35. Journalise the following in books of Vaibhav :
2016
Mar. 1 M/s. Ram Prashad of Jaipur commenced business as book-seller and stationery dealer
with a capital of 3,00,000.
Mar. 3 Bought new furniture for the shop of * 20,000.
Mar. 4 Bought books = 1,00,000 and paper + 50,000 in cash.
Mar. S Sold books and paper for cash 70,000.
Mar. 8 Purchased books from Macmillan & Co., Bombay = 1,20,000.
Mar. 13 Sold books to the University Library for cash 50,000.
Mar. 15 Paid for wages 7 500 and Stationery 7 1,000.
Mar. 17 Paid cash to Macmillan & Co. 11,900 and received discount 100.
Mar. 20 Received rent for a portion of the shop sublet * 15,000.
Mar. 22 Sold books and stationery to K.P. Bros. 730,000 and for cash 720,000.
Mar. 25 Received cash from K.P. Bros. 29,500 in full settlement, the balance of 500 has
been allowed as discount.
Mar. 31 Paid rent 74,500 and salaries for the month + 10,000.
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Answer:
March .1
cash a/c debit 3,00,000
To capital a/c credit. 300000
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