Q.6 Prepare a journal and ledger accounts Cash A/C, Bank A/C, Purchases A/c, Sales A/c and Capital A/c. and balance
the same in the books of Madanlal.
2019
Aug. 1 Started business with bank balance 40,000.
2 Purchased goods from Aseem worth 15,000 less 10% Trade Discount.
3 Sold goods to Arun for 8,000 for cash.
4 Paid Rent 3,000 and Electricity bill 500.
5 Purchased 100 Shares of Perfect Technologies for rs.55 per share and paid Brokerage rs.250 by transfer through netbanking.
6 Withdrawal of goods for personal use 500.
7. Sold goods for cash 5,000 less 10% Cash Discount.
8 Deposited cash into Bank 2,000.
9 Paid 3,000 for daughter's tuition fees by Debit Card.
10 Purchased a Table for 2,000.
19 Received 1,500 by selling the scrap.
27 Paid cash into bank in excess of 2,000
SO PLEASE SOLVE FAST AND NO SPAMMING....
Answers
Explanation:
Journal entries are as follows:
1)Bank a/c Dr. 40000
To Capital a/c 40000
2)Purchase a/c Dr. 13500
To Aseem a/c 13500
3) Cash a/c Dr. 8000
To Sales a/c 8000
4) Rent a/c Dr. 3000
Electricity bill a/c Dr. 500
To Cash a/c 3500
5) Investment in Shares a/c Dr. 5500
Brokerage a/c Dr. 250
To Bank a/c 5750
6) Drawing a/c Dr. 500
To Goods a/c 500
7) Cash a/c Dr. 4500
Discount allowed a/c Dr. 500
To Sales a/c 5000
8) Bank a/c Dr. 2000
To Cash a/c 2000
9) Drawing a/c Dr. 3000
To Bank a/c 3000
10) Furniture a/c Dr. 2000
To Cash a/c 2000
19) Cash a/c Dr. 1500
To Scrap a/c 1500
27) Bank a/c Dr. 2000
To Excess cash deposited in bank a/c 2000
make ledger account from the above journal entries...
Explanation:
ledger account of the above journal entries
