Question

June 30 Paid life insurance premium for employees
June 30 Paid salary
19. Journalise the following transactions of Rakesh Agencies, Delhi (Proprietor Shri Rakesh
2020
1 Rakesh commenced business with cash
50.000
Jan 2 Purchased goods for cash
10.000
Jan 5 Purchased goods from Mohan, Delhi
60.000
Jan 7 Opened bank account with Bank of India
10.000
Jan 10 Purchased furniture for office
2.000
Jan 15 Sold goods for cash
8.000
20 Sold goods to Ram of the list price of 1.25.000 less 20% Trade discount and 2% cash discount
and paid 40% by cheque
Jan 25 Cash sales
3.500
Jan 27 Paid to Mohan on account
3.000
Jan 28 Ram returns goods of sale value
5.000
Jan 31 Paid Salaries
9.000
Jan. 31 Paid to the Petty Cashier
3.000
Jan 31 Rejected and returned 5% of goods supplied by Mohan​

Answer 1

Answer:

1 Rakeshcommenced business with cash 50.000