Question

Q3]. Journalise the following transactions in the books
of Javed, March 2020
1) javed started business with cash Rs. 200,000,
Building Rs 2,00,000 of borrowed loan from
Rakesh Rs 50,000
2) Deposited cash into Dena Bank Rs.50,000
3) Purchased furniture of Rs 70,000 and amount paid
by cheque @ 12%. Gst​

Answer 1

JOURNAL ENTRY:-

1. Cash a/c. Dr. 2,00,000

Building a/c. Dr. 2,00,000

Rakesh a/c. Dr. 50,000

To Capital a/c. 4,50,000

(being introduced capital)

2. Dena's a/c. Dr. 50,000

To Cash a/c. 50,000

(being cash deposited into Dena's bank)

3. Furniture a/c. Dr. 70,000

Input GST a/c. Dr. 8,400

To Bank a/c 78,400

(being furniture purchased)

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