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). 9 Feb(1).Ramesh shrivastava started bussiness with cash RS 500000 goods RS 100000and machine is 200000 Feb(2) purchase goods on credit from Sharad RS 30000 rajat RS 40000and bhagat RS 60000 Feb (5) sold goods on credit to jeorge RS 10000 Avinash RS 15000 and kaleem RS 35000 Feb (18) paid expenses salary range 700 stationary RS 800 cartage rs 900 and interest rate 1000 Feb(28) purchased from ram and sohan each goods RS 10000 in cash and RS 20000 on credit [Ans. Total of journal RS 10,53,400]?
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). 9 Feb(1).Ramesh shrivastava started bussiness with cash RS 500000 g...
**Journal Entries for the Transactions:**
1. **Starting the Business:**
- Debit: Cash (Rs 5,00,000)
- Debit: Goods (Rs 1,00,000)
- Debit: Machinery (Rs 2,00,000)
- Credit: Capital (Rs 8,00,000)
Explanation: Ramesh Shrivastava invested cash of Rs 5,00,000, goods worth Rs 1,00,000, and machinery worth Rs 2,00,000 to start the business. As a result, his capital in the business increased by Rs 8,00,000.
2. **Purchase of Goods on Credit:**
- Debit: Goods (Rs 30,000 + Rs 40,000 + Rs 60,000)
- Credit: Sharad (Rs 30,000)
- Credit: Rajat (Rs 40,000)
- Credit: Bhagat (Rs 60,000)
Explanation: Ramesh Shrivastava purchased goods worth Rs 30,000 from Sharad on credit, goods worth Rs 40,000 from Rajat on credit, and goods worth Rs 60,000 from Bhagat on credit. As a result, the goods increased in the business, and the respective creditors' accounts were created.
3. **Sale of Goods on Credit:**
- Debit: Accounts Receivable - Jeorge (Rs 10,000)
- Debit: Accounts Receivable - Avinash (Rs 15,000)
- Debit: Accounts Receivable - Kaleem (Rs 35,000)
- Credit: Sales (Rs 60,000)
Explanation: Ramesh Shrivastava sold goods worth Rs 10,000 to Jeorge on credit, goods worth Rs 15,000 to Avinash on credit, and goods worth Rs 35,000 to Kaleem on credit. As a result, the sales increased in the business, and the respective accounts receivable were created.
4. **Payment of Expenses:**
- Debit: Salary Expense (Rs 700)
- Debit: Stationary Expense (Rs 800)
- Debit: Cartage Expense (Rs 900)
- Debit: Interest Expense (Rs 1,000)
- Credit: Cash (Rs 3,400)
Explanation: Ramesh Shrivastava paid expenses which included salary (Rs 700), stationary (Rs 800), cartage (Rs 900), and interest (Rs 1,000) in cash. As a result, the respective expenses decreased, and cash decreased.
5. **Purchase of Goods from Ram and Sohan:**
- Debit: Goods (Rs 10,000 + Rs 10,000)
- Credit: Cash (Rs 10,000)
- Credit: Accounts Payable - Sohan (Rs 20,000)
Explanation: Ramesh Shrivastava purchased goods worth Rs 10,000 from Ram in cash and goods worth Rs 10,000 from Sohan on credit. As a result, the goods increased in the business, and the respective accounts payable were created.
**Total of Journal:**
To calculate the total of the journal, we need to add up all the debit amounts in the journal entries.
Total of Journal = (5,00,000 + 1,00
1. **Starting the Business:**
- Debit: Cash (Rs 5,00,000)
- Debit: Goods (Rs 1,00,000)
- Debit: Machinery (Rs 2,00,000)
- Credit: Capital (Rs 8,00,000)
Explanation: Ramesh Shrivastava invested cash of Rs 5,00,000, goods worth Rs 1,00,000, and machinery worth Rs 2,00,000 to start the business. As a result, his capital in the business increased by Rs 8,00,000.
2. **Purchase of Goods on Credit:**
- Debit: Goods (Rs 30,000 + Rs 40,000 + Rs 60,000)
- Credit: Sharad (Rs 30,000)
- Credit: Rajat (Rs 40,000)
- Credit: Bhagat (Rs 60,000)
Explanation: Ramesh Shrivastava purchased goods worth Rs 30,000 from Sharad on credit, goods worth Rs 40,000 from Rajat on credit, and goods worth Rs 60,000 from Bhagat on credit. As a result, the goods increased in the business, and the respective creditors' accounts were created.
3. **Sale of Goods on Credit:**
- Debit: Accounts Receivable - Jeorge (Rs 10,000)
- Debit: Accounts Receivable - Avinash (Rs 15,000)
- Debit: Accounts Receivable - Kaleem (Rs 35,000)
- Credit: Sales (Rs 60,000)
Explanation: Ramesh Shrivastava sold goods worth Rs 10,000 to Jeorge on credit, goods worth Rs 15,000 to Avinash on credit, and goods worth Rs 35,000 to Kaleem on credit. As a result, the sales increased in the business, and the respective accounts receivable were created.
4. **Payment of Expenses:**
- Debit: Salary Expense (Rs 700)
- Debit: Stationary Expense (Rs 800)
- Debit: Cartage Expense (Rs 900)
- Debit: Interest Expense (Rs 1,000)
- Credit: Cash (Rs 3,400)
Explanation: Ramesh Shrivastava paid expenses which included salary (Rs 700), stationary (Rs 800), cartage (Rs 900), and interest (Rs 1,000) in cash. As a result, the respective expenses decreased, and cash decreased.
5. **Purchase of Goods from Ram and Sohan:**
- Debit: Goods (Rs 10,000 + Rs 10,000)
- Credit: Cash (Rs 10,000)
- Credit: Accounts Payable - Sohan (Rs 20,000)
Explanation: Ramesh Shrivastava purchased goods worth Rs 10,000 from Ram in cash and goods worth Rs 10,000 from Sohan on credit. As a result, the goods increased in the business, and the respective accounts payable were created.
**Total of Journal:**
To calculate the total of the journal, we need to add up all the debit amounts in the journal entries.
Total of Journal = (5,00,000 + 1,00
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). 9 Feb(1).Ramesh shrivastava started bussiness with cash RS 500000 goods RS 100000and machine is 200000 Feb(2) purchase goods on credit from Sharad RS 30000 rajat RS 40000and bhagat RS 60000 Feb (5) sold goods on credit to jeorge RS 10000 Avinash RS 15000 and kaleem RS 35000 Feb (18) paid expenses salary range 700 stationary RS 800 cartage rs 900 and interest rate 1000 Feb(28) purchased from ram and sohan each goods RS 10000 in cash and RS 20000 on credit [Ans. Total of journal RS 10,53,400]?
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). 9 Feb(1).Ramesh shrivastava started bussiness with cash RS 500000 goods RS 100000and machine is 200000 Feb(2) purchase goods on credit from Sharad RS 30000 rajat RS 40000and bhagat RS 60000 Feb (5) sold goods on credit to jeorge RS 10000 Avinash RS 15000 and kaleem RS 35000 Feb (18) paid expenses salary range 700 stationary RS 800 cartage rs 900 and interest rate 1000 Feb(28) purchased from ram and sohan each goods RS 10000 in cash and RS 20000 on credit [Ans. Total of journal RS 10,53,400]? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about ). 9 Feb(1).Ramesh shrivastava started bussiness with cash RS 500000 goods RS 100000and machine is 200000 Feb(2) purchase goods on credit from Sharad RS 30000 rajat RS 40000and bhagat RS 60000 Feb (5) sold goods on credit to jeorge RS 10000 Avinash RS 15000 and kaleem RS 35000 Feb (18) paid expenses salary range 700 stationary RS 800 cartage rs 900 and interest rate 1000 Feb(28) purchased from ram and sohan each goods RS 10000 in cash and RS 20000 on credit [Ans. Total of journal RS 10,53,400]? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for ). 9 Feb(1).Ramesh shrivastava started bussiness with cash RS 500000 goods RS 100000and machine is 200000 Feb(2) purchase goods on credit from Sharad RS 30000 rajat RS 40000and bhagat RS 60000 Feb (5) sold goods on credit to jeorge RS 10000 Avinash RS 15000 and kaleem RS 35000 Feb (18) paid expenses salary range 700 stationary RS 800 cartage rs 900 and interest rate 1000 Feb(28) purchased from ram and sohan each goods RS 10000 in cash and RS 20000 on credit [Ans. Total of journal RS 10,53,400]?.
). 9 Feb(1).Ramesh shrivastava started bussiness with cash RS 500000 goods RS 100000and machine is 200000 Feb(2) purchase goods on credit from Sharad RS 30000 rajat RS 40000and bhagat RS 60000 Feb (5) sold goods on credit to jeorge RS 10000 Avinash RS 15000 and kaleem RS 35000 Feb (18) paid expenses salary range 700 stationary RS 800 cartage rs 900 and interest rate 1000 Feb(28) purchased from ram and sohan each goods RS 10000 in cash and RS 20000 on credit [Ans. Total of journal RS 10,53,400]? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about ). 9 Feb(1).Ramesh shrivastava started bussiness with cash RS 500000 goods RS 100000and machine is 200000 Feb(2) purchase goods on credit from Sharad RS 30000 rajat RS 40000and bhagat RS 60000 Feb (5) sold goods on credit to jeorge RS 10000 Avinash RS 15000 and kaleem RS 35000 Feb (18) paid expenses salary range 700 stationary RS 800 cartage rs 900 and interest rate 1000 Feb(28) purchased from ram and sohan each goods RS 10000 in cash and RS 20000 on credit [Ans. Total of journal RS 10,53,400]? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for ). 9 Feb(1).Ramesh shrivastava started bussiness with cash RS 500000 goods RS 100000and machine is 200000 Feb(2) purchase goods on credit from Sharad RS 30000 rajat RS 40000and bhagat RS 60000 Feb (5) sold goods on credit to jeorge RS 10000 Avinash RS 15000 and kaleem RS 35000 Feb (18) paid expenses salary range 700 stationary RS 800 cartage rs 900 and interest rate 1000 Feb(28) purchased from ram and sohan each goods RS 10000 in cash and RS 20000 on credit [Ans. Total of journal RS 10,53,400]?.
Solutions for ). 9 Feb(1).Ramesh shrivastava started bussiness with cash RS 500000 goods RS 100000and machine is 200000 Feb(2) purchase goods on credit from Sharad RS 30000 rajat RS 40000and bhagat RS 60000 Feb (5) sold goods on credit to jeorge RS 10000 Avinash RS 15000 and kaleem RS 35000 Feb (18) paid expenses salary range 700 stationary RS 800 cartage rs 900 and interest rate 1000 Feb(28) purchased from ram and sohan each goods RS 10000 in cash and RS 20000 on credit [Ans. Total of journal RS 10,53,400]? in English & in Hindi are available as part of our courses for Commerce.
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