Practical Problems · Q11
Q.From the transactions given in Question 1 above, post the relevant entries to the Purchases Account and the Sales Account for May 2024, and state why neither account is balanced and carried forward to June.
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Start your 14-day free trial to unlock the full solution →Both the cash AND the credit transactions in goods are posted to these two accounts (unlike the Cash Account, which received only the cash ones).
Purchases Account
| Dr. | Cr. | ||||||
|---|---|---|---|---|---|---|---|
| Date (2024) | Particulars | J.F. | Amount (₹) | Date (2024) | Particulars | J.F. | Amount (₹) |
| May 3 | To Cash A/c | 25,000 | |||||
| May 6 | To Priya's A/c | 18,000 | |||||
| Total for May | 43,000 |
Sales Account
| Dr. | Cr. | ||||||
|---|---|---|---|---|---|---|---|
| Date (2024) | Particulars | J.F. | Amount (₹) | Date (2024) | Particulars | J.F. | Amount (₹) |
| May 10 | By Cash A/c | 20,000 | |||||
| May 14 | By Mohan's A/c | 15,000 | |||||
| Total for May | 35,000 |
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