Give Journal entry from the following Information in the Books of Pooja Garments. 2021 April 1 Purchased Goods of ₹ 20,000 from Suresh Trading at 10% Trade Discount Plus CGST and SGST @ 9% each. April 5 Sold Goods of ₹ 10,000 to Krishna Brothers at 10% Trade Discount and 2 % Cash Discount Plus 11% IGST. April 20 Goods returned to Suresh Trading costing ₹ 5,000.
Answers
Answer:
Explanation:
On 1st April, 2019, Mohit, Delhi started business with a capital of ₹ 50,000. He made the following transactions during the month of April:
2019 ₹
April 3 Purchased goods from Rita, Delhi on credit for 20,000
April 4 Cash paid to Rita 10,000
April 6 Goods sold to Rohit, Chandigarh 25,000
April 8 Received cash from Rohit 20,000
April 12 Goods purchased from Rita 12,000
April 18 Cash paid to Rita 20,000
April 25 Goods sold to Rohit, Chandigarh 10,000
April 30 Received cash from Rohit 6,000
You are required to journalise the above transactions and show the respective Ledger accounts.
ANSWER:
Journal
Date
Particulars
L.F.
Debit
Amount
(₹)
Credit
Amount
(₹)
2019
Apr.01
Cash A/c
Dr.
50,000
To Capital A/c
50,000
(Business started with cash)
Apr.03
Purchases A/c
Dr.
20,000
To Rita
20,000
(Goods purchased from Rita on credit)
Apr.04
Rita
Dr.
10,000
To Cash A/c
10,000
(Cash paid to Rita)
Apr.06
Rohit
Dr.
25,000
To Sales A/c
25,000
(Goods sold to Rohit on credit)
Apr.08
Cash A/c
Dr.
20,000
To Rohit
20,000
(Cash received from Rohit)
Apr.12
Purchases A/c
Dr.
12,000
To Rita
12,000
(Goods purchased from Rita on credit)
Apr.18
Rita
Dr.
20,000
To Cash A/c
20,000
(Cash paid to Rita)
Apr.25
Rohit
Dr.
10,000
To Sales A/c
10,000
(Goods Sold to Rohit)
Apr.30
Cash A/c
Dr.
6,000
To Rohit
6,000
(Cash received from Rohit)
Cash Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
2019
2019
Apr.01
Capital A/c
50,000
Apr.04
Rita
10,000
Apr.08
Rohit
20,000
Apr.18
Rita
20,000
Apr.30
Rohit
6,000
Apr.30
Balance c/d
46,000
76,000
76,000
May.01
Balance b/d
46,000
Capital Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
2019
2019
Apr.30
Balance c/d
50,000
Apr.01
Cash A/c
50,000
50,000
50,000
May.01
Balance b/d
50,000
Purchases Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
2019
2019
Apr.03
Rita
20,000
Apr.30
Balance c/d
32,000
Apr.12
Rita
12,000
32,000
32,000
May.01
Balance b/d
32,000
Rita
Dr.
Cr.
Date
Particulars
J.F.
Amount
(Rs)
Date
Particulars
J.F.
Amount
(Rs)
2018
2018
Apr.04
Cash A/c
10,000
Apr.03
Purchases A/c
20,000
Apr.18
Cash A/c
20,000
Apr.12
Purchases A/c
12,000
Apr.30
Balance c/d
2,000
32,000
32,000
May.01
Balance b/d
2,000
Rohit
Dr.
Cr.
Date
Particulars
J.F.
Amount
(Rs)
Date
Particulars
J.F.
Amount
(Rs)
2018
2018
Apr.06
Sales A/c
25,000
Apr.08
Cash A/c
20,000
Apr.25
Sales A/c
10,000
Apr.30
Cash A/c
6,000
Apr.30
Balance c/d
9,000
35,000
35,000
May.01
Balance b/d
9,000
Sales Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(Rs)
Date
Particulars
J.F.
Amount
(Rs)
2018
2018
Apr.30
Balance c/d
35,000
Apr.06
Rohit
25,000
Apr.25
Rohit
10,000
35,000
35,000
May.01
Balance b/d
35,000
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