Question

journalize the following transactions
2020 Jan 1 business started with cash RS 25,000
Jan 3 opened bank account with SBI RS 5,000
Jan 5 bought goods from Sathish on credit RS 7,000
Jan 7 returned goods to Sathish RS 500
Jan 8 issued cheque in favour of Sathish RS 4,000
Jan 10 gave charity Rs 500
Jan 15 paid electricity bill RS 750
Jan 18 bought office furniture RS 3000
Jan 20 drew cash from Bank for personal use RS 200
Jan 22 bought postage stamps RS 100
Jan 25 drew goods for personal use RS 1000
Jan 28 commission received in advance RS 400​

Answer 1

Answer:

Jan 1. Cash Dr

To Capital Cr

3. SBI... Dr

To cash Cr

5 Purchase Dr

To Sathish Cr

7 Sathish Dr

To purchase Return Cr

8 Bills Payable Dr

To Bank Cr

10. Charity Dr

To purchase Cr

15. Electricity Exp. Dr

To Cash /Bank Cr

18. Furniture Dr

To Cash/ Bank Cr

20. Drawing Dr

To Bank Cr

22. Postage stamp Dr

To Cash /Bank Cr

25. Drawing Dr

To purchase Cr

28. Cash Dr

To Commission Received in Advance Cr