Question

9. Following transactions are given to you:
a Ram started business with Furniture Rs.40,000 and Bank Rs.1,00,000
b. Sold goods at Rs 4,800. ( costing Rs. 5,000)
c. Paid insurance Rs 3000,
d. Cash received from debtor Rs. 14,500 in full settlement of Rs. 15,000
Required:(1) Journal entries (ii) cash account ​

Answer 1

Answer:

Sold goods to Arun for 8,000 for cash.

4 Paid Rent 3,000 and Electricity bill 500.

5 Purchased 100 Shares of Perfect Technologies for * 55 per share and paid Brokerage

250 by transfer through netbanking.

6 Withdrawal of goods for personal use 500.

7. Sold goods for cash 5,000 less 10% Cash Discount.

8 Deposited cash into Bank 2,000.

9 Paid 3,000 for daughter's tuition fees by Debit Card.

10

Purchased a Table for 2,000.

19 Received 1,500 by selling the scrap.

27 Paid cash into bank

Explanation:

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