siya ram ans sons commenced business with cash
2,00,000
Purchased office furniture for cash
20,000
Purchased goods for cash
50,000
Purchased goods
from Vishal Trading Co. 25,000
from Mohan Garments 16,000
Returned goods to Vishal Trading Co.
5000
Paid cash to Vishal Trading Co. in full settlement of their account, after deducting 5% cash discount
sold goods for cash
40,000
Sold goods to Hero Limited, less 10% Trade Discount
30,000
Siya Ram withdrew from business for his personal use
Cash- 10,000
goods- 14,000
Answers
Answer:
Pass Journal Entries for the following transactions and post them into Ledger
3018
Siya Ram & Sons commenced business with cash
April
3
Purchased office furniture for cash
5 Purchased goods for cash
20,000
50,000
from Vishal Trading Co.
25,000
16,000
5,000
8 Purchased goods for cash
from Mohan Garments
10 Returned goods to Vishal Trading Co.
14 Paid cash to Vishal Trading Co. in full settlement of their account,
after deducting 5% cash discount
40,000
30,000
10,000
4,000
7,800
15 Sold goods for cash
18 Sold goods to Hero Limited, less 10% Trade Discount
20 Siya Ram withdrew from business for his personal use-
Cash
Goods
21 Paid to Mohan Garments
200
8,850
Discount received
22 Received from Hero Limited
150
12,000
Discount allowed
25 Sold goods to Hansraj Ltd. for cash
28 Purchased goods from Pawan Brothers
30 Paid for Rent 2,000 and Salaries ₹4,000.
24,000