Friday, January 27, 2012

Solution for the Ledger Posting Exercise - 1

Solution to the problem - Ledger Posting Exercise 1
Status of Accounts in Ledger after Posting the Entries from the Journal up to 31 January 1992                                  
 
                                                    Ledger Account:
                                                           
                                                            Cash
   
Dr.                                                                                                                                    Cr.
Date Account Name Amount
Rs.		 Date Account Name Amount
Rs.
1992
Jan 1		 To Capital A/c
1,00,000
 1992 Jan 1 By Bank A/c
20,000
Jan 15 To Sales A/c
9,000
 Jan 1 By Purchases A/c
70,000
Jan 31 By Rent A/c
2,000
Jan 31 By Wages A/c
3,000
Jan 31 By Drawals A/c
5,000
       
                                            Ledger Account:
                                                      Capital
   
Dr.                                                                                                                                    Cr.
Date Account Name Amount
Rs.		 Date Account Name Amount
Rs.
1992
Jan 1		 By Cash A/c
1,00,000
                   
                                                Ledger Account: Bank Account
   
Dr.                                                                                                                                    Cr.
Date Account Name Amount
Rs.		 Date Account Name Amount
Rs.
1992 Jan 1 To Cash A/c 20,000
Jan 21 To Rahul  A/c 35,000
   
                                               Ledger Account: Purchases Account
   
Dr.                                                                                                                                    Cr.
Date Account Name Amount
Rs.		 Date Account Name Amount
Rs.
1992 Jan 1 To Cash A/c 70,000
     
                                               Ledger Account: Sales Account
   
Dr.                                                                                                                                    Cr.
Date Account Name Amount
Rs.		 Date Account Name Amount
Rs.
1992 Jan 2 By Rahul & Co. A/c
38,000
Jan 15 By Cash A/c
9,000
           
Ledger Account: Rahul & Co. Account
   
Dr.                                                                                                                                    Cr.
Date Account Name Amount
Rs.		 Date Account Name Amount
Rs.
1992 Jan 1 To Sales A/c 38,000 1992 Jan 21 By Bank a/c 35,000
       
Ledger Account: Rent Account
   
Dr.                                                                                                                                    Cr.
Date Account Name Amount
Rs.		 Date Account Name Amount
Rs.
1992 Jan 31 To Cash A/c 2,000
     
Ledger Account: Wages Account
   
Dr.                                                                                                                                    Cr.
Date Account Name Amount
Rs.		 Date Account Name Amount
Rs.
1992 Jan 31 To Cash A/c 3,000
             
Ledger Account: Drawals Account
   
Dr.                                                                                                                                    Cr.
Date Account Name Amount
Rs.		 Date Account Name Amount
Rs.
1992 Jan 31 To Cash A/c 5,000
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