27 Journalise the following transactions. 2021
March 01 Started business with cash Rs. 75,000 and goods Rs. 25,000
March 02 Purchased goods for cash Rs. 5,000
March 04 Sold goods to Karan Rs. 9,000
March 07 Deposited into bank Rs. 5,000
March 10 Paid cash for household expenses Rs. 8,000
March 13 Salary paid Rs. 12,000
March 17 Bought goods from Suresh on credit Rs. 7,000
March 20 Returned goods to Suresh Rs. 1,000
March 23 Drew cash for personal use Rs. 2,000
March 28 Commission received in advance Rs. 3.000
March 31 Paid to Suresh Rs. 6.000
please help
Answers
Answer:
1.03.21 Cash a/c Dr. 75000
Purchases a/c Dr. 25000
To capital a/c 100000
(Being business commenced with cash and goods)
2.03.21 Purchases a/c Dr. 5000
To cash a/c 5000
(Being goods purchased for cash)
4.03.21. Karan a/c Dr. 9000
To sales a/c 9000
(Being goods sold on credit)
7.03.21. Bank a/c Dr. 5000
To cash a/c 5000
(Being cash deposited into Bank)
10.03.21 Drawings a/c Dr. 8000
To cash a/c. 8000
(Being cash paid for household expenses)
13.03.21. Salaries a/c Dr
To cash a/c
(Being salaries paid)
17.03.21 Purchases a/c Dr. 7000
To Suresh a/c 7000
(Being goods purchased from Suresh on credit)
20.03.21 Suresh a/c Dr 1000
To purchases returned a/c 1000
(Being goods returned to Suresh)
23.03.21 Drawings a/c Dr. 2000
To cash a/c 2000
(Being cash withdrawn for personal use)
28.3.21 Commission received in advance a/c Dr. 3000
To cash a/c. 3000
(Being commission received in advance)
31.3.21 Suresh a/c Dr. 6000
To cash a/c 6000
(Being cash paid to Suresh)
Hope it's helpful. Please ask in case you didn't understand any journal entry.