2020
Jan.
1 Rakesh commenced business with cash......
Jan.
2 Purchased goods for cash......
Jan.
5 Purchased goods from Mohan, Delhi.
Jan.
7 Opened bank account with Bank of India
Jan.
10 Purchased furniture for office....
Jan.
15 Sold goods for cash.............
Jan.
20 Sold goods to Ram of the list price of F 1,25,000 less 20% Trade discount and 2% cash discount
and paid 40% by cheque
Jan. 25 Cash sales.........
Jan. 27 Paid to Mohan on account.
Jan. 28 Ram returns goods of sale value .......
Jan. 31 Paid Salaries ......
Jan. 31 Paid to the Petty Cashier
Jan. 31 Rejected and returned 5% of goods supplied by Mohan
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Answers
hope it's help you. and I think u haven't given full info. about the question. so, how much I understand I explain you.
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Explanation:
Jan. 1.
Cash A/c. Dr.
To Capital A/c.
( Being cash introduse as capital)
Jan. 2.
Purchase A/c. Dr.
To Cash A/c.
(Being goods purchase in cash)
Jan. 5.
purchase A/c. Dr.
To Mohon A/c.
(Being goods purchase form Mohon on credit)
Jan. 7.
Bank A/c. Dr.
To Cash A/c.
(Being open a bank account in BANK OF INDIA )
Jan. 10.
Furniture A/c Dr.
To cash A/c.
( Being purchase a furniture for office use )
Jan. 15.
Cash A/c Dr.
To Sales A/c.
( Being goods sold in cash )
Jan. 20.
Bank A/c. Dr. 39200
Cash A/c. Dr. 58800
Discount Allowed A/c. Dr. 2000
to Sales A/c. 100000
(Being goods sold in cash and recived 40% in cheque and and also allowed C.D and T.D)
Jan. 25.
Cash A/c. Dr.
To Sales A/c.
(Being goods sold in cash )
Jan. 27.
Mohon A/c. Dr.
To Bank A/c.
( Being amount paid to Mohon on account )
Jan. 28.
Return Inward A/c. Dr.
To Cash A/c.
(Being sold goods return by Ram )
Jan. 31.
Salaries A/c. Dr.
To Cash A/c.
( Being salary paid in cash )
Jan.31.
Mohon A/c. Dr.
To Return Inward A/c.
( Being 5% goods return to Mohon )