Simple Journal Entries 1. Pass necessary Journal entries for the following transactions: 2020 April April April April April April April 10 Cash paid to Ajay. 12 Commission received. 1 Business started with cash 2 Goods purchased for cash 3 Goods purchased from Pankaj on credit 5 Goods sold to Naresh on credit 7 Goods returned to Pankaj 9 Goods returned by Naresh April April 15 Furniture purchased April 16 Rent paid to Amit April 19 Sold goods to Sumit for cash April 24 Cash sales April 30 Cash received from Naresh on account April 30 Salaries paid.
Answers
Answer:
April 10. Ajay. Dr.
To Cash A/C
April 12. Commision A/C. Dr.
To Commision Rec. A/C
1. Cash A/C. Dr.
To Capital A/C
2. Purchases A/C. Dr.
To Cash A/C
3. Purchases A/C. Dr.
To Pankaj.
5. Naresh. Dr.
To Sales A/C
7. Pankaj. Dr.
To Purchases Return A/C
9. Sales Return A/C. Dr.
To Naresh
April 15. Furniture A/C. Dr.
To Cash A/C
April 16. Amit. Dr.
To rent A/C
Answer
Explanation:
1. Cash a/c Dr.
To Capital a/c
2. Purchases a/c Dr.
To cash a/c
3. Purchases a/c Dr.
To Pankaj a/c
5. Sales a/c Dr.
To Naresh a/c cr.
7. Purchase return a/c Dr.
To Pankaj a/c
9. Sales return a/c Dr.
To Naresh a/c
10. Ajay a/c Dr.
To Cash a/c
12. Cash a/c Dr.
To commission a/c
15. Furniture a/c Dr.
To cash a/c
16. Rent a/c Dr.
To cash a/c
19. Sales a/c Dr.
To Cash a/c
24. Cash a/c Dr.
To sales a/c
30. Cash a/c Dr.
To Naresh a/c
30. Salaries a/c Dr.
To Cash a/c