Books of Accounts Problems and Solutions
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State in which journal the following items will be recorded:
>> Read Books of Accounts.
From the transactions given below prepare the Sales Book of Farhan Rahim for July 2016:
July 5: Sold on credit to Ali Raza.
10 Chairs @ Rs. 250 Less 10%.
10 Tables @ Rs. 850 Discount 10%.
July 8: Sold to Zarak Akram for cash.
15 Chairs @ Rs. 250
July 20: Sold to Mohsin & Co.
05 Chairs @ Rs. 2,200
10 Tables @ Rs. 850
July 23: Sold on credit to Hassan Khan old computer for Rs. 5,000
July 28: Sold to Khalid Khan for cash
15 Chairs @ Rs. 250
>> Practice Books of Accounts MCQs.
Enter the following transactions in the purchases return book of Sana Ghani:
Jan 5: Returned goods to Tayyab Zafar 5 chairs @ Rs.200 each, not in accordance with order.
Jan 14: Returned goods to Ali 4 chairs @ Rs. 200 each and 10 tables @ Rs. 350 each, due to inferior quality.
Jan 24: Return goods to Naeem and sons of Rs. 900.
>> Read and practice Cash Book.
Enter the following transactions in Returns Inward Book of Danyal Mohsin:
April 6: Returned by Sakandar 30 shirts each costing Rs. 550, due to inferior quality.
April 8: Amar Tailors returned 10 ladies suits, each costing Rs. 1,900, on account of being not in accordance with their order.
April 21: T.N. Stores returned 12 male suits sets each costing Rs. 2,500, being not in accordance with order.
Books of Accounts Examples
Books of Accounts Questions
Books of Accounts Format
Books of Accounts Exam Questions
Books of Accounts Exercises
Books of Accounts Problems PDF
Mukharji, A., & Hanif, M. (2003). Financial Accounting (Vol. 1). New Delhi: Tata McGraw-Hill Publishing Co.
Narayanswami, R. (2008). Financial Accounting: A Managerial Perspective. (3rd, Ed.) New Delhi: Prentice Hall of India.
Ramchandran, N., & Kakani, R. K. (2007). Financial Accounting for Management. (2nd, Ed.) New Delhi: Tata McGraw Hill.
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