Question

UNUWing transactions in the Journal of X
2017
Jan. 1
Commenced business: Goods Rs 2,000; Cash Rs 3,000
Jan. 5
Purchased goods of Rs 2,000 from Ajay on 10% Trade Discount and 5% Cash Discount
and paid by cheque.
Jan. 10 Sold goods of Rs 1,600 to Ram at 5% Trade Discount in whose full payment cheque is
received after deducting Rs 20 for cash discount. The cheque received is deposited in to
the bank.
Jan. 20 Withdrew for personal use: Goods Rs 100, Cash Rs 200, from Bank Rs 200.​

Answer 1

Answer:

JAN 1 Stock A/c -dr. 2000

Cash A/c -dr. 3000

To Capital A/c 5000

Jan 5 Purchase A/c -dr. 2000

To Discount rec. 90

To Bank A/c 1710

Jan10 Bank A/c -dr. 1520

Discount Allow -dr. 20

To Sales A/c 1540

Jan 20 Drawings A/c - dr. 500

To Stock A/c 100

To Cash A/c 200

To Bank A/c 200