16. On 1st March, 2024, Shri Kailash Chand, Lucknow commenced business with cash 50,000. The following are his transactions for the month of March, 2024. Record them in proper books, post them to the Ledger and take out his Trial Balance:

2024
March 1 Bought goods for cash 5,000
Purchased from Hari, Lucknow:
5 Laptops @ ₹35,000 each
5 Desktops @ ₹25,000 each
Less: Trade Discount 15%
March 2 Purchased computer & printer from M/s. Computer Mart against cheque for office use 20,000
March 5 Deposited into bank 15,000
March 7 Sold goods to Ramesh, Kanpur:
2 Laptops @ ₹32,000 each
2 Desktops @ ₹24,000 each
March 10 Received Cheque from Ramesh on account 75,000
March 14 Received another Cheque from Ramesh in full settlement 36,000
March 15 Sold goods to Jagdish, Kolkata:
2 Laptops @ ₹35,000 each
2 Desktops @ ₹25,000 each
Less: Trade Discount 5%
March 18 Bought from Shyam, Delhi:
10 Keyboards @ ₹1,000 each

  T.S.Grewal/2024 Edition/Practical Problems/Q-16

For full question, please refer to the text book T.S.Grewal’s Double Entry Book Keeping-Financial Accounting, Textbook for CBSE Class XI published by Sultan Chand & Sons Pvt. Ltd.

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