Question

Journalize the following transaction, create the necessary ledger accounts and post them to the respective voucher:

• Started Business with Cash ₹ 25,00,000

• Cash withdrawn from bank for office use ₹ 52,000

• Purchased Furniture from Times Ltd ₹ 25,000

• Received from Mr Basheer ₹5,000

• Paid to Mr Amar ₹ 49,959

• Sold goods to Mr Naran for ₹ 3,000

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Answer 1

Answer:

Journal entries

1) Cash A/c. _ _ Dr

To Capital A/c

2) Furniture A/c. _ _ Dr

To Times LTd

3) Cash A/c _ _ Dr

To Mr Basheer

4) Amar A/c. _ _ Dr

To. Cash A/c

5) Naran's A/c. _ _ Dr

To Sales A/c