Page 32 - DMGT403_ACCOUNTING_FOR_MANAGERS

Unit 2: Recording of Transactions

(ii) Jan 2, 2010 Goods purchased 10,000 Notes

Jan 2, 2010 Purchase A/c Dr 10,000
To Cash A/c 10,000
Being cash purchase is made
(iii) Jan 5, 2010 Goods sold 5,000

Jan 5, 2010 CashA/c Dr 5,000
To Sale A/c 5,000
Being cash sale is made
(iv) Jan 10, 2010 Goods purchased from Mittal & Co 10,000

Jan 10, 2010 Purchase A/c Dr 10,000
To Mittal A/c 10,000
Being credit purchase from Mittal

(v) Jan 11, 2010 Goods sold to Ganesh & co 10,000

Jan 11, 2010 Ganesh A/c Dr 10,000
To SaleA/c 10,000
Being credit sale made to Ganesh

(vi) Jan 12, 2010 Goods returned to Mittal & Co 1,500

Jan 12, 2010 Mittal &Co A/c Dr 1,500
To Purchase Return A/c 1,500
(Being the goods returned to supplier Mittal &Co)

(vii) Jan 20, 2010 Goods returned from Ganesh 2,000

Jan 20, 2010 Sales ReturnA/c Dr 2,000
To Ganesh&co 2,000
Being sales return made by Ganesh &Co

(viii) Jan 31, 2010 Office Rent paid 500

Jan 31, 2010 Office Rent A/c Dr 500
To Cash A/c 500
Being office rent paid

LOVELY PROFESSIONAL UNIVERSITY 27