Question

journalise the following transaction in the books of sita: (1). business commenced with a capital of rs 600000 (2) . Rs 450000 deposited in a bank account. (3). Rs 230000 plant and machinery purchashed by paying Rs 30000 cash immediately. (4). purchased goods worth rs 40000 for cash and rs 45000 on account. (5). paid a cheque rs 200000 to the suppier for plant and manhinery. (6). rs 70000 cash sales (of goods costing rs 50000.) (7) . withdrawn by the proprietor rs 35000 cash for person use. (8) . insurance paid by cheque of rs 2500 (9). salary of rs 5500 outstanding. (10). furniture of rs 30000 purchased in cash.


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Answer 1

Answer:

1. cash account Dr 600000

To capital account. 600000

2. Bank account. Dr 450000

To cash account. 450000

3. Plant and machinery. Dr 230000

To cash account. 30000

To Suppliers account. 200000

4. Purchase account. Dr 85000

To cash account. 40000

To bank account. 45000

5. Supplier account. Dr 200000

To bank account. 200000

6. cash account Dr 70000

To sales account. 70000

7. drawing account Dr 35000

To cash account. 35000

8. Insurance account Dr 2500

Tobank account. 2500

9 Furniture account Dr 30000

To cash account. 30000

Answer 2

1 ) cash A/c dr ₹600000
To capital ₹ 600000