Question

Journalise the following transactions and post them in ledger.

i) Rakesh started business with cash Rs3,00,000 and Machinery Rsl,00,000.
ii) Rent paid Rs S0,000.
iii) Purchased goods for cash Rs75.000 and received cash Discount of IOyo .
iv) Goods Rs5,000 and cash Rs 1,000 withdrawn by Rakesh for personal use.
v) Interest on capital Rs 40,000.
vi) Interest on drawings Rs 600.
vii) Salaries paid Rs20,000.

Answer 1

Answer:

Journalise the following transactions and post them in ledger.

i) Rakesh started business with cash Rs3,00,000 and Machinery Rsl,00,000.

ii) Rent paid Rs S0,000.

iii) Purchased goods for cash Rs75.000 and received cash Discount of IOyo .

iv) Goods Rs5,000 and cash Rs 1,000 withdrawn by Rakesh for personal use.

v) Interest on capital Rs 40,000.

vi) Interest on drawings Rs 600.

vii) Salaries paid Rs20,000.

Explanation:

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