Chapter 1: Practical Problems of Accounts for B.Com First Year (Kalyani Publishers)

There are several practical problems given in this chapter that cover various topics related to accounting. Let's discuss some of the solutions to these problems.

Problem 1: Prepare a trial balance from the following ledger balances:

Cash: Rs. 5000
Bank: Rs. 10000
Purchases: Rs. 12000
Sales: Rs. 15000
Rent: Rs. 5000
Wages: Rs. 3000

Solution:
Trial Balance as on ___________

| Particulars | Debit (Rs.) | Credit (Rs.) |
| --- | --- | --- |
| Cash | 5000 | - |
| Bank | 10000 | - |
| Purchases | 12000 | - |
| Sales | - | 15000 |
| Rent | 5000 | - |
| Wages | 3000 | - |
| Total | 35000 | 15000 |

Problem 2: Prepare a cash book from the following transactions:

Jan 1: Cash in hand Rs. 5000, Bank balance Rs. 10000
Jan 3: Paid rent Rs. 2000 by cheque
Jan 5: Purchased goods for cash Rs. 3000
Jan 7: Sold goods for cash Rs. 5000
Jan 10: Deposited Rs. 5000 in bank
Jan 15: Paid wages Rs. 1000 by cheque
Jan 20: Received Rs. 2000 from debtors
Jan 25: Withdrew Rs. 1000 from the bank for personal use

Solution:
Cash Book

| Date | Particulars | L.F. | Receipts (Rs.) | Payments (Rs.) | Balance (Rs.) |
| --- | --- | --- | --- | --- | --- |
| 1-Jan | Cash | - | 5000 | - | 5000 |
| 1-Jan | Bank | - | 10000 | - | 15000 |
| 3-Jan | Rent | 1 | - | 2000 | 13000 |
| 5-Jan | Purchases | 2 | 3000 | - | 16000 |
| 7-Jan | Sales | 3 | 5000 | - | 21000 |
| 10-Jan | Bank | 4 | 5000 | - | 26000 |
| 15-Jan | Wages | 5 | - | 1000 | 25000 |
| 20-Jan | Debtors | 6 | 2000 | - | 27000 |
| 25-Jan | Personal | 7 | - | 1000 | 26000 |
| Total | - | - | 22500 | 6000 | 26000 |

Problem 3: Prepare a ledger account of Mr. X from the following transactions for the month of January 2021:
Jan 1: Balance brought forward Rs. 5000
Jan 5: Sold goods to Y for Rs. 2000
Jan 10: Received cash from Y Rs. 1000
Jan 15: Paid rent Rs. 1000
Jan 20: