Scribd
Upload
15 views8 pages

FAC Journal

1. The document shows accounting transactions recorded in a company during a period through journal entries. It records transactions such as capital introduction, purchases, sales, expenses etc. 2. It also includes an income statement, balance sheet, and trial balance showing the financial position and performance of the company at the end of the period. 3. Key figures from the documents include total sales of Rs. 50,000, total expenses of Rs. 1,25,200, resulting in a net loss of Rs. 49,700 as per the income statement. The balance sheet shows total assets of Rs. 3,35,300 and total equity/capital of Rs. 3,35,300.

Uploaded by

Gajanand Goudanavar
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
15 views8 pages

FAC Journal

1. The document shows accounting transactions recorded in a company during a period through journal entries. It records transactions such as capital introduction, purchases, sales, expenses etc. 2. It also includes an income statement, balance sheet, and trial balance showing the financial position and performance of the company at the end of the period. 3. Key figures from the documents include total sales of Rs. 50,000, total expenses of Rs. 1,25,200, resulting in a net loss of Rs. 49,700 as per the income statement. The balance sheet shows total assets of Rs. 3,35,300 and total equity/capital of Rs. 3,35,300.

Uploaded by

Gajanand Goudanavar
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd

Sl. No. Particulars Dr.

Rs
1 Cash a/c dr 400000
To capital a/c
2 Bank a/c dr 200000
. To cash a/c
3 Parchase a/c dr 75000
. To cash a/c
4 Cash a/c dr 30000
. To sales a/c
5 Furniture a/c dr 50000
. To bank a/c
6 a/c reveivable (Aravind) dr 20000
. To sales a/c
7 Purchase a/c dr 50000
. To a/c payable (Amrit)
8 a/c payable (Amrit) dr 25000
To purchase returned
9 Cash a/c dr 19800
Discount allowed dr 200
. To a/c receivable (Aravind)
10 Drwaing a/c dr 5000
. To Purchase a/c
11 Drawings a/c dr 10000
. To cash a/c
12 Telephone Exp. a/c dr 5000
. To cash a/c
13 payable (Amrit) dr 25000
. To cash a/c
. To Discount received a/c

915000

Income Statement
Accounts Rs. Rs.
Revenue Sales a/c 50000
Discount Recvd a/c 500
Purchase Returned a/c 25000
Total 75500
Expenses Purchase a/c 120000
Discount allowed a/c 200
Telephone Exp. 5000
Total 125200

Profit -49700
Balance Sheet
Particulars Rs Rs
Owners' Equity
Capital a/c 400000
Drawings A/c -15000
385000
Profit/loss -49700

Total 335300
Cr. Rs

400000 Cash a/c


Capital a/c 400000 Bank a/c 200000
200000 Sales a/c 30000 Purchase a/c 75000
A/c Receivable (Aravind) 19800 Drawing a/c 10000
75000 Telephone Exp. a/c 5000
A/c payable a/c (Amrit) 24500
30000 449800 314500
Balance 135300
50000
dr. Capital a/c Cr
20000 Cash a/c 400000

50000

25000

Balance 400000
20000 dr. Bank a/c Cr
Cash a/c 200000 Furniture a/c 50000
5000

10000

5000
Balance 150000
24500
500
Trial Balance
915000 Sl no Accounts dr Rs cr Rs.
Cash a/c 135300
Bank a/c 150000
Purchase a/c 120000
Furniture a/c 50000
Discount allowed a/c 200
Drawings A/c 15000
Telephone Exp. 5000
A/c Receivable (Aravind) 0
Capital a/c 400000
Sales a/c 50000
a/c payable ( Amrit) 0
Purchase Returned a/c 25000
Discount Recvd a/c 500
475500 475500
e Sheet
Particulars Rs Rs
Non Current Asset
Furniture a/c 50000

Current Asset
Cash a/c 135300
Bank a/c 150000
Total 335300
dr. Purchase a/c Cr
Cash a/c 75000 Drawings a/c 5000
a/c payable(Amrit) 50000

125000 5000
Balance 120000

dr. Sales a/c Cr


Cash a/c 30000
a/c receivable 20000

Balance 50000
dr. Furniture a/c Cr
bank a/c 50000

Balance 50000
dr. a/c Receivable (aravind) Cr
Sales a/c 20000 Cash a/c 19800
Discount allowed a/c 200

20000 20000
Balance 0

dr. a/c payable (Amrit) Cr


Purchase Returned a/c 25000 Purchase a/c 50000
Cash a/c 24500
Discount Rvd a/c 500

50000 50000
Balance 0

dr. Purchase Returned a/c Cr


a/c Payable (Amrit) 25000

Balance 25000
dr. Discount allowed a/c Cr dr. Discount Rcvd a/c
A/c Receivable (Aravind) 200

Balance 200 Balance

dr. Drawing a/c Cr


Purchase a/c 5000
Cash a/c 10000

Balance 15000

dr. Telephone Exp. a/c Cr


Cash a/c 5000

Balance 5000
Discount Rcvd a/c Cr
A/c payable (Amrit) 500

500

You might also like