Question

Journalize the following transactions of Swoop Traders: 2017-Jan [PL 1) Business stared with cash 1,00,000 2) Opened bank Account with SBI ₹ 5,000 3) Purchased goods for cash 10,000 4) Sold goods to Suma 20,000 5) Goods returned from Suma 2, 000 6) Cash received from Suma 17,500 in full settlement of her A/c. 7) Paid for stationary 1,000 8) Paid rent by cheque * 4,000 9) Drew for personal use 3,000 10) Purchased furniture on credit from Anu Steels, Hubli 10, 000 11) Salary outstanding 60,000​

Answer 1

1) Opening A/C dr 1,00,000

To Cash A/C. / 1,00,000

2) Bank A/C. Dr 5,000

To Cash A/C. / 5,000.

3) Goods purchase A/C. Dr 10,000

To Cash A/C. / 10,000

4) Suma's A/C. Dr. 20,000

To Sales A/C. / 20,000.

6) Cash A/C dr.17,500

To Suma's.A/C. / 17,500

7) Stationary A/C. Dr. 1,000

To Cash A/C. / 1,000

8) Rent A/C. Dr. 4,000

To Bank A/C. /4,000

9) Drawings A/C dr. 3,000

To Cash A/C. / 3,000

10) Purchase A/C dr. 10,000

To Bank A/C. / 10,000

11) Outstanding Salary A/C. Dr. 60,000

To Cash A/C. 60,000

5th one is left do it yourself

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