Journalise the following transactions in the books of Shankar Stores:-
2018
April 1 Started business with Rs.5,00,000; paid into bank Rs.4,00,000.
April 4 Purchased goods for Rs.1,40,000 in all, out of which half the goods was on credit from Mr.
Sudhir.
April 7 Purchased building for Rs.2,00,000 and paid 2% brokerage on its purchase. Also incurred
Rs.24,000 on its registration. Payment for building was made by cheque and brokerage and
registration charges were paid in cash.
April 12 Sold goods to Arun for Rs.2,00,000. Arun pays one-fourth amount in cash.
April 14 A cheque of Rs.1,48,000 is received from Arun in full settlement and the cheque is immediately
deposited into bank.
April 16 Paid stationary expenses Rs.180.
April 17 Paid fire insurance premium on building by cheque Rs.1000 and Shankar’s life insurance
premium by cheque Rs.4000.
April 20 Paid for office cleaning Rs.200.
April 28 Received a sum of Rs.2500 being rent for a portion of building let out.
April 28 Paid for advertisement in ‘The Hindustan Times’ Rs.2000.
Answers
Answer:
Bank a/c. dr. 400000
Cash a/c. dr. 100000
To capital a/c. 500000
purchase a/c. dr. 140000
To Cash a/c. 70000
To Sudhir. 70000
Building a/c. dt 228000
To bank a/ c. 200000
To cash. a/c. 28000
cash. a/ c. dr. 50000
Arun. dr. 150000
To sales a/ c. 200000
Bank a/c. dr. 148000
discount. dr. 2000
To Arun. 150000
Stationary a/ c. dr. 180
To cash a/c. 180
fire insurance premium dr. 1000
drawings. dr. 4000
To bank a/ c. 5000
sundry expenses a/ c. dr 200
To cash a/ c. 200
Cash a/c. dr. 2500
To rent received a/c. 2500
Advertisement. dr. 2000
To cash a/ c. 2000