16 transactions with their journal entries, ledger, trial
balance
Hedayatullah Mangal, 2nd Semester student, Brains Institute, 12/2/2021
For this assignment I have collected the data of NRC India Company, where I am working for, a firm for a particular
financial year which is humanitarian origination. With those transactions, I proceed for my assignment o1. Begin with
journalizing those transactions, posted them to Ledger Accounts, and prepared a Trial Balance, Trading & Profit &
Loss Account and the company's Balance Sheet. For your convenience, I provide you with an extract.
Following are a 16 transactions of NRC India consisting of 16 transactions along with Journal entries, Ledgers, Trial
Balance, Financial Statements along with some of the ledgers.
Note: This data is confidential and should not be shared with any other third partner, and based on policy I am only
subject to receive 16 transaction no more, this transaction is also for NRC India, if shared will be audit finding for
me.
The following are the transactions of NRC.
Date Particulars
2020
April 1 Rajesh started his business with cash Rs 1,00,000
April 10 Rajesh opened an account in a bank with cash Rs 30,000
May 10 Purchased goods from Mohan Singh on credit Rs 40,000 and also paid carriage of Rs 2,000
May 20 Sold goods to Rajeev Rs 20,000
May 25 Due to some quality defect Mohan Singh returned goods of Rs 10,000
June 15 Sold goods to Ayesha for Rs 70,000
June 30 Paid rent of Rs 10,000
Aug.31 Purchased Furniture for cash of Rs 8,000
Sept.10 Paid through a cheque of Rs 5,000 for advertisement
Oct.05 Withdrawn Rs 6,000 from Bank for personal use
Nov.30 Recovered Rs 65,000 from Ayesha in full settlement of his account
Dec.12 Goods costing Rs 1,000 donated to NGO
Dec.31 Salaries paid to employees Rs 15,000
2020
Jan.15 Interest received from Bank Rs 2,000
Feb.10 Rajeev has become insolvent Rs 80 paisa in the rupees on a debt of Rs 20,000 was recovered as
a compensation
Feb. 12 Stock of good at end of the year is Rs 32,000
Journalize above transaction, post them in ledgers, and prepare Trial Balance and Financial Statements for year ending
February 12, 2022
Books of NRC
Journal
Debit Credit
Date Particulars L.F. Amount Amount
(Rs) (Rs)
2020
April 01 Cash A/c Dr. 1,00,000
To Capital A/c 1,00,000
(Business started with cash of Rs 1,00,000)
April 10 Bank A/c Dr. 30,000
To Cash A/c 30,000
(Opened a Bank Account)
May 10 Purchase A/c Dr. 40,000
To Mohan Singh 40,000
(Goods Purchased on credit)
May 10 Carriage A/c Dr. 2,000
To Cash A/c 2,000
(Carriage paid on purchase of goods)
May 20 Rajeev Dr. 20,000
To Sales A/c 20,000
(Goods sold to Rajeev)
May 25 Mohan Singh Dr. 10,000
To Purchase Return A/c 10,000
(Goods returned by Mohan Singh)
June 15 Ayesha Dr. 70,000
To Sales A/c 70,000
(Goods Sold to Ayesha)
June 30 Rent A/c Dr. 10,000
To Cash A/c 10,000
(Rent Paid)
Aug.31 Furniture A/c Dr. 8,000
To Cash A/c 8,000
(Furniture purchased)
Sept.10 Advertisement A/c Dr. 5,000
To Bank A/c 5,000
(Advertisement expenses paid through
cheque)
Oct.05 Drawing A/c Dr. 6,000
To Bank 6,000
(Withdrawn from bank for personal use)
Nov.30 Cash A/c Dr. 65,000
Discount Allowed A/c Dr. 5,000
To Ayesha 70,000
(Recovered from Ayesha in full settlement of his
account)
Dec.12 Donation A/c Dr. 1,000
To Purchases A/c 1,000
(Goods of Rs 1,000 donated to NGO)
Dec.31 Salaries A/c Dr. 15,000
To Cash A/c 15,000
(Salaries Paid to employees)
2021
Jan.15 Bank A/c Dr. 2,000
To Interest A/c 2,000
(Interest received)
Feb.10 Cash A/c Dr. 16,000
Bad debt A/c Dr. 4,000
To Rajeev A/c 20,000
(Cash compensation of 80 paise in the
rupees received from Rajeev)
Mar 31 Closing Stock A/c Dr. 32,000
To Trading A/c 32,000
(Closing stock transferred in account)
Cash Account
Dr. Cr.
Amount Amount
Date Particulars J.F. Date Particulars J.F.
(Rs) (Rs)
2020 2020
April.01 Capital A/c 1,00,000 April 10 Bank A/c 30,000
Nov.30 Ayesha 65,000 May 10 Carriage A/c 2,000
2021 June 30 Rent A/c 10,000
Feb.10 Noor 16,000 Aug.31 Furniture A/c 8,000
Dec.31 Salaries A/c 15,000
2021
Mar.31 Balance c/d 1,16,000
1,81,000 1,81,000
Bank A/c
Dr. Cr.
Amount Amount
Date Particulars J.F. Date Particulars J.F.
(Rs) (Rs)
2020 2020
April 10 Cash A/c 30,000 Sept.10 Advertisement A/c 5,000
Oct.05 Drawings A/c 6,000
2021 2021
Jan.15 Interest A/c 2,000 Mar.31 Balance c/d 21,000
32,000 32,000
Mohan Singh
Dr. Cr.
Amount Amount
Date Particulars J.F. Date Particulars J.F.
(Rs) (Rs)
2020 2020
May 25 Purchase Return 10,000 May 10 Purchases A/c 40,000
2020
Mar 31 Balance c/d 30,000
40,000 40,000
Purchases A/c
Dr. Cr.
Amount Amount
Date Particulars J.F. Date Particulars J.F.
(Rs) (Rs)
2020 2020
May 10 Mohan Singh 40,000 Dec.12 Donation A/c 1,000
2021
Mar.31 Balance c/d 39,000
40,000 40,000
Bad Debts A/c
Dr. Cr.
Amount Amount
Date Particulars J.F. Date Particulars J.F.
(Rs) (Rs)
2021 2021
Feb.10 Rajeev 4,000 Mar.31 Balance c/d 4,000
4,000 4,000
Trial Balance as at March 31, 2021
Debit Credit
S.No. Name of Accounts L.F. Amount Amount
(Rs) (Rs)
1 Cash A/c 1,16,000
2 Capital A/c 1,00,000
3 Bank A/c 21,000
4 Purchases A/c 39,000
5 Sales A/c 90,000
6 Purchases Return A/c 10,000
7 Mohan Singh 30,000
8 Carriage A/c 2,000
9 Rent A/c 10,000
10 Furniture A/c 8,000
11 Advertisement A/c 5,000
12 Drawings A/c 6,000
13 Discount Allowed A/c 5,000
14 Donation A/c 1,000
15 Salaries A/c 15,000
16 Interest A/c 2,000
17 Bad Debts A/c 4,000
2,32,000 2,32,000
Financial Statements for the year ended March 31, 2021
Trading Account
Dr. Cr.
Amount Amount
Particulars Particulars
(Rs) (Rs)
Purchases 39,000 Sales 90,000
Less: Purchases Return (10,000) 29,000 Closing Stock 32,000
Carriage 2,000
Gross Profit (Balancing Figure) 91,000
1,22,000 1,22,000
Profit and Loss Account
Dr. Cr.
Amount Amount
Particulars Particulars
(Rs) (Rs)
Rent 10,000 Gross Profit 91,000
Advertisement 5,000 Interest 2,000
Discount Allowed 5,000
Donations 1,000
Salaries 15,000
Bad Debts 4,000
Net Profit (Balancing Figure) 53,000
93,000 93,000
Balance Sheet
as on March 31, 2021
Amount Amount
Liabilities (Rs) Assets (Rs)
Capital 1,00,000 Fixed Assets :
Less: Drawings (6,000) Furniture 8,000
Add: Net Profit 53,000 1,47,000
Current Assets :
Current Liabilities : Cash 1,16,000
Creditors: Bank 21,000
Mohan Singh 30,000 Closing Stock 32,000
1,77,000 1,77,000
