Question

Journalise the following

1) Rahul invested 1000000 cash in the business
2)Purchased building for 250000 in cash
3)Paid insurance rupees 5000
4) Sold goods to Rohan of rupees 50000
5)Furniture purchased for rupees 20000
6)Cash recieved from Rohan rupees 10000
7)Goods purchased from Rohan in rupees 200000
8)Rohan returned the goods of rupees 5000 due to some damage
9)Goods returned to Rahim costing rupees 10000 since it is not as per the sample
10) Amount due to Rahim was paid in cash
11)Commission revived rupees 6000

Answer 1

Explanation:

cash AC-dr. 1000000

To capital AC 100000

building A/c-dr250000

To cash A/c250000

insurance A/c dr 5000

To cash A/c 5000

rohan A/c Dr 50000

To sales a/c 50000

furniture a/c Dr 20000

to cash a/c 20000

cash a/c Dr 10000

To rohan a/c 10000

purchase a /c Dr 200000

to rohan a/c 200000

sales return A/c Dr 5000

to rohan a/c 5000

rahim a/c Dr 10000

to purchase return a/c 10000

cash a/c Dr 6000

to commission a/c 6000