Question

From the following transactions write journal in the books of pranjal
1) Introduced ₹10,000 cash and commenced business.
2) Goods of ₹5000 purchased on cash.
3) Goods of ₹8000 purchased on credit from rajan.
4) Goods of ₹2000 given for donations.
5) Shivani has dispatched the goods of ₹3000.
6) Paid ₹2500 of life insurance premium.

Answer 1

Answer:

     in the books of pranjal

1. cash a/c dr

to capital a/c

(being cash introduced into business)

2. purchases a/c dr

to cash a/c

(being goods brought for cash)

3. purchases a/c dr

to rajan a/c

(goods purchased on credit from rajan)

4. donations a/c dr

to purchases a/c

(being goods given for donation)

6. insurance premium a/c dr

to cash a/c

(cash paid for insurance premium)