Enter the following transaction in the journal of shankar stores of the year 2018
April7 Purchased Building for a 200,000 and paid
2.1
. brokerage on its purchou Altincu
2 24,000 on the registration payment for buildeling
was made by aeque and becoming and recogida
-ration charges were paid in cath.
Aprils? goods to Aguin fer R 2200,000, Ayeun pays
one-Jowth amount in cash.
Apalit Paid tre insurance premium on Building by
cheque & 1,000 and Shankar's life insurance
premitem by cheque R4,000.-
Sold
April 20 Paid for stationery & 180 and office
* 180 and office cleaning
200.
April 28 Received a sum of 2 2.500 being rent for a
portion of the building let out.
April as paid for advertisement in the Hindustan
Times a 2,000.
Answers
Explanation:
1.4. Pass Journal entries in the books of Hari Shankar & Co. from the following:
2020
April 1 Commenced business with cash
2 Purchased goods from Subhash
4 Sold goods to Ramnath
6 Ramnath returned defective goods
10 Received cash from Ramnath and
Discount allowed
12 Gopal sold goods to us
14 Paid to Gopal in full settlement of his account after deducting 5%
discount.
10.000
15 Paid Rent
5,000
16 Paid Rent of Hari Shankar's residence
18 Purchased goods for cash from Govind for 36,000 at 20% trade
discount.
20 Purchased goods from Govind for 10,000 at 20% trade discount.
24 Paid to Govind 7,850 in full settlement of his account.
25 Paid to Subhash 4,750; discount received *250.
30 Paid Wages 3400; Salaries 74,000; Advertisement expenses 800 and
Trade expenses 1,000.
[Ans. Total 1,67,000.]
Hints : April 16 : Rent of Hari Shankar's (i.e., proprietor's) residence is treated as drawings
April 24 : Discount will be *150.
Stores :