Journal Entries

Date Particulars L.F. Dr. Amount Cr. Amount

2022
April 1 Cash A/c ---------------------- Dr 4,00,000
To Capital A/c 4,00,000
(Being business started with cash)
April 1 Bank A/c ------------------ Dr 3,00,000
To Bank Loan A/c 3,00,000
(Being loan taken from Bank of Baroda)
April 1 Buildings A/c ----------------Dr 2,00,000
To Bank A/c 2,00,000
(Being buildings purchased)
April 1 Machinery A/c ------------- Dr 70,000
To Bank A/c 70,000
(Being Machinery purchased)
April 1 Legal Expenses A/c --------- Dr 2,500
To Bank A/c 2,500
(being legal expenses paid for PAN, TAN, GSTIN)
April 1 Security Deposit with Electricity Board A/c --- Dr 5,000
Security Deposit with BSNL A/c ------- Dr 2,000
To Bank A/c 7,000
(Being Security money is deposited)
May 1 Bank A/c ---------------- Dr 2,50,000
To Capital A/c 2,50,000
(Being Additional capital deposited into bank)
June 30 Bank Loan A/c ---------------- Dr 1,00,000
Interest on Loan A/c ---- Dr 10,000
To Bank A/c 1,10,000
(Being Loan repaid along with Interest)
Sept 30 Bank Loan A/c ---------------- Dr 1,00,000
Interest on Loan A/c ---- Dr 7,500
To Bank A/c 1,07,500
(Being Loan repaid along with Interest)
Dec 31 Bank Loan A/c ---------------- Dr 1,00,000
Interest on Loan A/c ---- Dr 5,000
To Bank A/c 1,05,000
(Being Loan repaid along with Interest)
Mar 31 Bank A/c ---------------- Dr 35,00,000
To Sales A/c 35,00,000
(Being goods sold for cash)
Mar 31 Purchases A/c ---------- Dr 15,00,000
To Bank A/c 15,00,000
(Being goods purchased)
Mar 31 Electricity Expenses A/c ----------- Dr 50,000
Telephone Expenses A/c ----------- Dr 50,000
Cartage Inwards A/c -------------- Dr 10,000
Cartage Outwards A/c ----------- Dr 15,000
Travelling Expenses A/c ---------- Dr 25,000
Maintenance Expenses A/c ---- Dr 50,000
Misc. Expenses A/c -------------- Dr 20,000
To Bank A/c 2,20,000
(Being expenses paid)
Mar 31 Electricity Expenses A/c ----- Dr 20,000
To Outstanding Electricity Expenses A/c 20,000
(Being electricity expenses payable)
Mar 31 Drawings A/c ----------------- Dr 84,000
 To Bank A/c 84,000
(Being drawings made by Kabir each month)
Grand Total 68,76,000 68,76,000

List of Ledgers

1. Cash A/c
2. Capital A/c
3. Bank A/c
4. Bank Loan A/c
5. Buildings A/c
6. Machinery A/c
7. Legal Expenses A/c
8. Security Deposit with Electricity Board A/c
9. Security Deposit with BSNL A/c
10. Interest on Loan A/c
11. Sales A/c
12. Purchases A/c
13. Electricity Expenses A/c
14. Telephone Expenses A/c
15. Cartage Inwards A/c
16. Cartage Outwards A/c
17. Travelling Expenses A/c
18. Maintenance Expenses A/c
19. Misc. Expenses A/c
20. Electricity Expenses A/c
21. Outstanding Electricity Expenses A/c
22. Drawings A/c

Cash A/c

Date Particulars L.F. Amount Date Particulars L.F. Amount

2022 2023
April 1 To Capital A/c 4,00,000 Mar 31 By Balance c/d 4,00,000

4,00,000 4,00,000

April 1 To Balance b/d 4,00,000

Capital A/c

Date Particulars L.F. Amount Date Particulars L.F. Amount

2023 2022
Mar 31 To Balance c/d 6,00,000 April 1 By Cash A/c 4,00,000
May 1 By Bank A/c 2,00,000

6,00,000 6,00,000

April 1 By Balance b/d 6,00,000

 Bank A/c

Date Particulars L.F. Amount Date Particulars L.F. Amount

2022 2022
April 1 To Bank Loan A/c 3,00,000 April 1 By Buildings A/c 2,00,000
May 1 To Capital A/c 2,50,000 April 1 By Machinery A/c 70,000
Mar 31 To Sales A/c 35,00,000 April 1 By Legal Expenses A/c 2,500
April 1 By Security Deposit 5,000
with Electricity Board
A/c
April 1 By Security Deposit 2,000
with BSNL A/c
June 30 By Loan A/c 1,00,000
June 30 By Interest on Loan A/c 10,000
Sept 30 By Loan A/c 1,00,000
Sept 30 By Interest on Loan A/c 7,500
Dec 31 By Loan A/c 1,00,000
Dec 31 By Interest on Loan A/c 5,000
Mar 31 By Purchases A/c 15,00,000
Mar 31 By Electricity Expenses 50,000
A/c
Mar 31 By Telephone Expenses 50,000
A/c
Mar 31 By Cartage Inwards A/c 10,000

Mar 31 By Cartage Outwards 15,000

A/c
Mar 31 By Travelling Expenses 25,000
A/c
Mar 31 By Maintenance 50,000
Expenses A/c
Mar 31 By Misc. Expenses A/c 20,000
Mar 31 By Drawings A/c 84,000
Mar 31 By Balance c/d 15,94,000
40,50,000 40,50,000
April 1 To Balance b/d 15,94,000

Bank Loan A/c

Date Particulars L.F. Amount Date Particulars L.F. Amount

2022 2022
June 30 To Bank A/c 1,00,000 April 1 By Bak A/c 3,00,000
To Bank A/c 1,00,000
To Bank A/c 1,00,000

3,00,000 3,00,000
Buildings A/c

Date Particulars L.F. Amount Date Particulars L.F. Amount

2022 2022
April 1 To Bank A/c 2,00,000 Mar 31 By Balance c/d 2,00,000

2,00,000 2,00,000
May 1 To Balance b/d 2,00,000

Machinery A/c
Date Particulars L.F. Amount Date Particulars L.F. Amount
2022 2022
April 1 To Bank A/c 70,000 Mar 31 By Balance c/d 70,000

70,000 70,000
May 1 To Balance b/d 70,000

Legal Expenses A/c

Date Particulars L.F. Amount Date Particulars L.F. Amount
2022 2022
April 1 To Bank A/c 2,500 Mar 31 By Balance c/d 2,500

2,500 2,500
Mar 31 To Balance b/d 2,500 Mar 31 By Profit & Loss A/c 2,500

2,500 2,500
Security Deposit with Electricity Board A/c

Date Particulars L.F. Amount Date Particulars L.F. Amount

2022 2022
April 1 To Bank A/c 5,000 Mar 31 By Balance c/d 5,000

5,000 5,000
May 1 To Balance b/d 5,000
Security Deposit with BSNL A/c

Date Particulars L.F. Amount Date Particulars L.F. Amount

2022 2022
April 1 To Bank A/c 2,000 Mar 31 By Balance c/d 2,000

2,000 2,000
May 1 To Balance b/d 2,000
Interest on Loan A/c

Date Particulars L.F. Amount Date Particulars L.F. Amount

2022 2022
June 30 To Bank A/c 10,000 Mar 31 By Balance c/d 22,500
Sept 30 To Bank A/c 7,500
Dec 31 To Bank A/c 5,000

22,500 22,500
Mar 31 To Balance b/d 22,500 Mar 31 By Profit & Loss A/c 22,500
Sales A/c

Date Particulars L.F. Amount Date Particulars L.F. Amount

2022 2022
Mar 31 To Balance c/d 35,00,000 Mar 31 By Bank A/c 35,00,000
 35,00,000 35,00,000
Mar 31 To Trading A/c 35,00,000 Mar 31 By Balance b/d 35,00,000

35,00,000 35,00,000

Purchases A/c

Date Particulars L.F. Amount Date Particulars L.F. Amount

2022 2022
Mar 31 To Bank A/c 15,00,000 Mar 31 By Balance c/d 15,00,000

15,00,000 15,00,000
Mar 31 To Balance b/d 15,00,000 Mar 31 By Trading A/c 15,00,000

15,00,000 15,00,000
Electricity Expenses A/c

Date Particulars L.F. Amount Date Particulars L.F. Amount

2022 2022
Mar 31 To Bank A/c 50,000 Mar 31 By Balance c/d 50,000

50,000 50,000
Mar 31 To Balance b/d 50,000 Mar 31 By Profit & Loss A/c 50,000

50,000 50,000
Telephone Expenses A/c

Date Particulars L.F. Amount Date Particulars L.F. Amount

2022 2022
Mar 31 To Bank A/c 50,000 Mar 31 By Balance c/d 50,000

50,000 50,000
Mar 31 To Balance b/d 50,000 Mar 31 By Profit & Loss A/c 50,000

50,000 50,000
Cartage Inwards A/c

Date Particulars L.F. Amount Date Particulars L.F. Amount

2022 2022
Mar 31 To Bank A/c 10,000 Mar 31 By Balance c/d 10,000

10,000 10,000
Mar 31 To Balance b/d 10,000 Mar 31 By Trading A/c 10,000

10,000 10,000
Cartage Outwards A/c

Date Particulars L.F. Amount Date Particulars L.F. Amount

2022 2022
Mar 31 To Bank A/c 15,000 Mar 31 By Balance c/d 15,000

15,000 15,000
Mar 31 To Balance b/d 15,000 Mar 31 By Profit & Loss A/c 15,000

15,000 15,000
 Travelling Expenses A/c
Date Particulars L.F. Amount Date Particulars L.F. Amount
2022 2022
Mar 31 To Bank A/c 25,000 Mar 31 By Balance c/d 25,000

25,000 25,000
Mar 31 To Balance b/d 25,000 Mar 31 By Profit & Loss A/c 25,000

25,000 25,000
Maintenance Expenses A/c
Date Particulars L.F. Amount Date Particulars L.F. Amount
2022 2022
Mar 31 To Bank A/c 50,000 Mar 31 By Balance c/d 50,000

50,000 50,000
Mar 31 To Balance b/d 50,000 Mar 31 By Profit & Loss A/c 50,000

50,000 50,000
Miscellaneous Expenses A/c
Date Particulars L.F. Amount Date Particulars L.F. Amount
2022 2022
Mar 31 To Bank A/c 20,000 Mar 31 By Balance c/d 20,000

20,000 20,000
Mar 31 To Balance b/d 20,000 Mar 31 By Profit & Loss A/c 20,000

20,000 20,000
Electricity Expenses A/c
Date Particulars L.F. Amount Date Particulars L.F. Amount
2022 2022
Mar 31 To Outstanding Elec Exp 20,000 Mar 31 By Balance c/d 20,000
A/c

20,000 20,000
Mar 31 To Balance b/d 20,000 Mar 31 By Profit & Loss A/c 20,000

20,000 20,000
Outstanding Electricity Expenses A/c

Date Particulars L.F. Amount Date Particulars L.F. Amount

2022 2022
Mar 31 To Balance c/d 20,000 Mar 31 By Electricity Exp A/c 20,000

20,000 20,000
April 1 By Balance b/d 20,000
 Drawings A/c
Date Particulars L.F. Amount Date Particulars L.F. Amount
2022 2022
Mar 31 To Bank A/c 84,000 Mar 31 By Balance c/d 84,000

84,000 84,000
Mar 31 To Balance b/d 84,000 Mar 31 By Capital A/c 84,000

84,000 84,000
Trial Balance of Kabir Singh
As at 31st March, 2023
Name of Accounts Dr. Balance Cr. Balance
Cash A/c 4,00,000
Capital A/c 6,00,000
Bank A/c 15,94,000
Buildings A/c 2,00,000
Machinery A/c 70,000
Legal Expenses A/c 2,500
Security Deposit with Electricity Board A/c 5,000
Security Deposit with BSNL A/c 2,000
Interest on Loan A/c 22,500
Sales A/c 35,00,000
Purchases A/c 15,00,000
Electricity Expenses A/c 50,000
Telephone Expenses A/c 50,000
Cartage Inwards A/c 10,000
Cartage Outwards A/c 15,000
Travelling Exp A/c 25,000
Maintenance Expenses A/c 50,000
Misc Expenses A/c 20,000
Electricity Expenses A/c 20,000
Outstanding Expenses A/c 20,000
Drawings A/c 84,000
Total 41,20,000 41,20,000