Question

Journalize the following transactions.
2015
Mar. 1 Mr. Prasad commenced business with cash 50,000
2 Deposited in bank account 15,000
5 Bought furniture by cheque 2,000
8 Sold goods to Aruna and Co. 2,500
10 Paid Karthik by cheque 925 discount 75
15 Cash sales 25,000
18 Withdraw goods for personal use 500
25 Paid for advertisement 500
28 Withdraw from bank for office use 1000
31 Received commission 1,500​

Answer 1

Journal Entry - - - -

1. Cash A/c__________Dr_50000

____To Capital A /c_50000

2. Bank A/c________Dr_15000

_____To Cash A/c___15000

3. Furniture A/c________Dr_2000

_____To Bank A/c__2000

4. Aruna__________Dr_2500

______To Sales A/c__2500

5. Kartik A/c_______________Dr_925

Discount Received A/c_Dr_75

_______To Bank A/c__1000

6. Cash A/c___________Dr_25000

________To Sales A /c_25000

7. Drawing A/c_________Dr_500

_____To Trading A/c__500

8. Advertisement A/c_______Dr_500

____To Cash A/c___500

9. Cash A/c__________Dr_1000

____To Bank A/c_1000

10. Cash A/c___________Dr_1500

_To commission received A/c__1500