Write journal entries in the books of Kishan
1) started business with 50000 cash
100000 bank overdraft 500000 furniture
200000 debtors
100000 creditors
2) purchased furniture of rupees 50000 from Sneha furniture mart and paid rupees 2000 transportation cost.
3) purchased goods of rupees 10000 from Dinesh and sold the same to Bhavika at 12000 Rs
4) salary paid to manager Pratham rupees 50000 by cheque
5) commission received from Richa rupees 100000 encash
6) there was a fire India godown and goods of rupees 10000 loss due to fire
7) there was an earthquake and due to earthquake that was a loss of 5000 goods
8) Life insurance premium of rupees 500 paid by cash and office insurance premium of rupees 5000 paid by cheque
9) goods of rupees 10,000 purchase from Anushree at 5% trade discount and sold this goods to Rutvi at rupees 15000 at 10% trade discount
10) Goods of rupees 15000 purchased at 10% trade discount from Vansh and sold these goods to Kanishk by adding 20% profit on cost price On credit basis
11) Goods of rupees 20000 purchased from Dev at 25% trade discount and 5% cash discount 60% amount paid to Dev by cheque.
12) goods of rupees 5000 sold to On credit basis .
13) Rishi settled this amount at 5% discount and there was a bad date of rupees 100 which we haven't received
14) we have placed an order of rupees 1,00,000 for buying a new building
15) Rishi has given back 100 rupees.
Answers
Explanation:
Write journal entries in the books of Kishan
1) started business with 50000 cash
100000 bank overdraft 500000 furniture
200000 debtors
100000 creditors
2) purchased furniture of rupees 50000 from Sneha furniture mart and paid rupees 2000 transportation cost.
3) purchased goods of rupees 10000 from Dinesh and sold the same to Bhavika at 12000 Rs
4) salary paid to manager Pratham rupees 50000 by cheque
5) commission received from Richa rupees 100000 encash
6) there was a fire India godown and goods of rupees 10000 loss due to fire
7) there was an earthquake and due to earthquake that was a loss of 5000 goods
8) Life insurance premium of rupees 500 paid by cash and office insurance premium of rupees 5000 paid by cheque
9) goods of rupees 10,000 purchase from Anushree at 5% trade discount and sold this goods to Rutvi at rupees 15000 at 10% trade discount
10) Goods of rupees 15000 purchased at 10% trade discount from Vansh and sold these goods to Kanishk by adding 20% profit on cost price On credit basis
11) Goods of rupees 20000 purchased from Dev at 25% trade discount and 5% cash discount 60% amount paid to Dev by cheque.
12) goods of rupees 5000 sold to On credit basis .
13) Rishi settled this amount at 5% discount and there was a bad date of rupees 100 which we haven't received
14) we have placed an order of rupees 1,00,000 for buying a new building
15) Rishi has given back 100 rupees.