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Pass the Journal entries for the following transactions of Sahil:
April 1 Sahil introduced cash as capital Gave cheque from his Savings Account 1,00,000
April 2 Purchased goods of ₹ 1,00,000 against cheque less 10% Trade Discount
April 2 Issued cheque as advance for Machinery 1,00,000
April 3 Purchased Goods of 2,00,000 less 25% Trade Discount and paid immediately availing Cash Discount of 2%
April 7 Sold goods to Rakesh against cheque 50,000
April 10 Sold goods to Raman 25,000 less 10% Trade Discount
.
April 14 Received cheque from Raman and allowed 2% Cash Discount?
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Pass the Journal entries for the following transactions of Sahil:April...



Journal Entries for Sahil's Transactions:

April 1:
- Cash A/c Dr 1,00,000
- To Capital A/c 1,00,000 (Being cash introduced as capital)

April 2:
- Purchases A/c Dr 90,000
- Trade Discount A/c Dr 10,000
- To Bank A/c 1,00,000 (Being goods purchased less trade discount)
- Machinery A/c Dr 1,00,000
- To Bank A/c 1,00,000 (Being advance payment for machinery)

April 3:
- Purchases A/c Dr 1,50,000
- Trade Discount A/c Dr 50,000
- To Bank A/c 1,00,000 (Being goods purchased less trade discount and cash discount availed)

April 7:
- Bank A/c Dr 50,000
- To Sales A/c 50,000 (Being goods sold to Rakesh)

April 10:
- Raman A/c Dr 22,500
- Trade Discount A/c Dr 2,500
- To Sales A/c 25,000 (Being goods sold to Raman less trade discount)

April 14:
- Bank A/c Dr 24,500
- Discount Received A/c Dr 500
- To Raman A/c 25,000 (Being cheque received from Raman after allowing cash discount)

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Pass the Journal entries for the following transactions of Sahil:April 1 Sahil introduced cash as capital Gave cheque from his Savings Account 1,00,000April 2 Purchased goods of ₹ 1,00,000 against cheque less 10% Trade DiscountApril 2 Issued cheque as advance for Machinery 1,00,000April 3 Purchased Goods of 2,00,000 less 25% Trade Discount and paid immediately availing Cash Discount of 2% April 7 Sold goods to Rakesh against cheque 50,000April 10 Sold goods to Raman 25,000 less 10% Trade Discount .April 14 Received cheque from Raman and allowed 2% Cash Discount?
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Pass the Journal entries for the following transactions of Sahil:April 1 Sahil introduced cash as capital Gave cheque from his Savings Account 1,00,000April 2 Purchased goods of ₹ 1,00,000 against cheque less 10% Trade DiscountApril 2 Issued cheque as advance for Machinery 1,00,000April 3 Purchased Goods of 2,00,000 less 25% Trade Discount and paid immediately availing Cash Discount of 2% April 7 Sold goods to Rakesh against cheque 50,000April 10 Sold goods to Raman 25,000 less 10% Trade Discount .April 14 Received cheque from Raman and allowed 2% Cash Discount? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Pass the Journal entries for the following transactions of Sahil:April 1 Sahil introduced cash as capital Gave cheque from his Savings Account 1,00,000April 2 Purchased goods of ₹ 1,00,000 against cheque less 10% Trade DiscountApril 2 Issued cheque as advance for Machinery 1,00,000April 3 Purchased Goods of 2,00,000 less 25% Trade Discount and paid immediately availing Cash Discount of 2% April 7 Sold goods to Rakesh against cheque 50,000April 10 Sold goods to Raman 25,000 less 10% Trade Discount .April 14 Received cheque from Raman and allowed 2% Cash Discount? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Pass the Journal entries for the following transactions of Sahil:April 1 Sahil introduced cash as capital Gave cheque from his Savings Account 1,00,000April 2 Purchased goods of ₹ 1,00,000 against cheque less 10% Trade DiscountApril 2 Issued cheque as advance for Machinery 1,00,000April 3 Purchased Goods of 2,00,000 less 25% Trade Discount and paid immediately availing Cash Discount of 2% April 7 Sold goods to Rakesh against cheque 50,000April 10 Sold goods to Raman 25,000 less 10% Trade Discount .April 14 Received cheque from Raman and allowed 2% Cash Discount?.
Solutions for Pass the Journal entries for the following transactions of Sahil:April 1 Sahil introduced cash as capital Gave cheque from his Savings Account 1,00,000April 2 Purchased goods of ₹ 1,00,000 against cheque less 10% Trade DiscountApril 2 Issued cheque as advance for Machinery 1,00,000April 3 Purchased Goods of 2,00,000 less 25% Trade Discount and paid immediately availing Cash Discount of 2% April 7 Sold goods to Rakesh against cheque 50,000April 10 Sold goods to Raman 25,000 less 10% Trade Discount .April 14 Received cheque from Raman and allowed 2% Cash Discount? in English & in Hindi are available as part of our courses for Commerce. Download more important topics, notes, lectures and mock test series for Commerce Exam by signing up for free.
Here you can find the meaning of Pass the Journal entries for the following transactions of Sahil:April 1 Sahil introduced cash as capital Gave cheque from his Savings Account 1,00,000April 2 Purchased goods of ₹ 1,00,000 against cheque less 10% Trade DiscountApril 2 Issued cheque as advance for Machinery 1,00,000April 3 Purchased Goods of 2,00,000 less 25% Trade Discount and paid immediately availing Cash Discount of 2% April 7 Sold goods to Rakesh against cheque 50,000April 10 Sold goods to Raman 25,000 less 10% Trade Discount .April 14 Received cheque from Raman and allowed 2% Cash Discount? defined & explained in the simplest way possible. Besides giving the explanation of Pass the Journal entries for the following transactions of Sahil:April 1 Sahil introduced cash as capital Gave cheque from his Savings Account 1,00,000April 2 Purchased goods of ₹ 1,00,000 against cheque less 10% Trade DiscountApril 2 Issued cheque as advance for Machinery 1,00,000April 3 Purchased Goods of 2,00,000 less 25% Trade Discount and paid immediately availing Cash Discount of 2% April 7 Sold goods to Rakesh against cheque 50,000April 10 Sold goods to Raman 25,000 less 10% Trade Discount .April 14 Received cheque from Raman and allowed 2% Cash Discount?, a detailed solution for Pass the Journal entries for the following transactions of Sahil:April 1 Sahil introduced cash as capital Gave cheque from his Savings Account 1,00,000April 2 Purchased goods of ₹ 1,00,000 against cheque less 10% Trade DiscountApril 2 Issued cheque as advance for Machinery 1,00,000April 3 Purchased Goods of 2,00,000 less 25% Trade Discount and paid immediately availing Cash Discount of 2% April 7 Sold goods to Rakesh against cheque 50,000April 10 Sold goods to Raman 25,000 less 10% Trade Discount .April 14 Received cheque from Raman and allowed 2% Cash Discount? has been provided alongside types of Pass the Journal entries for the following transactions of Sahil:April 1 Sahil introduced cash as capital Gave cheque from his Savings Account 1,00,000April 2 Purchased goods of ₹ 1,00,000 against cheque less 10% Trade DiscountApril 2 Issued cheque as advance for Machinery 1,00,000April 3 Purchased Goods of 2,00,000 less 25% Trade Discount and paid immediately availing Cash Discount of 2% April 7 Sold goods to Rakesh against cheque 50,000April 10 Sold goods to Raman 25,000 less 10% Trade Discount .April 14 Received cheque from Raman and allowed 2% Cash Discount? theory, EduRev gives you an ample number of questions to practice Pass the Journal entries for the following transactions of Sahil:April 1 Sahil introduced cash as capital Gave cheque from his Savings Account 1,00,000April 2 Purchased goods of ₹ 1,00,000 against cheque less 10% Trade DiscountApril 2 Issued cheque as advance for Machinery 1,00,000April 3 Purchased Goods of 2,00,000 less 25% Trade Discount and paid immediately availing Cash Discount of 2% April 7 Sold goods to Rakesh against cheque 50,000April 10 Sold goods to Raman 25,000 less 10% Trade Discount .April 14 Received cheque from Raman and allowed 2% Cash Discount? tests, examples and also practice Commerce tests.
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