7. Journalise the following transactions and post them to ledger and on the
(Manonmaniam B.
mm
helaner
April 1995
1
Started Business with a Capital of Rs.5,000
2. Purchased goods from Guru for Rs.1,500
Paid to Guru in full in Cash Rs.1,450
4 Sold goods to Kamal for Rs.500
5 Received Cash from Kamal Rs.450 in full settlement
6 Paid Salary Rs.300
7 Purchased Furniture for Rs.1,000
8 Sold goods for Rs.1,300
9 Received Interest Rs.50
10 Deposited Cash into Bank Rs.1,000
11 Paid wages Rs. 100
12 Withdrew cash from Bank for personal use Rs.200.
(Bharathlar B.Com. November 1994
Ans: Closing Cash Rs.2,750: Total of Trial Balance Ra6,900
Answers
JOURNAL ENTRIES
1 April 1995
Cash A/C Dr 5,000
To Capital A/C 5,000
( Being business commenced with the capital of 5,000)
2 April 1995
Purchase A/C Dr 1,500
To Guru A/C 1,500
( Being goods purchased on credit )
3 April 1995
Guru A/C Dr 1,500
To Discount A/C 50
To Cash A/C 1,450
( Being cash paid to Guru for full settlement of his account )
4 April 1995
Kamal A/C Dr 500
To Sales A/c 500
( Being goods sold on credit )
5 April 1995
Cash A/C Dr 450
Discount A/C Dr 50
To Kamal A/C 500
(Being goods sold and given discount )
6 April 1995
Salary A/C Dr 300
To Cash A/C 300
(Being salary paid )
7 April 1995
Furniture A/C Dr 1,000
To Cash A/C 1,000
(Being furniture purchase for cash )
8 April 1995
Cash A/C Dr 1,300
To Sales A/C 1,300
( Being sales done )
9 April 1995
Cash A/C Dr 50
To Interest A/C 50
( Being interest received )
10 April 1995
Bank A/C Dr 1,000
To Cash A/C 1,000
( Being cash deposited into bank )
11 April 1995
Wages A/C Dr 100
To Cash A/C 100
(Being wages paid )
12 April 1995
Drawing A/C Dr 200
To Bank A/C 200
( Being cash withdrawn from bank for personal use)
LEDGER
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