Final Accounts: Theory and Practice/Fully Solved: Class 11 Account Note

Final Accounts: Theory and Practice/Fully Solved: Class 11 Account Note

 

Final Accounts

the accounts which are prepared at end of the financial year are town as final accounts. final accounts show the true and fair financial position if a business organization.

 

final account consists

1. trading account
2. profit and loss account
3. balance sheet
4. Trading account: – it is the 1^st step of final accounts. the objectives of preparation the trading account is to ascertain the gross profit or gross loss of the organization.

Trading account for the year ended.

1. cr.

Particulars	Amount	Particulars	Amount
To, opening stock	xxx	By, sales xxx
To, purchase xxx		Less: sales sales return xxx
Less: purchase return/ return outward/ return to creditors	xxx	Less: return from customer xxx
		Less: return
To, wages	xxx	Inward xxx	xxx
To, wages and salary	xxx	By, closing stock	xxx
To, carriage	xxx	By, gross loss c/d	xxx
To, carriage on purchase	Xxx
To, freight and duty	xxx
To, custom duty	xxx
To, cleaning charger	xxx
To, coal, water, gas	xxx
To, power, motile power	xxx
To, factory rent |rates| taxes	xxx
To, factory cleaning	xxx
To, factory heating lighting	xxx
To, octopi charger	xxx
To, royalty on production	xxx
To, any factory expn–	xxx
To, gross profit c/d	xxx
	xxx

 

2. Profit and loss amount: the second stop of final accounts. it ascertain net profit or net loss during an revenue and expenses of an accounting period.

Particular	Amt	Particular	Amt
To, gross loss b/d.	xxx	By, gross profit b/d	xxx
To, salaries and wages	xxx	By, rent rec.	xxx
To, rent rates | taxes	xxx	By, dividend rec.	xxx
To, insurance premium	xxx	By, interest rec.	xxx
To, repair and, maintenance	xxx	By, sundry income	xxx
To, depreciation	xxx	By,  miscellaneous receipt	xxx
To, audit fee	xxx
To, bank charges	xxx	By, com. earned	xxx
To, legal expn–	xxx	By, profit on sale
To, discount allowed	xxx	Of fixed assets	xxx
To, carriage out	xxx	By, bad debt
To, carriage on sales	xxx	Recorded	xxx
To, commission	xxx	By, apprentice
To, travelling expn–	xxx	Premium	xxx
To, entertainment expn–	xxx	Preium	xxx
To, advertisement	xxx	By, net close c/d	xxx
To, bad debt	xxx
To, packing expn–	xxx
To, interest expn–	xxx
To, loss by fire |theft|	xxx
To, loss on sale of fixed	xxx		xxx
To, administrative expn–	xxx
To, saling expn–	xxx
To, trade expn–	xxx
To, commission	xxx
To, printing and stationary	xxx
To, sundry expn–	xxx
To, miscellaneous expn–	xxx
To, net profit c/d	xxx		xxx

 

3. balance sheet: balance sheet is a statements which shows the financial position of an organization. there are two sides of balance sheet one is can and liabilities and other is assets. total liabilities should be equal to the total assets.

classification of assets.

1. current assets: the assets which can be changed into cash within one year known as current eg, cash balance, bank balance, sundry debaters, bills receivable, inventory, stock, market able securities, assured income, advance expⁿ– etc.
2. fixed assets: the assets which are durable for long time are known as fixed assets eg. land, building, plant, machinery, equipment, furniture, vehicle etc.
3. intangible assets:- the assets which have no physical shape are known as intangible assets. eg goodwill, copyright, patent right , trade mark, etc.

 

classification of liabilities

1. current liabilities: the liabilities which should make payments within a years are known as current liabilities eg sundry creditors, bills payable, outstanding, expn, short term loan, account payable, provision of taxation, proposed dividend, etc.
2. long term liabilities:- the liabilities which should make payment after one year are known as long term liabilities eg. bank loan, long term loan, mortgage loan , secured loan, bonds debenture etc.
3. permanent liabilities :- the liabilities which owed by owner known as permanent liabilities capital.

depreciation

model

1. journal
2. ledger
3. subsidiary book
4. cash book
5. BRS
6. depn

 

4. machinery account

 

Date	Particular	Jf	Amount	Date	Particulars	Jf	Amount
2000/01/01	To bank a/c		10000	2000/12/31	By depn a/c		2176
					By balance c/d		7824
			10000				10000
2001-01-01	To balance b/d		7824	2000-12-31	By depn a/c		1632
					By balance c/d		6192
			7824				7824
2002-01-01	To balance bld		6192	2002-12-31	By depn alc		1224
					By balance c/d		4968
			6192				6192
2003-01-01	To balance b/d		4968	2003-12-31	By depn a/c		918
					By balance c/d		4050
			4968				4968
2004-01-01	To balance b/d		4050

workings

annual depn=total cost-salvage value

working life

=10000-1296                                                                                                     4

=2176

Machinery account

Date	Particular	Jf	Amount	Date	Particulars	jf	amount
2006-04-01	To bank a/c		11500	2006-12-31	By depn alc		8625
					By, balance c/d		2875
			11500				11500
2007-01-01	To, balance b/d		2875	2007-12-31	By, depn– A/c		1150
					By, balance c/d		1725
			2875				2875
2008-01-01	To, balance b/d		1725	2008-12.31	By, depn– A/c		1150
					By, balance c/d		575
			1725				1725
2009-01-01	To, balance b/d		575

 

Working

2006-01-01 = 11500

depⁿ                   8625

2007-01-01 = 2875

depⁿ–                 1150

2008-01-01=1725

depⁿ–              1150

575

5. 5. Working

2006-01-01      11500

depⁿ–                      863

2007-01-01        10637

depⁿ–                       1150

2008-01-01         9487

depⁿ–                      1150

2009-01-01          8337

depⁿ–                      575

1. V. 7762
2. V. 6500

Loss                        1262

5. machinery A/c

Date	Particular	Jf	Amt.	Date	Particular	Jf	Amt.
2006-04-01	To, balance A/c [8000+3500]		11500	2006-12-31	By, depn– A/c		863
				2006-12-31	By, balance c/d		10637
			11500				11500
2007-01-01	To, balance b/d		10637	2007-12-31	By, depn– A/c		1150
				2007-13.31	By, balance c/d		9487
			10637				10637
2008-01-01	To, balance b/d		9487	2008-12.31	By, depn– A/c		1150
				2008-12.31	By, balance c/d		8337
			9487				9847
2009-01-01	To, balance b/d		8337	2009-6-31	By, depn– A/c		575
				2009-6-31	By, bank A/c		6500
					By, P/L A/c (loss on sale)		1262
			8337				8337

 

Date	Particular	Jf	Amt.	Date	Particular	Jf	Amt.
2002-01-01	To, bank A/c [40,000+2000+3000]		45000	2002-12.31	By, depn–  A/c		6750
				2002-12.31	By, balance c/d		38250
			45000				45000
2003-01-01	To, balance b/d		38250	2003-12.31	By, depn-A/c		6750
				2003-12-31	By balance c/d		31500
			38250				38250
2004-01-01	To, balance b/d		31500	2004-12-31	By, depn-A/c		6750
				2004-12-31	By, balance c/d		24750
			31500				31500
				2004-12.31	By bank A/c		14000
					By, P/L A/c		10750
					(loss on sale)
2005-1-1	To, bank A/c		60000	2005-12.31	By, depn– A/c		9000
				2005-12.31	By, balance c/d		51000
			60000				60000
2006-01-01	To, balance b/d		51000	2006-12.31	By, depn– A/c		9000
				2006-12-31	By, balance c/d		42000
2007-01-01	To balance b/d		42000

 

Working

2002-01-01                   45000

depⁿ–                              6750

2003-01-01                   38250

depⁿ–                              6750

2004-01-01                   31500

depⁿ–                              6750

2005-01-01          24750 <-   B. V.

1. S. 14000

Loss 10750

 

machinery A/c

Date	Particular	Jf	Amt	Date	Particulars	Jf	Amt.
2000-1-1	To, bank A/c		10000	2000-12.31	By, depn– A/c		4000
				2000-12.31	By, balance c/d		6000
			10,000				10000
2001-01-01	To, balance b/d		6000	2001-12-31	By, depn– A/c		2400
				2001-12-31	By, balance c/d		3600
			6000				6000
2002-01-01	To, balance b/d		3600	2002-12.31	By, depn– A/c		1440
				2002-12.31	By, balance c/d		2160
			3600				3600
2003-01-01	To, balance b/d		2160	2003-12.31	By, balance c/d		1296
			2160				2160
2004-01-01	To, balance b/d		1296

 

R = 1 =

= 1- 4

= 1- 4

= 1-

= 1 – 6/10

= 10-6/10

= 40%

machinery A/c

Date	Particular	Jf	Amt	Date	Particular	Jf	Amt
2066-1-1	To, bank A/c		50,000	2066-12.31	By, depn– A/c		5000
				2066-12.31	By, balance c/d		45000
			50000				50000
2067-07-1	To, balance b/d		45000	2067-12.31	By, depn– A/c [4500+500]		5000
2067-07-01	To, bank A/c		10,000		By, balance c/d		50000
			55000				55000
2068-01-01	To, balance b/d		50000	2068-12.31	By, depn– A/c		5200
					By balance c/d		46800
			52000				52000
2069-01-01	To, balance b/d		46800	2069-6-31	By, bank A/c		5000

 

 

 

1-1-2066                                 50000

depn_–                                                            5000

2067-01-01                             45000

depn_–                                                            2250

2068-01-01                             42750

depn_–                                                            4275

2069629-01-01                      38475

depn_–                                                            962

1. V. 37513
2. S. 5000

Working

part 1.

2066-1-1               40000       10000                          part 2.

2066-12-31          (4000)       (1000)                  2067-7-1   10000

2067-1-1               36000       9000                     2067-12-31   (500)

2067-12.31          (3600)       (900)                    2068-01-01   9500

2068-01-01          32400       8100                     2068-12-31   (950)

depn_–                                (3240)       (810)                    2069-01-01   8550

2069-01-01               29160       7290                     2069-01-01    (855)

2069-6-30                               (325)                    2070-01-01     7695

2069-12.31         (2916)        6925 B. V.

26244 C.V. <- Sp. = 5000

loss: 1925

machinery A/c

Date	Particular	j.f	Amt.	Date	Particular	Jf	Amt
2066-01-01	To, bank A/c		50000	2066-12-31	By, depn–  A/c		5000
					By, balance c/d		45000
			50000				50000
2067-01-01	To, balance b/d		45000	2067-12.31	By, depn A/c		4500
2067-7-1	To, bank A/c		10000	2067-12.31	By, depn A/c		500
					By, balance c/d		50000
			55000				55000
2068-1-1	To, balance b/d		50,000	2068-12-31	By, depn A/c		4050
				2068-12-31	By, depn A/c		950
					By, balance c/d		45000
			50000				5000
2069-1-1	To, balance b/d		45000	2069-6-30	By, bank A/c		5000
				2069-6-30	By, depn A/c		365
					By, P/L A/c (loss)		1925
				2069-12-31	By depn A/c		2916
							855
2070-1-1	To, balance b/d		33939

 

 

Working

2006-1-1                  140000           160000

2006-12.31              (14000)           (16000)

2007-1-1                  126000           144000

(14000)           (16000)

2008-8-1                  112000           128000

2007-7-1                                           (8000)

2008-12-31              (14000)           120000 -> B. V.

B/c->                         98000              132000 -> C. S

profit -> 12000

XYZ transportation company vehicle account [straight line method]

Date	Particular	Jf	Amt	Date	Particular	Jf	Amt.
2006-101	To, bank A/c		140000	2006-12.31	By, depnA/c		30000
2006-1-1	To, bank A/c		160000		By, balance c/d		270000
			300000				300000
2007-1-1	To, balance b/d		270000	2007-1-1	By, depn A/c		30000
					By, balance c/d		240000
			270000				270000
2008-1-1	To balance b/d		240000	2008-7-1	By, bank A/c		132000
					By, depn A/c		8000
2008-7-1	To, P/L A/c (profit)		12000	2008-12-31	By, depn A/c		14000
					By, balance c/d		98000
			252000				252000
2009-1-1	To, balance b/d		98000

 

XYZ transportation company vehicle acc. [diminishing method]

 

Date	Particulars	Jf	Amt	Date	Particular	Jf	Amt
2006-1-1	To, bank A/c [140000+160000]		300000	2006-12.31	By, depn |A/c		30000
					By, balance c/d		270000
			300000				300000
2007-1-1	To, balance b/d		270000	2007-12-31	By, depn A/c		27000
					By, balance c/d		243000
			270000				270000
2008-1-1	To, balance b/d		243000	2008-7-1	By, bank A/c		132000
2008-7-1	To P/L A/c (profit)		8880	2008-12-31	By, depn A/c		6480
				2008-12-31	By, depn A/c		11340
					By, balance c/d		102060
			251880				251880
2009-1-1	To, balance b/d		102060

 

Working – diminishing

2006-1-1                       1440000                              100000

(14000)                    (16000)

2007-1-1                       126000                                    144000

(12600)                                   (14400)

2008-1-1                             113400                                  129600

 

2008-7-1                                                                                   (6480)

123120 ->B. V.

2008-12-31                          (11340)                                                                                                      132000 C. V.

102060                                                                                                        profit: 8880

 

18. from the following information you are required to prepare machinery account for four different years starting from 1^st January 2006.
19. the book value of the machine was Rs. 40,000 on 1^st jan. 2006.
20. a new machine had been purchased on 1^st july 2006 for Rs. 15000.
21. on 31^st dec. 2007 the 1^st machine become useless and sold for Rs. 30000.
22. on 1^st jan. 2008 a new automatic machine was purchased for Rs. 40,000.
23. the account are closed on 31^st dec. each year and company chargers depreciation @ 10% P. a on reducing balance method.

ans.: 42788

P/L: 2400

working

1. machinery (1) machinery (2)

• machinery (2)

1. machinery (3)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Date	Particular	Jf	Amt	Date	Particulars	Jf	Amt
2006-1-1	To, balance b/d		40000	2006-12.31	By, depn A/c		4750
2006-7-1	To, bank A/c		15000	2006-12.31	By, balance c/d		50250
			55000				55000
2007-1-1	To, balance b/d		50250	2007-12.31	By, depn A/c		5025
				2007-12.31	By, bank A/c		30000
					By, loss sale		2400
					By, balance c/d		12825
			50250				50250
2008-1-1	To, balance b/d		12825	2008-12.31	By, depn A/c (4000+1283)		5283
2008-1-1	To, bank A/c		40000		By, balance c/d		47542
			52825				52825
2009-1-1	To, balance b/d		47542	2009-12.31	By, depn A/c (1154+3600)		4754
					By, balance c/d		42788
			47542				47542
2010-1-1	To, balance b/d		42788

 

 

 

 

 

 

Accounting equation

s. n.	Particulars	Assets	=	Capital	+	Liability
i.	Business started with	Cash: 70000		300000
ii.	Cash and furniture	Fur: 100000				Nill
iii.	Beginning equation	300000		300000
iv.	Goods purchase	(100000)
v.		Goods: 100000
vi.	New equation	300000		300000		Nill
vii.	Goods sold	40000
viii.		Goods: (40000)
ix.	New equation	300000		300000		Nill
x.	Purchase furniture	Cash: (50000)
xi.		Fur.: 50000
xii.	New equation	300000		300000		Nill
xiii.	Sold furniture	20000
xiv.		Fur. (20000)
xv.	New equation	300000		300000		nill

 

 

 

 

 

1.

1. the following transaction are given to you.
2. raj started business with cash Rs. 200000 and furniture Rs. 100000
3. purchase goods on cash for Rs. 100000
4. sold goods on cash Rs. 400000
5. purchase furniture on cash Rs. 50,000
6. sold furniture on cash Rs. 20,000

cash

cash deposit (-)

cash withdraw (cash(+))

rent paid, wages paid, etc. …. capital df c;/

profit loss -> capital df

1. 2
2. business started with cash Rs. 10000 bank Rs. 5000 and furniture Rs. 10000
3. purchase goods on cash Rs. 40000
4. purchase goods on credit Rs. 20000
5. purchase goods worth Rs. 50,000 paid Rs. 25000 in cash and remaining on credit.
6. loan taken Rs. 80000
7. salary paid Rs. 30,000
8. deposited cash Rs. 5000 into the bank
9. Advance Rent Rs. 1000
10. sold goods to mohan for Rs. 5000 at loss Rs. 1000

s. n.	Particulars	Assets	=	Capital	+	Liability
1.	Business started with	Cash: 10000
	Cash, bank $ furniture	Bank: 5000		25000
		Fur. 10000
	Beginning equation	25000	=	25000		Nill
2	Purchase goods	Goods: 40000		–		–
		Cash: (40000)
	New equation	25000	=	25000	=	Nill
3	Purchase goods on credit	20,000				20000
	New equation	25000	=	25000	=	Nill
4	Purchase goods	50000				25000
		Cash: (25000)		25000
	New equation	7000		25000		45000
5	Loan taken	80000		–		80000
	New equation	150000		25000		125000
6	Salary paid	(30000)		(30000)		–
	New equation	120000		-5000		125000
7	Cash deposit	Cash (5000)		(500)		–
	New equation	115000		-1000		125000

 

 

 

rough

• cash deposited into bank Rs. 5000

bank A/c Dr.

to, cash A/c

 

1. cr.

date  particulars jf        C. B. D.       date particulars jf       C. B. D.

to, cash A/c       5000                     by, bank A/c                            5000

1. journal

date  P. if dr. amount

2. ledger

date P. jf amt date P. jf amt.

3. subsidiary book

 

SB/P.B date par. inv. no. if    detail amt            total amt.

S.A/P.A date par. jf amt. date par jf amt

P.R.B. date par.  debit note no. if det. amt      total amt

S.R.B. date par. credit note no. if det. amt      total amt

pur. -> to, sundries sales by jundries

1. r -> by, sundries sale R. to, sundrise

BRs.

Par.                               amt.       amt.

depn

date par. jf. amt. date par. jf. amt.

to,                         by,

single column cash book

simple cash book

date par. if cash date par.  if cash

simple bank book

date par. if bank  date par. if bank

double column

date par. if. cash bank date par. if. cash bank

date par. if cash disc. date par. if cash disc.

date par. if bank disc. date par. if bank disc.

triple column

date par. i.f cash bank disc.  date par. if. cash bank disc.

Date	Particular	i.f	Dr. amt.	cr. amt.
Jan. 1. cash A/c Dr.			150000
Bank balance A/c Dr.			75000
To, capital A/c				225000
{being business started}
Jan. 3 machinery A/c Dr.			45000
To, cash A/c				45000
{being purchased machine $ less 10% T. D.}
Jan. 9 wages A/c Dr.			5000
Salary A/c Dr.			9000
{being wages $ machinery paid by cheque}
Jan. 13 ABC com. A/c Dr.			20000
To, mach. A/c				20000
Jan. 19 bank A/c Dr.			19500
Discount A/c Dr.			500
To, ABC com. A/c				20000
{cheque receive for full settlement}

 

Date	Particulars	If	Dr.  amount	Cr. amount
Jan. 25	Machinery A/c Dr.		25000
	To, discount A/c Dr.			2500
	To, bank A/c			22500
Jan. 29	Sarika enterprises A/c Dr.		23000
	To, sales a/c			23000
	{being good sold to enterprises}
JAN. 30	BANK A/c Dr.		20000
	To, cash A/c			20000
	{being cash deposited into bank}
Total			394500	394500

 

bank reconciliation statement.

cash book debited -> increase the balance of cash book.

cash book credited -> decrease the balance of C. B.

pass book credited -> increase the balance of P.b.

pass book credited ->  increase the balance of P. B.

notes: cash book and pass book are just opposite of each other.

overdraft and pass book -> same

pass book and overdraft are same

bank recons…. hare two sides

Our cash book and pass book _ bank

 

 

Examples

1. prepares bank reconciliation statement from the following.
2. bank balance as per pass book Rs. 1440.
3. interest credited by bank not recorded in cash book Rs. 160
4. amount directly deposited by customer not recorded in cash book Rs. 280.
5. bills receivable collected by bank but not recorded in cash book.
6. cheque deposited but not collected by 1120.
7. bank chargers but not recorded in cash book Rs. 130.

Particulars	Amount	Amount
Balance as per pass book		1440
Add:
Cheque deposited but not collected by bank	1120
Bank chargers but not recorded in cash book	130	1250
		2690
Less:
Interest credited by bank not recorded in cash book	160
Amount directly deposited by a customer not recorded in cash book	280
Bills receivable collected by bank not recorded in cash book	620	1060
Balance as per cash book		1630

cash book                    pass book

•                         + (-)
•      (+) (-)
•                            (+) (-)

(+)                       -(+)

(+)                       -(+)

 

journal and ledger

1. 1

Date	Particulars	If	Dr. amt.	Cr. amt.
1.	Bank A/c Dr.		200000
	To, capital A/c			200000
	{being business started}
2.	Furniture A/c Dr.		25000
	To, bank A/c			25000
	{being furniture purchased }
3.	Purchase A/c Dr.		200000
	To, creditor A/c			100000
	To, bank A/c			100000
4.	Creditor A/c Dr.		50000
	To, bank A/c			50000
	{ being paid credit amount by cheque}

 

 

Date	Particulars	Jf	Amount	Date	Particulars	Jf	Amount
1	TO, capital A/c		200000	2.	By, furniture A/c		25000
				3.	By, creditor A/c		50,000
				4.	By, purchase A/c		100000
				30.	By, b/c c/d		25000
	Total		200000		Total		200000
	To balance b/d		25000

 

furniture

by, bank             250000         by, purchase       100000

to, bank A/c         50000

SA 3.

Date	Particulars	If	Dr. amt.	Cr. amt
1.	Cash A/c Dr.		200000
	Furniture A/ c Dr.		25000
	To, capital A/c			225000
	{being business started}
2.	PURCHASE A/c Dr.		40000
	To, ram’s A/c			40000
3.	Shiva A/c Dr.		5000
	To, sales A/c			5000
4.	Ram’s A/c Dr.		40000
	TO, disc. A/c		4000
	To , cash A/c			36000
	Ram’s A/c

to, cash A/c       40000 by, purchase A/c  40000

Nill

 

 

Date	Particulars	If.	Dr.	Cr.
1.	Cash a/c dr.		50000
	To, capital A/c			50000
	(being business started)
2.	Purchase A/c Dr.		25000
	To cash A/c			25000
	(being cash purchase)
3.	Cash A/c Dr.		6000
	Gita A/c Dr.		10000
	To sales A/c			16000
4.	Cash A/c Dr.		4000
	Loan on sales A/c Dr.		1000
	To, plant A/c			5000
5.	Salary A/c Dr.		5000
	To, cash A/c			5000
6.	Cash A/c Dr.		9500
	Disc. A/c Dr.		500
	To, rita’s A/c			10000

to, sales A/c      10000           by, cash A/c         9500

by, disc. A/c         500

Nill

 

4. bank reconciliation statement

Particulars                                         amount                          amount

balance as per cash book                                                       75000

add

cheque issued and presented

for payment (9000-5000)              4000

-interest given but not recorded

in cash book                                     3500

-cheque issued and credited in     3000                                                                     15500

P.B. (12000-9000)                          5000                                                                     90500

less:

-cheque received but omitted to  15000

banked                                                                                                                            75500

 

1. R. S.
2. cash book shows a debit shows a debit balance of Rs. 75000 as on 31^st December 2014.
3. cheques Rs. 9000 issued during the month December out of which cheque of Rs. 5000 were presented for payment.
4. a cheques of Rs. 15000 received from muna but omitted to be banked.
5. interest given by bank but not recorded in cash book Rs. 3500.
6. cheques totaling Rs. 12000 deposited into bank out of which Rs. 9000 credited in pass book only.
7. debit side of cash book has been under cast Rs. 5000.

.^..required bank reconciliation statement

Particulars	Amt.	Amt.
Balance as per cash book		75000
Add:
-cheques issued and presented for payment (9000-5000)	4000
-interest given by bank not recorded in cash book	3500
Debit side of cash book has been under cast	5000	15500
		90500
Less:
Cheque received but omitted to be banked	15000
-balance as per pass book		75500

 

 

 

Date	Particulars	l.f	Cash	Bank	Disc.	Date	Particulars	l.f	Cash	Bank	Disc.
April	To, b/c b/d		20000	50000
April 2	To, mahaniery A/c		9500		500
April 5	To, cash A/c			10000		April 5	By, bank a/c	c	10000		C.B. =19000
						April 8	By, purchase A/c		5500	9000	B.B = 46000 500
April 9	Tom bank A/c		5000			April 9	By, purchase A/c	c		5000
						April 1-30	By, balance c/d		19000
						April 1-30	By bovee c/d			46000
			34500	60000	500				37500	60000	500

 

 

 

 

Date	Particulars	l.f	CASH	BANK	DISC.	DATE	PARTICULARS	I.F	CASH	BANK	DISC.
APRIL 1	TO, B/C B/D		20000	50000
APRIL 2.	TO, MACHINERY A/C		9500		500
APRIL 5	TO, CASH A/C	‘C’		10000		APRIL 5	BAY BANK A/C	‘C’	10000
						APRIL 8	BY, PURCHASE A/C		5500	9000	500
APRIL 9	TO, BANK A/C	‘C’	5000			APRIL 9	BY CASH A/C	‘C’		5000
						APRIL 30	BY, B/C C/D		19000
						APRIL 1-30	BY, B/C C/D			46000
			34500	60000	500				34500	60000	500
MAY 1	TO, B/C B/D		19000
May 1	To, b/c b/d			46000

 

 

 

 

 

 

 

Date

Particulars

l.f

Cash

Bank

Disc.

Date

particulars

l.f

cash

bank

Disc.

Poush 1

To, balance b/d

30000

1000 00

Poush 10

By, creditors a/c

2700

300

Poush 6

To, debaters a/c

14500

500

Poush 17

To, cash A/c

‘c’

5000

Poush 17

By, bank A/c

‘c’

5000

Poush 25

By, salary a/c

30000

Poush 28

By, rent A/c

10000

Magh 1

By, balance c/d

15000

30000

3000

Magh 1

By balance c/d

86800

119500

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Date	Particular	l.f	Cash	Bank	Disc.	Date	Particular	l.f	Cash	Bank	Disc.
July  1	To, balance b/d		29000	55000		7.3	By, sales A/c		7600		400
						7.8	By, furniture		5000	20000
7.13	To, cash A/c	‘c’		6000		7.13	By, balance A/c	‘c’	6000
						7.19	By, gopal A/c			4500	500
.730	To, muna A/c		1800		200	7.28	By, salary A/c		5000
						7.28	By, wages			3000
									7200
						8.1	By, b/c c/d		30800
			30800			8.1	By, b/c c/d			33500
				61000						61000

 

 

 

 

 

Answer these

1-> accounting involves the process of identifying, measuring, recording, classifying, summarizing, analyzing, interpreting and communication the economic information of an its users who are directly or indirectly related to the business organization.

2-> credit note is an acceptance letter or statement which is prepared by seller, mentioning, the quantity, rate and total amount of good which is created I debtors account

questions

following of munal furniture are given munal furniture.

poush. 5. purchased on created from Nepal furniture butal

15 tables @ Rs. 10000 each

25 chairs @ Rs. 5000 each

less 5% T. D.

push. 15. purchased from gopal on cash

30 sof a set @ Rs. 2500

push 22 purchased from smariti furniture kathamandu

25 drawers @ Rs. 7000 each

30 tables @ Rs. 5000 each

less 10% T. D. on tables only

required: purchase book.

 

munal furniture

Date	Particulars	Invo. no.	l.f	DETAIL AMT.	TOTALK AMOUNT
POUSH 5	NEPAL FURNITURE BUTAL 15 TABLES @ Rs. 10000 each
				15000
	25 chairs @ Rs. 5000 each			125000
	Less 5% T. D.			13750	261250
Poush  22	25 drawers @ 7000 each			175000
	30 tables @ Rs. 5000 each			150000
	Less 10% T. D. on table only			15000	310000
	Total				571250

 

questions jk

ashad 5 sold to ram stationary baglung.

30pcs. accounting @ Rs. 500 each

20 pcs. economics @ Rs. 400 each

256 pcs. nepali book @ Rs. 350 each

ashad 9 sold to nep[al book stores ktm.

25 business studies @ Rs. 200 each

30 pcs. markting @ Rs. 150 each

less 10% trade Discount on business studies

required: sales book.

sales book

Date	Particulars	Invo.no	l.f	Det. amt.	Total amount
Ashasd 5	Ram stationarise baglung
	30 pcs acc. @ 500 eacj			15000
	20 pcs eco @ Rs. 400			8000
	25 pcs nep. @ Rs. 350 each			8750	31750
Ashad  9	Nepal book store ktm.
	25 business studies @ 200  each			5000
	30 pcs. marketing @ Rs. 150 each
				4500
	Less T. D. on business			500	9000
	Total				40750

 

Date	Particulars	l. f	Dr.	Cr.
Jan. 25	Machinery A/c Dr.		25000
	To, dis. A/c			2500
	To, bank A/c			22500
	{being machinery purchased}
Jann. 29	Sarika enterprise A/c Dr.		23000
	To, sales A/c		{being good sold to sarika}
Jan. 30	Bank A/c DR.		20000
	To, cash  A/c			20000
	{being cash deposited into bank}
	Total		372000	372000