Joumalize the following transactions
2014
March 01 Commenced business with cash Rs. 13.000 and stock 7.000
02 Bought plant Rs. 5,000
03 Paid for postage Rs. 500
04 Withdrew cash for office use Rs. 1000
05 Paid for Sundry Expenses Rs.500
06 Paid into bank Rs. 10,000
07 Paid salaries Rs. 5,000( I want full answer with particular and narration)
Answers
Who knew that one TV show could enlighten us in so many ways! As the Muslim world is sucked into the hysteria of Ertugrul and similar Ottoman dramas, its crucial that we uncover what is historical fact, and what is purely for entertainment purposes, if we want to truly benefit from the history of the Ottoman period. I too, love watching Ertugrul and similar shows like ‘The Magnificent Century’ and ‘Yunus Emre’ which teach so many great life lessons, not to mention incorporate Quranic stories and Hadith. But at the same time instead of creating fictional heroes, lets celebrate the truth in the history and appreciate our heroes for what they ACTUALLY did.
Answer:
Required Journal Entries :
• Cash ac Dr 13,000
Stock ac Dr. 7000
To Capital ac. 20,000
( Commenced Business with cash )
• Plant ac Dr. 5,000
To cash ac. 5,000
( Bought Plant )
• Postage ac Dr. 500
To cash ac. 500
( Paid for Postage )
• Cash ac Dr. 1,000
To Bank ac. 1,000
( Withdrew cash for office use )
• Sundry Expenses ac Dr. 500
To cash ac. 500
( Paid for Sundry Expenses )
• Bank ac Dr. 10,000
To cash ac. 10,000
( Paid into bank )
• Salary ac Dr. 5,000
To cash ac. 5,000
( Paid Salaries )
Note :
- Write date on each transactions in journal
- Put amount correctly in both debit and credit sides.
Format of Journal is attached.
