Question

Journalise the following transactions-
(i) Ramesh introduced capital by cash '55,000.
(ii) Purchased goods from Sunil for ' 35,000.
(iii)Sold goods to shyam, for '22,000 ,60% on credit & balance in cash.
(iv) Ramesh took goods worth '5,000 for personal use.
(v) Goods of '1,500 given as charity.
(vi) Rent paid '3,000.
(vii)salary outstanding '2,000.​

Answer 1

Answer:

(i) Cash a/c Dr

To Ramesh Capital

(Being Started with Business)

(ii) Purchase a/c Dr

To Sunil

(Being Goods Purchased form Sunil)

(iii)Shyam Credit a/c Dr

Cash a/c. Dr

To Sales

(Being Sold Goods to Shyam for 22000,60%on credit & balance in Cash)

(iv) Drawings a/c Dr

To Ramesh

(Being remesh took goods personal use)

(v)Charity a/c Dr

To Goods a/c

(being Goods of 1500 given as charity)

(vi)Rent a/c. Dr

To Cash a/c

(Being rent paid)

(vii)