Journalize the following transactions:
i) April 1'st Thomas started business with cash 80,000.
ii) April 3'rd He deposited Rs 30,000 in bank.
iii) April 4'th Purchased furniture from Area for Rs30,000 on credit.
iv) April 7'th Purchased good+for Rs IS,000 at 20% trade discount from Rant.
v) April 10th Sold goods to Salim ,of list price Rs 8,000 at trade discount of 10% and 2% cash discount if payment is received within 7 days.
vi) April 14'th Paid salaries Rs 10,000 and wages Rs2,000 by cheque.
vii) April 15'th Received payment from Salim and allowed him discount.
viii) April 18'th Withdrew for office use from bank Rs5,000.
ix) April 25'th Thomas withdrew cash Rs2,500 for personal use.
x) Apr 30'th Payment made to Rad for furniture .
Answers
April 1st
Cash a/c dr 80,000
to Thomas capital a/c 80,000
(Being Thomas started business with capital)
April 3rd
Bank a/c dr 30,000
to Cash a/c 30,000
(Being cash deposited into bank account)
April 4th
Furniture a/c dr 30,000
to creditor a/c 30,000
(Being furniture purchased on credit)
April 7th
Purchase a/c dr 12000
to Rant a/c 12,000
(Being goods purchased on credit)
Here we are not required to show trade discount in books of accounts.
April 10th
Salim a/c dr 7,200
to sales a/c 7,200
(Being goods sold)
April 14th
salaries a/c dr 10,000
wages a/c dr 2,000
to Bank a/c. 12,000
(Being salaries and wages paid by cheque)
April 15th
Cash/bank a/c dr 7,056
Discount allowed a/c dr 144
to salim a/c 7,200
(Being amount received from salim and discount allowed for timely payment)
April 18th
Petty cash a/c dr 5,000
to bank a/c 5,000
(Being amount withdrawn from bank for office use)
April 25th
Drawings a/c dr 2,500
to bank/cash a/c 2,500
(Being amount used for personal purpose)
April 30
Rad a/c dr 30,000
to cash/bank a/c 30,000
(Being amount reapaid)