Question

Journalise the following transactions of Josh Company Ltd for April 2010
a) Business started with cash Rs 10,00,000
b) Purchased Goods for cash Rs 25,000
c) Sold goods for cash Rs 50,000
d) Paid for rent Rs 20,000
e) Received for discount Rs 2,000
​

Answer 1

Explanation:

Cash a/c dr. 10,00,000

to capital a/c cr. 10,00,000

(capital introduced)

Purchase a/c dr. 25,000

to cash a/c cr. 25,000

(goods purchased)

cash a/c dr. 50,000

to sales a/c cr. 50,000

(goods sold)

rent a/c dr. 20,000

to cash a/c cr. 20,000

(rent paid)

cash a/c dr. 2,000

to discount received cr. 2,000

(discount recieved)

total 10,97,000 10,97,000