Question

Journalise the following transactions in the books of M/s. Banshilal :
2017
Jan. 1
Started business with cash 50,000 and stock 40,000.
6 Salaries due to office manager 6,000.
9 Paid rent 4,000 for the next year.
12 Goods worth 3,600 were used by the proprietor for domestic purpose.
15 Received from Mahendra 2,200 and discount allowed to Mohendra 800.
18 Sold goods costing * 10,000 to Rabindra invoiced at 20% above cost less 5% trade discount.
(Hints : Sale price 10,000 + 20% i.e., *12,000 – 5% Trade discount *600 = 11,400.)
Tournalise the following transactions​

Answer 1

Answer:

1)cash ac Dr

stock ac dr

to capital ac

2) salary ac Dr

to outstanding salary ac

3) Prepaid rent ac dr

to cash ac

4) Drawings ac dr

to purchase ac

5) Cash ac dr

discount allowed ac dr

to Mahendar ac

6) Rabindra ac dr

discount allowed ac dr

to sales ac

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