FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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The following transactions relate to Pat’s business for the month of December 2019.
1.12.19 Started the business with Rs.10000 in cash.
2.12.19 Bought goods on credit from the following suppliers:
Grass Rs.6000
Seed Rs.7000
10.12.19 Sold goods on credit to the following customers:
Fog Rs.3000
Mist Rs.4000
12.12.19 Returned goods to the following suppliers:
Grass Rs.1000
Seed Rs.2000
15.12.19 Bought additional goods on credit from Grass for Rs.3000 and from Seed for
Rs.4000.
20.12.19 Sold more goods on credit to Fog for Rs. 2000 and to Mist for Rs. 3000.
24.12.19 Paid office expenses of Rs. 5000 in cash.
29.12.19 Received Rs. 4000 in cash from Fog and Rs. 6000 in cash from Mist.
31.12.19 Pat paid Grass and Seed Rs. 6000 and Rs.8000, respectively, in cash.
You are required to:
Enter the above transactions in Pat’s journal and ledger accounts and compile a
balance
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