LUVU. 2. On 1st January, 2017, a merchant started business with a capital of 50,000 and his transactions for January, 2017 were as under : 2017 Jan. 2 Bought goods for cash 2,500. 4 Bought furniture worth 1,700. 6 Cash sales 1,500. 8 Goods sold to Bubai Stores 2,500. 9 Paid for stationery 150. 12 Received cash from Bubai Stores * 2,200. 15 Purchased goods from Bapi Traders 1.700
Answers
Explanation:
Journalise the following transaction.
2017 Jan 01 Started business with cash Rs. 50,000. Jan 05 Deposited into Bank Rs. 10,000. Jan 07 Purchased goods from Jagadish on credit for Rs. 5,000. Jan 09 Sold goods to Nagaraj for cash Rs.10,000. Jan 11 Paid cash to Jagadish Rs. 4,000. Jan 13 Paid for travelling expenses Rs. 500. Jan 15 Took goods from business for domestic use Rs.1,000. Jan 17 Outstanding Salary Rs.800. Jan 20 Credit Sales made to Raju Rs. 10,000. Jan 22 Paid for advertisement Rs. 2,000. Jan 25 Paid in as further capital Rs.12,000. Jan 27 Purchased Office Furniture Rs.3,000.Read more on /217156/journalise-the-following-transaction-2017-jan-01-started-business-with-cash-rs-50-000
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