Question

Pass Journal Entries for the following transactions of Anjall Enterprises for April 2020. (10
Marks)
2020
April 1
April 2
Balances\n Anjali's books were
Cash Rs. 60,000; Bank Rs. 25000, Stock 9,000, Machinery Rs.
50,000 ;Furniture 20,000, Loan Rs. 50,000, Arjun (debtor) Rs.
10,000 ;Krishna ( creditor)Rs. 24,000
Purchased goods of Rs. 20,000 less 25 % Trade discount and paid
immediately availing cash discount of 2 %
Issued cheque as advance for Xerox machine
Sold goods worth Rs. 20,000 at cost plus 25% less 10 % trade
discount to Shaan
Received cheque from Shaan on account.
Paid Rent Rs. 1000, Wages Rs. 500
Withdrawn cash Rs. 5000 and goods worth Rs. 1000 for personal
5,000
April 4
April 8
12500
April 10
April 12
April 15
use.
500
April 18
April 20
Outstanding wages
Arjun is declared insolvent and compensation of 50 paise in a
rupee is received from him.
Purchased second hand machinery for Rs. 20,000 and paid
repairing expenses for the same Rs. 500
April 25​

Answer 1

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