Question

9

b) Journalise the following transactions:
2015
Nov. 1 Agarwal commenced business with Rs.300000
2 Purchased Machinery 25000
Purchased furniture from Godrej 10000
Purchased goods Rs. 12000
5 Goods purchased from Krishna Mohan 60000
Sold goods for cash 20000
Cash deposited into bank 6000
8 Issued cheque to Godrej Co. 50000
9 Cash withdrawn for personal use 6000
10 Paid salaries by cheque 40000
11 Goods returned to Krishna Mohan 6000
12 Goods returned by Rajesh & Co. 300

Answer 1

Concept:

Preparing journal entries for the following transactions.

Given:

It is given that respective transaction of the year 2015.

Find:

We have to prepare journal entries for the following transactions of 2015.

Solution:  

 Journal Entry for the following transactions

Date  Particulars             Debit Amount Credit Amount

2015  

Nov-01 Cash A/c               Dr    3,00,000

         To Capital A/c                                3,00,000

(Being business started with cash)  

Nov-02 Machinery A/c       Dr     25,000

          To Cash A/c                                    25,000

(Being machinery purchased)  

Nov-02 Furniture A/c            Dr      10,000

           To Godrej Co. A/c                              10,000

(Being furniture purchased on credit from godrej)  

Nov-02 Purchase A/c            Dr        12,000

             To Cash A/c                                        12,000

(Being goods purchased in cash)  

Nov-05 Purchase A/c              Dr 60,000

            To Krishna Mohan A/c                         60,000

(Being goods purchased on credit)  

Nov-05 Cash A/c                    Dr          20,000

             To Sales A/c                                          20,000

(Being goods sold in cash)  

Nov-05 Bank A/c                    Dr             6,000

            To Cash A/c                                             6,000

(Being cash deposited into the bank)  

Nov-08 Godrej Co. A/c            Dr   50,000

           To Bank A/c                                                    50,000

(Being cheque issued)  

Nov-09 Drawings A/c               Dr    6,000

         To cash A/c                                                         6,000

(Being cash withdrawn for personal use)  

Nov-10 Salary A/c                      Dr   40,000

        To Bank A/c                                                          40,000

(Being salaries paid by cheque)  

Nov-11 Krishna Mohan A/c          Dr    6,000

         To purchase return A/c                                   6,000

(Being goods returned)  

Nov-12 Sales return A/c               Dr       300

          To Rajesh & Co. A/c                                                 300

(Being goods returned by Rajesh & Co)  

                                                     5,35,300                 5,35,300

#SPJ2

Answer 2

Explanation:

Journalise the following transactions:

2015

Nov. 1 Agarwal commenced business with Rs.300000

2 Purchased Machinery 25000

Purchased furniture from Godrej 10000

Purchased goods Rs. 12000

5 Goods purchased from Krishna Mohan 60000

Sold goods for cash 20000

Cash deposited into bank 6000

8 Issued cheque to Godrej Co. 50000

9 Cash withdrawn for personal use 6000

10 Paid salaries by cheque 40000

11 Goods returned to Krishna Mohan 6000

12 Goods returned by Rajesh & Co. 300