900
Compound Journal Entries
4A Journalise the following transactions
Date
Partlar
1 March, 2019 Started business with cash 2,50,000 and pola w h
5 March, 2019 Goods purchased from Binod Agarwal 50.000
10 March, 2019 Goods sold to Priyanka 30.000
20 March, 2019 Paid to Binod Agarwal 48,500 infall and finalements
22 March 2019 Received from Priyanka 29,750 and entered
Answers
Answer
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Journal Entries :-
✳️ Cash Ac Dr.......2,50,000/-
To partners Capital Ac Cr...2,50,000/-
[Being Started business with cash ]
✳️ Purchase Ac Dr....50000/-
To Cash Ac Cr.....50000/-
[ Being Goods purchased from binod ]
✳ ️Cash Ac Dr.......30000/-
To Sales Ac Cr....30000/-
[ Beinh Goods sold to priyanka ]
✳️ Binod agrwal Ac Dr......48500/-
To Cash Ac Cr.....48500/-
[ Being paid to binod agrawal ]
✳️. Cash Ac Dr......29750/-
To priyanka Ac Cr....29750/-
[ Being received cash from priyanka ]
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Answer
The journal entries are :
Mar 1 Cash A/c Dr ₹ 2,50,000
To partners Capital A/c ₹ 2,50,000
(Being Started Business with Cash )
Mar 5 Purchase A/c Dr ₹ 50,000
To Cash A/c ₹ 50,000
(Being Purchased goods from binod)
Mar 10 Cash A/c Dr ₹ 30000
To Sales A/c ₹ 30000
(Being Goods Sold To Priyanka)
Mar 20 Binod aggrwal A/c Dr ₹ 48500
To Cash A/c ₹ 48500
(Being Paid To Binod Aggarwal)
Mar 22 Cash A/c Dr ₹ 29750
To priyanka A/c ₹ 29750
( Being received cash from priyanka)
Total = ₹ 4,08,250
₹ 4,08,250