Prepare a Journal Entry, LedgerA/c, Trial Balance,Profit &loss A/c, & Balance sheet

Cash introduced to business by Mr. sivakumar for Rs.100000. Purchase of machinery of Rs.20000 by cash. Purchase of computer of rs.25000 by cash. Cash sales of Rs.200000. Salary paid by cash of Rs.50000. Rent paid by cash of Rs. 7000. Purchase return of machinery of Rs. 5000. Sales return of goods of Rs.15000. Prepare Journal entry, separate ledger balance and prepare trial balance, profit & loss A/c, Balance sheet.

Pavithra from India

Journal Entries

1. Cash Account Dr. 100000

Capital Account Cr. 100000

2. Machinery Account Dr. 20000

Cash Account Cr. 20000

3. Computer Account Dr. 25000

Cash Account Cr. 25000

4. Cash Account Dr. 200000

Sale Account Cr. 200000

5. Salary Account Dr. 50000

Cash Account Cr. 50000

6. Rent Account Dr. 7000

Cash Account Cr. 7000

7. Cash Account Dr. 5000

Machinery Account Cr. 5000

8. Sale Return Account Dr. 15000

Cash Account Cr. 15000

Above are the journal entries of your given transactions. Now, you will create ledger accounts. For this, you should learn ledger examples. After this, you will have to make trial balance, for making trial balance, please learn this tutorial. In end, you will make the profit and loss account and balance sheet from trial balance.






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Accounting Education: Prepare a Journal Entry, LedgerA/c, Trial Balance,Profit &loss A/c, & Balance sheet
Prepare a Journal Entry, LedgerA/c, Trial Balance,Profit &loss A/c, & Balance sheet
Accounting Education
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