Question

Journalise the following transactions in the books of Shri Nilesh. 2020 April 1 Mr. Ram started business with cash Rs. 50,000, Fumiture Rs. 60,000 and Building Rs. 80'000. 4 Purchased goods on Credit from Ganesh of Rs. 20'000 8 Purchased Machinery of Rs. 80'000 @ 120lo GST and amount paid by cheque' 9 Paid Rent Rs. 5,000. 15 Received Commission Rs. 8,000. 20 Paid into Dena Bank Rs.40,000. 29 Sold goods for Rs. 20,000​

Answer 1

Answer:

Explanation:

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JOURNAL ENTRIES

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Cash a/c dr. 50,000

Furniture a/c dr. 60,000

Building a/c dr. 80,000

To Capital a/c cr. 1,90,000

(Ram started business with cash 50,000

,Furniture 60,000 & Building 80,000)

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Purchase a/c dr. 20,000

To Ganesh a/c cr. 20,000

(Purchased goods on Credit from

Ganesh of 20,000)

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Machinery a/c dr. 80,000

To Bank a/c cr. 80,000

(Purchased Machinery of 80,000)

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Rent a/c dr. 5,000

To Cash /c cr. 5,000

(rent paid)

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Cash a/c dr. 8,000

To Commission a/c cr. 8,000

(commission received)

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Bank a/c dr. 40,000

To Cash a/c cr. 40,000

(Deposited into bank)

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Cash a/c dr. 20,000

To Sales a/c cr. 20,000

( cash sales)

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