Question

purchased goods to Srikant Tradors = 50.000
allowing, 10% Trade discount
and 5% Cash Discount Received 80%
payment immediately by Cheque
The Cheque is deposited into bank on
the same day​

Answer 1

Explanation:

2018 ₹

March 1 Manohar Lal & Sons started business with cash 60,000

2 Purchased furniture for cash 10,000

4 Purchased goods for cash 25,000

5 Bought goods from Kamlesh 15,000

10 Paid cash to Kamlesh 15,000

16 Purchased goods from Sohan 6,000

18 Purchased goods from Sohan for cash 8,000

20 Paid rent for the office 1,000

ANSWER:

Journal

In the Books of Manohar Lal

Date Particulars L.F. Debit Amount (₹) Credit Amount (₹)

2018

Mar. 01 Cash A/c Dr. 60,000

To Capital A/c

60,000

( Started business with cash)

Mar. 02 Furniture A/c Dr. 10,000

To Cash A/c

10,000

(Furniture purchased for cash)

Mar. 04 Purchases A/c Dr. 25,000

To Cash A/c

25,000

( Goods purchased for cash)

Mar. 05 Purchases A/c Dr. 15,000

To Kamlesh’s A/c

15,000

(Goods purchased from Kamlesh)

Mar. 10 Kamlesh’s A/c Dr. 15,000

To Cash A/c

15,000

(Cash paid to Kamlesh)

Mar. 16 Purchases A/c Dr. 6,000

To Sohan’s A/c

6,000

(Goods purchased from Sohan)

Mar. 18 Purchases A/c Dr. 8,000

To Cash A/c

8,000

(Goods purchased from Sohan for cash)

Mar. 20 Rent A/c Dr. 1,000

To Cash A/c

1,000

(Paid office rent)

TOTAL 1,40,000 1,40,000