Question

Journalize the Following transactions in the books of Ganesham Ltd. For the year 206-2017
1] Ganesh started his business with cash worth Rs. 2000
2] Borrowed from Mahesh Rs. 12,000
3] Purchased from Furniture on credit Rs. 10,000
4] Purchased goods for cash Rs. 2000
5] Purchases goods from Ram on credit Rs. 1200

Answer 1

1. cash a/c Dr. 2000
to capital. a/c. 2000
(bringing capital to business)
2. cash. a/c. Dr. 12000
to manesh. a/c. 12000
(cah borrowed from manesh)
3. furniture. a/c. Dr. 10000
to. party name* a/c . 10000
(purchase of furniture for credit)
4. purchase. a/c Dr. 2000
to. cash. a/c. 2000
(purchase of goods)
5. purchase. a/c. Dr. 1200
to. ram. A/C. 1200
(purchase of goods for credit)
*party name is missing for the transaction no. 3