Question

mr. niranjan started business with cash rs 10000 bought furniture rs 5000​

Answer 1

Answer:

Explanation:

2017

 (₹)

March 1 Shyam Sunder & Sons commenced business with cash 80,000

2 Purchased goods for cash 36,000

3 Machinery purchased for cash 4,000

4 Purchased goods from :  

 

Raghu

22,000

 

Dilip

30,000

6 Returned goods to Raghu 4,000

8 Paid to Raghu, in full settlement of his account 17,500

10 Sold goods to Mahesh Chand & Co. for ₹ 32,000 at 5% trade discount  

13 Received cash from Mahesh Chand & Co. 19,800

 Discount allowed 200

15 Paid cash to Dilip 14,850

 Discount received 150

20 Sold goods for cash 25,000

24 Sold goods for cash to Sudhir Ltd. 18,000

25 Paid for Rent 1,500

26 Received for Commission 2,000

28 Withdrew by Proprietor for his personal use 5,000

28 Purchased a fan for Proprietor's house 1,200

ANSWER:

Journal

In the Books of…

Date Particulars L.F. Debit Amount (Rs) Credit Amount (Rs)

2017          

Mar. 01 Cash A/c Dr.   80,000  

   To Capital A/c       80,000

 (Business started with cash)        

           

Mar. 02 Purchases A/c Dr.   36,000  

   To Cash A/c       36,000

 (Goods purchased for cash)        

           

Mar. 03 Machinery A/c Dr.   4,000  

   To Cash A/c       4,000

 (Machinery purchased for cash)        

           

Mar. 04 Purchases A/c Dr.   52,000  

   To Raghu’s A/c       22,000

   To Dilip’s A/c       30,000

 (Goods purchased on credit from Raghu and Dilip)      

           

Mar. 06 Raghu’s A/c Dr.   4,000  

   To Purchases Return A/c       4,000

 (Goods returned to Raghu)        

           

Mar. 08 Raghu’s A/c Dr.   18,000  

   To Cash A/c       17,500

   To Discount Received A/c       500

 (Cash paid to Raghu in full settlement)        

           

Mar. 10 Mahesh Chand & Co. Dr.   30,400  

   To Sales A/c       30,400

 (Goods sold to Mahesh Chand & Co. at trade discount)      

           

Mar. 13 Cash A/c Dr.   19,800  

 Discount Allowed A/c     200  

   To Mahesh Chand & Co.       20,000

 (Cash received from Mahesh Chand & Co.)        

           

Mar. 15 Dilip’s A/c Dr.   15,000  

   To Cash A/c       14,850

   To Discount Received A/c       150

 (Cash paid to Dilip)        

           

Mar. 20 Cash A/c Dr.   25,000  

   To Sales A/c       25,000

 (Goods sold for cash)        

           

Mar. 24 Cash A/c Dr.   18,000  

   To Sales A/c       18,000

 (Goods sold for cash)        

           

Mar. 25 Rent A/c Dr.   1,500  

   To Cash A/c       1,500

 (Rent paid)        

           

Mar. 26 Cash A/c Dr.   2,000  

   To Commission A/c       2,000

 (Commission received)        

           

Mar. 28 Drawings A/c Dr.   6,200  

   To Cash A/c       6,200

 (Cash withdrawn and fan purchased for personal use)        

 TOTAL   3,12,100 3,12,100