2020
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Q. 4. Enter the following transactions in the Journal of Gopi Chand of Delhi, post
them to the ledger and prepare a Trial Balance :
May 1 Commenced business with Cash 2,00,000 of which 31,50,000 were
deposited into bank.
3 Purchased goods on Credit from M/s Vasudev & Co. of the list price of
*50,000 less trade discount 20%.
Paid Cartage on above goods purchased
6 Returned goods to M/s Vasudev & Co., of the list price of
8 Sold goods for Cash
9 Bought a Computer against cheque
12 Issued cheque to M/s Vasudev & Co. in full settlement of their account
15 Purchased a new machine of *80,000 from Gadore Tools Ltd, Faridabad.
Gopi Chand gave a cheque of 350,000 from his savings account and
balance from firm's account.
16 Sold goods for Cash to Ashok & Co., Kanpur
18 Sold goods to Ganesh & Co., Kolkata on Credit
20 Goods for 5,000 were distributed as samples, as part of an advertising
campaign. These goods were purchased locally.
22 Received from Ganesh & Co. cheque in full settlement. The
Cheque was immediately deposited into bank.
26 Paid rent by cheque
31 Paid Salary
1,500
5.000
10,000
30,000
42.000
20.000
1,00,000
1.15.000
10,000
25.000
Answers
Answer:
25.000 is your answer
i think it help full fir you
Following are the journal entries for this question.
Explanation:
In the books of Gopi Chand of Delhi
Journal
2020
may.01 cash a/c dr. 2,00,000
bank a/c dr. 31,50,000
to capital a/c 33,50,000
( being business started with cash )
may.03 purchase a/c dr. 50,000
cartage a/c dr. 1,500
to M/s Vasudev & co. 50,000
to cash a/c 1,500
( being goods purchased and cartage paid )
may.06 M/s. Vasudev & co. dr. 5,000
to purchase return a/c 5,000
( being goods returned to seller )
may.08 cash a/c dr. 10,000
to sales a/c 10,000
( being goods sold for cash )
may.09 computer a/c dr. 30,000
to bank a/c 30,000
( being computer purchased )
may.12 M/s Vasudev & co. dr. 45,000
to bank a/c 42,000
to discount received a/c 3,000
( being payment made to seller )
may.15 machine a/c dr. 80,000
to Gadore tools ltd. 80,000
( being machine purchased )
may.16 Ashok & co. dr. 20,000
to sales a/c 20,000
( being goods sold to buyer )
may.18 Ganesh & co. dr. 1,00,000
to sales a/c 1,00,000
( being goods sold to buyer )
may.20 advertisement a/c dr. 5,000
to purchase a/c 5,000
( being goods distributed as free samples )
may.22 bank a/c dr. 1,15,000
to Ganesh & co. 1,15,000
( being payment received from buyer )
may.26 rent a/c dr. 10,000
to bank /ac 10,000
( being rent paid )
may.31 salary a/c dr. 25,000
to bank a/c 25,000
( being salary paid )