Date
|
Particulars
|
LF
|
Debit Amt (Rs.)
|
Credit Amt.
(Rs.)
|
1.
|
Joint
Venture A/…………………………...Dr.
To Goods A/c
(Being
goods supplied)
|
2,00,000
|
2,00,000
|
|
2.
|
Joint
Venture A/c………………………….Dr.
To Cash / Bank A/c
(Being
paid for expenses)
|
6,150
|
6,150
|
|
3.
|
Joint
Venture A/c………………………….Dr.
To Umesh A/c
(Being
goods purchased)
|
1,95,000
|
1,95,000
|
|
4.
|
Joint
Venture A/c………………………….Dr.
To Umesh A/c
(Being
paid for expenses)
|
7,000
|
7,000
|
|
5.
|
Bills
Receivable A/c……………………….Dr.
To Umesh A/c
(Being
bill drawn and accepted due after 3 months as an advance)
|
95,000
|
95,000
|
|
6.
|
Bank
A/c…………………………………..Dr.
Discount
A/c………………………………Dr.
To Bills Receivable A/c
(Being
bill discounted)
|
92,000
3,000
|
95,000
|
|
7.
|
Joint
Venture A/c…………………………Dr.
To Discount A/c
(Being
discount treated as expense)
|
3,000
|
3,000
|
|
8.
|
Umesh
A/c…………………………………Dr.
To Joint Venture A/c
(Being
goods sold)
|
5,00,000
|
5,00,000
|
|
9.
|
Joint
Venture A/c………………………….Dr.
To Profit & Loss A/c
To Umesh A/c
(Being
profit on Joint venture transferred)
|
88,850
|
53,310
35,540
|
|
10.
|
Cash /
Bank A/c…………………………..Dr.
To Umesh A/c
(Being
account settled)
|
1,69,460
|
1,69,460
|
Particulars
|
Rs.
|
Rs.
|
Particulars
|
Rs.
|
Rs.
|
To Urmila
A/c (Goods)
|
2,00,000
|
By Cash/Bank
A/c
(Sales)
|
5,00,000
|
||
To Urmila
A/c
Freight
Sundry Exp.
|
4,950
1,200
|
6,150
|
|||
To Cash/Bank
A/c
(Purchase)
|
1,95,000
|
||||
To Cash/
Bank A/c
(Selling
Expenses)
|
7,000
|
||||
To Urmila
(discount)A/c
|
3,000
|
||||
To Profit
Profit & Loss A/c
Urmila A/c
|
35,540
53,310
|
88,850
|
|||
5,00,000
|
5,00,000
|
Particulars
|
Rs.
|
Particulars
|
Rs.
|
To Bills
Payable A/c
|
95,000
|
By Joint
Venture A/c
|
2,00,000
|
By Joint
Venture A/c
By Joint
Venture A/c
|
6,150
3,000
|
||
To Cash /
Bank A/c
|
1,69,460
|
By Joint
Venture A/c
|
53,310
|
2,61,460
|
2,61,640
|