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    Ledger Questions

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    Alefiya Burhani
    The document provides examples of business transactions to practice journalizing and posting to a ledger. The transactions include starting a business, purchasing and selling inventory, paying expenses, receiving payments from customers, and withdrawing cash. For each set of transactions, the tasks are to journalize the entries and post them to the appropriate ledger accounts.

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    Ledger Questions

    Uploaded by

    Alefiya Burhani
    76 views2 pages
    The document provides examples of business transactions to practice journalizing and posting to a ledger. The transactions include starting a business, purchasing and selling inventory, paying expenses, receiving payments from customers, and withdrawing cash. For each set of transactions, the tasks are to journalize the entries and post them to the appropriate ledger accounts.

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    The document provides examples of business transactions to practice journalizing and posting to a ledger. The transactions include starting a business, purchasing and selling inventory, paying expenses, receiving payments from customers, and withdrawing cash. For each set of transactions, the tasks are to journalize the entries and post them to the appropriate ledger accounts.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    76 views2 pages

    Ledger Questions

    Uploaded by

    Alefiya Burhani
    The document provides examples of business transactions to practice journalizing and posting to a ledger. The transactions include starting a business, purchasing and selling inventory, paying expenses, receiving payments from customers, and withdrawing cash. For each set of transactions, the tasks are to journalize the entries and post them to the appropriate ledger accounts.

    Copyright:

    © All Rights Reserved
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    of 2

    XI State Board

    Book-keeping & Accountancy


    Practice Questions for Ledger

    1. Journalise the following transactions, post them into Ledger.  

    2018
    Apr. 1 Mohan commenced business with cash 1,60,800
    Apr. 3 Bought goods 5,500
    Apr. 4 Sold goods to Gopal 4,040
    Apr. 10 Bought goods from Ram 6,000
    Apr. 15 Paid trade expenses 2,560
    Apr. 20 Received cash from Gopal 3,950
    Apr. 20 Discount Allowed 70
    Apr. 25 Paid Wages 900
    Apr. 27 Paid to Ram in full settlement 5,650
    Apr. 30 Paid rent 1,500

    2. Record the following transactions in the Journal and post them into ledger.

    Oct 1st Rohit started business with a capital of1,20,630


    3rd Bought goods from Yash on credit 1,963
    4th Sold goods to Jay 23,286
    5th Cash purchases 24,745
    7th Cash sales 14,398
    9th Goods retuned to Yash 1,854
    10th Bought furniture for 13,956
    11th Cash paid to Yash 11,325
    12th Goods returned by Jay 2,896
    14th Goods taken by Neel for personal use 3,753
    15th Cash received from Jay 12,712
    16th Took loan from Amit 30,745
    17th Salary paid 5,782
    18th Bought stationery for 1,589
    19th Amount paid to Amit on loan account 18,852
    20th Interest received 4,793

    3. Enter the following transactions for the month of June,2022 in the Journal and post them into ledger.

    11th Bought furniture from Modern Furniture for 15,900


    12th Purchased goods for cash 20,250
    13th Purchased goods from B. D & Co for 35,893
    14th Opened a bank account by depositing 16,842
    16th Sold goods for cash 15,249
    17th Purchased stationery for 1563 from Bharat Stationery Mart
    18th Sold goods to Zahir Khan for 10,789
    19th Bought machinery for 6,785 and payment made by cheque
    30th Commission received by cheque 5,741
    20th Goods returned by Zahir Khan for 2,390
    21st Payment to B.D & Co by cheque 5,759
    22n Withdrew from bank for personal use 3,500
    d
    23rd Interest paid through cheque 2,789
    24th Withdrew from bank for office expenses 10,147
    26th Cheque received from Zahir Khan 5,589
    27th Paid electricity bill for 116
    29th Cash sales for 6,742

    4. Creative Advertising, owned by Miss Valiya khan, provides advertising consulting services. During
    January 2011, the following events occurred.

    Jan. 2 Owner contributed Rs. 50,000 and a new computer costing Rs. 20,500 to start her
    business.
    Jan. 4 Office supplies were purchased on account for Rs. 4,000.
    Jan. 10 Creative Advertising obtained 12% 5-year loan of Rs. 20,000 from the bank.
    Jan. 12 Creative Advertising paid the utility bills for Rs. 2,750.
    Jan. 27 Creative Advertising received Rs. 5,500 from Monika Flowers, a client, as payment on
    account.
    Jan. 15 Paid the Rs. 3,000 in Accounts Payable from the purchase of office supplies on Jan. 4.
    Jan. 24 Advertising services completed in January were billed to clients Monika Flowers at Rs.
    18,300.
    Jan. 30 Miss Valiya khan withdrew Rs. 6,000 of cash for personal use.
    You are required to pass Journal Entries and post them to appropriate general ledger accounts.

    5. Mr Stephen commenced business on 1st January, 2011 with a capital of ₹100,000 in cash. On the same
    date he opened the bank account in ADCB and deposited ₹ 20,000. During the month of January 2011
    the following transactions took place:

    Jan 1 Bought goods for cash1,70,000


    2 Sold goods to Steve Co. (Credit) 38,000
    15 Sold goods for cash 9,000
    21 Steve Co. paid by cheque 35,000
    22 Stationery bill paid by cheque 2,000
    22 Telephone bill by cash 500
    31 Paid rent by cash 2,000
    Paid salaries by cash 3,000
    Withdrew cash personal use 5,000

    Record journal entries for the transactions and post them to ledgers.

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