Question

7. Journalise the following transactions

2018 April 1 - Received an order for goods Rs 1, 20, 000 from M/S Gauri Shankar and sons.

3 -Received order for goods from M/S Ranbir and Co of Rs. 5, 00, 000 along with the cheque for Rs 1, 80,000 as advance.

5 -
Placed order of goods with M/S Kohli and sons of Rs. 2, 50, 000 paid
them Rs 1,00,000 by cheque in advance.

15- Goods of Rs. 20, 000 and furniture of the book value of Rs 10, 000
destroyed by fire

20 -Goods costing Rs 50, 000 were damaged in transit, a claim was made
on railway authorities for the same

22 -Received from salesman Rs 60,000 for goods sold by him after
deducting his travelling expenses Rs 4,000

25 -Sold goods to Vishesh costing Rs 40,000 at a profit of 25% and allowed
him 10% trade discount and paid for cartage Rs 1,000 to be charged
from him

28- Received a cheque of Rs 40, 000 from railway authorities in full
settlement of claim for damage in transit
​

Answer 1

Answer:

the answer of this question

is 90.

Answer 2

Answer:

Journalise the following transactions

Explanation:

Cash A/c Dr.   50,000  

      To Capital A/c       50,000

 (Business started with cash)        

         

Apr.03 Purchases A/c Dr.   20,000  

      To Rita       20,000

 (Goods purchased from Rita on credit)        

         

Apr.04 Rita Dr.   10,000  

     To Cash A/c       10,000

 (Cash paid to Rita)        

         

Apr.06 Rohit Dr.   25,000  

     To Sales A/c       25,000

 (Goods sold to Rohit on credit)        

         

Apr.08 Cash A/c Dr.   20,000  

     To Rohit       20,000

 (Cash received from Rohit)        

         

Apr.12 Purchases A/c Dr.   12,000  

      To Rita       12,000

 (Goods purchased from Rita on credit)        

         

Apr.18 Rita Dr.   20,000  

     To Cash A/c       20,000

 (Cash paid to Rita)        

         

Apr.25 Rohit Dr.   10,000  

     To Sales A/c       10,000

 (Goods Sold to Rohit)        

         

Apr.30 Cash A/c Dr.   6,000  

     To Rohit       6,000

 (Cash received from Rohit)      

A journal entry is the act of recording any transaction, whether one that is economic or not.

An accounting diary that displays the debit and credit balances of a corporation lists transactions.

Several recordings, each of which is either a debit or a credit, may be included in the journal entry. The amount of the debits and credits must be equal in order for the journal entry to be declared balanced.

Depreciation or bond amortisation are examples of recurring items that can be recorded in journal entries.

Accounts payable normally has its own subledger that indirectly impacts the general ledger, and journal entries are frequently filed using a different module in accounting software.

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