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11th Accountancy Monthly Test -4 ( Ledger )

MABS Institution

11th Accountancy Monthly Test -4 ( Ledger )-Aug 2020

Time : 2.00 Hours

Part - A

Generic 5 - Answer All Question

The following balances appeared in the books ofVinoth on Jan 1,2018
Assets: Cash Rs 40,000; Stock Rs 50,000; Amount due from Ram Rs 20,000;
Machinery Rs 40,000 Liabilities: Amount due to Vijay Rs 10,000
Pass the opening journal entry and "post them to Vinoth's Capital account.

Record the following transactions in the Journal of Mr. Radhakrishnan and post them in the ledger and balance the same.

2014, Jan. 1 Radhakrishnan commenced business with cash, Rs 15,00,000

3 Paid into Bank Rs 5,00,000

5 Bought goods for Rs 3,60,000

10 Sold goods for Rs 2,50,000

15 old goods to Balan Rs 2,40,000

Journalise the following transactions of Mr. Ravi and post them in the ledger and balance the same.

2014, June 1 Ravi invested Rs 5,00,000 cash in the business

5 Purchased building for Rs 3,00,000

7 Purchased goods for Rs 70,000

10 Sold goods for Rs 80,000

25 Paid electric charges Rs 3,000

Show the direct ledger postings for the following transactions:

2017 June

1 Raja commenced business with cash Rs 50,000

6 Sold goods for cash Rs 8,000

8 Sold goods to Devi on credit Rs 9,000

15 Goods purchased for cash Rs 4,000

20 Goods purchased from Shanthi on credit Rs 5,000

Give journal entries for the following transactions and post them to ledger.

2015 Mar Rs.

1 Goods sold to Somu on credit 5,000

7 Furniture purchased for cash 300

15 Interest received 1,800

Journalise the following transactions in the Journal of Mr. Shanmugam, post them in the ledger and balance them

2013, Aug. 1 Started business with Rs 4,50,000

3 Goods purchased Rs 70,000

5 Goods sold Rs 51,000

10 Goods purchased from Rangasamy Rs 2,00,000

16 Goods returned to Rangasamy Rs 5,000

27 Settled Rangasamy's account

Enter the following transactions in the books of Ganesan and post them into ledger.

2017 Oct Rs.

1 Started business with cash 25,000

5 Deposited into bank 12,500

10 Purchased furniture and payment by cheque 2,000

15 Goods purchased for cash 5,000

19 Sold goods to Vasu on credit 4,000

22 Goods worth Rs.500 taken for personal use

Journalise the following transactions and post them to the ledger.

2017 July Rs.

1 Cash in hand 50,000

5 Goods purchased by cash 30,000

7 Insurance paid 2,500

10 Machinery purchased for cash 9,000

15 Interest received 2,000

18 Goods sold for cash 7,000

Post the following transations direct into ledger of Mr. Ratnakumar.

2017 July Rs

1 Started business with 60,000

5 Cash paid into Bank 20,000

7 Withdrew cash Rs 5,000 for office use

8 Withdrew by cheque for personal use 500

10 Paid Salaries by cheque 3,000

15 Furniture purchased by cheque 5,000

Thmizhanban started book selling business on 1st January 2018. Following are the traasactions took place in his business for the month of January 2018. Pass journal entries and prepare ledger accounts.

2018

Jan. 1   Started business with cash Rs 3,00,000

2   Opened bank account by depositing Rs 2,00,000

5   Goods bought from Tamilnadu Textbook Corporation for cash Rs 10,000

15   Sold goods to MM Traders for cash Rs 5,000

22   Purchased goods from X and Co. for Rs 15,000 and the payment is made through net banking

25   Sold goods to Y and Co. for Rs 30,000 and the payment is received through NEFT

Journalise the following transactions and post them to ledger. On May 20, 2018, Ram paid salaries Rs 15,000; Electricity charges Rs 8,000 and wages Rs 2,000.

In the books of Ram Journal entries

Date Particulars L.F. Debit Rs Credit Rs

2018

May 20   Salaries A/c Dr. 15,000

  Electricity charges A/c Dr. 8,000

  Wages A/c Dr. 2,000

  To Cash A/c 25,000

  (Expenses paid)

Post the following transactions direct into ledger of Thiru. Karthik and balance them.

2013, Oct. 1 Received cash from Ramesh R 1,60,000

20 Withdrew cash for personal use Rs 18,000

25 Received commission Rs 20,000

30 Paid rent Rs 5,000

31 Paid salary Rs 10,000

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