Question

Journalise the following transactions in the books of Seema General Stores.
2019
Aug 1. Seema Started business with own cash 80,000, Machinery worth ₹70,000 and borrowed money
*40,000 from her friend Kavita at 12% p.a.
3) Received cash of ₹ 13100 from Ankit in full settlement of his account.
8) Deposited cash into State Bank of India 55,000.
12) Purchased goods from Ganpat of 50,000 at 28% GST and paid half the amount by cheque.
18) Sold goods to Ankit on Credit 13,000 @ 12% G.S.T.
29) paid for Salary 5000 in cash and 10000 by cheque. ​

Answer 1

Answer:yes

Explanation:

Cash account 80,000₹T

To Seema capital 80,000₹

Purchases account 70000₹

To Cash account 70000₹

Bank account 40000₹

To Loan account 40,000₹

Interest on loan account 4800₹

To Bank account 4800₹

Cash account 13100₹

To receivables account 13100₹

Bank deposit account 55000₹

To cash account 55000₹

Purchases account 50000₹

To bank account 25000₹

To cash account 25000₹

(GST is included in 50,000)

Receivables account 13000₹

To Credit sales account 13000₹

(12% gst included in the sales amount)

Salaries expenses account 15000₹

To cash account 5000₹

To bank account 10000₹