Question

Journalise the following transactions in the books of Mr. Sancheti.
2011 Oct. 1 Mr. Sancheti received Rs 50,000 from his uncle as a gift and deposited the same into the account of business Bank of India A/c.
3 Purchased goods of Rs 15,000 from Mahesh.
5 Sold goods on credit to Suman for Rs 18,000.
7 Goods of Rs 600 being defective returned by Suman.
11 Remitted cash to Mahesh Rs 14,800 and received discount Rs 200.
15 Bought machinery from KK & Co. Rs 30,000 and half the amount paid immediately.
17 Paid for repairs to Machinery Rs 400.
20 Purchased a horse for Rs 4,800 and carriage charges Rs 200 paid.
25 Withdrawn from bank Rs 5,000 for personal use.
27 Amount due from Girish Rs 900 is proved to be irrecoverable and has to be written off as bad.
29 Paid for sales vouchers Rs 1,100.
31 Paid Insurance Premium Rs 6,000.
plz give me the answer of this question.​

Answer 1

Explanation:

Journal entries in the books of Mr.Sancheti

date particulars Dr Cr

2011

1/10 cash A/c Dr 50000

To bank a/c 50000

( being cash deposited into bank )

3/10 purchases a/c Dr 15000

To Mahesh a/c 15000

( being credit purchase from Mahesh )

5/10 Suman Dr 18000

To sales a/c 18000

( being credit sales to Suman)

7/10 cash a/c Dr 600

To purchase return a/c 600

( being defective goods returned)

11/10 Mahesh Dr 15000

To cash a/c 14800

To discount recd 200

( being cah paid to mahesh with a discount of 200)

15/10 machinery a/c Dr 30000

To KK &co 15000

To cash a/c 15000

( being cash paid to machinery purchase and rest to be paid in future)

17/10 Repairs for machinery a/c Dr 400

To cash a/c 400

( being repairs of machinery paid )

20/10 Horse a/c Dr 4800

carriage a/c Dr 200

To cash 5000

( being horse purchased and paid carriage )

25/10 Drawings a/c Dr 5000

To cash A/C 5000

( Being drawings made)

27/10 Girish Dr 900

to Bad debts a/c 900

( being revieveable from Girish is considered bad debts)

29/10 sales vouchers a/c Dr 1100

To cash a/c 1100

( being sales vouchers paid)

31/10 insurance premium a/c Dr 6000

To cash a/c 6000

( being insurance premium paid )

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