Journal Entry Problem No - 9
9. Journalese the following in the books of Manikanta 2009.
Date
|
Transactions
|
Amount
(in Rupees) |
Jan 1
|
Commenced business with cash
|
80000
|
Jan 2
|
Bought goods for cash
|
7000
|
Jan 3
|
Sold goods for cash
|
5000
|
Jan 4
|
Purchased goods on credit from Mahesh
|
6000
|
Jan 5
|
Sold goods to Varun
|
2500
|
Jan 6
|
Goods returned to Mahesh
|
1500
|
Jan 6
|
Sold goods to Anita for cash
|
2300
|
Jan 8
|
Madan returned goods
|
800
|
Jan 9
|
Purchased office premises
|
20000
|
Jan 10
|
Sold old type writer
|
1500
|
Jan 11
|
Paid rent
|
3000
|
Jan 12
|
Received Commisssion from Kiran
|
200
|
Jan 13
|
Received a cheque from ABC Ltd.
|
3000
|
Jan 14
|
Issued a cheque to maduram co
|
6500
|
Jan 15
|
Paid college fees of owner’s son
|
1750
|
Jan 16
|
Paid for household aritcles of owner
|
550
|
Jan 17
|
Computers purchased for office use
|
33000
|
Lets Separate two accounting aspects (debit & credit)
Debit / Get / Receiver /
Expenses Name
|
Credit / Give / Giver /
Income Name
|
Cash
|
Capital
|
Purchased
|
Cash
|
Cash
|
Sales
|
Purchased
|
Mahesh
|
Varun
|
Sales
|
Mahesh
|
Purchased Returned
|
Cash
|
Anita
|
Sales Return
|
Madan
|
Office Premises
|
Cash
|
Cash
|
Type Writer
|
Rent
|
Cash
|
Cash
|
Commission
|
Bank
|
ABC LTd
|
Maduram Co
|
Bank
|
Drawings
|
Cash
|
Drawings
|
Cash
|
Computer
|
Cash
|
Let us pass journal entries based on above accounting aspects.
Particular
|
Debit
|
Credit
|
Cash a/c
|
80000
|
|
To Capital a/c
|
80000
|
|
Purchased A/c
|
7000
|
|
To Cash A/c
|
7000
|
|
Cash A/c
|
5000
|
|
To Sales
|
5000
|
|
Purchased A/c
|
6000
|
|
To Mahesh A/c
|
6000
|
|
Varun A/c
|
2500
|
|
To Sales A/c
|
2500
|
|
Mahesh A/c
|
1500
|
|
To Purchased Returned A/c
|
1500
|
|
Cash A/c
|
2300
|
|
To Anita A/c
|
2300
|
|
Sales Returns A/c
|
800
|
|
To Madan A/c
|
800
|
|
Office Premises A/c
|
20000
|
|
To Cash A/c
|
20000
|
|
Cash A/c
|
1500
|
|
To Type Writer A/c
|
1500
|
|
Rent A/c
|
3000
|
|
To Cash A/c
|
3000
|
|
Cash A/c
|
200
|
|
To Commission
|
200
|
|
Bank A/c
|
3000
|
|
ABC Ltd A/c
|
3000
|
|
Maduram Co A/c
|
6500
|
|
To Bank A/c
|
6500
|
|
Drawing A/c
|
1750
|
|
To Cash A/c
|
1750
|
|
Drawing A/c
|
550
|
|
To Cash A/c
|
550
|
|
Computer A/c
|
33000
|
|
To Cash A/c
|
33000
|
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