Page 108 - DCOM101_FINANCIAL_ACCOUNTING_I

Financial Accounting-I

Notes Jan. 14 By Cartage 8.00 – – 8.00 –
Jan. 18 By Travelling 7.00 – – 7.00 6.00
Jan. 27 By Tea for guest 6.00 – – – 12.00
Jan. 29 By office cleaning charges 12.00 – – – –

Jan. 30 By Carriage 4.00 – – – –
Jan. 31 By Telegram 8.00 8.00 – 4.00
65.00 23.00 5.00 19.00 18.00
By Balance c/d 35.00
Total 100.00
100.00 Feb. 1
35.00 Feb. 1
65.00 To Balance b/d
100.00 To Cash

Case Study
Record the following transactions into various Subsidiary Books and Journal Proper of Mr.
Shiv Kumar:
2008
January 1 Cash in hand `31,400, Cash at Bank `50,800 and Capital Account `82,200.
January 2 Bought goods for cash `8,200.
January 5 Purchased goods from Lalit Mohan & Co. for `11,600 less 10% trade
discount.
January 7 Sold goods to Shobhit & Co. for `17,800 less 20% trade discount.
January 9 Withdrew `1,000 from bank for private use.
January 12 Sold goods to Karim for `12,800.

January 15 `10,000 paid to Lalit Mohan in full settlement of their claim.
January 18 Goods worth `800 returned by Karim.
January 20 Received `8,000 from Karim
January 21 Purchased goods from Krishna & Co. for `17,400.
January 23 `12,000 paid to Krishna & Co. by cheque, discount allowed `600.
January 24 Purchased furniture for `1,600 from Sardar Furniture House on credit.
January 26 Paid into bank `4,400.
January 28 Karim declared insolvent, a fi rst and final dividend of 50 paise in a rupee is

received from him.
January 29 Goods worth `1,200 returned to Krishna & Co.
January 31 Interest on capital provided ` 822.
January 31 Goods worth `800 taken by Mr. Shiv Kumar for his personal use.
January 31 Paid salaries to staff `3,600.
January 31 Paid into bank `40,000.
January 31 Bought 200 shares in Dehradun Chemicals Ltd. at `11, per share Brokerage
paid `50.
January 31 Received `11,800 from Shobhit & Co. discount allowed `200.

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