Balance Sheet and Problem No.

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 Assignment No. 1 Problem No. – 1
From the following transactions find out which two accounted, types of Accounts, Debited/Credited & Reason for Debit or Credit. 1) Mehta started business with Rs. 8000.
2) Purchased goods for cash Rs. 2800.
3) Purchased furniture from Godrej Company Rs. 1000 for cash. 4) Sold goods to Babubhai on credit Rs. 700.
5) Paid for postage stamps purchased Rs. 30.
6) Sold goods to Nanabhai for cash Rs. 400.
7) Paid to Navakal Rs. 500 for Advertisement.
8) Paid to Kishanchand for salary Rs. 1000.
9) Paid into Bank account Rs. 2500.
10) Withdraw from bank for personal use Rs. 300.
Trial Balance - 9100
Problem No. – 2
From the following transactions find out which two accounted, types of Accounts, Debited/Credited & Reason for Debit or Credit. 1) Started business with Rs. 100000.
2) Purchased goods from Pandurang on credit Rs. 1200.
3) Sold goods for cash Rs.500.
4) Bought goods from Pitambar Rs. 1500 on credit.
5) Rakesh paid commission Rs. 150.
6) Paid to landlord Rs. 2500 for office rent.
7) Paid Rs. 350 for electric bill.
8) Purchased National Savings Certificate Rs. 1000.
9) Paid for brokerage Rs. 500 for purchase of shares.
10) Sold Machinery for cash Rs. 10000.
11) Withdrew Rs. 5000 from business for marriage of a son.
12) Distributed goods worth Rs. 200 as free samples.
13) Received from Anand Rs. 2500.
Trial Balance - 115900
Assignment No. 2

Problem No. – 3

Journalize the Problem No. 1 & Problem No. 2

Problem No. – 4

Journalize the following transactions in the books of Shri. Omprakash Gupta, Nagpur. 2011, January
1. Started business with Rs. 10000.
2. Purchased goods on credit from M/s. Poona Stores Rs. 4000. 4. Purchased machinery for cash Rs. 2000.
5. Sold goods for cash Rs. 700.
7. Sold goods on credit to Shri. Raman Rs. 1500.
10. Purchased goods for cash Rs. 2500.
13. Received from Shri. Raman Rs. 1000 on account.
15. Paid municipal taxes Rs. 300.
18. Paid for advertisement Rs. 200.
21. Sold goods for cash Rs. 800.
23. Sold goods to Shri. Vinayak Rs. 950.
25. Paid to M/s. Poona Stores Rs. 2500 on account.
27. Paid Insurance Premium Rs. 250.
29. Sold goods for cash Rs. 400.
30. Paid for household expenses Rs. 500.
Assignment No. 3

Problem No. – 5
Record the following transactions in the Journal Entry of Shri. Ashok Kamat. For the month February,2011 1. Commenced business with cash Rs. 5000 and furniture Rs. 3000. 3. Bought goods on credit from Deepak Rs. 5250.

4. Sold goods for cash Rs. 1270.
5. Paid into bank Rs. 2000.
7. Purchased furniture and payment by cheque Rs. 700.
9.Sold goods to Anand Rs. 920.
14. Sold goods for cash Rs. 1590.
16. Paid to Deepak Rs. 1000 on account.
19. Paid for Life Insurance premium Rs. 280.
21. Paid to Ramanand for commission Rs. 150.
23. Received from Anand Rs. 900 in full settlement of his account. 25. Purchased Shares of Tata co. Rs. 500 and paid for it by cheque. 27. Paid Telephone Charges Rs. 320.
28. Paid to Deepak Rs. 4200 in full settlement of his account. Problem No. – 6
Record the following transactions in the Journal Entry of Shri. Motilal for the month of September 2010

1. Motilal commenced business with cash Rs. 50000, Goods Rs. 10000 and Furniture Rs. 15000. 2. Purchased a Motor Cycle from Honda Co. for cash Rs. 20000. 3. Sold Goods for cash Rs. 3500.
4. Goods purchased from Shri. Popatlal Rs. 9700 on one month’s credit. 6. Sold goods on credit to Shri. Hiralal for Rs. 1530.
7. Paid to Indian Express for advertisement Rs. 400.
9. Sold goods to Shri. Nandalal Rs. 3900.
15. Paid for municipal taxes Rs. 150.
19. Paid to Shri. Popatlal Rs. 9500 in full settlement of his account. 23. Paid for Hotel Bills of the friends & relatives Rs. 600. 25. Sold goods for cash Rs. 2000.
26. Received commission from Shri. Arunlal Rs. 400.
27. Goods taken for personal use Rs. 300.
28. Paid to Patil for carriage Rs. 600.
29....
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