Question

2. From the following transactions make journal entries and post them in ledger : 2015
Jan. 1 Started business 25,000
Jan. 3 Purchased goods from Delhi Cloth Mills 10,000
Jan. 5 Sold goods to Desai 6,000
Jan. 8 Sold goods for cash to Gandhi 5,000 Jan. 10 Gave loan to Uttam 1,000
Jan. 12 Gave charity in flood relief fund 500
Jan. 13 Received from Desai Allowed him discount 5,900
Jan. 14 Paid wages to Naik 100
Jan. 15 Paid during travelling 100
Jan. 20 Purchased an iron safe 600
Jan. 21 Cash sales Jan 800
25 Purchased stationery 5,000 Jan. 31 Paid for rent 300
Jan. 31 Paid for salaries 800
[Ans. Total of Journal * 61,500] ​

Answer 1

Year : 2015

Date : 1st January.

Transaction amount : ₹25,000(-)

Transaction cause : Starting business.

Date : 3rd January .

Transaction amount : ₹10,000(-)

Transaction cause : Purchased Goods from Delhi Cloth Mills.

Date : 5th January .

Transaction amount : ₹6,000(+)

Transaction cause : Sold goods to Desai.

Date : 8th January .

Transaction amount : ₹5,000(+)

Transaction cause : Sold goods to Gandhi.

Date : 10th January .

Transaction amount : ₹,1000 (-)

Transaction cause : Gave loan to Uttam.

Date : 12th January .

Transaction amount : ₹500(-)

Transaction cause : Gave charity to food relief funds.

Date : 13th January .

Transaction amount : ₹5,900(+)

Transaction cause : Recieved money from Desai.

Date : 14th January.

Transaction amount : ₹100(-)

Transaction cause : Paid wages to Naik.

Date : 15th January .

Transaction amount : ₹100(-)

Transaction cause : Paid money for Travelling .

Date : 20th January .

Transaction amount : ₹600(-)

Transaction cause : Purchased an Iron safe .

Date : 21st January .

Transaction amount : ₹800(+)

Transaction cause : Cash sales.

Date : 25th January .

Transaction amount : ₹5,000(-)

Transaction cause : Purchased salary .

Date : 31st January .

Transaction amount : ₹300 (-) + ₹800(-)

Transaction cause : Paid for rent + paid for salaries .

Total Journal of January : ₹61,500.

Answer 2

Answer:

1. Jan. 1 Cash A/c Dr. To Capital A/c 25,000
2. Jan.3 Purchase A/c Dr To Delhi Cloth Milk A/c. 10,000
3. Jan.5 Desai A/c Dr.. To Sales A/c 6,000
4. Jan.8 Cash A/c Dr.. To Sales A/c 5,000

Jan.10 Uttam A/c Dr.. To Cash A/c 1,000

1. Charity Fund A/c Dr... To Cash/Bank A/c 500
2. Jan.12 Cash A/c Dr... 5900
3. Discount Allowed A/c Dr.. 100
4. To Desai A/c 6,000
5. Jan.13 Wages A/c Dr.. To Cash/ Bank A/c 100
6. Jan.14 Traveling Expenses A/c Dr.. To Cash/Bank A/c 100
7. Jan.20 Iron Safe A/c Dr.. To Cash/Bank A/c 600
8. Jan.21 Cash A/c Dr.. To Sales A/c 800
9. Jan.25 Stationary A/c Dr... To Cash/Bank A/c 5,000
10. Jan.31 Rent A/c Dr.. To Cash/Bank A/c 300
11. Jan.31 Salaries A/c Dr... To Cash/ Bank A/c 800

Explanation:

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