Page 87 - ISCDEBK-XI

13.4 Double Entry Book Keeping—ISC XI

Working Notes:

1. JOURNAL
Date Particulars J.F. Dr. (`) Cr. (`)
Cash A/c ...Dr. 50,000
To Loan A/c 50,000
(Being received a loan from K.G. Gupta)
A. Lal & Co. ...Dr. 20,000
Bank A/c ...Dr. 30,000
To Cash A/c 50,000
(Being the payment to creditors ` 20,000 and balance of the loan,
` 30,000 deposited into bank)
Cash A/c ...Dr. 5,000
To Vijay Sales 5,000
(Being the amount received from debtors)
Purchases A/c ...Dr. 20,000
To Vikas Trading Co. 20,000
(Being the goods purchased on credit)
Amit & Co. ...Dr. 15,000
To Sales A/c 15,000
(Being the goods sold on credit)

2. Ledger
Dr. CASH ACCOUNT Cr.

Date Particulars J.F. ` Date Particulars J.F. `
To Loan A/c 50,000 By A. Lal & Co. 20,000
To Vijay Sales 5,000 By Bank A/c 30,000
By Balance c/d 5,000
55,000 55,000

Dr. LOAN ACCOUNT Cr.
Date Particulars J.F. ` Date Particulars J.F. `

To Balance c/d 50,000 By Cash A/c 50,000
50,000 50,000

Dr. A. LAL & CO. Cr.
Date Particulars J.F. ` Date Particulars J.F. `
To Cash A/c 20,000 By Balance b/d 20,000

Dr. B. BABU & CO. Cr.
Date Particulars J.F. ` Date Particulars J.F. `
To Balance c/d 25,000 By Balance b/d 25,000