MANUAL ACCOUNTING

PRACTICAL ACCOUNTING Page 0

CHAPTER 1 - ASSIGNMENTS

4.1 Assignment 1

Classify the following into Personal, Real and Nominal Accounts:

Account Personal / Real / Nominal

Cash

Capital

Wages

Building

Rent

Interest received

Investment

Drawings

Machinery

Motor Bike

Josepin

Discount

Sundry Debtors

Cash at Bank

Postage& Telegram

Sundry Creditors

Goodwill

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 Stock

Furniture

Dividend Received

Purchases

Sales

Carriage Inward

Assignment 2

Name the two accounts involved in each of the following transactions:

Account 1 Account 2
Received cash from Dibin

Purchased goods from Priya on credit

Paid cash to Priya

Sold goods for cash

Paid salary

Received dividend by cheque

Bought machinery from Sanitha

Sold goods to Shanti Stores

Sold old furniture for cash

Received commission in cash

Withdrawal of goods by proprietor

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 Paid telephone charges

Paid carriage on purchases

Returned goods to Priya

Goods returned by Saravana Stores

4.2 Assignment 3

Ascertain debits and credits in the below mentioned transactions:

a) Started business with cash;

b) Purchased goods for cash;
c) Paid Sanjay by cheque;
d) Purchased goods on credit from Paul;
e) Sold goods for cash;
f) Sold goods to Aleena on credit;
g) Paid salary to the cashier;
h) Received dividend;
i) Received cash from Varna.

4.3 Assignment 4

Name the accounts to be debited and credited of the following transactions:

Sl. No. Transactions Debit / Credit

Debit –
1 Capital introduced into business
Credit –

Debit –
2 Purchased goods for cash
Credit –

Debit –
3 Sold goods to Santhosh
Credit –

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 Debit –
4 Deposited cash into bank
Credit –

Debit –
5 Sold goods for cash
Credit –

Debit –
6 Withdrew cash from bank
Credit –

Debit –
7 Cheque deposited into bank
Credit –

Debit –
8 Paid travelling expenses
Credit –

Debit –
9 Withdrew cash for personal use
Credit –

Debit –
10 Withdrew cash from bank for personal use
Credit –

Debit –
11 Received interest from bank
Credit –

Purchased furniture from M/s Royal Debit –

12
Furniture
Credit –

CHAPTER 5 - ASSIGNMENTS

5.1 Assignment 1

Journalize the following transactions in the books of Mr. Sethi: Rs.

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 2014 1 Commenced business with cash 25,000
April
1 Opened a bank account by depositing cash 40,000

2 Purchased goods on credit from Geo 5,000

3 Purchased machinery for cash 8,000

4 Withdrew cash from Bank 10,000

5 Purchased office equipment by cash 2,000

6 Purchased goods for cash from John 4,000

9 Purchased goods for cash 1,200

10 Sold goods on credit to Roy 6,000

12 Purchased stationery for cash 200

14 Paid insurance premium 1,000

15 Withdrew cash from Bank 3,000

17 Paid to Geo 5,000

19 Sold goods for cash to Dibin 4,000

20 Deposited cash into Bank 2,000

25 Paid rent for the month of April 200

30 Withdrew cash from business for personal use 1,000

30 Paid salaries to clerks 700

30 Paid telephone charges 700

5.2 Assignment 2

Journalize the following transactions: Rs.

a) Started business with cash 80,000

b) Deposited cash into bank 42,000

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 c) Purchased goods by cheque 30,000
d) Withdrew cash from bank for office use 8,000
e) Purchased goods from Nancy 30,000
f) Cash sales 80,000
g) Sold goods to Akhil 46,000
h) Received cash from Akhil 30,000
i) Withdrew cash from bank for personal use 20,000
j) Paid electric bill by cash 5,000
k) Taken loan from Dinny by cheque 1,80,000
l) Purchased computer for office use by cheque 1,00,000
m) Purchased computer for resale 1,20,000
n) Paid interest on loan to Dinny 3,600
o) Repaid part of his loan to Dinny 1,00,000

5.3 Assignment 3

Journalize the following transactions: Rs.

a) Commenced business with cash 2,00,000

b) Purchased goods by cash 1,00,000
c) Goods sold for cash 1,40,000
d) Deposited cash into bank 2,00,000
e) Sold goods to Sanu 2,40,000
Purchased goods from Anu 1,60,000
g) Amount received from Sanu by cheque 2,00,000
h) Withdrew cash from bank for office use 80,000
Paid telephone bill by cheque 6,000
Paid salary by cheque 30,000

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 5.4 Assignment 4

Journalize the following transactions in the books of Amaranth & Bros.:

2014 Particulars Rs.

Apr. 1 Started business with cash 40,000

2 Brought in business household furniture 6,000

3 Purchased goods in cash 8,000

4 Paid carriage in cash 1,000

5 Purchased furniture on credit from M/s Royal 4,200

Furniture

6 Purchased machine in cash 3,800

7 Sold goods in cash 12,600

8 Sold goods on credit 9,000

9 Paid cash to vendor 6,400

10 Received cash from customer 9,400

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