Question

Journalise the following transactions in the books of Jackson. (2019) June 1 Started business with cash ` 5,00,000. June 2 Purchased goods for cash ` 50,000. June 3 Deposited cash into bank ` 1,00,000. June 5 Withdrew cash from bank ` 10,000. June 6 Sold goods for cash ` 80,000. June 7 Purchased furniture on credit from Geeta ` 20,000. June 8 Received commission ` 500 June 9 Borrowed loan from bank ` 25,000.
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Answer 1

Answer

1- June- capital a/c     500000

            To cash a/c                     500000

2-June- purchase a/c  50000

            To cash a/c                     50000

3-June- Bank a/c          100000

              To cash a/c                     100000

5-June-Cash a/c           10000

            To bank a/c                      10000

6-June-Cash a/c            80000

            To sales a/c                           80000

7-June-Furniture a/c      20000

               to geeta's a/c                      20000

8June-commission received   500

               To cash as/c                             500

9-June- cash a/c              25000

               To bank a/c                         25000

     

Explanation: