Question

From the following transactions of the month of January 2018 prepare necessary subsidiary books of Gopal Thakur & Co., a furniture dealer
Date
Transaction
2018
Jan. 1 Assets :
Cash in hand 8,000; Cash at Bank 58,000; Due from X 18,000,
Y 30,000, Z 340,000; Stock 52,10,000; Office Equipment 70,000.
Liabilities :
Due to A 320,000 and B 525,000.
3 Purchased from A:
200 Chairs @ 180 each
50 Tables @ 600 each
Less : Discount 10%
4 Withdrew from bank 40,000.
5 Purchased for cash from Daryaganj Furniture House, Delhi :
2 Almirahs @ 4,000 each
3 Steel Cabinets @ 6,000 each
Less : Discount 5%
7 Accepted a bill drawn by B for 15,000 at one month.
8 Settled the account of B by issuing a cheque of 39,800.
10 Paid to A by cheque 50,000.
12 Acceptance given to A for the balance due to him at 45 days.
13 Purchased a Sofa Set for office use for 20,000 from Modern Furniture Co. on
credit.
15 Sold to Z :
100 Chairs @ 250 each
80 Tables @ 1,000 each
16 Received a cheque from Z for 1,20,000. The cheque is immediately sent to the
bank.
17 Y settled his account through a cheque, after deducting 2% cash discount.
18 Sold to Asif Ali :
150 Chairs @ 300 each
5 Steel Cabinets @ 8,000 each
Less : Discount 5%
20 Received a cheque from Z for 23,000 in full settlement of his account.
21 Asif Ali returned 1 Steel Cabinet.
22 Asif Ali settled his account by a cheque after deducting 2% cash discount
23 Proprietor withdrew cash 6,000 for personal use.
25 Paid for newspapers *320, salaries 6,000 and rent 3,000.
28 Received from X a bill of exchange for 10,000 for 30 days.
30 Interest allowed by bank *270.
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Answer 1

Answer:

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