Question

(3)
21. Give journal entries for the following tanseactions.
Date 2015 Transactions
Jan 1
Jan 2
Jan 3
Started business with cash 1,50,000
Cash purchases 52,000
Sold goods to Ram 10,000
Returned Defective goods by Ram 2,000
Paid rent 1800
Jan 6
Jan 8
Jan 10
Withdraw from bank for house rent 6,000.
Or​

Answer 1

Answer:

Journal Entries

Explanation:

Jan 1

Cash A/c                       Dr.           1,50,000

       To Capital A/c                                        1,50,000

(being business started with cash)

Jan 2

Purchase A/c                Dr.           52,000

       To Cash A/c                                            52,000

(being goods purchased for cash)      

Jan 3

Ram                               Dr.             10,000

       To Sales A/c                                              10,000

(being goods sold to Ram)

Jan 4

Sales return A/c             Dr.             2,000

       To Ram A/c                                                2,000

(being defective goods returned by Ram)

Jan 5

Rent A/c                       Dr.                 1,800

       To Cash A/c                                                 18,00

(being rent paid)

Jan 10

Drawings A/c                       Dr.          6,000

       To Bank A/c                                                6,000

(being withdrawed money from bank for house rent i.e. for personal use)