Journalise the following transactions. 2010 January 1st started business with Cash Rs. I lakes 2 january 2 Purchased goods for Rs. 5000 January 3 purchase goods on credit 300 January 4 Sold goods Rs.1.000 January 5Rest paid Rs. 500 January 8salary paid Rs. 500 January 10 interest received Rs. 150 January 12 took a bank loan Rs. 10000 January 15 cash paid to ram Rs. 2000 January 18 commission received Rs. 500 January 20 bought furniture Rs. 2000 January 23 bought machinery Rs. 3000 January 25 addition capital introduce Rs. 5000 January 27 sold machinery Rs. 250 January 30 machinery purchased Rs. 10000
Answers
Answer:
Explanation:
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- Cash a/c dr. 1,00,000
To capital a/c cr. 1,00,000
(commenced business with
cash)
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- Purchase a/c dr. 5,300
To cash a/c cr. 5,000
To Creditor(personal a/c) 300
( Purchased goods for cash
5000 & on credit 300)
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- Cash a/c dr. 1,000
To sales a/c cr. 1,000
(cash sales)
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- Rent a/c dr. 500
- Salary a/c dr. 500
To cash a/c cr. 1,000
(rent & salary paid)
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- Bank a/c dr. 150
To interest a/c cr. 150
(interest received 150)
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- Bank a/c dr. 10,000
To loan a/c cr. 10,000
(took bank loan)
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- Ram a/c dr. 2000
To Cash a/c cr. 2000
(cash paid to ram)
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- Cash a/c dr. 500
To commission a/c cr. 500
(commission received)
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- Furniture a/c dr. 2000
- Machinery a/c dr. 3000
To cash a/c cr. 5000
(Purchased furniture and
machinery)
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- Cash a/c dr. 5000
To capital a/c cr. 5000
(additional capital contributed)
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- Bank a/c dr. 250
To machinery a/c cr. 250
(machinery sold)
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- Machinery a/c dr. 10000
To cash a/c cr. 10000
(machinery purchased)
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1. Started a business with cash - Rs 1,00,000
Cash A/c ... Dr - Rs 1,00,000
- To capital A/c - Rs 1,00,000
(Being a business started with cash.)
2. Purchased goods - Rs 5,000
Purchases A/c ... Dr - Rs 5,000
- To cash A/c - Rs 5,000
(Being goods purchased by cash.)
3. Purchased goods on credit - Rs 300
Purchases A/c ... Dr - Rs 300
- To creditor's A/c - Rs 300
(Being goods purchased on credit.)
4. Sold goods - Rs 1,000
Cash A/c ... Dr - Rs 1,000
- To sales A/c - Rs 1,000
(Being goods sold for cash.)
5. Rent paid - Rs 500
Rent A/c ... Dr - Rs 500
- To cash A/c - Rs 500
(Being the rent paid.)
6. Salary paid - Rs 500
Salary A/c ... Dr - Rs 500
- To cash A/c - Rs 500
(Being the salary paid.)
7. Interest received - Rs 150
Cash/Bank A/c ... Dr - Rs 150
- To interest A/c - Rs 150
(Being interest received.)
8. Took a bank loan - Rs 10,000
Bank A/c ... Dr - Rs 10,000
- To loan A/c - Rs 10,000
(Being a loan taken from the bank.)
9. Cash paid to Ram - Rs 2,000
Ram's A/c ... Dr - Rs 2,000
- To cash A/c - Rs 2,000
(Being cash paid to Ram.)
10. Commission received - Rs 500
Bank A/c ... Dr - Rs 500
- To commission A/c - Rs 500
(Being commission received.)
11. Bought furniture - Rs 2,000
Furniture A/c ... Dr - Rs 2,000
- To cash A/c - Rs 2,000
(Being furniture purchased.)
12. Bought machinery - Rs 3,000
Machinery A/c ... Dr - Rs 3,000
- To cash A/c - Rs 3,000
(Being machinery purchased.)
13. Additional capital introduced - Rs 5,000
Cash A/c ... Dr - Rs 5,000
- To capital A/c - Rs 5,000
(Being additional capital introduced.)
14. Sold machinery - Rs 250
Cash A/c ... Dr - Rs 250
- To machinery A/c - Rs 250
(Being machinery sold.)
15. Machinery purchased - Rs 10,000
Machinery A/c ... Dr - Rs 10,000
- To cash A/c - Rs 10,000
(Being machinery purchased.)