Q. 1. Enter the following transactions in the Journal of Manohar Lal & Sons
2017
March 1 Manohar Lal & sons started business with cash
2 Purchased fumiture for cash
4 Parchased goods for cash
5 Bought goods from Kamlesh
6 Sold goods for cash
8 Soid goods to Hari
20 Paid cash to Kamlesh
14 Received cash from Hari
16 Purchased goods from Sohan
18 Purchased goods from Sohan for cush
20 Paid rent for the office
26 Received Commission
27 Paid Salary to Gopal
28 Received cash from Han
29 Withdrew cash from office for personal use
30 Wages paid
30 Bought Machinery for Cash
fans. Total 2.57.150.]
750
1.200
12,000
4,000
7,200
8.000
Answers
Journal Entries
Explanation:
March 1: Cash A/c Dr. 60000
To Capital A/c 60000
(being business started with cash)
March 2: Furniture A/c Dr. 10000
To cash A/c 10000
(being furniture purchased for cash)
March 4: Purchase a/c Dr. 25000
To Cash 250000
(being goods purchased for cash)
March 5: Purchase a/c Dr. 15000
To Kamlesh A/c 15000
(being goods purchased from Kamlesh)
March 10: Kamlesh A/c 15000
To Cash A/c 15000
(being cash paid to Kamlesh)
March 16: Purchase A/c 6000
To Sohan A/c 6000
(being goods purchased from Sohan)
March 18: Purchase A/c 8000
To Cash a/c 8000
(being goods purchased from Sohan in cash)
March 20: Rent A/c 1000
To Cash A/c 1000
(being office rent paid)
Total 1.40.000