Question

Journalise the following transactions and posting them in ledger:- (8)
June 5 Acquire the running business of max, for cash 50,000 by taking over the following assets and liabilities at value:
Stock of goods 15,000 ; cash 25,000 ; Furniture 10,000.
June 6. Opened a bank account with 5,000.
June 7 Bought goods worth 6,000 from Usha & Co. And paid half the amount in cash.
June 8 Sold to Bee & Co. Goods worth Rs 5,000 and a cheque received for the due.
June 14 Sold private car for 4,000 and bought a new one for business with the proceeds plus 5,000 from office cash.
June 16 Bought furniture worth Rs 4,000 of which, those worth Rs 1,000 are for office use and the balance for stock.
June 18 Sold goods to Arial & Co. 8,000 and to Wheel & Co. 7,000.
June 19 payment made to creditors 4,500.
June 20 Cash received from debtors 5,800.
June 25 Paid rent by cheque 2,500.
June 30 Commission received 3,000.

Answer 1

Answer:

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Explanation:

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