From the following details prepare Journal Entry and Ledger.

Date (2017)

Details

Amount

Dec 01

Business started with cash

1,20,000

Dec 02

Opened a bank account with ICICI

40,000

Dec 04

Goods purchased for cash

12,000

Dec 10

Paid cartage

500

Dec 12

Goods sold on credit to M/s Lara India

25,000

Dec 14

Cash received from M/s Lara India

10,000

Dec 16

Goods returned from Lara India

3000

Dec 18

Paid trade expenses

700

Dec 19

Goods purchased on credit from Taranum

32,000

Dec 20

Cheque received from M/s Lara India for final settlement and deposited same day into bank

11,500

Dec 22

Goods returned to Taranum

1,500

Dec 24

Paid for stationery

1,200

Dec 26

Cheque given to Taranum on account

20,000

Dec 28

Paid rent by cheque

4,000

Dec 29

Drew cash for personal use

10,000

Dec 30

Cash Sales

12,000

Dec 31

Goods sold to M/s Rupak traders

11,000

CIII- 10 Marks

Prepare Trial Balance from the following details of Ms M Afzal:

Drawings 74,800

Purchases 2, 95,700

Stock (1.04.2011) 30,000

Bills receivable52,500

Capital2, 50,000

Furniture 33,000

Discount allowed 950

Sales 3, 35,350

Rent72,500

Freight3,500

Printing charges1,500

Sundry creditor's75,000

Insurance 2,700

Sundry expenses 21,000

Discount received 1,000

Bank Loan 1, 20,000

Stock (31.03.2012) 17,000

Income tax 9,500

Machinery 2, 15,400

Bills payable 31,700