need full explaination please answer quickly
Answers
In the Books of David
JOURNAL ENTRY
Date Particulars LF Debit Credit
1 Cash A/c ..........Dr 400000
To Capital A/c 400000
( Being started business with cash )
2 Purchase A/c .........Dr 45000
To Cash A/c 45000
( Being purchased goods )
3 Purchase A/c .........Dr 15000
To Cash A/c 10000
To Imran A/c 5000
( Being purchased goods on cash and credit )
4 Wages A/c ........Dr 5000
To Cash A/c 3000
To O/s Wages A/c 2000
( Being wages paid and wages outstanding )
5 Cash A/c .........Dr 56000
To Sales A/c 56000
( Being goods sold )
6 Machine A/c ........Dr 27000
To Cash A/c 27000
( Being purchased machine )
7 Salary A/c .......Dr 6500
To Cash A/c 6500
( Being paid salary )
8 Drawings A/c .......Dr 8000
To Purchase A/c 8000
( Being purchased refrigerator for
personal use )
9 Imran A/c .......Dr 5000
To Cash A/c 4900
To Discount received A/c 100
( Being Imran a/c settled )
10 Goods given as charity A/c ........Dr 5000
To Purchase A/c 5000
( Being goods distributed as charity )
LEDGER
Dr Cash A/c Cr
Date Particulars JF Amt Date Particulars JF Amt
1 To Capital 400000 2 By Purchase 45000
5 To Sales 56000 3 By Purchase 10000
4 By Wages 3000
6 By Machine 27000
7 By Salary 5600
9 By Imran 4900
10 By Balance c/d 360500
456000 456000
11 To Balance b/d 360500
Dr Capital A/c Cr
Date Particulars JF Amt Date Particulars JF Amt
10 To Balance c/d 400000 1 By Cash 400000
400000 400000
11 By Balance b/d 400000
Dr Purchase A/c Cr
Date Particulars JF Amt Date Particulars JF Amt
2 To Cash 45000 8 By Drawings 8000
3 To Cash 10000 10 By Goods given as charity 5000
To Imran 5000 10 By Balance c/d 47000
60000 60000
11 To Balance b/d 47000
Dr Imran A/c Cr
Date Particulars JF Amt Date Particulars JF Amt
9 To Cash 4900 3 By Purchase 5000
To Discount Received 100
5000 5000
Dr Wages A/c Cr
Date Particulars JF Amt Date Particulars JF Amt
4 To Cash 3000 10 By Balance c/d 5000
To O/s Wages 2000
5000 5000
11 To Balance b/d 5000
Dr O/s Wages A/c Cr
Date Particulars JF Amt Date Particulars JF Amt
10 To Balance c/d 2000 4 By Wages 2000
2000 2000
11 By Balance b/d 2000
Dr Sales A/c Cr
Date Particulars JF Amt Date Particulars JF Amt
10 To Balance c/d 56000 5 By Cash 56000
56000 56000
11 By Balance b/d 56000
Dr Machine A/c Cr
Date Particulars JF Amt Date Particulars JF Amt
6 To Cash 27000 10 By Balance c/d 27000
27000 27000
11 To Balance b/d 27000
Dr Salary A/c Cr
Date Particulars JF Amt Date Particulars JF Amt
7 To Cash 6500 10 By Balance c/d 6500
6500 6500
11 To Balance b/d 6500
Dr Drawings A/c Cr
Date Particulars JF Amt Date Particulars JF Amt
8 To Purchase 8000 10 By Balance c/d 8000
8000 8000
11 To Balance b/d 8000
Dr Discount received A/c Cr
Date Particulars JF Amt Date Particulars JF Amt
10 To Balance c/d 100 9 By Imran 100
100 100
11 By Balance b/d 100
Dr Goods given as Charity A/c Cr
Date Particulars JF Amt Date Particulars JF Amt
10 To Purchase 5000 10 By Balance c/d 5000
5000 5000
11 To Balance b/d 5000
Dr TRIAL BALANCE Cr
Particulars Amt Particulars Amt
Cash 360500 Capital 400000
Purchase 47000 O/s Wages 2000
Wages 5000 Sales 56000
Machine 27000 Discount Received 100
Salary 6500
Drawings 8000
Goods given as Charity 5000
459000 459000