journalise the following transactions in the book of M/S bhanu traders and post them into ledger 1. started business with cash 92000 ,2. deposit into bank 60000 , 3 . brought goods on credit from himani 40000 , 4 . purchase goods from cash 20000 , 5. return to himani 4000 , 6 sold goods for cash 20000 ,7. cheque given to himani 36000 , 8. goods sold to m/s goyal traders 350000 ,9. drew cash from bank for personal use 2000 , 10 . goyal traders return goods 3500, 11 cash deposit into bank 20000. ,12 cheque received from goyal traders 31500 ., 13. goods given as charity 2000 , 14 rent paid 3000 , 15 salary paid 7000 .,office machine purchase for cash 3000
Answers
Solution :-
- Started business with cash 92000
✪ Cash A/c Dr. → 92,000
✪ To capital A/c → 92,000
Reason for debit → cash is coming in
Reason for credit → Personal Account
- Deposit into bank 60000
✪Bank A/c Dr. → 60,000
✪To cash A/c → 60,000
Reason for debit → Increase in asset
Reason for debit → Cash is going out
- Brought goods on credit from himani 40000
✪Purchase A/c Dr → 40,000
✪To Himani A/c → 40,000
Reason for debit → purchase is an expense
Reason for credit → Himani is giver
- Purchase goods from cash 20000
✪Purchase A/c → 20,000
✪To cash A/c → 20,000
Reason for debit → purchase is an expense
Reason for credit → Cash is going out
- Purchase return to himani 4000
✪Himani A/c Dr. → 4000
✪To purchase return A/c → 4000
Reason for debit → Himani is receiver
Reason for credit → goods return to the supplier by the business
- Sold goods for cash 20000
✪Cash A/c Dr. → 20,000
✪To sales A/c → 20,000
Reason for debit → Cash is coming in
Reason for credit → sales is an income
- Cheque given to himani 36000
✪Himani A/c Dr. → 36,000
✪To bank A/c → 36,000
Reason for debit → Himani is giver
Reason for credit → Decrease in asset
- Goods sold to m/s goyal traders 350000
✪M/s goyal trader A/c Dr. → 3,50,000
✪To sales A/c → 3,50,000
Reason for debit → M/s goyal trader is receiver
Reason for credit → sales is an income
- Drew cash from bank for personal use 2000
✪Drawing A/c Dr. → 2000
✪To bank A/c → 2000
Reason for debit → Drawing is an expense
Reason for credit → Decrease in asset
- Goyal traders return goods 3500
✪Sales return A/c Dr. → 3500
✪To Goyal trader A/c → 3500
Reason for debit → It reduces in the sales
Reason for credit → Goyal is giver
- Cash deposit into bank 20000
✪Bank A/c Dr. → 20,000
✪To cash A/c → 20,000
Reason for debit → Increase in asset
Reason for credit → Cash is going out
- Cheque received from goyal traders 31500
✪Bank A/c Dr. → 31,500
✪To Goyal trader A/c → 31,500
Reason for debit → Increase in asset
Reason for credit → Goyal trader is giver
- Goods given as charity 2000
✪Charity A/c Dr. → 2000
✪To purchase A/c → 2000
Reason for debit → Charity is an expense
Reason for credit → Purchases are reduced
- Rent paid 3000
✪Rent A/c Dr. → 3000
✪To cash A/c → 3000
Reason for debit → Rent paid is an expense
Reason for credit → Cash is going out
- Salary paid 7000
✪Salary A/c Dr. → 7000
✪To cash A/c → 7000
Reason for debit → Salary paid is an expense
Reason for credit → Cash is going out
- Office machine purchase for cash 3000
✪Machine A/c Dr. → 3000
✪To cash A/c → 3000
Reason for debit → Machine come in. Purchase is expense
Reason for credit → Cash is going out