Journalise the following transactions in the journal of M/s Gupta Bros. and post them into
the ledger.
2018 Amount Rs.
March 1 Started business with Cash 2,00,000
March 2 Opened Bank account in SBI 80,000
March 4 Goods purchased from Raj 22,000
March 5 Goods purchased for Cash 30,000
March 7 Goods sold to Naman 12,000
March 9 Cash received from Naman 11,700
Discount allowed 300
Answers
Capital cr 20,00,000
(Business started with cash)
Back ac dr 80,000
Cash ac cr 80,000
(Bank account opened and cash deposited into bank )
Purchases ac dr 22000
Raj ac cr 22000
(Goods are purchased from raj)
Purchases ac dr 30000
Cash ac cr 30000
(Goods purchased in cash )
Naman ac dr 12000
Sales ac cr 12000
( foods sold to naman)
Cash ac dr 11700
Discount allowed 300
Naman ac cr 12000
(Cash received from naman and discount allowed)
Explanation:
Journalise the following transaction in the journal of M/s. Gupta brothers and post them to the ledger:
2016
|March 01 Started business with cash
March 02
March 04 Goods purchased from Raj
March 05
March 08 Goods sold to Naman
March 10
|March 15
2,00.000
80.000
22.000 Opened bank account in SBi
Goods purchased for cash 30,000
12,000
Cash paid 22,000 to Raj_ Cash received from Naman 11.700
300 Discount allowed
March 16 Paid wages 200
March 18 Furniture 5,000 purchased for office use
March Withdrawn from bank for personal use 4.000 20
3,000
2,000
6,000
March 22 1ssued cheque for rent
March 23
March 24
March 26
March 27
March 28
March 29
Goods takenfor household purpose
Drawn cash from bank for office use
| Commission received
Bank charges Cheque issued for insurance premium
| Paid salary_
1.000
300
3.000
10.000
20 ach cales 20.000