Accountancy, asked by arch027002, 3 months ago

JOURNALISE THE FOLLOWING TRANSACTIONS IN THE BOOKS OF RAM & CO. :

2016

APRIL 2 A MERCHANT STARTED BUSINESS WITH 10,000
APRIL 2 GOODS WITHDRWAN BY PROPRIETOR FOR PERSONAL USE 5,000
APRIL 5 PURCHASED GOODS ON CREDIT FROM RAM 4,000
APRIL 6 PAID CASH TO MOHAN 500
APRIL 10 CASH SALES 1,000
APRIL 15 GOODS SOLD TO SOHAN 2,000
APRIL 20 RECEIVED CASH FROM GANESH 6,000
APRIL 25 PURCHASED GOODS FOR CASH 2,000
APRIL 28 PAID INCOME TAX 3,000
APRIL 28 INTEREST ON CAPITAL 300
APRIL 28 GOODS GIVEN AS CHARITY 500
APRIL 30 PAID RENT 100
APRIL 30 GOODS GIVEN AS FREE SAMPLE 1000​

Answers

Answered by akpsaditi2004
0

Answer:

Apr2  Cash A/c Dr      10,000

               To capital A/c           10,000

(being cash brought in as capital)

Apr 2 Drawings A/c  Dr   5,000

                To Purchases A/c        5,000

(being goods withdrawn by proprietor for personal use)

Apr 5 Purchases A/c  Dr   4,000

                   To Ram A/c               4000

(Being goods purchased from ram on credit)

Apr 6 Mohan A/c Dr           500

                    To Cash A/c           500

(Being cash paid to Mohan )

Apr 10 Cash A/c  Dr    1000

               To Sales                 1000

(Being goods sold)

Apr 15 Sohan A/c Dr       2000

                   To Sales A/c          2000

(Being goods sold to sohan on credit )

Apr 20 Cash A/c dr           6000

                 To Ganesh A/c            6000

(Being cash received from ganesh)

Apr 25 Purchases A/c Dr    2000

                  To Cash A/c                2000

(Being goods purchased)

Apr 28 Drawings A/c Dr        3000

                     To Cash A/c               3000

(being income tax paid )

Apr 28 Interest on capital A/c dr 300

                         To Capital A/c             300

(Being interest on Capital allowed)

Apr 28 Charity A/c Dr                500

                     To Purchases A/c        500

(Being goods given away as charity)

Apr 30 Rent A/c Dr            100

               To Cash A/c               100

(Being Rent paid )

Apr 30 Free Sample A/c Dr    1000

                 To Purchases A/c            1000

(Being goods given as free samples)

                 

Explanation:

On Apr 28 INCOME TAX paid is drawings . Income tax is paid for income earned by proprietor . So income tax paid is considered as drawings.

HOPE IT HELPED!!!

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