Journalise the following transaction in the Book of M/s Beauti traders. Also post them in the ledger.
[tex]
\begin{tabular}[c c c}\\
Dec. 2017 & & Rs. \\
1. & Started business with cash & 2,00,000 \\
2. & Bought office furniture & 30,000 \\
3. & Paid into bank to open an current account & 1,00,000 \\
5. & Purchased a computer and paid by cheque & 2,50,000 \\
6. & Bought goods on credit from Ritika & 60,000 \\
8. & Cash sales & 30,000 \\
9. & Sold goods to Karishna on credit & 25,000 \\
12.& Cash paid to Mansi on account & 30,000 \\
14.& Goods returned to Ritika & 2,000 \\
15.& Stationery purchased for cash & 3,000 \\
16.& Paid wages & 1,000 \\
18.& Goods returned by Karishna & 2,000 \\
20.& Cheque given to Ritika & 28,000 \\
22.& Cash received from Karishna on account & 15,000 \\
24.& Insurance premium paid by cheque & 4,000 \\
26.& Cheque received from Karishna & 8,000 \\
28.& Rent paid by cheque & 3,000 \\
29.& Purchased goods on credit from Meena Traders & 20,000 \\
30.& Cash sales & 14,000 \\
\end{tabular}
[/tex]
Answers
answer is very easier to know
Journal Entries for the given Transactions
Explanation:
In the Books of M/s Beauty Traders
1) Cash A/c Dr. Rs.2,00,000
To Capital A/c Rs.2,00,000
(Being capital introduced into business)
2) Furniture A/c Dr. Rs.30,000
To Cash A/c Rs.30,000
(Being Furniture purchased)
3) Bank A/c Dr. Rs.1,00,000
To Cash A/c Rs.1,00,000
(Being Cash transferred to open Current A/c in Bank)
4) Computer A/c Dr. Rs.2,50,000
To Bank A/c Rs.2,50,000
(Being Computer purchased via cheque)
5) Purchases A/c Dr. Rs.60,000
To Ritika A/c Rs. 60,000
(Being Goods purchased on credit from Ritika)
6) Cash A/c Dr. Rs.30,000
To Sales A/c Rs.30,000
(Being Cash sales made)
7) Karishna A/c Dr. Rs.25,000
To Sales A/c Rs.25,000
(Being goods sold to Karishna on credit)
8) Mansi A/c Dr. Rs.30,000
To Cash A/c Rs.30,000
(Being Cash payment made to Mansi)
9) Ritika A/c Dr. Rs.2,000
To Purchases A/c Rs.2,000
(Being goods returned to creditor Ritika)
10) Stationary A/c Dr. Rs.3,000
To Cash A/c Rs.3,000
(Being Stationary Purchased)
11) Wages A/c Dr. Rs.1,000
To Cash A/c Rs.1,000
(Being wages paid in cash)
12) Sales Return A/c Dr. Rs.2,000
To Karishna A/c Rs.2,000
(Being goods returned by Karishna)
Sales A/c Dr. Rs.2,000
To Sales Return A/c Rs.2,000
(Being sales return adjusted)
or,their combined entry would be
Sales A/c Dr. Rs.2,000
To Karishna A/c Rs.2,000
(Being goods returned by Karishna)
13) Ritika A/c Dr. Rs.28,000
To Bank A/c Rs.28,000
(Being payment made to Ritika)
14) Cash A/c Dr. Rs.15,000
To Karishna A/c Rs.15,000
(Being cash received from Karishna)
15) Insurance Premium A/c Dr. Rs.4,000
To Bank A/c Rs.4,000
(Being insurance premium paid via cheque)
16) Bank A/c Dr. Rs.8,000
To Karishna A/c Rs.8,000
(Being payment received from Karishna)
17) Rent A/c Dr. Rs.3,000
To Bank A/c Rs.3,000
(Being rent paid via cheque)
18) Purchases A/c Dr. Rs.20,000
To Meena Traders A/c Rs.20,000
(Being goods purchased on credit from Meena Traders)
19) Cash A/c Dr. Rs.14,000
To Sales A/c Rs.14,000
(Being cash sales made)