Question

Journalise the following transactions in the books of Shridevi Medical Store
2018
(s)
August 1
Shridevi started business with own Cash 90,000, Stock of goods worth * 40,000, Machinery
worth 70,000 and borrowed money 50,000 from her friend konika at 12% p.a.
Bought goods worth 50,000 from Madhuri @ 10% trade discount.
6 Returned goods worth * 450 to Madhuri for not being as per sample.
8 Sold goods worth 80,000 to Kiran @ 10% trade discount and received cash after allowing
her 5% cash discount.
13 Paid for Rent 4,000.
17 Purchased a new Machinery worth 1,00,000 from Bajaj Ltd. at 28% GST and amount paid by
debit card.
20 Paid for Salary * 27,000.
27 Purchased 4 Computers of 1,20,000 @18% GST and amount paid by Debit Card.
31 Withdrew from Bank 10,000 for personal use.​

Answer 1

JOURNAL ENTRIES IN THE BOOKS OF SHRI DEVI MEDICAL STORE

Explanation:

REFER TO THE ATTACHMENT FOR THE JOURNAL ENTRIES.