Question

Record the following transactions in Journal -
Business started by cash
₹8,000
(ii) Goods purchased in cash
700
(ili) Sold goods to Ramesh
300

(iv) Purchased goods from Aman
1,000
(v) Goods sold in cash
2,000
(vi) Paid shop rent
100​

Answer 1

Answer:

1. Cash account. Dr. 8,000

To capital account. 8,000

( being business started with capital)

2. Purchase account Dr. 700

To cash. 700

( being goods purchased for cash)

3. Ramesh account Dr. 300

To sales. 300

(being goods sold to Ramesh on credit)

4. Purchase account Dr. 1.000

To Aman. 1,000

(Being credit purchase made)

5. Cash account Dr. 2,000

To sales. 2,000

( being goods sold for cash)

6. Rent account Dr. 100

To cash. 100

( being shop rent paid)