Tuesday, November 6, 2007
work sheet
1. State which account is to be debited and which account is to be credited for each of the following transaction.
Transactions
2. From the following transactions prepare Sumana a/c.
3. From the following transactions prepare Capital a/c.
6. Prepare Furniture account from the following.
April 1 Balance of chair a/c 4500 April 1 Balance of Table a/c 5500
April 2 Bought chairs from Kris 4000 April 3 Bought table from Kris 7000
April 4 Bought table for cash 1200 April 5 Bought chairs for cash 8200
April 6 Bought table from Pal 2310 April 6 Bought table for cash 230
April 8 Sold a table for cash 1200 April 10 Sold a table to Kris 1400
April 14 Donated a chair to the club 300 April 14 Bought table from Pal 3000
April 20 Bought table for cash 450 April 25 Bought almirah for cash 4500
April 29 Bought almirah by Cheque 4000 April 29 Bought chairs from Kris 3000
7. From the following prepare Subscription a/s and cash a/c.
Jan 1 Collected subscription 1250 Jan 3 Received subscription from Pal 100
5 Collected subscription 340 7 Collected subscription 450
9 Collected subscription 400 13 Refunded subscription 250
8. From the following prepare necessary accounts and balance them.
January 1 Balance of Cash account $ 30,000
Balance of Bank account $ 60,000
Balance of Capital account $ 420,000
Balance of Purchases account $ 27,000
“ 4 Further capital introduced by cash $ 45000
“ 8 Cash deposited into bank $ 3400
“ 10 Cash purchases $ 4500
“ 12 Cash withdrawn from bank for business use $ 3100
“ 20 Further capital introduced by Cheque $ 34000
“ 23 Goods purchases by Cheque $ 1200
9. From the following prepare necessary accounts and balance them.
March 1 Balance of cash account $ 45000
3 Purchases by cash $ 3000
4 Opened a bank account with $ 12000
7 Cash deposited into bank $ 2000
8 Goods purchases and paid by Cheque $ 2300
9 Goods sold banked $ 1200
10 Goods sold by cash $ 250
12 Goods purchased from Pal $ 3100
13 Goods sold to Kris $ 4590
14 Paid to Pal by Cheque $ 3000
18 received from Kris $v 5000
20 Sold to Kris $ 2000
21 Received a Cheque from Kris and deposited into bank $ 2100
25 Purchased from Pal and paid by Cheque $ 1200
27 Cash deposited into bank $ 2500
10. Which account is to be debited and which account is to be credited for each of the following transaction.
Opened Bank account Deposited cash into bank
Deposited Cheque into bank Withdrawn cash from bank
Bank paid interest Bank charges
Withdrawn cash from bank for personal use Withdrawn from bank for office use
Received loan from Kris Paid for purchasing furniture
Taken loan from Pal Paid for postage
Received commission on sales Bought stationery
Paid office cleaning charges Cheques deposited in to bank
Cash sales to Kris Received a Cheque from Bimal
Next day deposited Bimal’s Cheque into bank Donation to club
Cheques received from Bimal and deposited Bimal’s Cheque returned dishonored
Cheques issued to Charisma Charisma’s Cheque returned by bank for technical cause
With drawn for office use Withdrawn for personal purpose
Cash Drawings Business furniture taken by the owner
Business stared with cash, furniture, machinery and building Goods drawn by the owner.
Transactions
- Bought furniture for cash Bought Machinery for cash
- Sold goods for cash Bought goods for cash
- Sold old furniture for cash Paid rent
- Paid salary Received interest
- Received commission Paid wages
- Paid electric bills Received dividend
- Received rent Paid taxi fare
- Received audit fees Bought goods from Rakesh on credit
- Sold goods to Rahim Cash purchases from Rakesh
- Cash sales to Mitali Returned goods to Malini
- Returned goods from Rakesh Bought goods from madman on credit
- Sold goods for cash Sold to Pal on credit
- Bought goods for cash Cash sales
- Cash purchases Paid to madman
- Received from Ram Paid to Malini
- Paid to Rakesh Received from Bimal
- Bought furniture for cash Bought Machinery from Pal far cash
- Sold old furniture Bought computer from Bimal
- Bought live stock Bought motor car from Ram
- Sold old machine to Pal Started business with capital
- Paid to the proprietor for his personal use Donated cash to flood fund
- Paid for Charities Paid income tax
- Paid sales tax Paid for buying a book for the proprietor’s use
2. From the following transactions prepare Sumana a/c.
- 8th March, 2006 Sold goods to Sumana 8000
- 10th march, 2006 Received cash from Sumana 4500
- 14th march, 2006 Sold goods to Sumana 7800
- 16th march, 2006 Sold goods to Sumana 6800
- 18th march, 2006 Received cash from Sumana 3245
- 19th march, 2006 Sold goods to Sumana 4322
- 22th march, 2006 Received Cheque from Sumana 6500
- 24th march, 2006 Sumana’s Cheque deposited in to bank 6500
3. From the following transactions prepare Capital a/c.
- 1st January Balance of capital account 5000
- 31st March Further capital introduced 5400
- 24th may Withdrawn out of capital 600
- 31st December Net profit 1200
- 31st December Cash withdrawn out of capital 4000
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6. Prepare Furniture account from the following.
April 1 Balance of chair a/c 4500 April 1 Balance of Table a/c 5500
April 2 Bought chairs from Kris 4000 April 3 Bought table from Kris 7000
April 4 Bought table for cash 1200 April 5 Bought chairs for cash 8200
April 6 Bought table from Pal 2310 April 6 Bought table for cash 230
April 8 Sold a table for cash 1200 April 10 Sold a table to Kris 1400
April 14 Donated a chair to the club 300 April 14 Bought table from Pal 3000
April 20 Bought table for cash 450 April 25 Bought almirah for cash 4500
April 29 Bought almirah by Cheque 4000 April 29 Bought chairs from Kris 3000
7. From the following prepare Subscription a/s and cash a/c.
Jan 1 Collected subscription 1250 Jan 3 Received subscription from Pal 100
5 Collected subscription 340 7 Collected subscription 450
9 Collected subscription 400 13 Refunded subscription 250
8. From the following prepare necessary accounts and balance them.
January 1 Balance of Cash account $ 30,000
Balance of Bank account $ 60,000
Balance of Capital account $ 420,000
Balance of Purchases account $ 27,000
“ 4 Further capital introduced by cash $ 45000
“ 8 Cash deposited into bank $ 3400
“ 10 Cash purchases $ 4500
“ 12 Cash withdrawn from bank for business use $ 3100
“ 20 Further capital introduced by Cheque $ 34000
“ 23 Goods purchases by Cheque $ 1200
9. From the following prepare necessary accounts and balance them.
March 1 Balance of cash account $ 45000
3 Purchases by cash $ 3000
4 Opened a bank account with $ 12000
7 Cash deposited into bank $ 2000
8 Goods purchases and paid by Cheque $ 2300
9 Goods sold banked $ 1200
10 Goods sold by cash $ 250
12 Goods purchased from Pal $ 3100
13 Goods sold to Kris $ 4590
14 Paid to Pal by Cheque $ 3000
18 received from Kris $v 5000
20 Sold to Kris $ 2000
21 Received a Cheque from Kris and deposited into bank $ 2100
25 Purchased from Pal and paid by Cheque $ 1200
27 Cash deposited into bank $ 2500
10. Which account is to be debited and which account is to be credited for each of the following transaction.
Opened Bank account Deposited cash into bank
Deposited Cheque into bank Withdrawn cash from bank
Bank paid interest Bank charges
Withdrawn cash from bank for personal use Withdrawn from bank for office use
Received loan from Kris Paid for purchasing furniture
Taken loan from Pal Paid for postage
Received commission on sales Bought stationery
Paid office cleaning charges Cheques deposited in to bank
Cash sales to Kris Received a Cheque from Bimal
Next day deposited Bimal’s Cheque into bank Donation to club
Cheques received from Bimal and deposited Bimal’s Cheque returned dishonored
Cheques issued to Charisma Charisma’s Cheque returned by bank for technical cause
With drawn for office use Withdrawn for personal purpose
Cash Drawings Business furniture taken by the owner
Business stared with cash, furniture, machinery and building Goods drawn by the owner.
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