Following transactions of Ramesh for April,2018 are given below. Journalise them.
April
1. Started Business with Cash Rs.2,50,000 Machinery Rs.1,00,000
2. Opened Bank Account by depositing Rs.10,000
3. Purchase goods for Rs.78,000 from Bharath
4. Sold Goods to Tanu for Rs.93,000 and received cash at Bank 5. Paid Rs.75,000 to Bharath
Answers
Answer:
1. Cash A/c. Dr. 2,50,000
Machinery A/c. Dr. 1,00,000
To Capital A/c. 3,50,000
(cash and machinery entered inside the business in the form of capital)
2. Bank A/c. Dr. 10,000
To Cash A/c. 10,000
( opened bank account and deposited)
3. Goods A/c. Dr. 78,000
To Bharath. 78,000
(Goods purchased from Bharath)
4. Bank A/c. Dr. 93,000
To Tanu A/c. 93,000
( Goods sold to Tanu )
5. Bharath A/c. Dr. 75,000
To Cash A/c. 75,000
( Cash paid for the purchase made from Bharath)
Answer:
Opened Bank Account by depositing Rs.10,000