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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
Madan commenced business on 1st January, 2025 introducing capital in cash ₹1,00,000. Enter the transactions in his books of account.
| 2025 | Transaction | ₹ |
|---|---|---|
| Jan. 1 | Started business with cash (Capital) | 1,00,000 |
| Jan. 2 | Bought goods for cash | 20,000 |
| Jan. 3 | Sold goods for cash | 7,000 |
| Jan. 15 | Sold goods to Shravan on credit | 6,000 |
| Jan. 18 | Bought goods on credit from Anurag | 50,000 |
| Jan. 19 | Goods returned to Anurag | 5,000 |
| Jan. 20 | Sold goods for cash | 30,000 |
| Jan. 22 | Paid electricity bill | 1,000 |
| Jan. 28 | Paid telephone bill | 500 |
| Jan. 29 | Paid rent | 800 |
| Jan. 31 | Paid wages | 3,000 |
| Date | Particulars | L.F. | Dr. (₹) | Cr. (₹) |
|---|---|---|---|---|
| Jan.01 | Cash A/c Dr. | 1,00,000 | ||
| To Capital A/c | 1,00,000 | |||
| (Started business with cash) | ||||
| Jan.02 | Purchases A/c Dr. | 20,000 | ||
| To Cash A/c | 20,000 | |||
| (Goods purchased for cash) | ||||
| Jan.03 | Cash A/c Dr. | 7,000 | ||
| To Sales A/c | 7,000 | |||
| (Goods sold for cash) | ||||
| Jan.15 | Shravan A/c Dr. | 6,000 | ||
| To Sales A/c | 6,000 | |||
| (Goods sold to Shravan on credit) | ||||
| Jan.18 | Purchases A/c Dr. | 50,000 | ||
| To Anurag A/c | 50,000 | |||
| (Goods purchased from Anurag on credit) | ||||
| Jan.19 | Anurag A/c Dr. | 5,000 | ||
| To Purchases Return A/c | 5,000 | |||
| (Goods returned to Anurag) | ||||
| Jan.20 | Cash A/c Dr. | 30,000 | ||
| To Sales A/c | 30,000 | |||
| (Goods sold for cash) | ||||
| Jan.22 | Electricity Expenses A/c Dr. | 1,000 | ||
| To Cash A/c | 1,000 | |||
| (Electricity bill paid) | ||||
| Jan.28 | Telephone Expenses A/c Dr. | 500 | ||
| To Cash A/c | 500 | |||
| (Telephone bill paid) | ||||
| Jan.29 | Rent A/c Dr. | 800 | ||
| To Cash A/c | 800 | |||
| (Rent paid) | ||||
| Jan.31 | Wages A/c Dr. | 3,000 | ||
| To Cash A/c | 3,000 | |||
| (Wages paid) |
| Dr. | Cr. | ||||||
|---|---|---|---|---|---|---|---|
| Date | Particulars | J.F. | Amt.(₹) | Date | Particulars | J.F. | Amt.(₹) |
| Jan.01 | Capital A/c | 1,00,000 | Jan.02 | Purchases A/c | 20,000 | ||
| Jan.03 | Sales A/c | 7,000 | Jan.22 | Electricity Exp. A/c | 1,000 | ||
| Jan.20 | Sales A/c | 30,000 | Jan.28 | Telephone Exp. A/c | 500 | ||
| Jan.29 | Rent A/c | 800 | |||||
| Jan.31 | Wages A/c | 3,000 | |||||
| Jan.31 | Balance c/d | 1,11,700 | |||||
| Total | 1,37,000 | Total | 1,37,000 | ||||
| Feb.01 | Balance b/d | 1,11,700 | |||||
| Dr. | Cr. | ||||||
|---|---|---|---|---|---|---|---|
| Date | Particulars | J.F. | Amt.(₹) | Date | Particulars | J.F. | Amt.(₹) |
| Jan.31 | Balance c/d | 1,00,000 | Jan.01 | Cash A/c | 1,00,000 | ||
| Total | 1,00,000 | Total | 1,00,000 | ||||
| Feb.01 | Balance b/d | 1,00,000 | |||||
| Dr. | Cr. | ||||||
|---|---|---|---|---|---|---|---|
| Date | Particulars | J.F. | Amt.(₹) | Date | Particulars | J.F. | Amt.(₹) |
| Jan.02 | Cash A/c | 20,000 | Jan.31 | Balance c/d | 70,000 | ||
| Jan.18 | Anurag A/c | 50,000 | |||||
| Total | 70,000 | Total | 70,000 | ||||
| Feb.01 | Balance b/d | 70,000 | |||||
| Dr. | Cr. | ||||||
|---|---|---|---|---|---|---|---|
| Date | Particulars | J.F. | Amt.(₹) | Date | Particulars | J.F. | Amt.(₹) |
| Jan.31 | Balance c/d | 43,000 | Jan.03 | Cash A/c | 7,000 | ||
| Jan.15 | Shravan A/c | 6,000 | |||||
| Jan.20 | Cash A/c | 30,000 | |||||
| Total | 43,000 | Total | 43,000 | ||||
| Feb.01 | Balance b/d | 43,000 | |||||
| Dr. | Cr. | ||||||
|---|---|---|---|---|---|---|---|
| Date | Particulars | J.F. | Amt.(₹) | Date | Particulars | J.F. | Amt.(₹) |
| Jan.15 | Sales A/c | 6,000 | Jan.31 | Balance c/d | 6,000 | ||
| Total | 6,000 | Total | 6,000 | ||||
| Feb.01 | Balance b/d | 6,000 | |||||
| Dr. | Cr. | ||||||
|---|---|---|---|---|---|---|---|
| Date | Particulars | J.F. | Amt.(₹) | Date | Particulars | J.F. | Amt.(₹) |
| Jan.19 | Purchases Return A/c | 5,000 | Jan.18 | Purchases A/c | 50,000 | ||
| Jan.31 | Balance c/d | 45,000 | |||||
| Total | 50,000 | Total | 50,000 | ||||
| Feb.01 | Balance b/d | 45,000 | |||||
| Dr. | Cr. | ||||||
|---|---|---|---|---|---|---|---|
| Date | Particulars | J.F. | Amt.(₹) | Date | Particulars | J.F. | Amt.(₹) |
| Jan.31 | Balance c/d | 5,000 | Jan.19 | Anurag A/c | 5,000 | ||
| Total | 5,000 | Total | 5,000 | ||||
| Feb.01 | Balance b/d | 5,000 | |||||
| Dr. | Cr. | ||||||
|---|---|---|---|---|---|---|---|
| Date | Particulars | J.F. | Amt.(₹) | Date | Particulars | J.F. | Amt.(₹) |
| Jan.22 | Cash A/c | 1,000 | Jan.31 | Balance c/d | 1,000 | ||
| Total | 1,000 | Total | 1,000 | ||||
| Feb.01 | Balance b/d | 1,000 | |||||
| Dr. | Cr. | ||||||
|---|---|---|---|---|---|---|---|
| Date | Particulars | J.F. | Amt.(₹) | Date | Particulars | J.F. | Amt.(₹) |
| Jan.28 | Cash A/c | 500 | Jan.31 | Balance c/d | 500 | ||
| Total | 500 | Total | 500 | ||||
| Feb.01 | Balance b/d | 500 | |||||
| Dr. | Cr. | ||||||
|---|---|---|---|---|---|---|---|
| Date | Particulars | J.F. | Amt.(₹) | Date | Particulars | J.F. | Amt.(₹) |
| Jan.29 | Cash A/c | 800 | Jan.31 | Balance c/d | 800 | ||
| Total | 800 | Total | 800 | ||||
| Feb.01 | Balance b/d | 800 | |||||
| Dr. | Cr. | ||||||
|---|---|---|---|---|---|---|---|
| Date | Particulars | J.F. | Amt.(₹) | Date | Particulars | J.F. | Amt.(₹) |
| Jan.31 | Cash A/c | 3,000 | Jan.31 | Balance c/d | 3,000 | ||
| Total | 3,000 | Total | 3,000 | ||||
| Feb.01 | Balance b/d | 3,000 | |||||
Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
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