Assignment and Solution Part-1 - Accounting - Ledger- Journal

Subject: Accounting 
Topic: Assignment And Solution 
Subject Code: HUM 4301
Teacher Name: SM Shahidul Islam 

Download Link

Instructor: S M Shahidul Alam

Email:  heed@email.com

Submission Deadline:  4th August 2017

(Note: If a student submits an assignment after the due date, the submission is identified as late on the Grade Assignment page. For each day late submission,

5% of total mark will be deducted.)

Total Marks: 15

Instructions to candidates for completing and submitting this assignment

You are to submit a hard copy of this assignment.

This is an individual assignment. Therefore, you are required to complete and submit this assignment individually.

This assignment will contribute 15% towards the total mark of the course.

A separate assignment cover, which has been provided already, must be attached to the front cover of each assignment. The cover page must be filled accurately.

Retain a copy of this assignment, in case the original does not satisfy the instructor.

If you fail to follow these instructions carefully, the IMM Graduate School of Marketing cannot accept responsibility for the return of the assignment. It may even result in your assignment not being marked.

Problem

Mr. Jahed has the following transactions in the month of April.

Write journal entries for the transactions below. Later, post the transactions to the general ledger.

Date	Transactions
July 1	Commenced business with cash Taka 70,000
July 3	Purchased goods from Mr. Sumon for Taka 20,000
July 5	Purchased goods for cash Taka 15000
July 7	Bought goods from Mr Habib on credit Taka 10000
July 9	Sold goods worth Taka 15,000 to Mrs Annie
July 13	Sold goods for cash Taka 5000
July 15	Goods taken by the proprietor for personal use Taka 1,000
July 19	Purchased machinery for cash Taka 18000
July 24	Returned goods to Mr Sumon Taka 4000
July 30	Total rent paid this month Taka 8000

 Tasks to do:

 1. Prepare a general journal

 2. Prepare a general ledger

Solution Download link

Mr. Jahid’s Journal for the month of April

Date	Particular	L.F	Debit Amount	Credit Amount
July 01	Cash Account               Debit        Capital account            Credit		70,000.00	70,000.00
July 03	Purchase Account       Debit   Mr. Sumon Account   Credit		20,000.00	20,000.00
July 05	Purchase Account       Debit Cash Account             Credit		15,000.00	15,000.00
July 07	Purchase Account       Debit          Mr. Habib   Account   Credit		10,000.00	10,000.00
July 09	Mrs. Anni    Account        Debit        Sale Account                   Credit		15,000.00	15,000.00
July 13	Cash Account     Debit                                        Sale Account       Credit		5,000.00	5,000.00
July 15	Withdrawn Account    Debit                  Cash Account             Credit		1,000.00	1,000.00
July 19	Machinery Account     Debit Cash Account              Credit		18,000.00	18,000.00
July 24	Mr. Sumon Account                  Debit   Purchased Returned Account   Credit		4,000.00	4,000.00
July 30	Rent Account                 Debit                          Cash Account                  Credit		8,000.00	8,000.00
Total Amount			166,000	166,000

 

Ledger

Cash Account

Date	Particular	J.F	Debit	Date	Particular	J.F	Credit
July 1	Capital Account		70,000.00	July 5	Purchase Account		15,000.00
July13	Sale Account		5,000.00	July 15	Withdrawn Account		1,000.00
				July 19	Machinery Account		18,000.00
				July 30	Rent Account		8,000.00
				July31	Balance                                C/D		33,000.00
	Total Amount		75,000.00		Total Amount		75,000.00
Aug 1	Balance                          B/D		33,000.00

Capital Account

Date	Particular	J.F	Debit	Date	Particular	J.F	Credit
July31	Balance                          C/D		70,000.00	July 1	Cash Account		70,000.00
	Total Amount		70,000.00		Total Amount		70,000.00
				Aug 1	Balance                                B/D		70,000

Purchase Account

Date	Particular	J.F	Debit	Date	Particular	J.F	Credit
July 3	Mr. Sumon Account		20,000.00	July 24	Mr. Sumon Account		4,000.00
July 5	Cash Account		15,000.00	July 31	Balance                                C/D		41,000.00
July 7	Mr. Habib		10.000.00
	Total Amount		45,000.00		Total Amount		45,000.00
Aug 1	Balance                          B/D		41,000.00

Mr. Sumon Account

Date	Particular	J.F	Debit	Date	Particular	J.F	Credit
July24	Purchased return Account		4,000.00	July 3	Purchase Account		20,000.00
July 31	Balance                          C/D		16,000.00
	Total Amount		20,000.00		Total Amount		20,000.00
				Aug 1	Balance                                B/D		16,000.00

Mr. Habib Account

Date	Particular	J.F	Debit	Date	Particular	J.F	Credit
July31	Balance                         C/D		10,000.00	July 07	Purchase Account		10,000.00
	Total Account		10,000.00		Total Account		10,000.00
				Aug1	Balance                                B/D		10,0000.00

Mrs. Annie Account

Date	Particular	J.F	Debit	Date	Particular	J.F	Credit
July 9	Sale Account		15,000.00	July31	Balance C/D		15,000.00
	Total Amount		15,000.00		Total Amount		15,00.00
Aug 1	Balance B/D		15,000.00

Sale Account

Date	Particular	J.F	Debit	Date	Particular	J.F	Credit
July31	Balance                          C/D		20,000.00	July 9	Mrs. Annie Account		15,000.00
				July	Cash Account		5,000.00
	Total Amount		20,000.00		Total Amount		20,000.00
				Aug 1	Balance                                B/D		20,000.00

Withdrawn Account

Date	Particular	J.F	Debit	Date	Particular	J.F	Credit
July15	Cash Account		1,000.00	July 9	Balance                                C/D		1,000.00
	Total Amount		1,000.00		Total Amount		1,000.00
Aug 1	Balance                          B/D		1,000.00

Machinery Account

Date	Particular	J.F	Debit	Date	Particular	J.F	Credit
July19	Cash Account		18,0000.00	July 9	Balance                             C/D		18,000.00
	Total Amount		18,0000.00		Total Amount		18,000.00
Aug 1	Balance                         B/D		18,0000.00

Rent Account

Date	Particular	J.F	Debit	Date	Particular	J.F	Credit
July30	Cash Account		8,000.00	July 9	Balance                             C/D		8,000.00
	Total Amount		8,000.00		Total Amount		8,000.00
Aug1	Balance                         B/D		8,000.00