Journalise the following transactions in the book of Mr. Ashok:
2016 Sept. 1 Commenced business with cash 80,000
4. Purchased goods for cash 5,000
8. Purchased furniture for 6,000 9. So
ld goods for ₹ 4,000
15. Bought goods from Madhavan for 10,000
17. Sold goods to Shyam for cash 2,000
20. Sold goods to Anil for 3,000 22. Paid Madhavan cash 5,000
23. Paid for stationery * 200
25. Received cash from Anil 3,000
29. Received commission 30
30. Paid salaries to Accountant 2,000
30. Paid rent to landlord 1,500
Answers
Journal entries for following transaction:
•1 sept 2016 commenced business with cash 80,000
Date Accounts. Debit Credit
1,sept Cash 80,000
2016
Owner's capital 80,000
(being business commenced with cash)
•purchased goods for cash 5,000
Date Accounts. Debit Credit
- Purchase 5,000
Cash 5,000
(being goods purchase)
•purchase furniture for 6,000
Date Accounts. Debit Credit
Date Accounts. Debit Credit - Furniture 6,000
Cash 6,000
(being purchase furniture)
•sold good for 4,000
Date Accounts. Debit Credit
Date Accounts. Debit Credit - Cash 4,000
Sales 4,000
(being sale of goods)
•Bought goods from Madhavan for 10,000
Date Accounts. Debit Credit
Date Accounts. Debit Credit - Purchase 10,000
Madhavan 10,000
(being puchase of goods from Madhavan )
•Sold goods to Shyam for cash 2,000
Date Accounts. Debit Credit
Date Accounts. Debit Credit - Cash 2,000
Sales A/c 2,000
(being sale of goods to Shyam for cash )
Sold goods to Anil for 3,000
Date Accounts. Debit Credit
- Anil 3,000
Sales A/c 3,000
(being sale of goods to Anil )
•Paid Madhavan cash 5,000
Date Accounts. Debit Credit
- Madhavan 5,000
Cash 5,000
(being Cash paid to Madhavan )
•Paid for stationery * 200
Date Accounts. Debit Credit
- Stationery exp 200
Cash 200
(being cash paid for stationery exp )
•Received cash from Anil 3,000
Date Accounts. Debit Credit
- Cash 3,000
Anil 3,000
(being cash received from anil behalf of goods sold payment )
•Received commission 30
Date Accounts. Debit Credit
- Cash 30
Commission
received A/c 30
(being commission received in cash )
•Paid salaries to Accountant 2,000
Date Accounts. Debit Credit
- Salaries A/c 2,000
Cash/Bank 2,000
(being salary paid to accountant)
•Paid rent to landlord 1,500
Date Accounts. Debit Credit
- Rent 1,500
Cash 1,500
(being cash paid to landlord for rent payment. )