Question

hello ans this question plz​

Answer 1

Journal enteries :

(1) Commence business with cash rs 2,00,000 and Land rs 50,000.

Cash A/c dr 1,00,000

Land A/c dr 50,000

To Capital A/c 1,50,000

( being business started with cash and asset )

(2) Bought Goods for cash rs 80,000

Purchase A/c dr 80,000

To Cash A/c. 80,000

( being cash purchase)

(3) Cash sales worth rs 25,000

Cash A/c dr 25,000

To sales A/c dr 25,000

(being cash sales)

(4) Bought goods on credit from salman worth rs 50,000

Purchase A/c dr 50,000

To Salman. 50,000

( being purchase on credit )

(5) Sales on Account to Ali Raza rs 12,000

Ali Raza dr 12,000

To sales A/c 12,000

( being sales to ali raza )

(6) Purchase furniture on value of cash rs 5,000 fo cash

Furniture A/c dr 5000

To Cash A/c. 5,000

( being cash purchase of furniture

(7) paid wages rs 1,000 ,rent rs 2,000 and electricity rs 1500

Wages A/c dr. 1000

Rent A/c dr 2000

Electricity A/c dr 1500

To Cash A/c 4500

(being wages,rent and electricity paid on cash )

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