Computerized Accounting

Assignment No. 1
Name: ___________________________
______________________

Registration No.

Abdullah imports Laptops and sells in his outlet. Following are the opening balances of
his selected accounts as of January 2016.
ID
100
110

Account
Cash
Accounts
Receivable
Inventory
Accounts Payable

120
200

Amount
50,000
850,000

ID
400
500

Account
Sales
Cost of Sales

Amount
1500,000
780,000

920,000
980,000

Sale price for the laptops are:

Dell

Rs. 35,000

Sony Rs. 34,500

Lenavo

Rs. 36,000

He is involved in the following transaction during the month of Feb 2016

1st FebPurchased 10 Dell laptops for the cost of Rs. 25,000 each for Cash.
3rd Feb
Sold 2 Dell and 3 Sony Laptops to Quality Computers on credit at 1/10,
n/20 against invoice no. 101.
4th Feb
Purchased 5 Sony laptops for the cost of RS. 24,500 each on credit at term
of 2/10, n/30 from Sony Corporation.
5th Feb
102.

Sold 3 Lenavo laptops to Lahore Computers on cash against invoice no.

5th Feb
Purchased 7 Lenavo laptops from Lenavo Corporation on credit at RS.
26,000 each at term of n/30.
6th Feb

Make payment to Sony Corporation for the 4th Feb purchases.

SALES JOURNAL

INVOICE
DATE

NO.

Page No. 6

POST
ACCOUNT DEBITED

REF

ACCTS. REC.
DR.
SALES CR.

COST OF
SALE DR.
INVENTORY
CR.

CASH RECEIPTS JOURNAL

Page No. 4
POST
DATE

ACCOUNT
CREDITED

OTHER
ACCTS CR.

REF

ACCOUNTS

COST/SOLD
DR.

REC. - CR.

INVENTORY
CR.

SALES CR

SALES
DISC. DR.

CASH
DR.

PURCHASES JOURNAL

DATE

ACCOUNT CREDITED

Page No. 11

POST

OTHER

ACCOUNT
S

STORE

MERCH.

REF

(SUNDRY)

PAYABLE

SUPPLIES

INVENORY

ACCTS - DR.

CR.

DR.

DR.

CASH PAYMENTS JOURNAL

POS
T

CK.
DATE

NO.

ACCOUNT DEBITED

REF

OTHER

ACCOUNTS

(SUNDRY)
ACCTS - DR.

Page No.

PAYABLE

MERCH.
INVENTOR
Y

CASH

DR.

CR.

CR.

Inventory Control Sheet

Dell Laptops:
Purchases
Date
11/30/12

Unit
s

cost per unit

Amount

Cost of Goods Sold (Sales)

Unit
s
Amount
cost per unit

INVENTORY
Unit
s
10
2

Amount
245,000
49,600

cost per unit

24,500
24,800

Sonny Laptops:
Purchases
Date
11/30/12

Unit
s

cost per unit

Amount

Cost of Goods Sold (Sales)

Unit
s
Amount
cost per unit

INVENTORY
Unit
s
5
2

Amount
117,500
48,000

cost per unit

23,500
24,000

Lenavo Laptops:
Purchases
Date
11/30/12

Unit
s

cost per unit

Amount

Cost of Goods Sold (Sales)

Unit
s
Amount
cost per unit

INVENTORY
Unit
s
10
5

Amount
250,000
127,500

cost per unit

25,000
25,500

ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER

(CUSTOMERS)

Customer Name: Quality Computers

POST
DATE

TRANSACTION

REF

RUNNING
DEBIT

CR
EDIT

BALANCE

450,000

31/1/2016

Customer Name: Lahore Computers

POST
DATE

TRANSACTION

REF

RUNNING
DEBIT

CRE
DIT

BALANCE

400,000

31/1/2016

ACCOUNTS PAYABLE SUBSIDIARY LEDGER

(VEND
ERS)

Vendor Name: Dell Corporation

POST
DATE

31/1/2016

TRANSACTION

REF

RUNNING
DEBIT

CREDIT

BALANCE

380,000

Vendor Name: Sony Corporation

POST
DATE

REF

TRANSACTION

RUNNING
DEBIT

CREDIT

BALANCE

200,000

31/1/2016

Vendor Name: Lenavo Corporation

POS
T
DATE

REF

TRANSACTION

RUNNING
DEBIT

CREDIT

BALANCE

300,000

31/1/2016

General Ledgers
Cash
DATE

ITEM

POST
REF

DEBIT

CREDIT

Accounts Receivables
DATE

100

ACCOUNT NO.

ITEM

BALANCE
DEBIT

110

ACCOUNT NO.

POST
REF

DEBIT

CREDIT

CREDIT

BALANCE
DEBIT

CREDIT

Inventory
DATE

ITEM

POST
REF

DEBIT

CREDIT

Accounts Payable
DATE

ITEM

BALANCE
DEBIT

POST
REF

DEBIT

CREDIT

BALANCE
DEBIT

POST
REF

DEBIT

CREDIT

CREDIT

400

ACCOUNT NO.

ITEM

CREDIT

200

ACCOUNT NO.

Sales
DATE

120

ACCOUNT NO.

BALANCE
DEBIT

CREDIT

Cost of Sales
DATE

ITEM

500

ACCOUNT NO.

POST
REF

DEBIT

CREDIT

BALANCE
DEBIT

CREDIT