Ewer any FOUR questions. Each question carries TWELVE marks.
Journalise the following transactions in the books of Vajreshwari traders.
2017
Jan. 01 Business started with cash Rs. 2,00,000
and building Rs. 3,00,000
wa 04 Bought goods Rs. 60,000
05 Purchase goods from ramesh Rs. 20,000
10 Sold goods for cash Rs. 20,000
12 Bought stationary Rs. 6000
20 Sold goods to Radhika Rs. 6000
24 Paid salary to emplopyees Rs. 10,000
26 Sold to chaitra Rs. 6000
28 Chaitra returned goods to us Rs. 200
30 Paid to ramesh Rs. 19000 in full settlement of his account of Rs. 20,000
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Journal Entries in the book of Vajreshwaari Traders
2017
Jan 01 Cash Account Debit 2,00,000
Building Account debit 3,00,000
Capital Account Credit 5,00,000
jan 04 Purchase Account Debit 60,000
Cash Account Credit 60,000
Jan 05 Purchase Account Debit 20,000
Ramesh Account Credit 20,000
Jan 10 Cash Account Debit 20,000
Sale Account Credit 20,000
Jan 12 Stationary Account Debit 6,000
Cash Account Credit 6,000
Jan 20 Radhika Account Debit 6,000
Sale Account Credit 6,000
Jan 24 Salary Account Debit 10,000
Cash Account Credit 10,000
Jan 26 Chaitra Account Debit 6,000
Sale Account Credit 6,000
Jan 28 Sale Ret Account Debit 200
Chaitra Account Credit 200
Jan 30 Ramesh Account Debit 20,000
Cash Account Credit 19,000
Discount Account Credit 1,000
Explanation:
2017
Jan 01 Being business started by Cash and building (2,00,000+3,00,000)
Jan 04 Being goods purchased on Cash
Jan 05 Being Purchased goods from Ramesh on credit
Jan 10 Being Sold goods for cash
Jan 12 Being purchased stationary on cash
Jan 20 Being sold goods to Radhika on Credit
jan 24 Being salary paid by cash
Jan 26 Beieng goods sold to chaitra on credit
Jan 28 Being goods returned by chaitra
Jan 30 Being Paid to Ramesh 19000 and disll and discount allowed 1000 against full and final settlement of 20000.
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