Accountancy, asked by ankita1102004, 8 months ago

13. Journalise the following transactions in the books of Manohar Singh :
2016
Apr. 1
Manohar Singh commenced business with personal cash 1,50,000 and 350,000 borrowed from Ranjit Siapa
personal account
Apr. 2
Purchased goods from Yuvraj Singh 45,000.
Apr. 6
Cash withdrawn by proprietor for personal use 15,000.
Apr. 9 Sold goods to Yadwinder Singh for cash 63,000.
Apr. 12 Life insurance premium paid 12,000 on the life of proprietor's major son
Apr. 14 Purchased goods on credit * 31,000.
Apr. 18 Goods withdrawn by proprietor for personal use 16,000.
Apr. 21 Goods sold to Dalip Singh on credit * 35,000.
Apr. 24 Rent of the residence of the proprietor paid from business bank account * 22,000.
Apr. 28 Cash purchases 19,000.

Answers

Answered by Sanav1106

JOURNAL ENTRIES

Cash A/c --------dr 500,000

To Ranjit Sapa A/c 350,000

To Capital A/c 150,000

(being business started by cash and taking loan)

Purchases A/c --------dr 45,000

To Yuvraj Singh A/c 45,000

(being goods purchased from Yuvraj )

Drawing A/c --------dr 15,000

To Cash A/c 15,000

(being cash withdrawn by proprietor)

Cash A/c ---------dr 63,000

To sales A/c 63,000

( being goods sold for cash)

Drawing A/c --------dr 12,000

To Cash A/c 12,000

( being cash Paid for proprietors use)

Purchases A/c --------dr 31,000

To Creditor A/c 31,000

( being goods purchased on credit)

Drawing A/c --------dr 16,000

To Purchases A/c 16,000

( being goods taken for proprietors use)

Sales A/c --------dr 35,000

To Dalip Singh A/c 35,000

( being goods sold on credit)

Drawing A/c -------dr 22,000

To Bank A/c 22,000

( being rent paid for owners house)

Purchases A/c --------dr 19,000

To Cash A/c 19,000

( being goods purchased for cash)

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