Q.1. Journalise the following transactions in the books of Dongre Traders:
2018
Dec 1 Placed an order with Bholenath worth * 10,000.
Dec 3 Goods sold to Ashish for cash 20,000 5 Goods returned by Sapana worth * 1,000.
Dec 6 Salary paid to Nagesh 12,000. 9 Stationery bill paid 500.
Dec 11 Electricity bill paid * 750. 13 Rent paid to Landlord Mr. Hari 10,000.
Dec 17 Sunil's (son of Mr. Dongre) school fees paid 15,000.
Dec 23 Commission paid to Ranjana 500.
Dec 27 Bholenath executed the order placed on 1st Dec 2018 at 10% Trade Discount.
dec 29 Cash received from Sapana 2,000.
dec 30 Advertisement made in newspaper amounted to 5,000. 30 Bholenath's account settled. He allowed 5% cash discount.
Answers
Answer:
Explanation:
DEC 1 No entry will be journalised for placing as order.
Dec 3 > Cash A/c Dr 20,000
To sales A/c 20,000.00
(being cash sales to Sh Ashish)
> Sales return A/c Dr 1000.00
To Sapna's A/c
(being goods returned by Sapna)
Dec 6 > Salaries A/c Dr 12,000.00
Stationery A/c Dr 500.00
To cash 12500.00
(being salary paid to Nagesh and Stationery locally purchased)
Dec 11 > Electricity A/c Dr 750.00
Rent A/c Dr 10,000.00
To Cash A/c 10,750.00
(being electricity bill & rent paid)
Dec 17 > Drawings A/c Dr 15,000.00
To Cash 15,000.00
(Being Sunil's school paid from business cash)
Dec 23 > Commission A/c Dr 500.00
. To Cash A/c 500.00
(Being commission paid to Ranjana)
Dec 27 > Purchase A/c Dr 9,000.00
To Bholenath A/c 9,000.00
( Being order placed for Rs 10,000.00 on 01.12. executed by Bholenath allowing trade discount @ 10 %)
Dec 29 > Cash A/c Dr 2000.00
To Sapna's A/c 2000.00
(Being cah received from Sapna)
Dec 30 > Advertisement A/c Dr 5000.00
To Cash/Bank 5000.00
(Being advertisement expenses paid )
> Bholenath's A/c Dr 9000.00
To Cash A/c 8,550.00
To Discount A/c 450.00
(Bholenath account settled as he allowed 5 % discount)
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Note: Presumed that every transaction has been made in cash.
Explanation:
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