Illustration 3: Journalise the following transactions. Also state the nature of each account
involved in the journal entry.
1. 2009 Dec. 1
Ajit stared business with Cash Rs. 40,000.
2. Dec. 3
He paid into the Bank Rs. 20,000.
3. Dec. 5 He purchased goods for cash Rs. 15,000.
4. Dec. 8 He sold goods for cash Rs. 6,000.
5. Dec. 10 He purchased furniture and paid by cheque Rs. 5,000,
6. Dec. 12. He sold goods to Arvind Rs. 4,000.
7.
Dec. 14
He purchased goods from Amrit Rs. 10,000.
8. Dec. 15 He returned Goods to Amrit Rs. 5,000.
9. Dec. 16 He received from Arvind Rs. 3,960 in full settlement,
10. Dec. 18 He withdrew goods for personal use Rs. 1,000.
11. Dec. 20 He withdrew.cash from business for personal use Rs. 2,000.
12. Dec. 24 He paid telephone charges Rs. 1,000.
13. Dec. 26 Cash paid to Amrit in full settlement Rs. 4,900.
14. Dec. 31 Paid for stationery Rs. 200, rent Rs. 500 and salaries to staff Rs. 2,000.
15. Dec. 31 Goods distributed by way of free samples Rs. 1,000.
Solution:
Expenses. Al
Answers
particulars
1 . i dont remember
2 bank a/c dr 20,000
To cash a/c 20,000
3.purchase a/c dr 15,000
To cash a/c 15,000
4.cash a/c dr 6,000
To sales a/c 6,000
5.purchase a/c dr 5,000
To bank a/c 5,000
6.Cash a/c dr 4,000
To sales a/c 4,000
7. question is not there
8. sales return a/c dr 5,000
To Amrit a/c 5000
9. cash a/c dr 3960
discount allowed a/c dr 40
To amrit a/c 4,000
10. drawing a/c dr 1000
To stock a/c 1000
11. Drawings a/c dr 2000
To cash a /c 2000
12.telephone charges a/c dr 1000
To cash a/c 1000
13. Amrit's a/c dr 5000
To cash/bank a/c 4900
To discount received 100
14. stationery a/c dr 200
To cash a/c 200
rent a/c dr 500
To cash a/c 500
salaries a/c dr 2,000
To cash a/c 2,000
15. Advertisement a/c dr 1,000
To purchase account 1,000
hope this will help you and also pleasenote i havent added narration. : )