Question

write the journal entries
1. hema started business with cash 1,00,000
2. open a bank account with SBI 30,000
3.purchased goods from ashu 20,000
4.sold goods to rahul for cash 15,000
5.bought goods from tara for cash 40,000
6.sold goods to suman 20,000
7. received cheque from suman 19,500 discount allowed 500
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Answer 1

Answer:

1,cash a/c Dr 100000

to hema capital a/c100000

(being cash brought by hema to start business)

2,bank a/c Dr30000

to cash a/c30000

(being cash deposited to open a/c in sbi)

3,purchase a/c Dr20000

to ashu a/c 20000

(goods purchased on credit)

4,cash a/c Dr 15000

to sales a/c 15000

(sold goods on cash to rahul)

5,purchase a/c Dr40000

to cash a/c 40000

(being purchase goods on cash)

6,suman a/c Dr 20000

to sales a/c 20000

(being sales made on credit)

7,bank a/c Dr 19500

discount a/c dr500

to suman a/c 20000

(being cheque received and discount provided)