BOOKEEPING AND ACCOUNTS

Book Keeping and Accounts

Book Keeping and Accounts

Case No. 1: Mr. Singh

General Journal Entries

Date

Particulars

Debit

Credit

30 - Sep

Cash

1600

Capital

1600

1 - Oct

Rent Expense

150

Cash

150

2 - Oct

Purchase (XYZ Meat Factory)

780

Accounts Payable (XYZ Meat Factory)

780

3 - Oct

Cash

49

Sales

49

4 - Oct

Purchases (Feather Farm)

200

Accounts Payable (Feather Farm)

200

5 - Oct

Account Receivable (Highlands Hotel)

120

Sales (Highlands Hotel)

120

6 - Oct

Accounts Payable (Feather Farm)

20

Purchase Return (Feather Farm)

20

8 - Oct

Bank

1000

Cash

1000

10 - Oct

Sales Return (Highlands Hotel)

24

Accounts Receivable (Highlands Hotel)

24

12 - Oct

Cash

88

Sales

88

15 - Oct

Salary Expense

50

Cash

50

16 - Oct

Accounts Payable (XYZ Meat Factory)

780

Purchase Discount (XYZ Meat Factory)

78

Bank

702

17 - Oct

Accounts Receivable (Nippy Cafe)

140

Sales

140

20 - Oct

Purchases Shop counter

75

Bank

75

24 - Oct

Sales Discount (Nippy Cafe)

7

Cash

133

Accounts Receivable (Nippy Cafe)

140

26 - Oct

Bank

600

Cash

600

28 - Oct

Purchases (Weighing Scales)

48

Cash

48

30 - Oct

Cash

100

Bank

100

31 - Oct

Salary Expense

60

Cash

60

Sales Bok

Date

Particulars

Amount

3 - Oct

Cash

49

5 - Oct

Accounts Receivable (Highlands Hotel)

120

17 - Oct

Accounts Receivable (Nippy Cafe)

140

1 - Nov

309

Purchases Book

Date

Particulars

Amount

2 - Oct

Purchase (XYZ Meat Factory)

780

4 - Oct

Purchases (Feather Farm)

200

28 - Oct

Purchases (Weighing Scales)

48

20 - Oct

Purchases Shop counter

75

1 - Nov

1103

Return Inward Book

Date

Particulars

Amount

10 - Oct

Sales Return (Highlands Hotel)

24

24 - Oct

Sales Discount (Nippy Cafe)

7

1 - Nov

31

Return Outward Book

Date

Particulars

Amount

6 - Oct

Purchase Return (Feather Farm)

20

16 - Oct

Purchase Discount (XYZ Meat Factory)

78

1-Nov

98

Ledger Accounts

Cash Book

Debit

Credit

Date

Particulars

Amount

Date

Particulars

Amount

30 - Sep

balance

1600

1 - Oct

Rent Expense

150

3 - Oct

Sales

49

8 - Oct

Cash

1000

12 - Oct

Sales

88

15 - Oct

Salary Expense

50

24 - Oct

Accounts Receivable (Nippy Cafe)

133

26 - Oct

Bank

600

30 - Oct

Bank

100

28 - Oct

Purchases (Weighing Scales)

48

31 - Oct

Salary Expense

60

31 - Oct

Bal c/d

62

1970

1970

1 - Nov

Bal b/d

62

Rent Expense

Debit

Credit

Date

Particulars

Amount

Date

Particulars

Amount

1 - Oct

Cash

150

Purchases

Debit

Credit

Date

Particulars

Amount

Date

Particulars

Amount

2 - Oct

Purchase (XYZ Meat Factory)

780

4 - Oct

Purchases (Feather Farm)

200

28 - Oct

Purchases (Weighing Scales)

48

20 - Oct

Purchases Shop counter

75

31 - Oct

Bal c/d

1103

1 - Nov

Bal b/d

1103

Accounts Payable

Debit

Credit

Date

Particulars

Amount

Date

Particulars

Amount

2 - Oct

Purchase (XYZ Meat Factory)

780

6 - Oct

Purchase Return (Feather Farm)

20

4 - Oct

Purchases (Feather Farm)

200

16 - Oct

Accounts Payable (XYZ Meat Factory)

780

31 - Oct

bal c/d

180

980

980

1 - Nov

bal b/d

180

Sales

Debit

Credit

Date

Particulars

Amount

Date

Particulars

Amount

3 - Oct

Cash

49

5 - Oct

Accounts Receivable (Highlands Hotel)

120

12 - Oct

Cash

88

17 - Oct

Accounts Receivable (Nippy Cafe)

140

31 - Oct

bal c/d

397

1 - Nov

bal b/d

397

Accounts Receivable

Debit

Credit

Date

Particulars

Amount

Date

Particulars

Amount

10 - Oct

Sales Return (Highlands Hotel)

24

5 - Oct

Sales (Highlands Hotel)

311

24 - Oct

Accounts Receivable (Nippy Cafe)

140

17 - Oct

Accounts Receivable (Nippy Cafe)

140

31 - Oct

bal c/d

287

451

451

1 - Nov

bal b/d

287

Sales Return

Debit

Credit

Date

Particulars

Amount

Date

Particulars

Amount

10 - Oct

Sales Return (Highlands Hotel)

24

24 - Oct

Sales Discount (Nippy Cafe)

7

31 - Oct

Bal c/d

31

1 - Nov

Bal b/d

31

Capital

Debit

Credit

Date

Particulars

Amount

Date

Particulars

Amount

30 - Sep

balance

1600

31 - Oct

Bal c/d

1600

1 - Nov

Bal b/d

1600

Purchase Return

Debit

Credit

Date

Particulars

Amount

Date

Particulars

Amount

6 - Oct

Purchase Return (Feather Farm)

20

16 - Oct

Purchase Discount (XYZ Meat Factory)

78

31 - Oct

Bal c/d

98

1 - Nov

Bal b/d

98

Salary Expense

Debit

Credit

Date

Particulars

Amount

Date

Particulars

Amount

15 - Oct

Salary Expense

50

31 - Oct

Salary Expense

60

31 - Oct

Bal c/d

110

1 - Nov

Bal b/d

110

Trial Balance

Ledger Account

Debit Balance

Credit Balance

Cash Balance

1970

Rent Expense

150

Purchases

1103

Accounts Payable

980

Sales

397

Accounts Receivable

451

Sales Return

31

Purchase Return

98

Salary Expense

110

Capital

1600

3445

3445

Trial balance in accounting is a list of accounts to a specific date as each book of the expense of two columns, one for the discount and the second of credit and within the system to enter the double must be a total of debit balances in any transaction equal to the total appropriations, bringing the debtor side in the trial balance is always equal to the sum of the creditor. Thus, the trial balances as a tool to detect errors that can lead to unequal groups (Pyle and Kermit, 1999, 20-96). Where the representation of funds is usually negative in this case, the total trial balance should be 0. With the balance of this review does not guarantee the absence of any errors, ...