a) business started with cash Rs 175000
b) purchased goods from Rohit Rs 50000
c) sales goods on credit to Manish (costing Rs 17500) for Rs 20000
d) purchased furniture for office use Rs 10000
e) cash paid to Rohit in full settlement Rs 48500
f) cash received from Manish Rs 20000
g) rent paid Rs 1000
h) cash withdrawn for personal use Rs 3000
Answers
Answer:
I assume u want journal entries.
1. cash dr
to capital
2. purchases dr
to rohit
3. manish dr 20,000
to sales 20,000
4. furniture dr
to bank
5. Rohit dr 50,000
to cash 48,500
to discount received 1,500
6. Cash dr
Manish
7. rent dr
to cash
8. drawings dr
to cash
remember:
please put the amounts . I've already written the difficult ones. put them in correct format.
dont forget to add narration in ( ) starting with the word being.
anywhere where the name of the party or person is mentioned and it's not written credit or cash/bank , it's a credit transaction. so the money is yet to come.
any amount which is .... like 10,000 or above is always to be dealt through bank , unless mentioned otherwise.
anything for personal use, drawings ac comes in play.
generally whenever you see the phrase in full settlement , it is perhaps a discount. discount ac comes into play.
(please mark me the brainliest! I have done alot for just some 5pts. I would really appreciate it!!!)
Answer:
refer the notes.
let me know your thoughts by rating my answer.
Explanation:
Thank you....!!!!
