Question

1) Commenced business with capital of Rs 80,000 2) Rs 30,000 deposited with bank and opened account. 3) Goods of Rs 50,000 purchased from Khyati on credit: 4) Goods of Rs 20,000 purchased on cash. 5) Goods of Rs 35000 sold for Rs 55,000 to Hrutvi on credit. 6) Goods of Rs 10,000 sold for Rs 15,000 in cash. 7) Goods of Rs 2,000 returned to Khyati. 8) Goods of Rs 4,000 returned by Hrutvi. 9) Accounts are settled with Hrutvi and Khyati. 10) Withdrew Rs 6,000 from bank. 11) Salary of Rs 5,000 paid by cheque. 12) Commission received in cash Rs 3,000 and Rs 2,500 are outstanding 13) Rent piad in cash rs 4,000 and 1,500 are outstanding. 14) Goods donated Rs 3,000. 15) Furniture of Rs 16,000 purchased from Maitri Furniture mart 16) College fees of son paid Rs 7,000. 17) Rs 500 bank has credited for interest and debited Rs 200 for bank ch 18) Rs 2,500 received in advance for interest. 19) Advertisement expense paid in advance Rs 2,000 20) Machine purchased for Rs 8,000. ​

Answer 1

Please Note that the narration are NOT written in the below Journal entries.