HOLIDAY PRACTICE ASSIGNMENT # 1 (FIRST WEEK)

22nd MAY, 2020

 DEAR BOYS,

 THANK YOU SO MUCH FOR LOGGING IN REGULARLY &  COOPERATING WITH ALL THE NECESSARY TASKS TO BE DONE AT YOUR END. 

 WE ARE NOW GEARED UP FOR OUR SUMMER BREAK.

 TAKE A GOOD REST. 

 DO WHAT YOU LIKE BUT KEEPING YOURSELF SAFE.

 YET,  OVER AND ABOVE, THERE IS SOME PRACTICE  REQUIRED IN THE NEW LANGUAGE OF ACCOUNTING, THAT YOU ARE IN THE PROCESS OF LEARNING.

 THAT SHOULD GO ON ALONG WITH YOUR OTHER CHORES.

 SO, NOT MUCH, BUT ONLY 15 JOURNAL ENTRIES A WEEK WILL BE SENT FOR 

 YOUR HOLIDAY ASSIGNMENT.

 THIS  WILL BE MARKED FOR YOUR PROJECT IN THE FIRST TERM.

 THE WEIGHTAGE OF THE PROJECT WORK IS OF 20 MARKS.

 MAINTAIN A THIN, LONG  REGISTER FOR THIS PROJECT ASSIGNMENT.

 THE ASSIGNMENT WILL BE DIVIDED INTO 5 PARTS. 

 FIVE ASSIGNMENTS WILL BE ASSIGNED FOR 5 WEEKS. 

 THE JOURNAL TRANSACTIONS SHOULD BE WRITTEN.
( BEFORE JOURNALISING)

 THE PROFORMA OF THE JOURNAL BE LEGIBLY DRAWN.
HOLIDAY PRACTICE ASSIGNMENT # 1

1
Manu started business with Cash Rs. 10,000, Goods Rs. 5,000 and Furniture Rs. 15,000.
2
Purchased Goods for Cash Rs. 3,500.
3
Purchased Goods from Raju Rs. 10,000.
4
Purchased Goods from Mr. X for cash Rs. 6,000.


5
Sold goods for cash Rs. 1,500.
6
Sold goods for cash to Ashish Rs. 2,000.
7
Sold goods to Kashi Rs. 2,500.
8
Paid cash to Raju Rs. 6,000.
9
Received cash from Kashi Rs. 2,500.
10
Bought Building for cash Rs. 20,000.
11
Paid for Rent, wages Rs. 100 and Rs. 400 respectively.

12
Paid Salary to Amrit Rs. 1,200.


13
Sold goods to Banku Rs. 8,000.
14
Returned defective goods by Banku Rs. 2,000.
15
Received cash from Banku Rs. 5,900 in full settlement.
HOPE ALL IS CLEAR.  TAKE CARE.

 THANK YOU





















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