Question

write the journal entries of
1.commenced business with cash 1,75,000 building 1,00,000
2.goods purchase for cash 75,000
3.sold goods to ramesh 30,000
4.paid wages 500
5.sold goods for cash 10,000
6.paid for trade expenses 700
7.cash received from ramesh 29,500 discount allowed 500
8.goods purchase for sudhir 27,000
9.cartage paid 1,000
10.drew cash for personal use 5,000
11.goods use for house hold 2,000
12.cash paid to sudhir 26,700 discount allowed 300
​

Answer 1

Answer:

cash a/c ...dr 175000

building a/c..dr 100000

To capital a/c 275000

Explanation:

being business started with cash and building

Answer 2

goods purchade for cash 75000