Ledger - Problems and Solutions

Problem - 1

Mr. Ramu has the following transactions in the month of July.

Record them into the journal and show postings in the ledger and balance the accounts.

July 1st : Ramu started business with a capital of 75,000
1st : Purchased goods from Manu on credit 25,000
2nd : Sold goods to Sonu 20,000
3rd : Purchased goods from Meenu for cash 15,000
4th : Sold goods to Tanu for cash 16,000
5th : Goods retuned to Manu 2,000
6th : Bought furniture for 15,000
7th : Bought goods from Zenu 12,000
8th : Cash paid to Manu 10,000
9th : Sold goods to Jane 13,500
10th : Goods returned from Sonu 3,000
11th : Cash received from Jane 5,500
12th : Goods taken by Ramu for domestic use 3,000
13th : Returned Goods to Zenu 1,000
14th : Cash received from Sonu 12,000
15th : Bought machinery for 18,000
16th : Sold part of the furniture for 1,000
17th : Cash paid for the purchase of bicycle for Ramu's son 1,500
19th : Cash sales 15,000
20th : Cash purchases 13,500

Solution

Journal in the books of M/s Rama & Sons
for the period from July 1st, _5 to July 31st, _5
Date V/R
No.
Particulars L/F Amount
(Dr)
Amount
(Cr)
July 1st Cash a/c
To Capital a/c
Dr


75,000
75,000
[Being the amount received from Mr. Ramu, the proprietor as his capital contribution vide receipt no:___ dated:__]
July 1st Goods/stock a/c
To Manu a/c
Dr


25,000
25,000
[Being the value of stock purchased from Mr. Manu vide bill no:___ dated:__]
July 2nd Sonu a/c
To Goods/stock a/c
Dr


20,000
20,000
[Being the value of stock sold to Mr.Sonu vide bill no:___ dated:__]
July 3rd Goods/stock a/c
To Meenu a/c
Dr


15,000
15,000
[Being the value of stock purchased from Mr.Meenu on credit vide bill no:___ dated:__]
July 4th Cash a/c
To Goods/stock a/c
Dr


16,000
16,000
[Being the value of stock sold to Mr. Tanu for cash vide receipt no:___ dated:__]
July 5th Manu a/c
To Goods/stock a/c
Dr


2,000
2,000
[Being the value of stock returned to Mr. Manu vide bill no:___ dated:__]
July 6th Furniture a/c
To Cash a/c
Dr


15,000
15,000
[Being the value of furniture purchased from M/s ___vide bill no:___ dated:__]
July 7th Goods/stock a/c
To Zenu a/c
Dr


12,000
12,000
[Being the value of stock Purchased from Mr. Zenu vide bill no:___ dated:__]
July 8th Manu a/c
To Cash a/c
Dr


10,000
10,000
[Being the amount paid to Mr. Manu vide voucher no:___ dated:__]
July 9th Jane a/c
To Goods/stock a/c
Dr


13,500
13,500
[Being the value of stock Sold to Ms.Zane vide bill no:___ dated:__]
July 10th Goods/stock a/c
To Sonu a/c
Dr


3,000
3,000
[Being the value of stock returned from Mr. Sonu vide bill no:___ dated:__]
July 11th Cash a/c
To Jane a/c
Dr


5,500
5,500
[Being the amount of cash received from Ms. Jane vide cash receipt no:___ dated:__]
July 12th Drawings a/c
To Goods/stock a/c
Dr


3,000
3,000
[Being the amount of stock taken by Ramu for domestic use vide bill no:___ dated:__]
July 13th Zenu a/c
To Goods/stock a/c
Dr


1,000
1,000
[Being the amount of stock returned to Mr. Zenu vide bill no:___ dated:__]
July 14th Cash a/c
To Sonu a/c
Dr


12,000
12,000
[Being the amount of cash received from Mr. Sonu vide cash receipt no:___ dated:_]
July 15th Machinery a/c
To Cash a/c
Dr


18,000
18,000
[Being the amount paid for machinery purchased to M/s ____vide voucher no:___ dated:__]
July 16th Cash a/c
To Furniture a/c
Dr


1,000
1,000
[Being the amount received on sale of furniture vide cash receipt no:___ dated:__]
July 17th Drawings a/c
To Cash a/c
Dr


15,000
15,000
[Being the amount of cash paid for bicycle purchases for proprietor's son vide voucher no:___ dated:__]
July 19th Cash a/c
To Goods/stock a/c
Dr


15,000
15,000
[Being the value of stock sold for cash vide receipt no:___ dated:__]
July 20th Goods/stock a/c
To Cash a/c
Dr


13,500
13,500
[Being the value of stock Purchased for vide voucher no:___ dated:__]

General Ledger
[Books of Mr. Ramu]

Cash a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
01/10/_5
04/10/_5
11/10/_5
14/10/_5
16/10/_5
19/10/_5
To Capital a/c
To Goods/stock a/c
To Jane a/c
To Sonu a/c
To Furniture a/c
To Goods/stock a/c





75,000
16,000
5,500
12,000
1,000
15,000
06/10/_5
08/10/_5
15/10/_5
17/10/_5
20/10/_5
30/07/_5
By Furniture a/c
By Manu a/c
By Machinery a/c
By Drawings a/c
By Goods/stock a/c
By Balance c/d





15,000
10,000
18,000
15,000
13,500
53,000
tl 1,24,500 tl 1,24,500
31/07/_5 To Balance b/d 53,000
Capital a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
30/07/_5 To Balance c/d 75,000 01/10/_5 By Cash a/c 75,000
tl 75,000 tl 75,000
31/07/_5 By Balance b/d 75,000
Goods/stock a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
01/10/_5
03/10/_5
07/10/_5
10/10/_5
20/10/_5
30/07/_5
To Manu a/c
To Meenu a/c
To Zenu a/c
To Sonu a/c
To Cash a/c
To Balance c/d





25,000
15,000
12,000
3,000
13,500
2,000
02/10/_5
04/10/_5
05/10/_5
09/10/_5
12/10/_5
13/10/_5
19/10/_5
By Sonu a/c
By Cash a/c
By Manu a/c
By Jane a/c
By Drawings a/c
By Zenu a/c
By Cash a/c






20,000
16,000
2,000
13,500
3,000
1,000
15,000
tl 70,500 tl 70,500
31/07/_5 By Balance b/d 2,000
Manu a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
05/10/_5
08/10/_5
30/07/_5
To Goods/stock a/c
To Cash a/c
To Balance c/d


2,000
10,000
13,000
01/10/_5 By Goods/stock a/c 25,000
tl 25,000 tl 25,000
31/07/_5 By Balance b/d 13,000
Sonu a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
02/10/_5 To Goods/stock a/c 20,000 10/10/_5
14/10/_5
30/07/_5
By Goods/stock a/c
By Cash a/c
By Balance c/d


3,000
12,000
5,000
tl 20,000 tl 20,000
31/07/_5 To Balance b/d 5,000
Meenu a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
30/07/_5 To Balance c/d 15,000 03/10/_5 By Goods/stock a/c 15,000
tl 15,000 tl 15,000
31/07/_5 By Balance b/d 15,000
Furniture a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
06/10/_5 To Cash a/c 15,000 16/10/_5
30/07/_5
By Cash a/c
By Balance c/d

1,000
14,000
tl 15,000 tl 15,000
31/07/_5 To Balance b/d 14,000
Zenu a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
13/10/_5
30/07/_5
To Goods/stock a/c
To Balance c/d

1,000
11,000
07/10/_5 By Goods/stock a/c 12,000
tl 12,000 tl 12,000
31/07/_5 By Balance b/d 11,000
Jane a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
09/10/_5 To Goods/stock a/c 13,500 11/10/_5
30/07/_5
By Cash a/c
By Balance c/d

5,500
8,000
tl 13,500 tl 13,500
31/07/_5 To Balance b/d 8,000
Drawings a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
12/10/_5
17/10/_5
To Goods/stock a/c
To Cash a/c

3,000
15,000
30/07/_5 By Balance c/d 18,000
tl 18,000 tl 18,000
31/07/_5 To Balance b/d 18,000
Machinery a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
15/10/_5 To Cash a/c 18,000 30/07/_5 By Balance c/d 18,000
tl 18,000 tl 18,000
31/07/_5 To Balance b/d 18,000

Problem - 2

Journalise the following transactions in the books of Moon and post them into the ledger for the month of August

Aug 10th : Moon commenced business with a capital of 1,50,000
11th : Cash deposited into bank 50,000
12th : Bought equipment for 15,000
13th : Bought goods worth 20,000 from Star and payment made by cheque
14th : Sold goods to Sun for 15,000 and payment received through cheque
16th : Paid rent by cheque 5,000
17th : Took loan from Mr. Storm 25,000
18th : Received commission from Mr. Air by cheque 5,000
19th : Wages paid 15,000
20th : Withdrew from bank for personal use 3,000
21st : Withdrew from bank for office use 10,000
22nd : Bought goods for 25,000
23rd : Cash paid into bank 30,000
24th : Interest paid through cheque 2,000
25th : Gave loan to Mr.Wind 10,000
26th : Amount paid to Mr. Storm on loan account 15,000
27th : Salary paid to Manager Mr. Liquid 5,000
28th : Postage paid 1,000
29th : Received cheque from Mr. Wind on loan account 3,000
30th : Sold part of the equipment for 2,000

Solution

Journal in the books of M/s Rama & Sons
for the period from August 10th, _5 to August 30th, _5
Date V/R
No.
Particulars L/F Amount
(Dr)
Amount
(Cr)
August 10th Cash a/c
To Capital a/c
Dr


1,50,000
1,50,000
[Being the amount received from Mr. Moon, the proprietor as his capital contribution vide receipt no:__ dated:__]
11th Bank a/c
To Cash a/c
Dr


50,000
50,000
[Being the amount of cash deposited into bank vide bill no:___ dated:__]
12th Equipment a/c
To Cash a/c
Dr


15,000
15,000
[Being the value of equipment purchased from M/s___ for cash vide bill no:___ dated:__]
13th Goods/stock a/c
To Bank a/c
Dr


20,000
20,000
[Being the payment made for stock purchased vide Cheque no:__ dated:__]
14th Bank a/c
To Goods/stock a/c
Dr


15,000
15,000
[Being the amount received for stock sold to Mr. Sun vide Cheque no:__ dated:__]
16th Rent a/c
To Bank a/c
Dr


5,000
5,000
[Being the amount paid for rent vide voucher no:___ dated:__]
17th Cash a/c
To Loan from Storm a/c
Dr


25,000
25,000
[Being the cash received from Mr. Storm as loan vide receipt no:___ dated:__]
18th Bank a/c
To Commission a/c
Dr


5,000
5,000
[Being the amount received for commission vide cheque no:__ dated:__]
19th Wages a/c
To Cash a/c
Dr


15,000
15,000
[Being the amount paid for wages vide voucher no:___ dated:__]
20th Drawings a/c
To Bank a/c
Dr


3,000
3,000
[Being the amount withdrawn from bank for personal use vide cheque no:___ dated:__]
21st Cash a/c
To Bank a/c
Dr


10,000
10,000
[Being the amount withdrawn from bank for office purpose vide cheque no:___ dated:__]
22nd Goods/stock a/c
To Cash a/c
Dr


25,000
25,000
[Being the amount of cash paid for stock purchases vide voucher no:___ dated:__]
23rd Bank a/c
To Cash a/c
Dr


30,000
30,000
[Being the amount deposited into bank vide voucher no:___ dated:__]
24th Interest a/c
To Bank a/c
Dr


2,000
2,000
[Being the amount of interest paid vide cheque no:___ dated:__]
25th Loan to Mr. Wind a/c
To Cash a/c
Dr


10,000
10,000
[Being the amount of cash given to Mr. Wind as loan vide voucher no:___ dated:__]
26th Loan from Strom a/c
To Cash a/c
Dr


15,000
15,000
[Being the amount paid to Mr. Storm for repayment of loan vide voucher no:___ dated:__]
27th Salary a/c
To Cash a/c
Dr


5,000
5,000
[Being the amount paid for salary to Mr. Liquid vide voucher no:___ dated:__]
28th Postage a/c
To Cash a/c
Dr


1,000
1,000
[Being the amount paid for purchase of postage vide voucher no:___ dated:__]
29th Bank a/c
To Loan to Mr. wind a/c
Dr


3,000
3,000
[Being the Cheque no:___ date___ received from Mr. Wind for repayment of loan]
30th Cash a/c
To Equipment a/c
Dr


2,000
2,000
[Being the amount received on sale of equipment vide receipt no:___ dated:__]

General Ledger
[Books of M/s Rama & Sons]

Cash a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
10/10/_5
17/10/_5
21/10/_5
30/10/_5
To Capital a/c
To Loan from Storm a/c
To Bank a/c
To Equipment a/c



1,50,000
25,000
10,000
2,000
11/10/_5
12/10/_5
19/10/_5
22/10/_5
23/10/_5
25/10/_5
26/10/_5
27/10/_5
28/10/_5
31/08/_5
By Bank a/c
By Equipment a/c
By Wages a/c
By Goods/stock a/c
By Bank a/c
By Loan to Mr. Wind a/c
By Loan from Strom a/c
By Salary a/c
By Postage a/c
By Balance c/d









50,000
15,000
15,000
25,000
30,000
10,000
15,000
5,000
1,000
21,000
tl 1,87,000 tl 1,87,000
01/09/_5 To Balance b/d 21,000
Capital a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
31/08/_5 To Balance c/d 1,50,000 10/10/_5 By Cash a/c 1,50,000
tl 1,50,000 tl 1,50,000
01/09/_5 By Balance b/d 1,50,000
Bank a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
11/10/_5
14/10/_5
18/10/_5
23/10/_5
29/10/_5
To Cash a/c
To Goods/stock a/c
To Commission a/c
To Cash a/c
To Loan to Mr. wind a/c




50,000
15,000
5,000
30,000
3,000
13/10/_5
16/10/_5
20/10/_5
21/10/_5
24/10/_5
31/08/_5
By Goods/stock a/c
By Rent a/c
By Drawings a/c
By Cash a/c
By Interest a/c
By Balance c/d





20,000
5,000
3,000
10,000
2,000
63,000
tl 1,03,000 tl 1,03,000
01/09/_5 To Balance b/d 63,000
Equipment a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
12/10/_5 To Cash a/c 15,000 30/10/_5
31/08/_5
By Cash a/c
By Balance c/d

2,000
13,000
tl 15,000 tl 15,000
01/09/_5 To Balance b/d 13,000
Goods/stock a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
13/10/_5
22/10/_5
To Bank a/c
To Cash a/c

20,000
25,000
14/10/_5
31/08/_5
By Bank a/c
By Balance c/d

15,000
30,000
tl 45,000 tl 45,000
01/09/_5 To Balance b/d 30,000
Rent a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
16/10/_5 To Bank a/c 5,000 31/08/_5 By Balance c/d 5,000
tl 5,000 tl 5,000
01/09/_5 To Balance b/d 5,000
Loan from Storm a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
31/08/_5 To Balance c/d 25,000 17/10/_5 By Cash a/c 25,000
tl 25,000 tl 25,000
01/09/_5 By Balance b/d 25,000
Commission a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
31/08/_5 To Balance c/d 5,000 18/10/_5 By Bank a/c 5,000
tl 5,000 tl 5,000
01/09/_5 By Balance b/d 5,000
Wages a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
19/10/_5 To Cash a/c 15,000 31/08/_5 By Balance c/d 15,000
tl 15,000 tl 15,000
01/09/_5 To Balance b/d 15,000
Drawings a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
20/10/_5 To Bank a/c 3,000 31/08/_5 By Balance c/d 3,000
tl 3,000 tl 3,000
01/09/_5 To Balance b/d 3,000
Interest a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
24/10/_5 To Bank a/c 2,000 31/08/_5 By Balance c/d 2,000
tl 2,000 tl 2,000
01/09/_5 To Balance b/d 2,000
Loan to Mr. Wind a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
25/10/_5 To Cash a/c 10,000 31/08/_5 By Balance c/d 10,000
tl 10,000 tl 10,000
01/09/_5 To Balance b/d 10,000
Loan from Strom a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
26/10/_5 To Cash a/c 15,000 31/08/_5 By Balance c/d 15,000
tl 15,000 tl 15,000
01/09/_5 To Balance b/d 15,000
Salary a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
27/10/_5 To Cash a/c 5,000 31/08/_5 By Balance c/d 5,000
tl 5,000 tl 5,000
01/09/_5 To Balance b/d 5,000
Postage a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
28/10/_5 To Cash a/c 1,000 31/08/_5 By Balance c/d 1,000
tl 1,000 tl 1,000
01/09/_5 To Balance b/d 1,000
Loan to Mr. wind a/c
Dr Cr
Date Particulars J/F Amount Date Particulars J/F Amount
31/08/_5 To Balance c/d 3,000 29/10/_5 By Bank a/c 3,000
tl 3,000 tl 3,000
01/09/_5 By Balance b/d 3,000