Question

.Give the Journal entries in Pawan Rai ltd. 2017 Particulars Amount April 1 Started business with cash 1,00,000 2 Cash purchases 48,000 3 Sold goods to vasu 10,000 6 Returned defective goods by vasu 1,000 8 Received cash from vasu and discount allowed 8,800 200 9 Chanderkant sold goods to us 20,000 10 Pritam purchased goods from us 12,000 10 Paid insurance premium 500 12 Paid for LIC of Pratap Rai 2,000 15 Paid cash to Chanderkant 13,780 And discount allowed by him 22018 Bought Goods from pawan,list priceRs.15,000 less 12% trade discount

22 Paid topawan 8,000

26 Received cash from pritam 6,000

30 Paid wages Rs.2,000 ,Advertisement

2,500 and salaries paid Rs.9,000

Received interest 500

Received commission 2,000.​

Answer 1

• Hi mate!
• I'm also a +1 commerce student.
• I've solved it with my all honesty and knowledge.
• There are 3 pages of solution here, so make sure to check all of them.
• At the end of Journal entries, you are to do total of debit side as well as credit side.
• Also debit side must be equal to credit side!
• I've my online test now, so I didn't do the total, I beg your pardon for that.
• I'm unsure about April 15 entry so it may be wrong but I'm sure that all other entries will be right.
• I've done so many cuttings as I'm also new at accounts so hope you'll understand :)
• I hope my work will help you and i hope my handwriting is understandable too
• Thank you very much, have a great day! :D