Question

Anna Traders furnishes the following information:
Journalise the following transactions:
1-1-2020 Started business with cash Rs. 2, 00,000
2-1-2020 Goods purchased from s Ltd Rs. 50,000
3-1-2020 Stationery purchased for cash Rs.10,000
4-1-2020 Sold goods to Biju Rs.10, 000
5-1-2020 Opened a bank account with SBI Rs. 25,000
5-1-2020 Sold goods to Sojan Rs.5,000 for cash
6-1-2020 Cheque issued to S Ltd Rs. 50,000
7-1-2020 Furniture purchased for cash Rs.10,000
8-1-2020 Interest received Rs.2,000
9-1-2020 Wages paid Rs.1,000

PLEASE ANSWER FAST. THANK YOU ❤​

Answer 1

Answer:

1

*Bank ac _dr 2L

To Capital ac 2L

(being commencement of business)

* the reason why I put "bank ac" here and not "cash ac" is because "cash" in the question means "non credit". they simply mean the business was started with un-borrowed money. it wasnt a loan. that's what cash means in the question, it doesnt actually mean physical banknotes. and as the amount is greater than 10K, we generally write Bank ac.

2

Purchases ac _dr 50K

To S Ltd. 50k

(being purchase of goods from S ltd)

3

Stationery Ac _dr 10K

To Cash ac 10K

(being purchase of stationery in cash.)

4

Biju _dr 10k

to Sales ac 10k

(being goods sold to biju)

5

SBI ac _dr 25k

To Cash ac 25k

(being ac opening in SBI)

6

Cash ac _dr 5k

to sojan 5k

(being cash sales)

7

S LTD _dr 50k

to Bank ac 50k

(being cheque issued to s ltd)

8

Furniture ac _dr 10k

to Cash ac 10k

(being furniture purchased)

9

bank ac _dr 2k

to interest received 2k

(being interest received.)

10

Wages ac _dr 1k

to Cash ac 1k

(being wages paid)

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