10. Give Journal Entries in the books of Rasheed and post them into ledger for the period
December, 2018
Dec 01 Started business with cash and stock of Rs. 5000 and Rs. 2,000
05 Opened bank account with SIB bank Rs. 30,000
09 Purchased goods from Abu Rs. 10,000
12 Sold Goods to Sathya for cash Rs. 3,000
15 Purchased motor car for personal use Rs. 50,000
20 Sathya returned goods Rs. 100
21 Paid wages Rs. 300
25 Paid Abu Rs. 9,500 and discount Rs.500
28 Received Commission Rs. 1,500
31 Issued cheque for Rent Rs. 4,500
Prepare Ledger account for cash and Sales account.
Answers
Explanation:
dec 1. cash A/C Dr. 5000
purchase A/C Dr.2000
To capital A/C. 7000
dec 5.
dec 9. purchase A/C Dr. 10000
to Abu A/C. 10000
dec 12. cash a/c. Dr. 3000
to sales a/c. 3000
dec 15. drawing a/c dr. 50000
to motor car a/c. 50000
dec 20. sales return a/c dr. 100
to Sathya a/c. 100
dec 21. wages a/c dr. 300
to cash a/c 300
dec 25. Abu a/c dr 10000
to cash a/c 9500
to dis reced a/c 500
dec 28. cash a/c dr. 1500
to comm reced 1500
dec 31. rent a/c dr. 4500
to bank a/c 4500
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i hope it will help you i might say some will be correct and two four transactions i am not sure .