Solution For PM Students

Journal of M/s
Date Particulars LF Debit Amt Credit Amt

2007 Cash A/c Dr. 500000
01/04 Goods A/c Dr. 500000
To Owner’s Capital A/c 1000000
(Business started with cash and tradable goods)
02/04 Bank of India A/c Dr 400000
To Cash A/c 400000
(Current account opened with BOI by cash)
03/04 Lease Rent A/c Dr. 60000
To Bank of India A/c 60000
(Lease rent for the year paid by cheque no …….
wide receipt no. …. dated …..)
10/04 Godown Rent A/c Dr. 4000
To Cash A/c 4000
(Rent for godown for the month of April paid by
cash wide receipt no. …… dated. …… )
20/04 Bank of India A/c Dr. 200000
To Security Deposit A/c 200000
(Received security deposit from M/s Best Deals
Ranchi by cheque no. … issued receipt no. … )
22/04 M/s Best Deals’ A/c Dr. 150000
To Sales A/c 150000
(Good sent under invoice no. ………)
To Security Deposit A/c 150000
(Received security deposit from M/s High Tech
Distributors, Ramgarh by cheque no. …. Issued
receipt no. … … dated ….)
01/05 Salary A/c Dr. 2217
Sales Commission A/c Dr. 750
To Mr. Ram Rahim’s A/c 2967
(Salary for 19 days payable @ Rs. 3500 /month
and sales comm. @ 0.5% on Rs.150000 due)
05/05 M/s High Tech Distributor’s A/c Dr. 100000
To Sales A/c 100000
07/05 Mr. Ram Rahim’s A/c Dr. 2967
(Salary and commission for April 07 paid by
cheque no. ….. dated …..)
07/05 Traveling Expenses A/c Dr. 1200
Wages A/c Dr. 1500
To Cash A/c 2700
(Traveling exp. and wages to temporary staff paid
by voucher no. ………. And …….)
To Best Deals’ A/c 100000
(Recvd by cheque no. ….. issued receipt no. …..)
To Sales A/c 125000
To High Tech Distributor’s A/c 100000
(Recvd by cheque no. …….. issued receipt no..)
To Mr. Joseph’s A/c 1774
To Mr. Mohd Ali’s A/c 1645
(Salary for the month of May due for whole
month, 22 days and 17 days respectively)
01/06 Sales Commission A/c Dr. 1125
(0.5 Sales comm. due for the month of May on
Rs. 225000)
To Sales A/c 110000
07/06 Mr. Ram Rahim’s A/c Dr. 4625
Mr. Joseph’s A/c Dr. 1774
Mr. Mohd Ali’s A/c Dr. 1645
(Salary and sales commission for May paid)
To Cash A/c 2000
(Traveling exp. paid by voucher no. ……….)
10/06 Auto A/c Dr. 150000
To Auto Vendor’s A/c 150000
(Auto purchased from (vendor’s name) on 11
monthly installment of Rs. 10000 by making a
down payment of Rs. 40000)
10/06 Auto Vendor’s A/c Dr. 40000
(Down payment for auto made by cheque no. …)
11/06 Petrol (or Fuel) Expenses A/c Dr. 1000
To Cash A/c 1000
(Fuel/petrol for auto purchased in cash by cash
memo no. …..)
15/06 Purchases A/c Dr. 500000
(Goods purchased from M/s Delhi Exim by
making full payment by DD no. ……)
To Best Deals’ A/c 175000
(Received by cheque no. ….. issued receipt no. )
To Sales A/c 150000
To High Tech Distributor’s A/c 100000
(Receivd by cheque no. …….. issued receipt no.)
To Sales A/c 125000
To Outstanding Exp. A/c 3000
(Traveling exp. paid by voucher no. ……….)
To Mr. Joseph’s A/c 2500
To Mr. Mohd Ali’s A/c 3000
(Salary for the month of June due)
30/06 Sales Commission A/c Dr. 1925
(0.5 Sales comm. due for the month of May on
Rs. 225000)
Total
Ledger Accounts
Owners’ Capital A/c

Date Particulars Amt Date Particulars Amt
01/04 By Cash A/c 500000
01/04 By Goods A/c 500000
Goods A/c
01/04 To Owners’ Capital A/c 50000
0
Lease Rent A/c

03/04 To Bank of India A/c 60000
Godown Rent A/c

10/04 To Cash A/c 4000
Security Deposit A/c

20/04 By Bank of India A/c 200000
01/05 By Bank of India A/c 150000
Cash A/c
01/04 To Owner’s Capital A/c 50000 02/04 By Bank of India A/c 400000
0
10/04 By Godown Rent A/c 4000
07/05 By Wages A/c 1500
07/05 By Traveling Exp. A/c 1200
07/06 By Traveling Exp. A/c 2000
11/06 By Petrol (Fuel) Exp. A/c 1000
Bank A/c
02/04 To Cash A/c 40000 03/04 By Lease Rent A/c 60000
0
20/04 To Security Deposit A/c 20000 07/05 By Mr Ram Rahim’s A/c 2967
0
01/05 To Security Deposit A/c 15000 07/06 By Mr. Ram Rahim’s A/c 4625
0
20/05 To Best Deals A/c 10000 07/06 By Mr. Joseph’s A/c 1774
0
01/06 To High Tech Distri. A/c 10000 07/06 By Mr. Mohd Ali’s A/c 1645
0
22/06 To Best Deals A/c 17500 10/06 By Auto Vendor’s A/c 40000
0
28/06 To High Tech Distri. A/c 10000 15/06 By Purchases A/c 500000
0
Purchases A/c
15/06 To Bank of India A/c 50000
0
Sales A/c
22/04 By Best Deals A/c 150000
05/05 By High Tech Distri.A/c 100000
05/06 By High Tech Distri.A/c 110000
30/06 By High Tech Distri. A/c 125000
76000
0
M/s Best Deals’ A/c

22/04 To Sales A/c 15000 20/05 By Bank of India A/c 100000
0
0
22/06 To Sales A/c 15000
0
42500
0
M/s High Tech Ditributor’s A/c

0
05/06 To Sales A/c 110000 28/06 By Bank of India a/c 100000
30/06 To Sales A/c 12500
0
33500
0
Salary A/c
01/05 To Mr. Ram Rahim’s A/c 2217
01/06 To Mr. Joseph’s A/c 1774
01/06 To Mr. Mohd. Ali’s A/c 1645
30/06 To Mr. Joseph’s A/c 2500
30/06 To Mr. Mohd. Ali’s A/c 3000
18136
Sales Commission A/c

3800
Wages A/c
07/05 To Cash A/c 1500
Traveling Expenses A/c

07/05 To Cash A/c 1200
07/06 To Cash A/c 2000
30/06 To Outstanding Exp. A/c 3000
6200
Petrol (or Fuel) Expenses A/c

11/06 To Cash A/c 1000
Outstanding Expenses A/c

30/06 To Traveling Exp. A/c 3000
Mr. Ram Rahims’ A/c

07/05 To Bank of India A/c 2967 01/05 By Salary A/c 2217
07/06 To Bank of India A/c 4625 01/05 By Sales Commission A/c 750
01/06 By Salary A/c 3500
01/06 By Sales Commission A/c 1125
30/06 By Sales Commission A/c 1925
Mr. Joseph’s A/c

Mr. Mohd Ali’s A/c

Auto Vendor’s A/c

10/06 To Bank of India A/c 40000 10/06 By Auto’s A/c 150000
Auto’s A/c
10/06 To Auto Vendor’s A/c 15000
0

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Solution For PM Students

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Journal of M/s

Date Particulars LF Debit Amt Credit Amt

Owners’ Capital A/c

Lease Rent A/c

Godown Rent A/c

Security Deposit A/c

M/s Best Deals’ A/c

M/s High Tech Ditributor’s A/c

Sales Commission A/c

Traveling Expenses A/c

Petrol (or Fuel) Expenses A/c

Outstanding Expenses A/c

Mr. Ram Rahims’ A/c

Mr. Joseph’s A/c

Mr. Mohd Ali’s A/c

Auto Vendor’s A/c

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