Journalise the following transactions in the books of Shri Manoj and prepare Ledger Accounts.Opening Debit Balances:Cash in Hand ₹ 15,000; Cash at Bank ₹ 55,000; Stock ₹ 28,000; Debtors ₹ 25,000(Sunil ₹ 5,000; Abhay ₹ 10,000 and Alok ₹ 10,00); Fixed Assets : Computer and Printer ₹ 50,000; Furniture ₹ 10,000; Delivery Van ₹ 25,000.Opening Credit Balances:Bank Loan ₹ 90,000; Creditors ₹ 20,000; Bills Payable ₹ 10,000; Capital ₹ 88,000.Transactions for the month of April, 2017 were :(i) Purchased goods on credit from M/s Prabhat Electricals ₹ 10,000 less 10% Trade Discount. Cheque was issued immediately and availed 2% Cash Discount.(ii) Cheque was received from Abhay for the balance allowing him discount of 2%.(iii) Cheque was received from Alok for the balance due .(iv) Sunil was unable to pay the full dues and offered to pay 75%, which was accepted . Cheque was duly received.(v) Gave goods costing ₹ 1,000 as charity.(vi) In a competition held by the RWA where the shop is located an electric iron costing ₹ 500 was given as an award .(vii) Salaries amounting to ₹ 15,000 provided in the books for the month of March, 2017 were paid.(viii) A debt of ₹ 5,000 that was written off as bad debt in the past was received.(ix) Purchases for the month were: Cash Purchases ₹ 1,00,000 and Credit Purchases ₹ 9,00,000.(x) Sales for the month were: Cash Sales ₹ 15,00,000 and Credit Sales ₹ 3,00,000.(xi) Paid to creditors through cheques ₹ 8,90,000.(xii) Bank Loan repaid during the month ₹ 20,000.

Journalise the following transactions in the books of Shri Manoj and p

1.	Journalise the following transactions in the books of Shri Manoj and prepare Ledger Accounts.Opening Debit Balances:Cash in Hand ₹ 15,000; Cash at Bank ₹ 55,000; Stock ₹ 28,000; Debtors ₹ 25,000(Sunil ₹ 5,000; Abhay ₹ 10,000 and Alok ₹ 10,00); Fixed Assets : Computer and Printer ₹ 50,000; Furniture ₹ 10,000; Delivery Van ₹ 25,000.Opening Credit Balances:Bank Loan ₹ 90,000; Creditors ₹ 20,000; Bills Payable ₹ 10,000; Capital ₹ 88,000.Transactions for the month of April, 2017 were :(i) Purchased goods on credit from M/s Prabhat Electricals ₹ 10,000 less 10% Trade Discount. Cheque was issued immediately and availed 2% Cash Discount.(ii) Cheque was received from Abhay for the balance allowing him discount of 2%.(iii) Cheque was received from Alok for the balance due .(iv) Sunil was unable to pay the full dues and offered to pay 75%, which was accepted . Cheque was duly received.(v) Gave goods costing ₹ 1,000 as charity.(vi) In a competition held by the RWA where the shop is located an electric iron costing ₹ 500 was given as an award .(vii) Salaries amounting to ₹ 15,000 provided in the books for the month of March, 2017 were paid.(viii) A debt of ₹ 5,000 that was written off as bad debt in the past was received.(ix) Purchases for the month were: Cash Purchases ₹ 1,00,000 and Credit Purchases ₹ 9,00,000.(x) Sales for the month were: Cash Sales ₹ 15,00,000 and Credit Sales ₹ 3,00,000.(xi) Paid to creditors through cheques ₹ 8,90,000.(xii) Bank Loan repaid during the month ₹ 20,000.
Answer» Journalise the following transactions in the books of Shri Manoj and prepare Ledger Accounts. Opening Debit Balances: Cash in Hand ₹ 15,000; Cash at Bank ₹ 55,000; Stock ₹ 28,000; Debtors ₹ 25,000(Sunil ₹ 5,000; Abhay ₹ 10,000 and Alok ₹ 10,00); Fixed Assets : Computer and Printer ₹ 50,000; Furniture ₹ 10,000; Delivery Van ₹ 25,000. Opening Credit Balances: Bank Loan ₹ 90,000; Creditors ₹ 20,000; Bills Payable ₹ 10,000; Capital ₹ 88,000. Transactions for the month of April, 2017 were : (i) Purchased goods on credit from M/s Prabhat Electricals ₹ 10,000 less 10% Trade Discount. Cheque was issued immediately and availed 2% Cash Discount. (ii) Cheque was received from Abhay for the balance allowing him discount of 2%. (iii) Cheque was received from Alok for the balance due . (iv) Sunil was unable to pay the full dues and offered to pay 75%, which was accepted . Cheque was duly received. (v) Gave goods costing ₹ 1,000 as charity. (vi) In a competition held by the RWA where the shop is located an electric iron costing ₹ 500 was given as an award . (vii) Salaries amounting to ₹ 15,000 provided in the books for the month of March, 2017 were paid. (viii) A debt of ₹ 5,000 that was written off as bad debt in the past was received. (ix) Purchases for the month were: Cash Purchases ₹ 1,00,000 and Credit Purchases ₹ 9,00,000. (x) Sales for the month were: Cash Sales ₹ 15,00,000 and Credit Sales ₹ 3,00,000. (xi) Paid to creditors through cheques ₹ 8,90,000. (xii) Bank Loan repaid during the month ₹ 20,000.

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