Comprehensive Problem and Solution of Subsidiary Books
Arjun EP
Comprehensive Problem and Solution
Here, Amount = Rs = $ = £ = € = ₹ = Af = ৳ = Nu = Rf = රු =
PROBLEM: 9
The following extracted information is given by SKN Traders:
|
June 2 June 3 June 6 June 8 June 11 June 12 June 15 June 16 June 22 June 25 June 28 |
Goods purchased from Viddhya Rs 7,000 on credit (invoice No. 221) Goods sold to Damodar on credit Rs 12,000 (invoice 151) Returned goods Rs 4,000 to Biddhya (debit note No. 441) Goods sold to Shankar on credit Rs 20,000 (invoice 152) Goods purchased from Salim Rs 12,000 on credit (invoice No. 222) Goods sold to Yogita for Rs 8,000 on credit to (invoice No. 153) Yogita returned goods worth Rs 2,000 (credit note No. 331) Goods purchased from Binay for Rs 16,000 on credit. (invoice No. 223) Goods sold to Sarita Rs 15,000 on credit. (invoice No. 154) Returned goods to Salim Rs 3,000. (debit note No. 442) Shankar returned goods worth Rs 1,500. (credit note No. 332) |
Required: All day books
[Answer: Total creditors = 35,000; Total debtors = 55,000;
Purchase return = 7,000; Sales return = 3,500]
SOLUTION:
Purchase Book
|
Date |
Particulars |
Invoice No. |
LF |
Amount |
|
June 2 June 11 June 16 |
Purchased form Viddhya Purchased form Salim Purchased form Binay |
221 222 223 |
|
7,000 12,000 16,000 |
|
|
Total creditors |
|
|
35,000 |
Sales Book
|
Date |
Particulars |
Invoice No. |
LF |
Amount |
|
June 3 June 8 June 12 June 22 |
Sold to Damodar Sold to Shankar Sold to Yogita Sold to Sarita |
151 152 153 154 |
|
12,000 20,000 8,000 15,000 |
|
|
Total debtors |
|
|
55,000 |
Purchase Return Book
|
Date |
Particulars |
Debit Note |
LF |
Amount |
|
June 6 June 25 |
Purchased returned to Viddhya Purchased returned to Salim |
441 442 |
|
4,000 3,000 |
|
|
Total debit note |
|
|
7,000 |
Sales Return Book
|
Date |
Particulars |
Credit Note |
LF |
Amount |
|
June 15 June 28 |
Sales returned from Yogita Sales returned from Shankar |
331 332 |
|
2,000 1,500 |
|
|
Total credit note |
|
|
3,500 |
###########
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###########
PROBLEM: 10
The following transactions are related to ABC Electricals:
January 1: Sold to Gupta Electricals:
5 pieces electric kettle @ Rs 1,500 each
10 pieces gas heater @ Rs 1,800 each
(Less: trade discount 12%)
January 5: Sold to Rana Electricals:
5 ceiling fans @ Rs 2,000 each (Less: trade discount 5%)
20 pieces LED 5 watt @ Rs 100 each
12 pieces tube light 40 watt @ Rs 100 per dozen
January 7: Goods sold to Max Lighting in cash:
5 ceiling fans @ Rs 1,850 each
Required: (a) Sales book; (b) Sales account; (c) Rana Electrical account (c) Journal entry
[Answer: Sales book = 35,140; Sales account = 44,390]
SOLUTION:
Sales Book
|
Date |
Particulars |
Invoice No. |
LF |
Amount |
Amount |
|
Jan 1 |
Sold to Gupta Electricals: 5 units electric kettle @ Rs 1,500 each 10 units gas heaters @ Rs 1,800 Total Less: Trade discount (25,500 @ 12%) |
|
|
7,500 18,000 |
22,440 |
|
25,500 (3,060) |
|||||
|
|
|
|
|
|
|
|
Jan 5 |
Sold to Rana Electricals: 5 ceiling fans @ Rs 2,000 each Less: Trade discount (10,000 @ 5%) 20 units 5watt CFL @ Rs 100 each 12 units tube light 40 watt @ Rs 100 each |
|
|
10,000 (500) 2,000 1,200 |
12,700 |
|
|
Total debtors |
35,140 |
|||
Sales Account
|
Dr |
|
Cr |
|||||
|
Date |
Particulars . |
LF |
Amount |
Date |
Particulars |
LF |
Amount |
|
Jan, 7
|
To Balance c/d |
|
44,390 |
Jan, 1 Jan 5 Jan 7 |
By Gupta Electricals A/c By Rana Electricals A/c By Cash account |
|
22,440 12,700 9,250 |
|
44,390 |
44,390 |
||||||
Rana Electric Account
|
Dr |
|
Cr |
|||||
|
Date |
Particulars . |
LF |
Amount |
Date |
Particulars |
LF |
Amount |
|
Jan, 5
|
To Sales account |
|
12,700 |
Jan 5 |
By balance c/d |
|
12,700
|
|
12,700 |
12,700 |
||||||
Journal Entries
In the book of ABC Electricals
|
Date |
Particulars |
|
LF |
Amount Dr |
Amount Cr |
|
Jan 1 |
Gupta Electricals account To Sales account (Being- sundry goods sold on credit) |
Dr
|
|
22,440
|
22,440
|
|
Jan 5 |
Rana Electrical account To Sales account (Being- sundry goods sold on credit) |
Dr
|
|
12,700
|
12,700
|
|
Jan 7 |
Cash account To Sales account (Being- goods sold to Max Lighting for cash) |
Dr
|
|
9,250 |
9,250 |
***********
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