Journalise the following transactions:
2017 Jan,01 Commenced business with cash Rs. 5,000,stock of
good 20,000, machinery Rs. 10,000 and bills payab le
Rs. 1,000
Jan,02 Borrowed Rs.5, 000 from Arun and Rs. 10,000 from
Bharat.
Jan,05 Purchased goods from Charan Rs.4,000 and from
Dhanaraj Rs.6,000
Jan,15 Sold goods to Hari Rs. 8,000 and to Govind Rs 4,000
Jan,20 Received cash from Hari Rs. 7,500 and allowed him
discount Rs 500
Jan,25 Paid salary Rs. 2,000 and rent RS 1,000
Answers
Journal Entries will be entered in the following format:
Date Particulars J/F Amount (Dr.) Amount (Cr.)
2017
Jan 01 Cash A/c Dr. 5000
Purchases A/c Dr. 20000
Machinery A/c Dr. 10000
Bills Payable A/c Dr. 1000
To Capital A/c 36000
( Being Business commenced )
Jan 02 Cash A/c Dr. 15000
To Arun A/c 5000
To Bharat A/c 10000
( Being cash borrowed from Arun and Bharat )
Jan 05 Purchases A/c Dr. 10000
To Charan A/c 4000
To Dhanraj A/c 6000
( Being goods purchased on credit )
Jan 15 Hari A/c Dr. 8000
Govind A/c Dr. 4000
To Sales A/c 12000
( Being Goods sold on credit )
Jan 20 Cash A/c Dr. 7500
Discount Allowed A/c Dr. 500
To Hari A/c 8000
( Being cash received from Hari with Disc. Rs. 500 )
Jan 25 Salary A/c Dr. 2000
Rent A/c Dr. 1000
To Cash A/c 3000
( Being Rent and Salary paid )
TOTAL C/f 84000 84000
- The above entries will entered in the Journal.
- Journal is a first document in the Books of Accounts.