Question

1) Pass necessary Journal entries relating to Mr.X for the month of January 2015.
2015 Jan. 1 Started business with Rs. 20,000 and furniture Rs. 4,000
Jan. 1 Bought shop fitting Rs. 4,000 and a car Rs. 6,000 and payment made in cash.
Jan. 2 Paid into Bank Rs. 8,000
Jan. 3 Paid rent Rs. 2,000 by cheque.
Jan. 10 Purchased on credit goods for Rs. 5,000 from Mr. Khatana.
Jan. 12 Cash Sales Rs. 10,000
Jan. 15 Paid wages Rs. 500 and Commission Rs. 200 by cash.
Jan. 20 Sold good to shyam Rs. 15000​

Answer 1

Explanation:

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