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
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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
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