1984

Prepare journal entries, triple column cash book, required subsidiary books; post all the transactions to respective ledgers; and prepare the trial balance. Document Preview:

Financial Accounting (EMBA) (Due date 15th August 2010) Assignment -I DateParticularsRs. 1. 1. 1. 2. 3. 3. 4. 4. 5. 5. 5. 6. 6. 7. 7. 8. 8. 8. 9. 10. 10. 11. 13. 15. 18. 19. 20. 22. 22. 22. 25. 28. 28. 29. 29. 30. 31. 31. 31. 31. 31. Commenced business with cash Paid cash towards deposit to landlord Opened current account with HSBC Credit purchased from Upul Purchased goods for cash Sold goods to ABC & Company Purchased goods from Thakur Bros. Paid Arun an advance for goods ordered Goods returned from ABC & Company Sold goods to Peter Deposited cheque received from Clark as an advance for goods ordered by him Furniture purchased. Payment made by cheque Clark’s cheque dishonored Paid wages by cash Additional capital deposited in Bank Received goods from Arun Received commission (in cash) New cheque received from Clark and deposited Goods returned to Upul Goods sold to Nayana Goods dispatched to Clark Postage and telegrams expenses met by cash Goods returned by Nayana Purchased stationary for cash Deposited in to Bank Paid to Upul by cheque Cash sales Cash purchases Received cheque from ABC & Company Discount allowed to ABC & Company for prompt payment Salaries paid by cash Rent paid Cheque issued to Thakur Bros. Paid to Upul by cheque Discount received from Upul for prompt payment Purchased goods – payment by cash Withdrawal by Rao Paid to Upul by cash Discount received by Upul for prompt payment Received cheque from ABC & Company and deposited Discount allowed to ABC & Company for prompt payment 72,000 3,000 52,000 30,000 1,000 32,000 13,000 2,000 3,000 3,000 3,000 2,000 3,000 500 10,000 12,000 600 5,000 200 10,000 12,000 200 500 200 500 9,000 750 1,000 19,000 950 700 500 5,000 5,000 1,000 5,000 1,000 5,000 1,000 5,000 250 Prepare journal entries, triple column cash book, required subsidiary books; post all the transactions to respective ledgers; and prepare the trial balance. “Assumption is Mr. Rao is the owner of the business”

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