Question

mr Nakayanan penting a business igice following transaction during the the Month of Feb 2012 10 Cash invested into business 1,45,000
18 sold goods to Ganesh 14,000
20 purchased goods from Daniel 33,000 23 Ganesh settled his account 13,500 26 paid to Daniel 32,000 and settled the account journalise the above transactions​

Answer 1

Explanation:

Trading and Profit and Loss Account

as on 31st December,2011

Dr Cr

Particulars Amt. (Rs.) Particular Amt. (Rs.)

To Opening Stock 25,000 By Sales 2,76,000

To Purchase 1,80,000 (-) Return Inwards 7,000

2,69,000

(-) Return Outwards 2,000

1,78,000 By Closing Stock 45,00