Question

Journalise the following transactions:

a) Commenced business with cash ₹ 50,000 and Furniture ₹ 20,000.

b) Purchased machinery for ₹ 20,000 and spent ₹ 500 on its carriage and ₹ 300 on its

installation.

c) Sold goods costing ₹ 80,000 to Aruna against cheque at a profit of 25% on cost

less 15% Trade discount.

d) Goods given away as charity ₹ 1,000.

e) Charge Interest on capital of ₹ 5,00,000 @ 7%.

f) Charge 5% depreciation on building costing ₹ 2,00,000.

g) ₹ 5,000 due from Sunny are now bad debts.

h) ₹ 3,000 for wages are still outstanding.​

Answer 1

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