Purchase goods costing RS 5000 from Naresh and paid cartage rupees 200 half of the goods used by proprietor for his personal use .journalise.? please answer fast?

Question

Answer

Purchase a/c Dr. 5000
Cartage a/c Dr. 200
To cash a/c CR. 5200

Drawing a/c Dr. 2500
To purchase a/c CR. 2500

Answer

Purchase A/C dr 5000
Cartage A/C. dr. 200
TO cash A/C. 5200

Drawing A/C. dr 2500
TO Goods/
Purchase A/C 2500

Answer

Purchase a/c dr. 5000
cartage a/c dr. 200
to cash a/c 5200
and for drawing: drawing a/c dr. 2500
to purchase a/c 2500

Answer

Purchase of Goods from Naresh:
Naresh sold goods to the proprietor, amounting to ₹5000. This transaction involves the purchase of goods from Naresh, and hence needs to be recorded in the journal.

Journal Entry:
Date: [Date of the transaction]
Account Debited: Purchase Account
Account Credited: Naresh

Explanation:
The journal entry for the purchase of goods from Naresh would be as follows:

Purchase Account Dr. ₹5000
To Naresh ₹5000

- The Purchase Account is debited with ₹5000, which represents the cost of the goods purchased. This entry is made on the debit side as per the rules of accounting.
- Naresh's account is credited with ₹5000, representing the amount owed to him. This entry is made on the credit side as per the rules of accounting.

Payment of Cartage:
The proprietor paid ₹200 as cartage charges in relation to the purchased goods. This transaction involves an expense incurred by the proprietor, and hence needs to be recorded in the journal.

Journal Entry:
Date: [Date of the transaction]
Account Debited: Cartage Account
Account Credited: Cash/Bank

Explanation:
The journal entry for the payment of cartage charges would be as follows:

Cartage Account Dr. ₹200
To Cash/Bank ₹200

- The Cartage Account is debited with ₹200, which represents the expense incurred for cartage charges. This entry is made on the debit side as per the rules of accounting.
- Cash/Bank account is credited with ₹200, representing the outflow of cash or payment made through a bank. This entry is made on the credit side as per the rules of accounting.

Proprietor's Personal Use:
Half of the goods purchased, worth ₹2500 (₹5000/2), were used by the proprietor for personal use. This transaction involves the withdrawal of goods by the proprietor for personal consumption, and hence needs to be recorded in the journal.

Journal Entry:
Date: [Date of the transaction]
Account Debited: Proprietor's Drawings
Account Credited: Purchase Account

Explanation:
The journal entry for the withdrawal of goods for personal use by the proprietor would be as follows:

Proprietor's Drawings Dr. ₹2500
To Purchase Account ₹2500

- The Proprietor's Drawings account is debited with ₹2500, representing the goods withdrawn for personal use. This entry is made on the debit side as per the rules of accounting.
- The Purchase Account is credited with ₹2500, representing the reduction in the quantity of goods available for sale. This entry is made on the credit side as per the rules of accounting.

These journal entries effectively record the purchase of goods, payment of cartage charges, and withdrawal of goods for personal use by the proprietor in the books of accounts.

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