Question

6. Journalize the following transactions:

1. Brought Rs. 120000 cash, machine of Rs. 40000, Furniture of Rs. 60000, Debtors Rs.

50000 and started business.

2. Draw a bill of Rs. 8000 on Ronak which he accepted and returned.

3. Purchase goods of Rs. 40000 from Dhruvi at 10% T.D. and 10% C.D. and paid 50%

amount by cash.

4. Goods of Rs. 6000 burnt by fire and insurance company accepted claim of 60 %
amount.​

Answer 1

Answer:

1. Cash a/c. Dr. 120000

Machine a/c. Dr. 40000

Furniture a/c. Dr. 60000

Debtors a/c. Dr. 50000

To capital a/c. 270000

2. B/R. Dr. 8000

To Ronak. 8000

3. Purchase a/c. Dr. 36000

To Dhruv 18000

To cash a/c. 16200

To discount received a/c. 1800

4. loss by fire Dr. 6000

To Purchase a/c. 6000

Insurance Co. Dr. 6000

To loss by fire. 6000

Bank. a/c. Dr. 3600

profit &loss a/c. Dr. 2400

To insurance company 6000