Question

April 4
46. Journalise the following transactions of Moti Lal :
2014
April 1 Motihal starts business with 10,000 cash and a building worth 50,000.
April 3 Purchased goods worth 20,000, out of which goods worth 12,000 were on credit from Shyam Lal.
Sold goods on credit worth 16,000 to Ramnath.)
April 5 Received 15,600 from Ramnath in full settlement of his account.
April 7 Paid 11,800 to Shyam Lal in full settlement of 12,000 due to him.
April 8 Paid wages 500 and salaries 2,000.
April 9 Purchased a machinery from Marshal and Sons for 2,000 on credit.
April 12 Depreciation of 200 was provided on the machinery at the year end.

Answer 1

Answer:

1. Dr. Cash. 10,000

Dr. Building 50,000

Cr. Capital. 60,000

2. Dr. Purchases 20,000

Cr. cash 8000

Cr. Shyam Lal 12,000

3. Dr. Ram Nath 16,000

Cr. Sales 16,000

4. Dr. Cash 15,600

Dr. Discount allowed 400

Cr. Ramnath 16,000

5.Dr. Shyam lal 12,000

Cr. Cash 11,800

Cr. Discount received 200

6. Dr. Wages 500

Dr. Salaries 2000

Cr. cash 2500

7. Dr. Machinery 2000

Cr. Marahal and sons 2000

8. Dr. Depreciation 200

Cr. Machinery 200