Don't go around changing them. You're also missing accounts.

Also look at your post and notice that columns don't stay.