Question

Journalise the following transactions
1. Mr. Tom started business with cash Rs 100000
2. Purchased land for Rs 50000
3. Machinery purchased Rs 28000
4. Salary paid Rs 1 0000
5. Rent paid Rs 8000
6. Commission received Rs 5000
7. Machinery sold Rs. 12000
8. Insurance paid Rs 7000
9. Rent received Rs. 4000
10. Sold land for Rs 14000

Answer 1

Answer:

1. Cash a/c Dr To capital a/c 100000
2. land a/c Dr To cash a/c 50000
3. machinery a/c Dr To cash a/c 28000
4. salary a/c Dr To cash a/c 10000
5. rent a/c Dr To cash a/c 8000
6. cash a/c Dr To commission recieved a/c 5000
7. cash a/c Dr To machinery a/c 12000
8. insurance premium a/c Dr To cash a/c 7000
9. cash a/c Dr To rent received a/c 4000
10. cash a/c Dr To land a/c 14000