Question

Compound Journal Entries
4. Pass necessary Journal entries for the following transactions:
2020
April
5 Paid salaries 20,000, rent*5,000 and wages 6,000 by cheque.
April 7 Purchased goods from Hari for 30,000 at 10% trade discount and 2% cash discount.
Payment was made immediately.
April 15 Paid to Raju 5,000 in cash and 7,000 by cheque.
April 18 Goods sold to Roma for 5,000 at 20% Trade discount and 3% Cash discount. Half of the
payment was received immediately.
April 20 Goods sold to Ramesh for 8,000. He paid 5,000 by cheque immediately.
April 25 Additional capital introduced as: cash 10,000; and Delivery Van (Personal asset) of 50,000,
April 26 Cash paid to Anil 975. Discount received * 25.
April 30 Paid to Raju 5 1,000 in cash and 2,000 by cheque,
April 30 Paid * 4,800 to Mohan in settlement of his account for 5,000.​

Answer 1

Explanation:

April 5

Salary A/C Dr 20,000

Rent A/c Dr 5000

wages A/c Dr 6000

To capital A/c 31000

April 7

Purchase A/c 27000

To discount A/c 540

To Cash A/c 26460

April 15

Raju A/c Dr 12000

To cash A/c 5000

To bank A/c 7000

April 18

Cash A/c Dr 1940

Discount A/c Dr 120

Roma A/c Dr 1940

To sales A/c 4000

April 20

Bank A/c Dr 5000

Ramesh A/c Dr 3000

To sales A/c 8000

April 25

Cash A/c Dr 10,000

To capital A/c

Note : delivery van is personal asset)

April 26

Anil A/c Dr 1000

To discount A/c 25

To Cash A/c 975

April 30

Raju A/c Dr 3000

To bank A/c 2000

To cash A/c 1000

Mohan A/c Dr 5000

To Cash A/c 4800

To discount A/c 200