Goods of ₹26,000 sold for ₹28,000. Carriage on this sale ₹1000. journal entry. please.
Answers
Answer:
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Page No 9.59:
Question 1:
Enter the following transactions in the Journal of Manohar Lal & Sons.:
2018 ₹
March 1 Manohar Lal & Sons started business with cash 60,000
2 Purchased furniture for cash 10,000
4 Purchased goods for cash 25,000
5 Bought goods from Kamlesh 15,000
10 Paid cash to Kamlesh 15,000
16 Purchased goods from Sohan 6,000
18 Purchased goods from Sohan for cash 8,000
20 Paid rent for the office 1,000
ANSWER:
Journal
In the Books of Manohar Lal
Date Particulars L.F. Debit Amount (₹) Credit Amount (₹)
2018
Mar. 01 Cash A/c Dr. 60,000
To Capital A/c
60,000
( Started business with cash)
Mar. 02 Furniture A/c Dr. 10,000
To Cash A/c
10,000
(Furniture purchased for cash)
Mar. 04 Purchases A/c Dr. 25,000
To Cash A/c
25,000
( Goods purchased for cash)
Mar. 05 Purchases A/c Dr. 15,000
To Kamlesh’s A/c
15,000
(Goods purchased from Kamlesh)
Mar. 10 Kamlesh’s A/c Dr. 15,000
To Cash A/c
15,000
(Cash paid to Kamlesh)
Mar. 16 Purchases A/c Dr. 6,000
To Sohan’s A/c
6,000
(Goods purchased from Sohan)
Mar. 18 Purchases A/c Dr. 8,000
To Cash A/c
8,000
(Goods purchased from Sohan for cash)
Mar. 20 Rent A/c Dr. 1,000
To Cash A/c
1,000
(Paid office rent)
TOTAL 1,40,000 1,40,000
Explanation:
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Answer:
Here is your answer
Calculate closing stock and cost of Goods sold :
opening stock ₹5,000; Sales ₹16,000; Gross profit Freight inwards, 26,000 Must include 28000.
I hope it will help you.