Suresh commenced business on Ist April, 2021 with a capital of 1,20,000 of which 60,000 was paid into his Bank Account and balance retained as cash. His other business transactions during the month were as follows:
Answers
Suresh commenced business on Ist April, 2021 with a capital of 1,20,000 of which 60,000 was paid into his Bank Account and balance retained as cash:
Answer:
Journal Entries are recorded in the books of Mr. Suresh as on 30-04-2021
Explanation:
01-04-2021 Cash A/c-------------------------Dr 60000
Bank A/c--------------------------Dr 60000
To Capital A/c 120000
(Being Capital Employed)
02-04-2021 Furniture A/c----------------------Dr 20000
To Cash A/c 20000
(Being Purchases furniture)
05-04-2021 Purchases A/c----------------------Dr. 16000
To Cash A/c 16000
( Being purchased goods )
08-04-2021 Purchases A/c----------------------Dr. 11000
To Ramesh A/c 11000
(Being purchased goods)
12-04-2021 Sameer A/c----------------------Dr. 10000
To Sales A/c 10000
(Being Sold goods to sameer)
13-04-2021 Stationary A/c-----------------Dr 1800
To cash A/c 1800
(Being Stationary purchased)
13-04-2021 Ramesh A/c--------------------Dr 11000
To cash 1000
To Discount received A/c 10000
(Being paid to Ramesh after discount)
17-04-2021 Cash A/c-------------------------Dr 4000
To Bank A/c 4000
(Being cash withdrawn from bank)
18-04-2021 Sen A/c----------------------Dr 30000
To sales A/c 30000
(Being sold to sen)
19-04-2021 Cash A/c----------------------Dr. 20000
Discount allowed Ac----------Dr. 1000
To Sameer A/c 210000
(Being sold goods and discount allowed)
20-04-2021 Raj Bhanwari Ac----------Dr. 40000
To Sameer A/c 40000
(Being sold goods to Raj )
28-04-2021 Cash A/c----------------------Dr. 1400
To Sales A/c 1400
(Being Cash sales )
30-04-2021 Salary A/c-------------------Dr 8000
To Bank A/c 8000
(Being salary paid through cheque)
30-04-2021 Rent A/c-------------------Dr 5000
To Bank A/c 5000
(Being Rent paid through cheque)
30-04-2021 Cash A/c-------------------Dr 4000
To Bank A/c 4000
(Being Withdrawn cash)
