Question

Journalise the following transactions: a. March 1, 2019 Sundar and Sons commenced business with cash Rs. 80,000. b. March 2, 2019 purchased goods for cash Rs. 7500. c. March 3, 2019 purchased typewriter for Rs. 7500. d. March 4, 2019 sold goods for cash of Rs. 25,000 @ 20% Trade discount and 5% cash discount. e. March 5, 2019 sold goods to Gopal Rs. 10,000. f. March 6, 2019 Gopal returned goods Rs. 1500. g. March 10, 2019 received from Gopal Rs. 4850 and discount allowed Rs. 150. h. March 12,2019 loss of goods by fire Rs. 2000. i. March 15, 2019 gave samples for Rs. 1000. j. March 18, 2019 goods are taken for personal amounting to Rs. 2500. k. March 22, 2019 outstanding salary Rs. 250. l. March 25, 2019 commission received Rs. 100
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Answer 1

Answer:

a. Cash A/c. Dr. 80,000

To Capital A/c. 80,000

b. Purchases A/c Dr. 7,500

To Cash A/c. 7,500

c. Typewriter A/c.Dr. 7,500

To Cash A/c. 7,500

d. Cash A/c. Dr. 19,000

Discount

Allowed A/c. Dr. 1,000

To Sales A/c. 20,000

e. Gopal A/c. Dr. 10,000

To Sales A/c. 10,000

f. Sales Return A/c Dr 1,500

To Gopal A/c. 1,500

g. Cash A/c. Dr. 4,850

Discount

Allowed A/c. Dr. 150

To Gopal A/c. 5,000

h. Loss by fire A/c Dr 2,000

To Purchases A/c. 2,000

i. Advertisement A/c Dr. 1,000

To Purchases A/c. 1,000

j. Drawings A/c. Dr. 2,500

To Purchases A/c. 2,500

k. Salary A/c. Dr. 250

To Outstanding

salary A/c. 250

l. Cash A/c. Dr. 100

To Commission

Received A/c. 100