Record the following transactions in journal of Shri Omkar Traders:
2014
October
1 A business is commenced with introduction of cash of
Rs.40,000, Furniture of Rs.10,000, stock of Rs.8000
and 8 % loan of Pragna Rs.20,000.
3 Opened bank account with Bank of Broda, by depositing
Rs.25,000 in cash.
5 Machine of Rs.5000 is purchased from Navkar Traders
and paid machine installation charges Rs.500.
8 Goods of Rs.10,000 are purchased from Shivam Traders
at 10% trade discount, Rs.50 paid for carriage.
10 House rent paid Rs.7000 and life insurance of Rs.1200
paid by cheque.
21 Goods of Rs.6000 purchased from Amar Traders at 10%
trade discount and 5% cash discount. Half the amount is
paid in cash
Answers
Answer:
TOTAL 1,40,000 1,40,000
Explanation:
Date Particulars L.F. Debit Amount (₹) Credit Amount (₹)
2018
Mar. 01 Cash A/c Dr. 60,000
To Capital A/c
60,000
( Started business with cash)
Mar. 02 Furniture A/c Dr. 10,000
To Cash A/c
10,000
(Furniture purchased for cash)
Mar. 04 Purchases A/c Dr. 25,000
To Cash A/c
25,000
( Goods purchased for cash)
Mar. 05 Purchases A/c Dr. 15,000
To Kamlesh’s A/c
15,000
(Goods purchased from Kamlesh)
Mar. 10 Kamlesh’s A/c Dr. 15,000
To Cash A/c
15,000
(Cash paid to Kamlesh)
Mar. 16 Purchases A/c Dr. 6,000
To Sohan’s A/c
6,000
(Goods purchased from Sohan)
Mar. 18 Purchases A/c Dr. 8,000
To Cash A/c
8,000
(Goods purchased from Sohan for cash)
Mar. 20 Rent A/c Dr. 1,000
To Cash A/c
1,000
(Paid office rent)
TOTAL 1,40,000 1,40,000
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