Question

7
1.00
020
10,005
April
April
April
4r
5. Journalise the following transactions in the books of Afzal, Kolkata and post them to the Ledger
2020
Jan. 1 Started business with cash.
Jan
3 Bought goods on credit from Gupta & Co.
Jan. 5 Cash sales........
Jan. 8 Cash purchases
Jan. 10 Sold goods to Ahmed & Co..........
Jan 11 Deposited cash in bank.....
Jan. 13 Purchased a computer for office
Jan. 15 Took a loan from Mehboob.
Jan. 16 Goods returned by Ahmed & Co..
Jan. 17 Purchased furniture from Mehfil Mart
Jan. 18 Pald interest to Mehboob
Jan.
19 Received claim from Ahmed & Co. for defects in goods supplied to them. Claim was
accepted and rebate was allowed.
Jan.
22 Paid rent by cheque..
Jan. 24 Withdrew from bank.
Jan. 25 Sales of goods at counter after allowing trade discount of 10%..
Jan.
26 Goods purchased from Gupta & Co. were destroyed by accident.
Jan. 27 Advertisement expenses paid through bank..........
Jan.
28 Ahmed & Co. settled their account by cheque ......
Jan.
29 Paid the due amount to Gupta & Co. by cheque after availing discount of 800
Jan.
31 Sold old newspapers........
20.000
70,000
2,000
10,000
2,000
Apr
1,000
2,000
20,000
10,000
10,000
5,000
7,000
500
6. Following balances exist in the books of Ashok, Delhi on 1st, Anril, 2020​

Answer 1

Answer:

Jan. 3 Purchased from M/s. Birla Mills, Kolkata: 100 pieces long cloth @ 800 each 50 pieces shirting @ R500 each

Jan. 8. Purchased for cash from M/s. Ambika Mills, Ahmedabad: 50 pieces muslin @ 1,000 each

• Jan. 15 Purchased from M/s. Arvind Mills, Ahmedabad: 20 pieces coating @ +2,000 each 10 pieces shirting @ 500 each Jan. 20 Purchased from M/s. Bharat Computers Ltd., Kolkata: 5 printers @ 4,400 each Shou

Explanation:

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