Page 90 - DMGT104_FINANCIAL_ACCOUNTING

Financial Accounting

Notes July 9 Paid for stationery 250
July 10 Drawn cash for private use 1,250
July 11 Purchased cloth on credit from Manish 12,500
July 12 Sent cheque to Manish (in full settlement for July 1 transactions) 9,750
July 13 Sold cloth on credit to Girijesh 9,000

July 14 Paid telephone charges 400
July 15 Cash Sales 1,500
July 18 Paid for Advertisement 1,750
July 19 Cash Purchases 3,000
July 30 Paid Salaries for July 4,000

9. Prepare the account of X & Co. from the following:
2006 ( )
Feb 1 Balance due from X & Co. 1,000
Feb 3 Cash sales to X & Co. 700
Feb 4 Bought furniture from X & Co. 250
Feb 6 Murthy returned goods to us 200

Feb 9 X & Co. Purchased goods from us 1,200
Feb 10 Return of goods from X & Co. 150
Feb 20 X & Co. settled his account by cheque and received discount 20
10. Journalize the following transactions in the Books of Ranga Rao with Narration.
2006 ( )

June 1 Ram commenced business with cash 10,000
June 2 Paid to Bank 8,000
June 3 Bought goods for cash 500
June 4 Bought Furniture for office 400
June 10 Withdrew from Bank cash for office 1,000
June 13 Goods sold to Shyam 600

June 15 Bought goods of Krishan 410
June 18 Trade Expenses paid 100
June 19 Received cash from Shyam 590
Allowed him discount 10

June 25 Wages paid 50
June 28 Krishan paid off in full settlement of his account 400
June 30 Rent paid 100
June 30 Interest on capital 500

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