Prepare ‘Journal’ in the books of Kunal Stores, Solapur :
2019 June
1. Started business with cash `1,00,000, Bank ` 2,00,000, Stock of goods
`1,00,000 and creditors `40,000.
5. Deposited into Bank `20,000.
8. Purchased goods from Mohan on credit `70,000 at 18% GST.
10. Cash sales `50,000.
15. Furniture `8,000/- purchased through cheque.
18. Commission `2,000 paid to Abhay.
22. Purchased goods `20,000 at 10% Trade Discount.
25. Paid Life Insurance premium `10,000 by cheque.
28. Paid for Advertisement `9,000/-.
Answers
Answer:
june 1. cash a/c. Dr. 1,00,000
bank a/c. Dr.2,00,000
stock a/c. Dr.1,00,000
To creditors a/c. 40,000
To capital a/c. 3,60,000
(Being opening entry as per balance)
june.5. Bank a/c Dr. 20,000
To cash a/c. 20,000
(Being cash deposit in to bank)
june 10. cash a/c Dr.50,000
To sales a/c. 50,000
(Being cash sales)
june.15 furniture a/c Dr. 8000
To bank a/c 8000
( Being furniture purchased)
june.18. commission a/c Dr.2,000
To cash a/c 2,000
(Being commission paid)
june.22. purchase a/c Dr. 18,000
To cash a/c 18,000
(Being goods purchased)
june.25 Drawings a/c Dr. 10,000
To bank a/c 10,000
(Being life insurance premium paid)
june.28 Advertisement a/c Dr. 9,000
To cash a/c 9,000
(Being advertisement paid)
* Explanation*
june.25 drawings a/c because life insurance owner ya uske family members ka hoga isliye wo drawing hoga