Question

for cash 20. Journalise the following transaction in the Book of M / s Beauti traders. Also post them in the ledger Dec, 2017 1. Started business with cash 2. Bought office furniture 3. Paid into bank to open an current account 5. Purchased a computer and paid by cheque 6. Bought goods on credit from Ritika 8. Cash sales 9. Sold goods to Karishna on credit 12. Cash paid to Mansi on account 14. Goods returned to Ritika 15. Stationery purchased for cash 16. Paid wages 18. Goods returned by Karishna 20. Cheque given to Ritika 22. Cash received from Karishna on account 24. Insurance premium paid by cheque 26. Cheque received from Karishna 28. Rent paid by cheque 29. Purchased goods on credit from Meena Traders 30. Cash sales 2.000 30.000 2,50,000 60.000 30.000 25.000 30,000 2.000 3.000 1.000 2.000 28.000 15.000 4.000 8,000 3.000 20,000 14.000​

Answer 1

Answer:

1: Cash A/c dr

to Capital A/c

( Being the business started)

2: Furniture A/c dr

to Cash A/c

( Being the furniture Purchased)

3: Bank A/c dr

to Cash A/c

(Being bank account opened)

5: Computer A/c dr

to Bank A/c

( Being Computer purchased )

6 :Purchases A/c dr

to Ritika A/c

( Being goods purchased on credit)

8: Cash A/c Dr

to Sales A/c

( Cash sales)

9: Karishma A/c Dr

to Sales A/c

( Being goods sold to Karishma)

12: Mansi A/c Dr

to Cash A/c

( Being cash paid )

14: Ritika A/c Dr

to Return Outward A/c

( Being goods returned to Ritika)

15: Stationery A/c dr

to Cash A/c

( Being Stationery Purchased)

16 :. Wages A/c Dr

to Cash A/c

( Being wages paid)

18:. Return. Inward A/c dr

to Karishma A/c

( Being goods returned by Karishma)

20: Ritika A/c Dr

to Bank A/c

( Being cheque paid to Ritika)

22: Cash A/c Dr

to Karishma A/c

( Being cash received from Karishma)

24: Insurance Premium Exp. A/c Dr

to Bank A/c

( Being insurance premium paid)

26: Bank A/c Dr

to Karishma A/c

( Being cheque received from Karishma)

28:. Rent A/c Dr

to Bank A/c

( Being rent paid)

29: Purchases A/c Dr

to Meena Traders A/c

(Being goods purchased)

30 : Cash A/c Dr

to Sales A/c

(Cash Sales)

Explanation:

I hope it helps you.

Return Outward is Purchases return.

Return Inward is Sales Return.

Sales being credit in nature , therefore sales return is opposite to sales being debit in nature

Brother you have not mentioned the amount correctly so I have not entered amount.

All the journal entries have been passed.

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Thank you