Question

journalize the following transactions
(a)started business with cash rs.5000/ and furniture of rs. 6000/_
(b) sold goods to ramesh rs. 500 and gave cash dicount @10%
(c)salary paid to hari 800/_
(d) commision received from M/s mehta and bros rs.200 /_
(e)cash rs.1000 withdrew from the business for personal purpose.​

Answer 1

Answer

Journal Entries :-

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⭐ Cash Ac Dr...5000/-

Furniture Ac Dr....6000/-

To, Proprietors Capital Ac Cr..11000/-

[ Being Started business with cash and furniture ]

⭐ Cash Ac Dr....450/-

Discount Allowed Ac Dr...50/-

To, Ramesh Ac Cr....500/-

[ Being Sold and allows a cash discount ]

⭐ Salary Ac Dr.....500/-

To, Cash Ac Cr....500/-

[ Being salary paid ]

⭐ Cash Ac Dr....200/-

To, Commission Ac Cr...200/-

[ Being Commission Received ]

⭐ Drawing Ac Dr....1000/-

To. Cash Ac Cr...1000/-

[ Being Withdrawn Cash From business For personal Use ]

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