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-   -   I have made the journal entries and ledger a/c make a correction , (https://www.askmehelpdesk.com/showthread.php?t=418853)

  • Nov 24, 2009, 02:26 AM
    delhidude
    I have made the journal entries and ledger a/c make a correction ,
    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
  • Nov 26, 2009, 10:50 PM
    morgaine300

    This was responded to over here:
    https://www.askmehelpdesk.com/accoun...rs-416376.html

    Please keep the same problem in the same place. I can also tell by just glancing at this post that you have ignored everything I told you on the other post. If you want someone to help you, you have to pay attention to the responses.

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