Question

Enter the following transactions in the journal of gopi chand of Delhi, post them to the ledger and prepare a Trial Balance

May2020
1 Commenced business with cash ₹200000 of which ₹150000 were deposited into bank.

3 Purchased goods on credit from M/S vasudev & co. of the list price of ₹ 50000 less trade discount 20%
paid Cartagena on above goods purchased 1500

6 Returned goods to M/s vasudev & co., of the list price of 5000

8 sold goods for cash 10000

9 Bought a computer against cheque 30000

12 Issued cheque to M/s vasudev &co. in full settlement of their account 42000
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Answer 1

Answer:

May2020

1 Commenced business with cash ₹200000 of which ₹150000 were deposited into bank.

3 Purchased goods on credit from M/S vasudev & co. of the list price of ₹ 50000 less trade discount 20%

paid Cartagena on above goods purchased 1500

6 Returned goods to M/s vasudev & co., of the list price of 5000

8 sold goods for cash 10000

9 Bought a computer against cheque 30000

12 Issued cheque to M/s vasudev &co. in full settlement of their account 42000