Question

Salary
19. Journalise the following transactions of Rakesh Agencies, Delhi (Proprietor Shri Rakest
2020
Jan. 1 Rakesh commenced business with cash....
Jan. 2 Purchased goods for cash...............
Jan.
80
5 Purchased goods from Mohan, Delhi....
Jan. 7 Opened bank account with Bank of India
Jan. 10 Purchased furniture for office ....
Jan. 15 Sold goods for cash.........
Jan. 20 Sold goods to Ram of the list price of 3 1,25,000 less 20% Trade discount and 2% cash discount
and paid 40% by cheque
Jan 25 Cash sales.......
Jan. 27 Paid to Mohan on account.
Jan. 28 Ram retums goods of sale value
Jan 31 Paid Salanes
Jan. 31 Paid to the Petty Cashier
Jan. 31 Rejected and returned 5% of goods supplied by Mohan
(Hint: Journal entries on 20th January, 2020,
(1) Dr. Ram and Cr. Sales A/c by * 1,00,000.
(ii) Dr. Bank A/c by 39,200* and Discount Allowed A/c by 800;​

Answer 1

Answer:

Salary

19. Journalise the following transactions of Rakesh Agencies, Delhi (Proprietor Shri Rakest

2020

Answer 2

JOURNAL ENTRIES IN THE BOOKS OF  RAKESH  AGENCIES

Explanation:

REFER TO THE ATTACHMENTS FOR JOURNAL ENTRIES.