Journalise the following transactions in the books of Gupta Brothers. (6 marks) 1. Started business with cash Rs. 30,000, Goods Rs. 15,000, Furniture Rs. 20,000. 2. Sold goods to Goyal Brothers on credit Rs. 6000. 3. Bought a vehicle for personal use Rs. 50,000. 4. Cheque drawn for personal use Rs. 800. 5. Cheque received from Goyal and deposited in the Bank. 6. There are outstanding salaries Rs. 500.
Answers
Answer:
Journal entries in the books of Gupta brother
Cash a\c. Dr. 30000
Purchase a\c. Dr. 15000
Furniture a\c. Dr. 20000
To capital a\c 65000
(start business with cash ,goods and furniture)
2.
Goyal Brother's a\c. Dr. 6000
To Sales a\c. 6000
(goods sold on credit to goyal Brother's )
3.
Drawings a\c. Dr. 50000
To Cash a\c. 50000
(Bought vehicles for personal use )
4.
Drawings a\c. Dr. 800
To Bank a\c. 800
(Cash withdraw from bank for personal use )
5.
Bank a\c. Dr. 6000
To Goyal Brother's a\c. 6000
(Cheque received and deposited into bank from goyal brothers )
6.
Salary a\c. Dr. 500
To o\s salary a\c. 500
(there are outstanding salaries )