Question

U
. Record Journal entries in the books of Mohan Stores
2016
Dec. 1 Commenced business with cash
90,000
Dec. 3
Bought goods from Krishna of list price 2 25,000 less trade
discount 20%
Dec. 6 Gopal sold goods to us for cash.
9,000
Dec. 9 Sold goods to Geeta of list price 15,000 less 10% trade
discount
Dec. 13 Geeta returned goods of list price,
3,000
Dec. 15 Ram bought goods from us.
10,000
Dec. 18 Paid salary 4,000 and stationery ? 1,000.'
Dec, 21 Paid 19,300 to Krishna in full settlement of his account.
Dec, 23 Received cash 10,500 from Geeta and allowed her discount
300
Dec. 27 Received dividend 500 and interest 400.
Dec. 29 Bought goods of list price 12,000 less 15% trade discount
and 2% cash discount for cash.
Dec, 30 Amar bought goods from us 10,000. He paid 9,800 on the
spot to avail cash discount.
Dec 31 Bought goods from Ram 12,000 and paid 40% amount
immediately
(Ans. Total 2,14,100]​

Answer 1

Cash 90000
To capital 90000
(Business stated)

Purchase a/c dr
To cash Cr
(Purchase goods)

Purchase
To cash
( purchase from gopal)

Geeta dr
Sale Cr
(Goods sold to Geeta )

Sale return a/c dr
To Geeta a/c Cr
( goods being returned from geeta)

Cash dr
SAle cr
(Sold goods to ram)

Salary dr
Stationary dr
Cash Cr
(Expenses paid )

Krishna a/c dr
Cash Cr
Discount received Cr
( Paid to Krishna and receive discount )

Cash dr
Discount allowed dr
Geeta Cr
(Cash received from geeta and discount allowed)

Cash dr
Dividend Cr
Interest Cr
(Interest and divided received )

Purchase dr
Cash Cr
Discount received a/c Cr
(Purchase goods )

Cash dr
Discount allowed dr
Sale cr
(Good are sold and discount given )

Purchases dr 12000
Cash Cr (40% of 12000)
Raam Cr (60% of 12000)