Question

2.2 Pass journal entries from the following transaction, post them into ledger and make a trial balance of Shree
Panchmukhi ltd:
1. Sahdev started business with cash RS.5,00,000.
Purchased goods for cash Rs. 20,000.
Purchased goods from Raghubir on credit for Rs. 25,000.
Purchased furniture form fancy furniture house for Rs. 1,50,000 on credit.
Sold goods for cash Rs. 30,000
6/ Sold goods to Yuvraj on credit for Rs. 50,000.
V. Cash paid to Raghubir Rs.20,000.
8. Cash received form Yuvraj Rs.15,000.
S. Paid rent Rs. 10,000,​

Answer 1

Heya

Here's ur answer in the ATTACHMENT

Answer 2

your journal entry will be:

1) cash a/c. Dr. 500000

to capital a/c. 500000

(being business started with cash)

2) purchase a/c. Dr 20000

to cash a/c. 20000

(being purchase goods in cash)

3) purchase a/c. Dr. 25000

to Raghubir a/c. 25000

(being goods purchase from Raghuvir on credit)

4) furniture a/c. Dr. 150000

to fancy furniture house a/c. 150000

(being furniture purchase from fancy furniture house)

5) cash a/c. Dr. 30000

to sales a/c. 30000

(being goods sold on cash)

6) Yuvbraj a/c. Dr. 50000

to sales a/c 50000

(being goods sold to Yubbraj on credit)

7) Raghuvir a/c. Dr. 25000.

to cash a/c. 20000

to creditor a/c. 5000

(being cash paid to Raghuvir)

8) cash a/c. Dr. 15000

debtor a/c. Dr. 35000

to Yovraj a/c. 50000

(being cash received from jubraj)

9)rent a/c. Dr. 10000

to cash a/c. 10000

(being rent paid in cash)