Question

Problem 1 (10 marks)
Journalise the following transactions in the books of Mr.Kumar, post them in the Ledger and
prepare trial balance.
2018 March1 Bought goods for cash Rs. 25,000
March 2 Sold goods for cash Rs. 50,000
March 3 Bought goods for credit from Gopal Rs.19,000
March 5 Sold goods on credit to Milton Rs.8,000
March 7 Received from Milton Rs. 6,000
March 9 Paid to Gopal Rs.5,000
March 20 Bought furniture for cash Rs. 7,000

Answer 1

2018

1 March Purchase a/c dr. 50,000

To cash a/c 50,000

3 March Purchase a/c dr. 19,000

To Gopal a/c 19,000

5 March Milton a/c dr. 6,000

To Sales a/c 6,000

7 March Cash a/c dr. 6,000

To Milton a/c 6,000

9 March Gopal a/c dr. 5,000

To Cash a/c 5,000

20 March Furniture a/c dr. 7,000

To Cash a/c 7,000