1 June,2018 started business with cash 500003 june,2018 purchesed furniture and paid by cheque 200006 June,2018 purchased good worth 5000 less 20 persent trade discount8 June ,2018 Bought 100 shorts in Bharat limited@15 pershsre brokerage paid 3015 June,2018 cash paid to Anand 5292 and discount allowed by wing20 June,2018 paid for salary 3500 and rate 150025 June ,2018 goods 2000 were used by property there for personal use30 June,2018 cash deposit into back 5000 Related: Journal entries

Question

1 June,2018 started business with cash 500003 june,2018 purchesed furniture and paid by cheque 200006 June,2018 purchased good worth 5000 less 20 persent trade discount8 June ,2018 Bought 100 shorts in Bharat limited@15 pershsre brokerage paid 3015 June,2018 cash paid to Anand 5292 and discount allowed by wing20 June,2018 paid for salary 3500 and rate 150025 June ,2018 goods 2000 were used by property there for personal use30 June,2018 cash deposit into back 5000 Related:  Journal entries

Answer

Please rewrite these in points then I'll try to help you out

Answer

Journal Entries

Cash A/c Dr 50000
To Capital A/c 50000
Furniture A/c Dr 20000
To Bank A/c 20000
Purchases A/c Dr 4000
To Trade Discount A/c 1000
To Bank A/c 3000
Shares A/c Dr 1500
To Bank A/c 1500
To Brokerage A/c 30
Anand A/c Dr 5292
To Cash A/c 5292
To Discount Allowed A/c 58
Salary A/c Dr 3500
To Bank A/c 3500
Drawings A/c Dr 2000
To Purchases A/c 2000
Bank A/c Dr 5000
To Cash A/c 5000

Answer

Please give me a answer

Similar Class 12 Doubts

X Ltd purchase from open market it's own 5000,8% debentures of Rs 100 each Rs 103 for cancellation. Brokerage paid 0.4%. Pass journal entries.?

Top Courses for Class 12

Suggested Free Tests

Related Content

Schools

Competitive Examinations

Quick Access Links

Technical Exams