trial balance table on a stationary shop put your own transaction and journalism
Answers
Answer:
Accountants use special forms called journals to keep track of their business transactions. A journal is the first place information is entered into the accounting system. A journal is often referred to as the book of original entry because it is the place the information originally enters into the system. A journal keeps a historical account of all recordable transactions with which the company has engaged. In other words, a journal is similar to a diary for a business. When you enter information into a journal, we say you are journalizing the entry. Journaling the entry is the second step in the accounting cycle. Here is a picture of a journal.
Explanation:
Date Particulars L.F. Debit Amount (Rs) Credit Amount (Rs)
2017
Mar. 01 Cash A/c Dr. 80,000
To Capital A/c 80,000
(Business started with cash)
Mar. 02 Purchases A/c Dr. 36,000
To Cash A/c 36,000
(Goods purchased for cash)
Mar. 03 Machinery A/c Dr. 4,000
To Cash A/c 4,000
(Machinery purchased for cash)
Mar. 04 Purchases A/c Dr. 52,000
To Raghu’s A/c 22,000
To Dilip’s A/c 30,000
(Goods purchased on credit from Raghu and Dilip)
Mar. 06 Raghu’s A/c Dr. 4,000
To Purchases Return A/c 4,000
(Goods returned to Raghu)
Mar. 08 Raghu’s A/c Dr. 18,000
To Cash A/c 17,500
To Discount Received A/c 500
(Cash paid to Raghu in full settlement)
Mar. 10 Mahesh Chand & Co. Dr. 30,400
To Sales A/c 30,400
(Goods sold to Mahesh Chand & Co. at trade discount)
Mar. 13 Cash A/c Dr. 19,800
Discount Allowed A/c 200
To Mahesh Chand & Co. 20,000
(Cash received from Mahesh Chand & Co.)
Mar. 15 Dilip’s A/c Dr. 15,000
To Cash A/c 14,850
To Discount Received A/c 150
(Cash paid to Dilip)
Mar. 20 Cash A/c Dr. 25,000
To Sales A/c 25,000
(Goods sold for cash)
Mar. 24 Cash A/c Dr. 18,000
To Sales A/c 18,000
(Goods sold for cash)
Mar. 25 Rent A/c Dr. 1,500
To Cash A/c 1,500
(Rent paid)
Mar. 26 Cash A/c Dr. 2,000
To Commission A/c 2,000
(Commission received)
Mar. 28 Drawings A/c Dr. 6,200
To Cash A/c 6,200
(Cash withdrawn and fan purchased for personal use)
TOTAL 3,12,100 3,12,100