Sundry debtors as on 1.1.2011 stood at Rs.50,000 Prepare the General Ledger Adjustment accounts as will appear in the and debtor’s from the information given below: creditor’s ledger, Balance as on 1.04.2011 Particulars Dr. Cr. Ledger 47,200 240 Debtor’s Ledger 280 26,300 Creditor’s Transactions for the year ended 31.03.2012 Particulars Rs. Particulars Rs. Total Sales 1,20,100 Bills accepted by 20,100 customers Cash Sales 8,100 Bills receivable 1,500 dishonoured Total Purchases 89,500 Bills receivable 5000 discounted Credit purchases 67,000 Bills receivable 4000 endorsed to creditors Creditors paid off(in 39,500 Endorsed bills 1000 full settlement of dishonoured Rs.40,000) Received from 58,200 Bad-debts written 2,200 debtors (in full off(after deducting settlement of bad debts recovered Rs.59,000) Rs.300) Return from debtors 2600 Provision for 550 doubtful debts Return to creditors 1800 Transfer from 1100 ledger to debtor’s ledger creditor’s Bills accepted for 5500 Transfer from 1900 creditors ledger to creditor’s ledger debtor’s Bills payable 8000 matured Balance on 31.03.2012 Ledger (Cr.) Rs.380 Debtor’s Ledger (Dr.) Rs.420 Creditor’s Pass journal entries in the books of Exe Ltd both under self balancing and sectional balancing system: The sales book was found undercast by Rs.1000 Discount allowed to Rao Rs.50 correctly entered in the cash book but not posted to his account. Credit balance of Rs.310 in account in the Purchase Ledger was transferred Murthy’s to his account in the Sales Ledger.
Sundry debtors as on 1.1.2011 stood at Rs.50,000 Prepare the General Ledger Adjustment accounts as will appear in the debtor’s and creditor’s ledger, from the information given below: Balance as on 1.04.2011 Particulars Dr. Cr. Debtor’s Ledger 47,200 240 Creditor’s Ledger 280 26,300 Transactions for the year ended 31.03.2012 Particulars Rs. Particulars Rs. Total Sales 1,20,100 Bills accepted by customers 20,100 Cash Sales 8,100 Bills receivable dishonoured 1,500 Total Purchases 89,500 Bills receivable discounted 5000 Credit purchases 67,000 Bills receivable endorsed to creditors 4000 Creditors paid off(in full settlement of Rs.40,000) 39,500 Endorsed bills dishonoured 1000 Received from debtors (in full settlement of Rs.59,000) 58,200 Bad-debts written off(after deducting bad debts recovered Rs.300) 2,200 Return from debtors 2600 Provision for doubtful debts 550 Return to creditors 1800 Transfer from debtor’s ledger to creditor’s ledger 1100 Bills accepted for creditors 5500 Transfer from creditor’s ledger to debtor’s ledger 1900 Bills payable matured 8000 Balance on 31.03.2012 Debtor’s Ledger (Cr.) Rs.380 Creditor’s Ledger (Dr.) Rs.420 Pass journal entries in the books of Exe Ltd both under self balancing and sectional balancing system: The sales book was found undercast by Rs.1000 Discount allowed to Rao Rs.50 correctly entered in the cash book but not posted to his account. Credit balance of Rs.310 in Murthy’s account in the Purchase Ledger was transferred to his account in the Sales Ledger.
29_Crash%20Mysore.docx