Account

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Account

  1. 1. Prof : Anjali KumarProf : Anjali Kumar PG 1 23/08/07PG 1 23/08/07 SubsidiarySubsidiary booksbooks
  2. 2.  Journal –Book of Original entryJournal –Book of Original entry  Subsidiary booksSubsidiary books
  3. 3. Subsidiary Books :Subsidiary Books :  Purchase BookPurchase Book  Purchase Returns BookPurchase Returns Book  Sales bookSales book  Sales Returns BookSales Returns Book  Bills receivable BookBills receivable Book  Bills payable bookBills payable book  Journal ProperJournal Proper
  4. 4. Subsidiary Books :Subsidiary Books : Purchase Book :-Purchase Book :- – CreditCredit Purchase ofPurchase of GoodsGoods DateDate ParticularsParticulars L/fL/f PurchasePurchase Invoice NoInvoice No AmountAmount 20072007 April 2April 2 2525 XY LimitedXY Limited L& TL& T 2323 3535 33183318 4536845368 100,000100,000 450,000450,000 TotalTotal 550,000550,000
  5. 5. Subsidiary Books :Subsidiary Books : Purchase Return Book :-Purchase Return Book :- – Goods purchased on creditGoods purchased on credit return to the supplierreturn to the supplier DateDate ParticularsParticulars L/fL/f Debit NoteDebit Note No.No. AmountAmount 20072007 AprilApril 1010 2828 XY LimitedXY Limited L& TL& T 2323 3535 758758 629629 25,00025,000 17,00017,000 TotalTotal 42,00042,000
  6. 6. Subsidiary Books :Subsidiary Books : Sales Book :-Sales Book :- – CreditCredit Sales ofSales of GoodsGoods DateDate ParticularsParticulars L/fL/f Sales BillSales Bill NoNo AmountAmount 20072007 April 1April 1 2222 RN LimitedRN Limited Alpha LtdAlpha Ltd 2727 4040 41524152 41534153 100,000100,000 450,000450,000 TotalTotal 550,000550,000
  7. 7. Subsidiary Books :Subsidiary Books : Sales Return Book :-Sales Return Book :- – Goods sold on credit returnedGoods sold on credit returned by the customerby the customer DateDate ParticularsParticulars L/fL/f Credit NoteCredit Note NoNo AmountAmount 20072007 April 8April 8 2828 RN LimitedRN Limited Alpha LtdAlpha Ltd 2727 4040 1010 1111 5,0005,000 2,0002,000 TotalTotal 7,0007,000
  8. 8. Subsidiary Books :Subsidiary Books : Bills receivable Book :-Bills receivable Book :- – Record of all Bill of exchangeRecord of all Bill of exchange accepted by the customeraccepted by the customer SS NN oo datedate FromFrom whomwhom ReceivReceiv eded AcceAcce ptorptor DateDate ofof thethe billbill TermTerm Date ofDate of MaturityMaturity L/L/ FF PayabPayab le atle at Rs.Rs. HowHow depositedeposite dd
  9. 9. QUIZ-3QUIZ-3
  10. 10. 1.1. Subsidiary books are books ofSubsidiary books are books of ___________ entry___________ entry 2.2. List down subsidiary books .List down subsidiary books . 3.3. In ________ book credit purchase ofIn ________ book credit purchase of goods are written.goods are written. 4.4. Return Inward book is used to writeReturn Inward book is used to write ____ entries____ entries 5.5. Debit note is issued by ------- to -------Debit note is issued by ------- to -------
  11. 11. Subsidiary Books :Subsidiary Books : Bills Payable Book :-Bills Payable Book :- – Record of all Bill of exchangeRecord of all Bill of exchange accepted by the customeraccepted by the customer SS NN oo DateDate acceacce ptedpted NameName of theof the drawerdrawer payepaye ee DateDate ofof thethe billbill TermTerm Date ofDate of MaturityMaturity L/L/ FF PayabPayab le atle at Rs.Rs. RemarksRemarks
  12. 12. Subsidiary Books :Subsidiary Books : Journal Proper :-Journal Proper :- – Any transactions which cannotAny transactions which cannot be recorded in any of subsidiarybe recorded in any of subsidiary book or cash bookbook or cash book DateDate ParticularsParticulars DoDo cc RefRef L/fL/f DebitDebit CreditCredit
  13. 13. CASH BOOKCASH BOOK  Special JournalSpecial Journal  Resembles ledgerResembles ledger  No need of opening separate cashNo need of opening separate cash accountaccount
  14. 14. Kinds of Cash Book:-Kinds of Cash Book:- 1. Simple Cash Book / Single1. Simple Cash Book / Single column cash Bookcolumn cash Book 2.Double column cash book2.Double column cash book 3.Three column cash book3.Three column cash book 4. Petty cash book4. Petty cash book CASH BOOKCASH BOOK
  15. 15.  Prepare Cash book of Mr. Raj Associates fromPrepare Cash book of Mr. Raj Associates from the followingthe following 1.5.071.5.07 Cash in hand Rs.100,000Cash in hand Rs.100,000 2.5.072.5.07 Borrowed cash from Mr. Basant Rs.Borrowed cash from Mr. Basant Rs. 50,00050,000 3.5.073.5.07 Purchased furniture Rs. 5000Purchased furniture Rs. 5000 4.5.074.5.07 Paid petty cash expenses Rs. 500Paid petty cash expenses Rs. 500 10.5.0710.5.07 Sold goods to Hari for Rs. 10000Sold goods to Hari for Rs. 10000 15.5.0715.5.07 Received from Shyam Rs. 38,000 forReceived from Shyam Rs. 38,000 for goods sold on credit on 30.4-07goods sold on credit on 30.4-07 20.5.0720.5.07 Withdrew cash for personal use Rs. 1,000Withdrew cash for personal use Rs. 1,000 25.5.0725.5.07 Purchased Goods Rs.16,000Purchased Goods Rs.16,000 30.5.0730.5.07 Paid Rent Rs. 7,000Paid Rent Rs. 7,000
  16. 16. Date Particulars L/f amount date Particulars L/f amountDate Particulars L/f amount date Particulars L/f amount 1.5.07 To opening balance 100,0001.5.07 To opening balance 100,000 3.5.073.5.07 By furniture 5,000By furniture 5,000 2.5.07 to Mr. Basant’s Loan 50,000 4.5.072.5.07 to Mr. Basant’s Loan 50,000 4.5.07 By Petty cash 500By Petty cash 500 A/cA/c 15.5.7 To Shyam15.5.7 To Shyam 38,00038,000 20.5.720.5.7 By drawingsBy drawings 1,0001,000 25.5.7 By25.5.7 By Purchase of goodsPurchase of goods 16,00016,000 28.5.728.5.7 By rentBy rent 7,0007,000 31.5.731.5.7 by Salary 5,000by Salary 5,000 31.5.731.5.7 By balance c/dBy balance c/d 1,53,5001,53,500 1,88,000 1,88,0001,88,000 1,88,000 1.6.07 To balance b/d1.6.07 To balance b/d 1,53,5001,53,500
  17. 17. DateDate ParticularsParticulars LL // FF DiscountDiscount RsRs Cash.Cash. datedate ParticularsParticulars LL // ff DiscounDiscoun t Rst Rs CashCash RsRs CASH BOOK( with discount column
  18. 18. Case study on conceptCase study on concept  Mr. Ashoka runs a transportingMr. Ashoka runs a transporting company. On 1st January, 2007 hecompany. On 1st January, 2007 he Purchased 2 trucks costing Rs.Purchased 2 trucks costing Rs. 400,000 /- each from M/s Popular400,000 /- each from M/s Popular Auto Private Ltd.Auto Private Ltd.  On the same day he receivedOn the same day he received purchase invoice from M/s popular.purchase invoice from M/s popular. Since he has not made any payment,Since he has not made any payment, no record has been made in the booksno record has been made in the books  On 1st March he has found that, theOn 1st March he has found that, the price of the trucks has gone down toprice of the trucks has gone down to Rs.375, 000 each. Now he isRs.375, 000 each. Now he is completely confused which amountcompletely confused which amount should be recorded. Kindly adviceshould be recorded. Kindly advice
  19. 19.  . Mr.Sreenath, who is dealing in the. Mr.Sreenath, who is dealing in the business of mushroom cultivation. He takesbusiness of mushroom cultivation. He takes up orders from hotels and cateringup orders from hotels and catering companies.companies.  On 28th February there was a wedding atOn 28th February there was a wedding at his house. He used mushroom worth Rs.his house. He used mushroom worth Rs. 10,000/- for the same.10,000/- for the same.  He is completely confused whether to showHe is completely confused whether to show this amount in his books of account and if hethis amount in his books of account and if he needs to record this in the books , how andneeds to record this in the books , how and when it is to be recorded.when it is to be recorded.  Kindly advice.Kindly advice.

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