Question

36. From the following transactions of M/s. Shahid & Co. pass the necessary Journal
entries :
2016
Mar. 1 Purchased goods from Sohan for 7 40,000.
Mar. 3 Sold goods to Sahil for 10,000.
Mar. 4 Rent paid = 6,000, salary paid = 10,000.
Mar. 5 Goods returned to Sohan for 75,000.
Mar. 8 Cash sale ~ 10,000.
Mar. 10 Goods returned by Sahil for 2,000.
Mar. 12 Purchased goods for 750,000 by cheque.
Mar. 13 Cash paid to Sohan 75,000.
Mar. 15 Goods given as charity 500.
Mar. 18 Machinery bought from Ram and Sons for 1,00,000 on credit.
Mar. 24 Part of Machinery returned back to Ram and Sons, valuing 7 20,000.
Mar. 28 Cash deposited into bank 76,000.
Mar. 31 Paid salary in advance 5,000.​

Answer 1

Answer:

1. purchases acc Dr

To sohan acc

2.sahil acc Dr

To sales acc

3.rent acc Dr 6000

Salaries acc Dr 75000

To cash acc 81000

4.cash acc Dr

To sales acc

5.sohan acc Dr

To purchases return acc

6.sales return acc Dr.

To sahil acc

7.purchases acc Dr

To bank acc

8.sohan acc Dr

To Cash acc

9.chariry acc Dr

To purchases acc

10.machinery acc Dr

To ram&sons creditors acc

11.ram and sons acc Dr

To purchases return acc

12.bank acc Dr

To cash acc

13.prepaid salary ACC Dr

To cash acc

Explanation:

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