Question

a) Business started with a capital of Rs 8,00,000
b) Furniture purchased in cash from Jai Rs. 38,000
c) Payment made to Raman Rs. 5,000
d) Commission Received from Suresh Rs. 2,000
e) Goods purchased from Ramlal Rs. 7,00,000
f) Rent paid to Anil Rs. 3,000
Dinesh Ltd. on 1st April 2015, purchased a machine from Rajesh Ltd. on hire
purchase basis. The cash price of the machine was Rs 25,000. The payment
was to be made Rs 5,000 on the date of the contract and the balance in four
annual instalments of Rs. 5,000 each plus interest at 5% per annum payable on
December 319 each year, and the first such instalment being payable on 31.12.
2015. Depreciation is to be charged @ 10% on original cost.
Make necessary ledger accounts in the books of Hire Purchaser.​

Answer 1

Answer:

                                                  Journal

 Date Particulars L.F  Debit

 Amount

   (Rs)  Credit

 Amount

  (Rs) Cash A/c .                Dr.

      To Capital A/c

(Being business started with cash) 800000

 800000

  Furniture A/c               Dr.

     To Cash A/c

(Being furniture purchased) 38000

 

38000 Raman A/c                  Dr.

       To  Cash A/c .      

(Being payment made to Raman) 5000

 

5000 Cash A/c                    Dr.

        To Commission A/c

(Being Commission received) 

2000

2000

 Purchases A/c                 Dr.

        To Ramlal  A/c 

(Being Goods purchased on credit) 

700000

 

700000

  Rent A/c                         Dr.

       To Cash A/c .   

(Being Rent Paid) 3000

 

3000



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Umang Seth answered this

2 unhelpful votes in Accountancy, Class XII-Commerce

The Trial Balance prepared by Dhanraj did not tally and the difference was transferred to Suspense Account. Subsequently, the following errors were found. Rectify the errors and show the suspense Account.

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Sangeeta answered this

3 unhelpful votes in Accountancy, Class XI-Science

Q 1. Journalise the following transactions. Post them in to ledger and prepare a Trial balance. a) Business started with a capital of Rs 8,00,000 b) Furniture purchased in cash from jai Rs. 38000 c) Payment made to Raman Rs. 5000 d) Commission Received from Suresh Rs. 2000 e) Goods purchased from Ramlal Rs. 7,00,000 f) Rent paid to Anil Rs. 3000 g) Goods sold to Jaya Bahaduri in cash Rs. 5,00,000 h) Payment made to Hari Rs. 3920 and discount received Rs. 80 i) Cash received from Neelam Rs. 1880 and discount allowed Rs. 120 j) Bad debts Rs. 400

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