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Make ledger and trial balance for the following entries:
1) purchased goods rs. 7000, 10% trade discount and 10% credit discount.
2) sold goods rs. 30000 10% trade discount and 20% credit discount
3) paid salary rs. 3000
4) received rent RS. 9000
5) paid cash to Mahesh rs.1000
6) sold machinery rs. 100000
7) purchased machinery rs. 25000
8) withdraw cash rs.1000 for personal use?
Most Upvoted Answer
Make ledger and trial balance for the following entries:1) purchased g...
Ledger and Trial Balance

Purchased Goods
- Debit: Purchases A/c: Rs. 7000
- Credit: Trade Discount A/c: Rs. 700
- Credit: Credit Discount A/c: Rs. 6300

Sold Goods
- Debit: Trade Discount A/c: Rs. 3000
- Debit: Credit Discount A/c: Rs. 5400
- Credit: Sales A/c: Rs. 30000

Paid Salary
- Debit: Salary A/c: Rs. 3000
- Credit: Cash A/c: Rs. 3000

Received Rent
- Debit: Cash A/c: Rs. 9000
- Credit: Rent Received A/c: Rs. 9000

Paid Cash to Mahesh
- Debit: Mahesh A/c: Rs. 1000
- Credit: Cash A/c: Rs. 1000

Sold Machinery
- Debit: Trade Discount A/c: Rs. 7000
- Credit: Machinery A/c: Rs. 100000

Purchased Machinery
- Debit: Machinery A/c: Rs. 25000
- Credit: Cash A/c: Rs. 25000

Withdraw Cash for Personal Use
- Debit: Drawings A/c: Rs. 1000
- Credit: Cash A/c: Rs. 1000

Trial Balance
- Debit Total: Rs. 106000
- Credit Total: Rs. 106000
In the above ledger and trial balance, each transaction is recorded in the respective accounts to maintain accurate financial records. The trial balance ensures that the total debits equal the total credits, providing a snapshot of the company's financial position. Proper bookkeeping is essential for making informed business decisions and meeting regulatory requirements.
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Make ledger and trial balance for the following entries:1) purchased goods rs. 7000, 10% trade discount and 10% credit discount.2) sold goods rs. 30000 10% trade discount and 20% credit discount3) paid salary rs. 30004) received rent RS. 90005) paid cash to Mahesh rs.10006) sold machinery rs. 100000 7) purchased machinery rs. 250008) withdraw cash rs.1000 for personal use?
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Make ledger and trial balance for the following entries:1) purchased goods rs. 7000, 10% trade discount and 10% credit discount.2) sold goods rs. 30000 10% trade discount and 20% credit discount3) paid salary rs. 30004) received rent RS. 90005) paid cash to Mahesh rs.10006) sold machinery rs. 100000 7) purchased machinery rs. 250008) withdraw cash rs.1000 for personal use? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Make ledger and trial balance for the following entries:1) purchased goods rs. 7000, 10% trade discount and 10% credit discount.2) sold goods rs. 30000 10% trade discount and 20% credit discount3) paid salary rs. 30004) received rent RS. 90005) paid cash to Mahesh rs.10006) sold machinery rs. 100000 7) purchased machinery rs. 250008) withdraw cash rs.1000 for personal use? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Make ledger and trial balance for the following entries:1) purchased goods rs. 7000, 10% trade discount and 10% credit discount.2) sold goods rs. 30000 10% trade discount and 20% credit discount3) paid salary rs. 30004) received rent RS. 90005) paid cash to Mahesh rs.10006) sold machinery rs. 100000 7) purchased machinery rs. 250008) withdraw cash rs.1000 for personal use?.
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