e2. Journalise the following transactions. Also state the nat
1. December 1, 2011, Ajit started business with cash Rs.40,000.
ansactions. Also state the nature of each account involved in the Journal ent
2. December 3, he paid into the Bank Rs.2,000.
3. December 5, he purchased goods for cash Rs.15,000.
4. December 8, he sold goods for cash Rs.6,000.
5. December 10, purchased furniture and paid by cheque Rs.5,000.
6. December 12, he sold goods to Arvind Rs.4,000.
December 14, he purchased goods from Amrit Rs.10,000.
8. December 15, he returned goods to Amrit Rs.5,000.
9. December 16, he received from Arvind Rs.3,960 in full settlement.
10. December 18, he withdrew goods for personal use Rs.1,000.
11. December 20, he withdrew cash from business for personal use Rs.2,000.
12. December 24, he paid telephone charges Rs.1,000.
13. December 26, cash paid to Amrit in full settlement Rs.4,900.
December 31, paid for stationery Rs.200, rent Rs.500 and salaries to staff Rs. 2,000.
15. December 31, goods distributed by way of free samples Rs.1,000.
Answers
Answer:
above are the given answers
Given:
1. December 1, 2011, Ajit started the business with cash of Rs.40,000
2. December 3, he paid into the Bank Rs.2,000.
3. December 5, he purchased goods for cash Rs.15,000.
4. December 8, he sold goods for cash Rs.6,000.
5. December 10, purchased furniture and paid by cheque Rs.5,000.
6. December 12, he sold goods to Arvind for Rs.4,000.
December 14, he purchased goods from Amrit for Rs.10,000.
8. December 15, he returned goods to Amrit for Rs.5,000.
9. December 16, he received from Arvind Rs.3,960 in full settlement.
10. December 18, he withdrew goods for personal use Rs.1,000.
11. December 20, he withdrew cash from the business for the personal use of Rs.2,000.
12. December 24, he paid telephone charges of Rs.1,000.
13. December 26, cash paid to Amrit in full settlement Rs.4,900.
December 31, paid for stationery Rs.200, rent Rs.500 and salaries to staff Rs. 2,000.
15. December 31, goods distributed by way of free samples Rs.1,000.
To Find:
Journalize the following transactions.
Solution:
Journal entry
In the books of Ajit for the month ended 31st Dec 2011
1/12) Capital a/c Dr40000
To cash a/c 40000
(being business started with cash)
3/12) Bank a/c Dr2000
To cash a/c 2000
(being cash deposited into the bank)
5/12) Purchase a/c Dr15000
To cash a/c 15000
(being goods purchased for cash)
8/12) Cash a/c Dr6000
To sales a/c 6000
( being goods sold for cash)
10/12) Furniture a/c Dr5000
To bank a/c 5000
( being purchased furniture and
paid by cheque)
12/12) Arvind a/c Dr4000
To sales a/c 4000
( being goods sold to Arvind)
14/12) Purchase a/c Dr10000
To Amrit a/c 10000
( being goods purchased from Amrit)
15/12) Amrit a/c Dr5000
To purchase returns 5000
( being goods returned to Amrit)
16/12) Cash a/c Dr3960
Discount allowed a/c Dr40
To Arvind a/c 4000
(being cash received from Arvind
in full settlement)
18/12) Drawings a/c Dr1000
To purchase a/c 1000
( being goods withdrawn for personal
use)
20/12) Drawings a/c Dr2000
To cash a/c 2000
( being cash withdrawn for personal
use)
24/12) Telephone charges a/c Dr1000
To cash a/c 1000
( being cash paid for charges)
26/12) Amrit a/c Dr5000
To cash a/c 4900
To discount received a/c 100
( being cash paid to Amrit in full
settlement)
31/12) Stationary a/c Dr200
Rent a/c Dr500
Salary a/c Dr2000
To cash a/c 2700
( being cash paid for stationary, rent,
salary)
31/12) Advertisement a/c Dr1000
To purchase a/c 1000
( being goods distributed by way
of free sample)