necessary journal entries for the following transactions:
April 1 Started business with cash Rs. 1,00,000 and deposited in bank for opening a current account Rs.60,000
April 5 Purchased 10,000 registers @ Rs.150 per register from Akriti Stationers
Allowed 5% Trade Discount and 2.5% Cash Discount if payment is made
within 15 days.
Sold goods costing Rs.2,000 to Sunil at a profit of 20% on sales less 10%
Trade Discount and paid cartage Rs.50 (to be charged from customer) Paid 30% of the amount due to Akriti Stationers. Sold personal car and paid the amount into business Rs.40,000.
Purchased a second hand machinery Rs.20,000. Paid repairing charges on above machinery Rs.500.
Goods costing Rs.10,000 destroyed by fire and insurance company paid
40% claim.
As per standing instruction bank paid mobile bill Rs.5,000
April 10
April 12 April 15
April 20
April 25
April 30
26.
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