Pss Journal entries and prepare ledger accounts: Mar 1 csh in hand-5500,bank-4500,machinery rs 15000, debtors-Ram-150 Sonu-2000, bank - Accountancy - Recording of Transactions - I

Question

Pss Journal entries and prepare ledger accounts:
Mar 1 csh in hand-5500,bank-4500,machinery rs 15000,
debtors-Ram-150 Sonu-2000, bank loan-10000,
creditors-Sudha-2300
Mar 5 purchased goods from Sudha for rs 1500
Mar 10 received cash from Sonu on account
Mar 15 cash deposits in bank rs 2300
Mar 31 paid to Sudha on account rs 3500 by cheque
Mar 31 depriciation charged on machinery rs 1000 Paid bank loan
instalment rs 1000

Manisha Arora · Accepted Answer

Journal Entry

Date
Particulars
L F
Debit
Amount
(Rs)
Credit
Amount
(Rs)

Mar 01
Cash A/c
Dr

5,500

Bank A/c
Dr

4,500

Machinery A/c
Dr

15,000

Ram
Dr

15

Sonu
Dr

2,000

To Bank Loan A/c

10,000

To Sudha

2,300

To Capital

14,850

(Business Commenced)

Mar 05
Purchases A/c
Dr

1,500

To Sudha

1,500

(Goods purchased from Sudha)

Mar 10
Cash A/c
Dr

150

To Sonu

150

(Cash paid to Sonu)

Mar 15
Bank A/c
Dr

2,300

To Cash A/c

2,300

(Cash deposited into Bank)

Mar 31
Sudha
Dr

3,800

To Bank A/c

3,500

To Discount Received A/c

300

(Amount due to Sudha paid by cheque in
full settlement of her account)

Mar 31
Depreciation A/c
Dr

1,000

To Machinery A/c

1,000

(Depreciation charged on Machinery)

Mar 31
Bank A/c
Dr

1,000

To Bank Loan

1,000

(An instalment of Bank Loan paid)

Due to paucity of time it is not possible for us prepare all the
Ledger Accounts According to the Journal Entries you can prepare
Ledger Accounts Accordingly However, if you find any difficult
related to your query you may get back to us We assure you our help

Journal Entry
Date	Particulars		L.F.	Debit Amount (Rs)	Credit Amount (Rs)

Mar.01	Cash A/c	Dr.		5,500
	Bank A/c	Dr.		4,500
	Machinery A/c	Dr.		15,000
	Ram	Dr.		15
	Sonu	Dr.		2,000
	To Bank Loan A/c				10,000
	To Sudha				2,300
	To Capital				14,850
	(Business Commenced)

Mar.05	Purchases A/c	Dr.		1,500
	To Sudha				1,500
	(Goods purchased from Sudha)

Mar.10	Cash A/c	Dr.		150
	To Sonu				150
	(Cash paid to Sonu)

Mar.15	Bank A/c	Dr.		2,300
	To Cash A/c				2,300
	(Cash deposited into Bank)

Mar.31	Sudha	Dr.		3,800
	To Bank A/c				3,500
	To Discount Received A/c				300
	(Amount due to Sudha paid by cheque in full settlement of her account)

Mar.31	Depreciation A/c	Dr.		1,000
	To Machinery A/c				1,000
	(Depreciation charged on Machinery)

Mar.31	Bank A/c	Dr.		1,000
	To Bank Loan				1,000
	(An instalment of Bank Loan paid)