Question

1.Pass the Journal Entries for the following business transactions:
•April 10, 2019: M/s M started a business with a capital of ₹ 5,00,000.
•April 19, 2019: Purchased furniture worth ₹75,000.
•April 24, 2019: Purchased goods worth ₹ 100000, on credit from N.
•April 30, 2019: Rent paid ₹ 10,000 for April.
•May 03, 2019: Goods sold for ₹ 18,000.
•May 12, 2019:Sold goods worth ₹ 15,000 to P at a 10% cash discount.
•May 18, 2019: ₹ 10,000 deposited into the bank.
•May 21, 2019:Paid ₹ 20,000 to N.
•May 26, 2019:M withdraw cash of ₹ 2,000 for personal purpose
•May 31, 2019: paid salary rs 5000 to Q

Answer 1

Answer:

cash a/c dr.

to capital a/c

furniture a/c dr.

to cash a/c