Question

Journalise the following transactions. Post them into ledger and prepare a Trial
balance.
a) Business started with a capital of Rs 8,00,000
b) Furniture purchased in cash from Jai Rs. 38,000
c) Payment made to Raman Rs. 5,000
d) Commission Received from Suresh Rs. 2,000
e) Goods purchased from Ramlal Rs. 7,00,000
f) Rent paid to Anil Rs. 3,000
10

Answer 1

Answer:

cash ac Dr to capital ac

furniture ac Dr to cash ac

Raman ac Dr to cash ac

Suresh ac Dr to commission received

purchase / goods ac Dr to ramlal ac

Anil ac Dr to rent ac

Explanation:

1 business business started with capital as cash is coming into the business in form of capital

2furniture is a asset and we are purchasing a furniture in the form of cash

3payment made to Raman debit the receiver credit the giver

4 commission received is an income so credit all incomes and gains

5 we are purchasing a good from the Ramlal goods are coming into the business debit what comes in cash is going out of the business credit what goes

6 rent paid to Anil Anil is a receiver we are paying nima rent debit the receiver credit the giver