Question

pass journal entries with narration (without format)....(a)me.sharma commenced business with cash 5 lakh .(b)goods purchase on credit from Mr.ram20000.(c) cash paid to mr.ram rupees 19000 in full settlement of his account (d)machinery purchase and payment made by cheque 50000(e)salaries paid 2000(f)goods lost by fire 5000​

Answer 1

Answer:

cash a/c 500000

to capital a/c 500000

b. purchases a/c 20000

to mr.ram 20000

c.mr.ram a/c 20000

to discount received a/c 1000

to cash a/c 19000

d. machinery a/c 5000

to bank a/c 50000

e. salaries a/c 2000

to cash a/c 2000

f. goods lost by fire a/c 5000

to purchases a/c. 5000