Question

Plzzzz guys solve only 8 and 9 transaction...
Very urgent

Answer 1

1// Cash a/c dr 80, 000
To capital a/c 80,000
( Being business started with use of cash )

2//(a) On cash basis

purchase a/c dr, 20,000
To cash account 20,000
( being cash paid on goods purchase)

(b), on the credit basis

purchase a /c dr 25,000
To Amit 25,000
( being goods purchase on credit )

3// wages a/c dr 3,000
Rent a/c dr 1,000
To cash @/c 4,000
( being cash paid on wages and rent )
.

4//wages outstanding a/c dr 1,000
To wages a/c 1,000
( being wages outstanding)

5//Cash a/c dr 16,000
To sales a/c 16,000
(, being goods sold on cash )

6// Creditors a/c dr 1,000
To Purchase return a/c 1,000
,( being gooda return to creditors )


7// Purchase account dr, 5,000
To cash a/c 3,000
To Amit 2,000
( being goods purchase on cash and credit )

8//Cash a/c dr 8,000
To interest on capital a/c 8,000
( being interest charge on capital )
.
9// Bank a/c dr 5,000
To cash a/c 5,000
,( being cash deposit into bank)