Pass Journal Entries for the following transactions and post them into Ledger
1994 and prepare Trial Balance:
Aprill Siya Ram commenced business with cash rs2,00,000
3 Purchased office furniture for cash
20,000
5 Purchased goods for cash
50,000
8 Purchased goods from Vishal Trading Co.
25,000 -
from Mohan Garments
16,000
10 Returned goods to Vishal Trading Co.
5,000 -
14 Paid cash to Vishal Trading Co. in full settlement of their account,
after deducting 5% cash discount
15 Sold goods for cash
40,000
18 Sold goods to Hero Limited, less 10% Trade Discount
30,000 -
20 Siya Ram withdrew from business for his personal use - Cash 10,000
Answers
Explanation:
cash a/c Dr 2,00,000
to Capital a/c 2,00,000
furniture a/c Dr 20,000
to cash a/c 20,000
purchase a/c Dr 5o,000
to cash a/c. 50,000
purchase a/c Dr 41,000
to visual a/c. 25,000
to mohan a/c 16,000
vishal a/c Dr 5,000
to purchase return a/c 5,000
vishal a/c Dr 20,000
to cash a/c 19,000
to discount a/c 1,000
cash a/c DR
to sales a/c 40,000
hero Ltd a/c Dr 27,000
to sales a/c 27,000
Drawings a/c Dr
to cash a/c 10,000
Answer:
cash a/c Dr 2,00,000
to Capital a/c 2,00,000
furniture a/c Dr 20,000
to cash a/c 20,000
purchase a/c Dr 5o,000
to cash a/c. 50,000
purchase a/c Dr 41,000
to visual a/c. 25,000
to mohan a/c 16,000
vishal a/c Dr 5,000
to purchase return a/c 5,000
vishal a/c Dr 20,000
to cash a/c 19,000
to discount a/c 1,000
cash a/c DR
to sales a/c 40,000
hero Ltd a/c Dr 27,000
to sales a/c 27,000
Drawings a/c Dr
to cash a/c 10,000
Explanation: