Question

Journalise the following transactions of Satish: March: 1 Started business with cash 2,00,000 2 Opened Bank Account with 60,000. 3 Bought goods from M/s S. Singh & Co. 25,000. 4 Purchased computers against cheque from Computer Mart50,000. 6 Paid for courier charges 500 8 Sold goods for cash 7,000. 9 Sold goods to M/s Sharda & Co. 14,000 12 Received cheque from M/s Sharda & Co. in full settlement 13,000. 15 Goods stolen in transit (sales price 9,000, cost 8,000) 18 Paid rent of building by cheque 20,000. Half of the building is used by the proprietor for residential use. 20. Bought goods from Gaurav 45,000 @10% trade discount and 5% cash discount 25, Lokesh, who owed us 4,000 turned insolvent. A final dividend of 30p in a rupee was received.​

Answer 1

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accountancy accounting is the process of recording financial transaction paryaing to business

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Answer 2

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