prepare a journal...
Answers
Required Journal Entries :-
Jan. 1
Cash A/c . . . Dr. 1,00,000
- To capital A/c 1,00,000
( Being started business with cash )
Jan. 2
Bank A/c . . . Dr. 60.000
- To cash A/c 60,000
( Being cash deposited into bank )
Jan. 3
Purchases A/c . . . Dr. 20,000
- To M/s. Singh and Co. 20,000
( Being goods purchased on credit )
Jan. 3
Cartage A/c . . . Dr. 300
- To cash A/c 300
( Being cash paid for cartage )
Jan. 4
Furniture A/c . . . Dr. 4,000
- To cash A/c 4,000
( Being furniture purchased by cash )
Jan. 4
Advanced for HP printers A/c . . . Dr. 5,000
- To cash A/c 5,000
( Being cash paid in advanced for printers )
Jan. 4
Calculator A/c . . . Dr. 1,000
- To cash A/c 1,000
( Being calculator purchased for cash )
Jan. 4
Computer A/c . . . Dr. 13,000
- To bank A/c 13,000
( Being computer purchased and paid through cheque )
Jan. 6
Postage A/c . . . Dr. 150
- To cash A/c 150
( Being cash paid for postage )
Jan. 8
Cash A/c . . . Dr. 4,000
- To sales A/c 4,000
( Being goods sold for cash )
Jan. 9
M/s Sharda & Co. . . . Dr. 10,000
- To sales A/c 10,000
( Being goods sold on credit )
Jan. 9
Cartage A/c . . . Dr. 200
- To cash A/c 200
( Being cash paid for cartage )
Jan. 15
Cash A/c . . . Dr. 17,500
- To M/s Singh & Co. 17,500
( Being cash paid to M/s Singh & Co. )
Jan. 25
M/s Ray & Co. . . . Dr. 5,600
- To sales A/c 5,600
( Being goods sold on credit )
Jan. 27
Bank A/c . . . Dr. 9,750
Discount Allowed A/c . . . Dr. 250
- To M/s Sharda & Co. 10,000
( Being cash received from M/s Sharda & Co. in full settlement )
Note : Whenever we receive payment in full settlement, we assume the remaining money as cash discount ).
Jan. 31
Electricity charges A/c . . . Dr. 1,000
- To cash A/c 1,000
( Being cash paid for electricity charges )
Jan. 31
Salary A/c . . . Dr. 1,500
- To cash A/c 1,500
( Being salaries paid )
Jan 31
Rent A/c . . . Dr. 2,500
Drawings A/c . . . Dr. 2,500
- To bank A/c 5,000
( Being rent paid for business use and half for personal use )
Jan. 31
Drawings A/c . . . Dr. 3,500
- To cash A/c 3,500
( Being cash withdrawn for private use )
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