Question

Q. 21. Tanishk Traders deal in Motor Cars. Record the following translation in their journal :
(1) Purchased 4 Motor Cars @ 1,20,000 each from Maruti Ltd. for stock.
(ii) Purchased I Motor Car for 75,000 from Maruti Ltd. for business use.
(ii) Returned one Motor Car from stock to Maruti Ltd.
(iv) Sold 3 Motor Cars for 4,50,000 (Banked 74,25,000).
(v) Purchased an accounting machine for 40,000
(vi) Bought on credit from Tata Motors, 5 Motor Cars for 18,00,000 for resale.
(vii) Received credit note from Tata Motors for One car returned to them.
(viin Paid to Tata Motors by cheque the amount owing.
(ix) Drew a cheque for self 1,00,000 and drew out of cash for self 20.000.
(4) Mr. Tanishk brought his own car into the business valuing 71,80,000 for sale
[Ans. Total 30,65,000.]​

Answer 1

Answer:

i) purchases a/c dr 480000

to maruthi Ltd a/c 480000

(purchased motor cars for stock)

ii)office equipment a/c dr 75000

to maruthi ltd a/c 75000

(purchased motor car for buisness)

iii)maruthi ltd a/c dr 120000

to purchases returns a/c 120000

(returned motot cars from stock)

iv)creditors a/c dr 25000

bank a/c dr 425000

to sales a/c 450000

(wold motor cars)

v) office equipment a/c dr 40000

to purchases a/c 40000

( accounting mahine purchased)

vi) purchases a/c dr 800000

to creditors a/c 800000

( bought motor cars on resale)

vii) creditors a/c dr 1,60,000

to purchases returns a/c 1,60,000

( returned one motor car bought on resale)

viii) tata motors a/c dr 640000

to bank a/c 640000

(full payment made to tata motors)

ix) drawings a/c dr 120000

to bank a/c 100000

to cash a/c 20000

(drew money for personnal use)

x)purchases a/c 180000

to capital a/c 180000

(bought car into buisness)

total...................................3065000