Question

14. From the following transactions pass journal entries in the banks of Dharmendra and
post them in ledger. Find out the balance of each account and decide which account has
which balance.
2016
July 1 Commenced a business by bringing in cash of 80,000 and furniture of 20,000.
2 A bank account is opened, by depositing * 30,000.
Goods of * 12,000 are purchased from Mahendra at 6 % trade discount and paid
cash 4000.
Goods of * 7500 are sold to Narendra at 10 % trade discount and he has paid
2000.
6 Paid in cash 3000 for shop board and 4000 for advertisement in a newspaper.
Paid life insurance premium of 6000 and son's school fees of * 2200 from the shop.
Given a cheque of * 7200 to Mahendra and settled his account.
10 Received a cheque of 4700 from Narendra in full settlement.
11 Purchased the furniture of * 5000 from Surendra Hardware. Against this given
* 3000 by cheque and 2000 in cash.
​

Answer 1

Answer:

1.cash a/c ..... Dr. 80000

furniture a/c .... Dr. 20000

to capital a/c. 1,00,000

2.bank a/c .....Dr. 30,000

to cash a/c. 30,000

3.magenda a/c ..... Dr. 4000

to cash a/c. 4000

4.cash a/c ...... Dr. 2000

to narendra. 2000

5.shop board a/c..... Dr. 3000

advertising a/c ....... Dr. 4000

to cash a/c. 7000

6.drawing's a/c........dr. 7200

to cash a/c. 7200

7.bank a/c .......... Dr. 7200

discount a/c. ......... Dr. 300

to narendra. 7500

bank a/c. ............Dr. 4700

discount a/c ............Dr. 300

to narendra 5000

furniture a/c ...........Dr. 5000

to cash a/c............... 2000

to bank a/c. 3000

Answer 2

Answer:

Explanation:

1 July: Commenced a business by bringing in cash of Rs 80000 and furniture of Rs 20000

2 July: A bank account was opened by depositing Rs 30000.

3 July: Goods of Rs 12000 purchased from Mahindra at 6 % trade discount and paid cash.

5 July: Goods of Rs 7500 sold to Narender at 10% trade discount and he paid Rs 2000

6 July: Paid life insurance premium of Rs 6000 and Rs 2200 for son’s school fees from the shop

8th July: Gave a cheque of Rs 7200 to Mahindra and settled his account

10 July: Received a cheque of Rs 4700 from Narendra in full settlement

11 July: Purchased furniture of Rs 5000 from surrender hardware. Against this was given Rs 3000 by cheque and Rs 2000 in cash.