Question

Journalise the following transactions in the books of Kunal Stores.
Purchased goods of 90,000 at 10% Trade Discount and 10% Cash Discount from
Rakesh and 1/3rd amount received by cheque.
Opened current account in State Bank of India by depositing 360,000.
Cash purchases 85,000.
Goods sold on credit to Tushar 320,000 @ 10% Trade Discount.
Paid Salary 4,000.
Tushar returned goods of 250.
Goods taken by Kunal for his private use * 2,000.
Purchased Laptop of 40,000 from Joshi Electronics @18% GST and paid by cheque.
Rent paid by cheque 15,000.
10
12
16
17
20
22
25 Purchased Motor car worth 2,00,000 for cash @ 18% GST and paid by Bank.
26 Goods distributed as free sample 4,000.
28
Purchased goods from Amit of 60,000 on credit.
30 Paid by ECS cash to Amit 58,500, who allowed us discount * 1,500.
30 Sold goods 5,000 at a loss of 1,000
31 Sold goods for 20,000.
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Answer 1

Answer:

1. Purchase A/c Dr 81000

To cash A/c 48600

To discount received A/c 5400

To bank A/c 27000

2. Bank A/c Dr 360000

To cash A/c 360000

3. Purchase A/c Dr 85000

To cash A/c 85000

4. Tushar's A/c Dr 288000

To sale A/c 288000

5. Salary A/c Dr 4000

to cash a/c 4000

6. Sales return A/c Dr 250

to tushar's a/c 250

7. Drawings a/c Dr 2000

to kunal's a/c 2000