50 transaction of journal entry with solution
Answers
.) siya ram and co. started business with cash ---50,000
cash A/c Dr. 50,000
To capital A/c. 50,000
.) hajms purchase goods for cash --20,000
purchases A/c. Dr. 20,000
To cash A/c. 20,000
.) purchase goods from Kush---12,000
purchases A/c Dr. 12,000
To kush. 12,000
.) purchase furniture for cash--6,000
furniture A/c. Dr. 6,000
To cash A/c. 6,000
.) paid cash to kush --12,000
kush. Dr. 12,000
To cash A/c 12,000
.) purchase goods from ravi for cash ---7500
purchases. A/c Dr. 7500
To cash A/c. 7500
.) bought machinery for cash ---8,000
Machinery A/c. Dr. 8,000
To cash A/c 8,000
.) paid rent --- 20,000
rent A/ c. Dr. 20,000
To cash A/c. 20,000
.) sold Goods to ram ---30,000
cash A/ c. Dr. 30,000
To sales A/ c 30,000
.) paid wages ---10,000
wages A/ c Dr. 10,000
To cash A/c 10,000
.) paid salary to gopal-- 1200
salary A/c. Dr. 1200
To cash A/ c. 1200
.) received commission ---15000
cash A/c. Dr. 15000
To commission A/ c. 15000
.) purchase goods from ravi of the list price of 20,000 at 15% trade discount
purchases A/c Dr. 17000
To Ravi 17000
.) paid insurance premium by cheque ----12000
Insurance premium A/c. Dr. 12000
To bank A/c. 12000
.) sold Goods to harshu for 50000 at 20% trade discount and 5% cash discount . harshu paid 40% immediately through a banker cheque.
Bank A/ c Dr. 15200
Discount allowed A/c Dr. 800
harshu. Dr. 24000
To sales. A/ c. 40,000
.) cash received from ram on behalf of shyam ----5000
cash. A/c. Dr. 5000
To shyam. 5000
.) paid into bank for opening a current account ---10000
bank A/ c. Dr. 10000
To cash. A/c. 10000
.) cash sales of 40000 out of which 30000 deposited in bank
cash A/c. . Dr. 10000
bank A/c. . Dr. 30000
To sales A/c. 40000 .)withdrawn for private use ---10000
Drawings A/c. Dr. 10000
To cashA/c. 10000
.) placed on fixed deposit account at bank by transferring from current account --- 20000
Fixed deposit A/c Dr. 20000
To bank A/c. 200000