Question

97
Purchases A/c Dr. 950, Sales A/c Cr. 1,400, Furniture A/C
Prepare Journal in the books of D.P. Singh from the following transactions and post them into Ledger :
2016
Jan. 1 Started business with capital
50,000
6 Paid into Bank
20,000
8 Purchased goods for cash
4.000
9 Paid to Ram
1,980
Discount allowed by him
20
10 Cash Sales
3,000
12 Sold to Hari for cash
2,000
15 Purchased goods from Ram
4,000
18 Paid wages to workers
300
20
Received from Pankaj
900
Allowed him discount
100
22 Drew from Bank
3,000
25 Payment made to Ram by cheque
500
27 Drew for personal use
200
31 Paid Salary and Rent 1,000 and 100 respectively
Ans. Balance in Accounts : Capital A/c Cr. 50,000, Bank A/c Dr.16,500, Cash A/c Dr 31,320, Ram's A/c Cr.
1,500, Wages A/c Dr. 300, Drawings A/c Dr. *200, Salary A/c Dr. * 1,000, Rent A/c Dr. * 100, Discount
A/c Dr. 80, Purchases A/c Dr. 8,000, Pankaj's A/c Cr. 1,000, Sales A/c Cr. 5,000]
​

Answer 1

Explanation:

97

Purchases A/c Dr. 950, Sales A/c Cr. 1,400, Furniture A/C

Prepare Journal in the books of D.P. Singh from the following transactions and post them into Ledger :

2016

Jan. 1 Started business with capital

50,000

6 Paid into Bank

20,000

8 Purchased goods for cash

4.000

9 Paid to Ram

1,980

Discount allowed by him

20

10 Cash Sales

3,000

12 Sold to Hari for cash

2,000

15 Purchased goods from Ram

4,000

18 Paid wages to workers

300

20

Received from Pankaj

900

Allowed him discount

100

22 Drew from Bank

3,000

25 Payment made to Ram by cheque

500

27 Drew for personal use

200

31 Paid Salary and Rent 1,000 and 100 respectively

Ans. Balance in Accounts : Capital A/c Cr. 50,000, Bank A/c Dr.16,500, Cash A/c Dr 31,320, Ram's A/c Cr.

1,500, Wages A/c Dr. 300, Drawings A/c Dr. *200, Salary A/c Dr. * 1,000, Rent A/c Dr. * 100, Discount

A/c Dr. 80, Purchases A/c Dr. 8,000, Pankaj's A/c Cr. 1,000, Sales A/c Cr. 5,000]