The following would be recorded in journal using double entry system. Do the posting process from journal and prepare the Trial balance and Trading account and Profit & loss account and Balance sheet in the books of M/S. THARAI & CO for the following financial year of 1.4.2011 to 31.3.2012

TRANSACTION DURING THE PERIOD:

• Apr 05 Paid Telephone charges Rs.2000
• Apr 10 Received commission Rs. 30000
• Apr 23 An amount paid to M/s. ANU ENTERPRISES was Rs.15000 part settlement against bill no:21
• May 01 Purchase goods from M/s. A.P COMPUTERS was Rs. 50000 bill no:30 25days
• May 13 Depreciation of Machinery @ 10%
• May 19 Cash withdraw from bank Rs.10000
• May 27 Bank O/D Received Rs.15000
• June 08 Bank loan Received Rs. 200000
• June 29 Paid Wages Rs. 1500
• July 06 Good sold on credit to M/S.SARASWATHI PRINTERS was Rs.90000 bill no:01
• July 25 Paid Fright charges Rs. 500
• Aug 01 We return to M/s. A.P COMPUTERS was Rs. 5000 against bill no:30
• Aug 24 Dividend received Rs.30000
• Sep 08 Paid Salary Rs.5000
• Sep 12 Paid Printing & Stationary Rs.300
• Oct 05 Amount received from M/s. RIYAS & CO was Rs.20000 against bill:010 and discount allowed to Rs.1000 balance amount Bad debit written off

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