Question

HOMEWORK SECTIONS Q.1. Journalize the following transactions in the book of Mr. Bindra. 2011 June 1 Started business with cash 2,00,000, goods worth 10,000 and computer 20,000. 4 Paid into Dena Bank 1,00,000. 8 Bought goods on credit from Mona 8,000 at 6% Trade discount. 12 Sold goods to Nayna of 8,000 at 5% Trade discount 14 Goods worth 1,050 burnt by fire. 18 Received cash of 7,500 from Nayana in full settlement of her account. Drawn from bank 35,000 for his personal purpose. Paid cash of 7,400 to Mona in full settlement of her account. SUNSSES 21 24 26 Paid house rent 2,000. 29 Sold goods worth 10,000 to Divakar who paid us 6,000 on account. 30 Paid for postage and Telegram 5,000.​

Answer 1

Answer:

Explanation:

June 1     Cash A/c Dr                      2,00,000.00

                Goods (Purchase A/c Dr)   10,000.00

                 Computer A/c Dr                20,000.00

                      To Capital A/c                         2,30,000.00

     ( being Started business with cash 2,00,000, goods worth 10,000 and computer 20,000)

June 4    Bank A/c Dr      1,00,000.00

                   To Cash A/c             1,00,000.00

     (being amount deposited in Bank)

June 8    Purchase A/c Dr   7,520.00

                   To Mona                 7,520.00

     (being ought goods on credit from Mona 8,000 at 6% Trade discount)

June 12  Nayna A/c Dr   7,600.00

                   To Sales A/c         7,600.00

     (Being sold goods and allowed trade discount of 5%)

June 14    Loss by fire A/c Dr   1050.00

                      To Purchase A/c        1050.00

 (being goods worth Rs 1050.00 lost by fire)

June 18     Cash A/c Dr     7,500.00

                  Discount A/c Dr   100.00

                        To Nanya  A/c           7,600.00

     (Being amount received from Nayna in full settlement of A/c)

                 Drawings A/c Dr   35,000.00

                      To Bank A/c

    (being amount drawn from Bank for personal use)

                   Mona A/c Dr 7,520.00

                         To Cash           7,400.00

                         To Discount A/c   120.00

(being amount paid to Mona in full settlement)

                  Drawings A/c Dr    2000.00

                       To Cash A/c           2000.00

 (Being house rent paid )

*  If this would have been shop rent then Rent A/c should have been debited, If house rent paid, it is treated as drawings)

June 29  Diwaker A/c Dr   4,000.00

                Cash A/c Dr        6,000.00

                    To Sales A/c          10,000.00

 (Being Sold goods worth 10,000 to Divakar who paid us 6,000)

June 30    Postage & Telegram A/c Dr  5,000.00

                      To Cash A/c                                    5,000.00

   (Being postage expenses paid)