Question

Record the following transactions in journal of Mahek enterprise

a) Introduced Rs. 50000 as cash and furniture of Rs. 10000 and commenced business.

b) Furniture of Rs. 3000 purchased from Kaveri Furniture and carriage paid in cash Rs. 50

c) Goods purchased from Ram of Rs. 8000 at 10% trade discount.

d) Paid advertisement bill of Gujarat Samachar Rs. 300

e) Withdrawn goods of Rs. 300 and cash Rs. 200 for personal use.

f) Received Rs. 100 from Raj for bad debts written off​

Answer 1

Answer:

(a)Cash account -Dr ₹50000

Furniture account - Dr. ₹10000

To Mahek Capital account. ₹ 60000

(b) Furniture account - Dr. ₹3050

To Cash account ₹3050

(c) purchase account -Dr. ₹7200

To ram account. ₹ 7200

(d) advertisement account - Dr ₹300

To cash account. ₹300

(e) Drawings account - Dr. ₹500

To cash account. ₹200

To purchase account. ₹300

(f). cash account - Dr. ₹100

To bad debt recovered. ₹100

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