1.
Journalise the following transactions
1. Purchased furniture for cash
2. Sold machinery for cash
3 Purchased goods for cash
4 Sold goods for cash 5 Purchased machinery on credit from Precision machines Ltd.
6 Purchased goods on credit from Hari
7 Sold goods on credit to Ravi
4.000 6,000
9,000
7,000 12,000
6,000
8,000Origin and Recording of Transactions
8 Cash paid to Precision machines
9 Paid to Hari
10 Received cash from Ravi
11 Paid salary
12 Cash paid to bank
13 Received commission
Give journal entries for the follow
9000
4.300 6.500
1.200 2.300
200
Answers
Answer:
Journal Entries
Explanation:
1. Furniture A/c Dr. 4000
To Cash A/c 4000
(being purchased furniture for cash)
2. Cash A/c Dr. 6000
To Machinery 6000
( being machinery sold for cash)
3. Purchase A/c Dr. 9000
To Cash A/c 9000
(being goods purchased)
4. Cash A/c Dr. 7000
To Sales A/c 7000
(being goods sold for cash)
5. Machinery A/c Dr. 12000
TO Precision Machines Ltd. 12000
( being machinery purchased from Precision Machines Ltd.)
6. Purchase A/c Dr. 6000
TO Hari 6000
( being goods purchased from Hari)
7. Ravi A/c Dr. 8000
To Sales A/c 8000
(being goods sold to Ravi)
8. Precision Machines Ltd. Dr. 9000
To cash A/c 9000
( being paid to Precision Machines)
9. Hari Dr. 4300
To Cash A/c 4300
( being paid to Hari)
10. Cash A/c Dr. 6500
TO ravi 6500
( being recieved cash from Ravi)
11. Salary A/c Dr. 1200
TO cash A/c 1200
( being salary paid)
12. Bank A/c Dr. 2300
To cash A/c 2300
( being paid into bank)
13. Cash A/c Dr. 200
TO commission received 200
( being commission received)
Hope you will find this helpful dear..!!
Good Luck