Question

Problem: 13
Journalise the following transactions:
2012 Oct 1 Venkateshwara and company commenced business with furniture of '25,000 and cash of '75,000
3. Sales 10,000
4. Purchases 8,000
5.Sold goods to Ramakrishna 12,000
6. Bought goods from Murali 7,000
7. Sold goods to Gangadhar for cash 6,000
9. Rama Krishna returned goods. 2,000
11. Commission received 5,000
14. Lighting expenses 700
15. Remitted cash to Prasad 600​

Answer 1

Answer:

1. furniture Dr 25000

cash dr 75000

to capital 100000

3. cashbank dr 10000

to sales 10000 assuming done on cash

4. purchases Dr 8000

to cashbank 8000 assuming done on cash

5. Ramakrishna dr 12000

to sales 10000 assuming done on credit

6. purchases Dr 7000

to murali 7000 assuming done on credit

7. cash dr 6000

to sales 6000

9. sales return Dr 2000

to Ramakrishna 2000

11. cashbank dr 5000

to comission received 5000

13. lighting exp Dr 700

to cash bank 700

15. Prasad dr 600

to cash 600

Answer 2

He said " I am aSanskrit techer(Narretion)