<div class="accounting-problem"> Write the opening entry as on 1<sup>st... | Accountancy

Q1.

Write the opening entry as on 1^st Jan 2018 from the following:

Total Assets of the firm is ₹1,00,000

Total of Liabilities of the firm is ₹20,000.

Q2.

Write the opening entry on 1^st Jan 2019 in the books of Karthik from the following Assets and Liabilities:

Item Amount (₹)

Cash in hand 4,000

Furniture 15,000

Bank overdraft 6,000

Sundry Debtors 21,000

Stock 10,000

Bills Payable 4,000

Machinery 16,000

Bank 12,000

Bills receivable 14,000

Sundry Creditors 10,000

Trade Marks 8,000

Cash 10,000

Item	Amount (₹)
Cash in hand	4,000
Furniture	15,000
Bank overdraft	6,000
Sundry Debtors	21,000
Stock	10,000
Bills Payable	4,000
Machinery	16,000
Bank	12,000
Bills receivable	14,000
Sundry Creditors	10,000
Trade Marks	8,000
Cash	10,000

Q3.

Record the opening entry on 1^st April 2019 from the following particulars:

Item Amount (₹)

Buildings 24,000

Patents 18,000

Fixtures & Fittings 6,000

Bills payable 4,000

Machinery 10,000

Creditors 4,000

Item	Amount (₹)
Buildings	24,000
Patents	18,000
Fixtures & Fittings	6,000
Bills payable	4,000
Machinery	10,000
Creditors	4,000

Q4.

Write opening Journal entry as on 1 Jan 2019 from the following:

Item Amount (₹)

Debtors 18,000

Furniture 10,000

Bank balance 20,000

Loan from Pavan 10,000

Bills payable 5,000

Land and buildings 12,000

Item	Amount (₹)
Debtors	18,000
Furniture	10,000
Bank balance	20,000
Loan from Pavan	10,000
Bills payable	5,000
Land and buildings	12,000

Q5.

Write the opening Journal entry as on 1^st April 2019 from the following:

Item Amount (₹)

Debtors 16,000

Creditors 12,000

Bills receivable 8,500

Furniture 4,500

Bank overdraft 5,000

Business premises 30,000

Item	Amount (₹)
Debtors	16,000
Creditors	12,000
Bills receivable	8,500
Furniture	4,500
Bank overdraft	5,000
Business premises	30,000

Q6.

Write closing entries from the following Ledger balances of Balaji:

Item Amount (₹)

Opening Stock 60,000

Purchases 15,000

Carriage outwards 1,000

Wages 4,000

Required: Write the Closing Entries.

Item	Amount (₹)
Opening Stock	60,000
Purchases	15,000
Carriage outwards	1,000
Wages	4,000

Q7.

Record the closing entries from the Ledger balances of "Suhas" books:

Item Amount (₹)

Salaries 5,000

Discount allowed 2,000

Rent 1,000

Discount received 2,000

Interest received 2,000

Item	Amount (₹)
Salaries	5,000
Discount allowed	2,000
Rent	1,000
Discount received	2,000
Interest received	2,000

Q8.

Rectify the following entries dated on 31^st Mar, 2019:

Wages paid to accountant Mallesh ₹10,000, debited to his personal A/c.

Furniture sold ₹20,000, wrongly credited to Sales A/c.

Q9.

Rectify the following entries dated on 31^st Mar, 2019:

Wages paid to accountant Mallesh ₹10,000, debited to his personal A/c.

Furniture sold ₹20,000, wrongly credited to Sales A/c.

Q10.

Pass adjustment Journal entries for the following:

Accrued Interest ₹200.

Provide depreciation @5% on Furniture, value of Furniture is ₹8,000.

Q1.

Record the following transactions in the purchases book (2019, March):

Date Transaction Details Amount (₹)

Mar $1^{\text{st}}$ Purchased goods from Anil 2,000

Mar $3^{\text{rd}}$ Bought goods from Raju 4,000

Mar $7^{\text{th}}$ Purchased goods from Srikanth (Trade discount 10%) 5,000

Mar $13^{\text{th}}$ Goods purchased from Venkat 1,600

Mar $18^{\text{th}}$ Purchased goods from Mahesh 1,400

Mar $24^{\text{th}}$ Purchases 3,000

Mar $26^{\text{th}}$ Purchased goods from Ashok 2,500

Required: Record the transactions in the **Purchases Book**.

Date	Transaction Details	Amount (₹)
Mar $1^{\text{st}}$	Purchased goods from Anil	2,000
Mar $3^{\text{rd}}$	Bought goods from Raju	4,000
Mar $7^{\text{th}}$	Purchased goods from Srikanth (Trade discount 10%)	5,000
Mar $13^{\text{th}}$	Goods purchased from Venkat	1,600
Mar $18^{\text{th}}$	Purchased goods from Mahesh	1,400
Mar $24^{\text{th}}$	Purchases	3,000
Mar $26^{\text{th}}$	Purchased goods from Ashok	2,500

Q2.

Prepare purchases book from the following (2018, April):

Date (Apr) Transaction Details Amount (₹)

$1^{\text{st}}$ Purchased goods from Shekar 4,000

$4^{\text{th}}$ Cash Purchases 2,000

$8^{\text{th}}$ Bought goods from Shyam (Trade discount 5%) 8,000

$12^{\text{th}}$ Goods purchased from Karthik 2,400

$18^{\text{th}}$ Purchased goods from Naresh 3,000

$25^{\text{th}}$ Purchased furniture from Aakash 6,000

Required: Prepare the **Purchases Book**.

Date (Apr)	Transaction Details	Amount (₹)
$1^{\text{st}}$	Purchased goods from Shekar	4,000
$4^{\text{th}}$	Cash Purchases	2,000
$8^{\text{th}}$	Bought goods from Shyam (Trade discount 5%)	8,000
$12^{\text{th}}$	Goods purchased from Karthik	2,400
$18^{\text{th}}$	Purchased goods from Naresh	3,000
$25^{\text{th}}$	Purchased furniture from Aakash	6,000

Q3.

Prepare purchases Book (2018, Dec):

Date (Dec) Transaction Details Amount (₹)

$1^{\text{st}}$ Purchased goods from Pallavi 4,200

$5^{\text{th}}$ Goods purchased from Teja 8,000

$10^{\text{th}}$ Bought goods from Vedhagni 3,800

$14^{\text{th}}$ Purchased goods from Sudha (Trade discount ₹600) 6,000

$18^{\text{th}}$ Purchased goods from Ramya 2,000

Required: Prepare the **Purchases Book**.

Date (Dec)	Transaction Details	Amount (₹)
$1^{\text{st}}$	Purchased goods from Pallavi	4,200
$5^{\text{th}}$	Goods purchased from Teja	8,000
$10^{\text{th}}$	Bought goods from Vedhagni	3,800
$14^{\text{th}}$	Purchased goods from Sudha (Trade discount ₹600)	6,000
$18^{\text{th}}$	Purchased goods from Ramya	2,000

Q4.

Enter the following transactions in the purchases book (2018, Nov):

Date (Nov) Transaction Details Invoice No. Amount (₹)

$1^{\text{st}}$ Goods purchased from Chaitanya 250 5,000

$12^{\text{th}}$ Goods purchased from Ravi on Credit 300 1,000

$18^{\text{th}}$ Purchased goods from Sathish 105 3,000

$23^{\text{rd}}$ Purchased goods from Pavan for cash 410 2,500

Required: Enter the transactions in the **Purchases Book**.

Date (Nov)	Transaction Details	Invoice No.	Amount (₹)
$1^{\text{st}}$	Goods purchased from Chaitanya	250	5,000
$12^{\text{th}}$	Goods purchased from Ravi on Credit	300	1,000
$18^{\text{th}}$	Purchased goods from Sathish	105	3,000
$23^{\text{rd}}$	Purchased goods from Pavan for cash	410	2,500

Q5.

Enter the following transactions in purchases book and purchase returns book (2018, Aug):

Date (Aug) Transaction Details Amount (₹)

$1^{\text{st}}$ Purchased goods from Krishna 6,000

$4^{\text{th}}$ Goods purchased from Mallesh 3,500

$8^{\text{th}}$ Returned goods to Krishna 600

$13^{\text{th}}$ Bought goods from Naveen 2,000

$16^{\text{th}}$ Goods returned to Mallesh 400

$22^{\text{nd}}$ Purchased goods from Ravi 4,000

Required: Prepare the **Purchases Book** and the **Purchase Returns Book**.

Date (Aug)	Transaction Details	Amount (₹)
$1^{\text{st}}$	Purchased goods from Krishna	6,000
$4^{\text{th}}$	Goods purchased from Mallesh	3,500
$8^{\text{th}}$	Returned goods to Krishna	600
$13^{\text{th}}$	Bought goods from Naveen	2,000
$16^{\text{th}}$	Goods returned to Mallesh	400
$22^{\text{nd}}$	Purchased goods from Ravi	4,000

Q6.

Enter the following transactions in the proper subsidiary books (2018, June):

Date (June) Transaction Details Amount (₹)

$1^{\text{st}}$ Purchased goods from Arun 2,500

$3^{\text{rd}}$ Purchased goods from Prakash 7,000

$6^{\text{th}}$ Return outwards to Arun 800

$14^{\text{th}}$ Purchased goods from Nagaraj (Trade Discount 10%) 10,000

$19^{\text{th}}$ Goods purchased from Nikhil for Cash 4,000

$25^{\text{th}}$ Goods returned to Nagaraj 1,200

$28^{\text{th}}$ Bought goods from Vishal 1,500

Required: Enter the transactions in the proper subsidiary books (Purchases Book and Purchase Returns Book).

Date (June)	Transaction Details	Amount (₹)
$1^{\text{st}}$	Purchased goods from Arun	2,500
$3^{\text{rd}}$	Purchased goods from Prakash	7,000
$6^{\text{th}}$	Return outwards to Arun	800
$14^{\text{th}}$	Purchased goods from Nagaraj (Trade Discount 10%)	10,000
$19^{\text{th}}$	Goods purchased from Nikhil for Cash	4,000
$25^{\text{th}}$	Goods returned to Nagaraj	1,200
$28^{\text{th}}$	Bought goods from Vishal	1,500

Q7.

Enter the following transactions in the Sales book (2019, Feb):

Date (Feb) Transaction Details Amount (₹)

$1^{\text{st}}$ Sold goods to Sampath 2,250

$6^{\text{th}}$ Sold goods to Manohar 2,000

$10^{\text{th}}$ Cash Sales 1,800

$16^{\text{th}}$ Sold goods to Murali (Trade Discount 5%) 5,000

$20^{\text{th}}$ Goods sold to Shanker on Credit 2,500

Required: Enter the transactions in the **Sales Book**.

Date (Feb)	Transaction Details	Amount (₹)
$1^{\text{st}}$	Sold goods to Sampath	2,250
$6^{\text{th}}$	Sold goods to Manohar	2,000
$10^{\text{th}}$	Cash Sales	1,800
$16^{\text{th}}$	Sold goods to Murali (Trade Discount 5%)	5,000
$20^{\text{th}}$	Goods sold to Shanker on Credit	2,500

Q8.

Prepare sales book from the following particulars (2018, May):

Date (May) Transaction Details Amount (₹)

$1^{\text{st}}$ Sold goods to Kiran 10,000

$8^{\text{th}}$ Sold goods to Kalyan (Trade Discount 10%) 6,000

$12^{\text{th}}$ Goods sold to Sanjeev for Cash 3,000

$18^{\text{th}}$ Sold goods to Jeevan 4,600

$24^{\text{th}}$ Sold old Machinery to Sandeep 2,500

$26^{\text{th}}$ Goods sold to Vasu 8,000

Required: Prepare the **Sales Book**.

Date (May)	Transaction Details	Amount (₹)
$1^{\text{st}}$	Sold goods to Kiran	10,000
$8^{\text{th}}$	Sold goods to Kalyan (Trade Discount 10%)	6,000
$12^{\text{th}}$	Goods sold to Sanjeev for Cash	3,000
$18^{\text{th}}$	Sold goods to Jeevan	4,600
$24^{\text{th}}$	Sold old Machinery to Sandeep	2,500
$26^{\text{th}}$	Goods sold to Vasu	8,000

Q9.

Prepare the Sales Book (2018, July):

Date (July) Transaction Details Invoice No. Amount (₹)

$1^{\text{st}}$ Sold goods to Nikhil 410 7,500

$3^{\text{rd}}$ Sold goods to Ruthwik on credit 101 5,500

$12^{\text{th}}$ Goods sold to Jairam (Trade discount 10%) 370 4,000

$18^{\text{th}}$ Sold goods to Sharma for Cash (N/A) 8,000

$24^{\text{th}}$ Goods sold to Arun 220 6,400

Required: Prepare the **Sales Book**.

Date (July)	Transaction Details	Invoice No.	Amount (₹)
$1^{\text{st}}$	Sold goods to Nikhil	410	7,500
$3^{\text{rd}}$	Sold goods to Ruthwik on credit	101	5,500
$12^{\text{th}}$	Goods sold to Jairam (Trade discount 10%)	370	4,000
$18^{\text{th}}$	Sold goods to Sharma for Cash	(N/A)	8,000
$24^{\text{th}}$	Goods sold to Arun	220	6,400

Q10.

Record the following transactions in Sales Book and Sales Returns Book (2018, Sep):

Date (Sep) Transaction Details Amount (₹)

$1^{\text{st}}$ Sold goods to Satyam 2,500

$5^{\text{th}}$ Sold goods to Ajay 7,200

$7^{\text{th}}$ Goods sold to Varun 2,800

$10^{\text{th}}$ Satya returned goods 300

$14^{\text{th}}$ Sold goods to Akhila 4,000

$16^{\text{th}}$ Returns inwards from Varun 200

$25^{\text{th}}$ Goods sold to Karthik for Cash 3,000

Required: Prepare the **Sales Book** and the **Sales Returns Book**.

Date (Sep)	Transaction Details	Amount (₹)
$1^{\text{st}}$	Sold goods to Satyam	2,500
$5^{\text{th}}$	Sold goods to Ajay	7,200
$7^{\text{th}}$	Goods sold to Varun	2,800
$10^{\text{th}}$	Satya returned goods	300
$14^{\text{th}}$	Sold goods to Akhila	4,000
$16^{\text{th}}$	Returns inwards from Varun	200
$25^{\text{th}}$	Goods sold to Karthik for Cash	3,000

Q11.

Prepare Sales Book and Sales Returns Book from the following Information (2017, May):

Date (May) Transaction Details Amount (₹)

$1^{\text{st}}$ Sold goods to Rahul 6,500

$3^{\text{rd}}$ Sold goods to Manish 6,000

$8^{\text{th}}$ Returned goods by Rahul 700

$11^{\text{th}}$ Sold goods to Raj Kumar 12,000

$14^{\text{th}}$ Sold goods to Bharath 11,000

$17^{\text{th}}$ Returned goods from Raj Kumar 2,000

$21^{\text{st}}$ Sold goods to Anand 9,000

Required: Prepare the **Sales Book** and the **Sales Returns Book**.

Date (May)	Transaction Details	Amount (₹)
$1^{\text{st}}$	Sold goods to Rahul	6,500
$3^{\text{rd}}$	Sold goods to Manish	6,000
$8^{\text{th}}$	Returned goods by Rahul	700
$11^{\text{th}}$	Sold goods to Raj Kumar	12,000
$14^{\text{th}}$	Sold goods to Bharath	11,000
$17^{\text{th}}$	Returned goods from Raj Kumar	2,000
$21^{\text{st}}$	Sold goods to Anand	9,000

Q12.

Record the following transactions in proper subsidiary books (2017, Oct):

Date (Oct) Transaction Details Amount (₹)

$1^{\text{st}}$ Sold goods to Archana 10,000

$4^{\text{th}}$ Goods purchased from Divya 6,000

$8^{\text{th}}$ Purchased goods from Manasvi 8,000

$10^{\text{th}}$ Goods returned by Archana 500

$14^{\text{th}}$ Goods sold to Shivani 3,000

$16^{\text{th}}$ Returned goods to Divya 300

$18^{\text{th}}$ Purchased goods from Madhuri 4,000

$20^{\text{th}}$ Shivani returned goods 200

$21^{\text{st}}$ Return outwards to Manasvi 400

$25^{\text{th}}$ Goods sold to Sharanya on Credit 7,000

Required: Record the transactions in the proper subsidiary books (**Purchases, Sales, Purchase Returns, and Sales Returns**).

Date (Oct)	Transaction Details	Amount (₹)
$1^{\text{st}}$	Sold goods to Archana	10,000
$4^{\text{th}}$	Goods purchased from Divya	6,000
$8^{\text{th}}$	Purchased goods from Manasvi	8,000
$10^{\text{th}}$	Goods returned by Archana	500
$14^{\text{th}}$	Goods sold to Shivani	3,000
$16^{\text{th}}$	Returned goods to Divya	300
$18^{\text{th}}$	Purchased goods from Madhuri	4,000
$20^{\text{th}}$	Shivani returned goods	200
$21^{\text{st}}$	Return outwards to Manasvi	400
$25^{\text{th}}$	Goods sold to Sharanya on Credit	7,000

Q13.

Prepare purchase book and post them in Ledger (2019, Mar):

Date (Mar) Transaction Details Amount (₹)

$l^{\text{st}}$ Goods purchased from Praveen 7,500

$4^{\text{th}}$ Purchased goods from Jagan 6,000

$8^{\text{th}}$ Purchased goods from Raju 4,000

$12^{\text{th}}$ Goods purchased from Ravi 5,500

$16^{\text{th}}$ Purchased furniture from Asish 2,000

$20^{\text{th}}$ Goods purchased from Shravan 7,000

Required: Prepare the **Purchases Book** and post the entries to the Ledger.

Date (Mar)	Transaction Details	Amount (₹)
$l^{\text{st}}$	Goods purchased from Praveen	7,500
$4^{\text{th}}$	Purchased goods from Jagan	6,000
$8^{\text{th}}$	Purchased goods from Raju	4,000
$12^{\text{th}}$	Goods purchased from Ravi	5,500
$16^{\text{th}}$	Purchased furniture from Asish	2,000
$20^{\text{th}}$	Goods purchased from Shravan	7,000

Q14.

Prepare Sales Book from the following transactions and prepare Ledger (2019, April):

Date (Apr) Transaction Details Amount (₹)

$1^{\text{st}}$ Goods sold to Damodhar 8,000

$3^{\text{rd}}$ Sold goods to Murthy 6,300

$8^{\text{th}}$ Sold goods to Balaji 5,000

$12^{\text{th}}$ Goods sold to Gambhir 2,000

$16^{\text{th}}$ Sold goods to Ashok 7,000

$18^{\text{th}}$ Sold old furniture to Kishore 5,000

$20^{\text{th}}$ Goods sold to Rao (Trade discount 10%) 8,000

Required: Prepare the **Sales Book** and the **Ledger Accounts**.

Preparation of Subsidiary Books