Question

Journal Entries Question
1. Started business with cash Rs.2, 00,000
2. purchased good from Amity Suppliers on credit of Rs.1, 50,000
3. deposite cash in to bank Rs.25,000
4. SOld goods to dynamic Traders Pvt.Ltd. of Rs. 1, 30,000
5. Received a cheque of Rs. 1, 00,000 as a parti payment to Amit suppliers.
Required
1. Prepare Journal Entries
2. Posting ledger
3. Prepare trial balance

Answer 1

1.Cash a/c. Dr. 200000
To capital. 200000
2 . Purchase a/c dr. 150000
To Amit supplier. 150000
3. Bank a/c. Dr. 25000
To cash. 25000
4. Traders a/c Dr. 30000
To sales. 30000
5 I'm not sure about it
Bank a/c Dr. 100000
To Amit. 100000