Question

SINO
ILLUSTRATION 4.
Enter the following transactions in the journal of Shankar Stores :
2016
April 1 Started business with 5,00,000; paid into bank 4,00,000.
April 4 Purchased goods for 1,40,000 in all, out of which half the goods was on
credit from Mr. Sudhir.
April 7 Purchased building for 2,00,000 and paid 2% brokerage on its purchase.
Also incurred 24,000 on its registration. Payment for building was made
by cheque and brokerage and registration charges were paid in cash.
April 12 Sold goods to Arun for 2,00,000. Arun pays one-fourth amount in cash.
April 14 A cheque of 1,48,000 is received from Arun in full settlement and the
cheque is immediately deposited into bank.
April 16 Paid stationery expenses *180.
April 17 Paid fire insurance premium on building by cheque 1,000 and Gauri
Shankar's life insurance premium by cheque 4,000.​

Answer 1

Answer:

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