Question

Journalise the following transactions in the books of Ashok trading co. (20)

2021 March

1 Started business with Cash ₹ 1,00,000, goods ₹ 15,000 and Building ₹ 5,00,000

3 Bought goods worth ₹ 80,000 from Shama at 10% Trade Discount and 10% Cash

discount. 40% amount paid through cheque.

5 Returned goods worth ₹ 550 to Shama.

7 Deposited cash ₹ 48000 in bank.

10. Sold goods worth ₹ 70,000 to Deepak on credit at 10% Trade Discount.

12 Received Rent ₹ 1,500.

15 Received cheque of ₹ 61,500 from Deepak in full settlement of his account.

18 Purchased Furniture worth ₹ 1,60,000 from Pepperfry by cheque at 12% GST.

20. Invoiced goods to Girish ₹ 60,000 at 12% GST and amount received by cheque.

22 Wages paid ₹ 21,000.

23 Paid for daughter’s School fees ₹ 37000.

27 Sold goods worth ₹ 28,000 to Rani who paid us ₹ 18,000 immediately.

28.Paid for Advertisement ₹ 8,000

29.Purchased goods worth March ₹ 1,80,000 @ 28% GST and amount paid by RTGS.​

Answer 1

Answer:

1. cash a/c dr

to goods a/c

to building a/c