Journalise the following transactions in the books of Vijay Furniture, Delhi: Sold goods costing ₹ 1,50,000 to Asha at a profit of 20% on sales less 10% Trade Discount
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Journalise the following transactions in the books of Mohan, Delhi: Raj of Alwar, Rajasthan, who owed Mohan ₹ 25,000, became insolvent
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Journalise the following transactions: Paid into bank ₹ 21,000 for opening Current Account. Withdrew for personal expenses ₹ 5,000.
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Journalise the following transactions in the books of Ruma: Started business with cash 80,000 Purchased goods from Rahul 50,000
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Journalise the following transactions in the books of Gaurav: Gaurav started business introducing capital in cash ₹ 2,00,000 and cheque ₹ 4,00,000
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Journalise the following transactions in the books of Dhruv: Commenced business with cash ₹ 1,00,000 and cheque ₹ 7,00,000.
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Enter the following transactions in the Journal of Tarun: Tarun commenced business with cash 2,00,000
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Journalise the following transactions in the books of Alok Enterprises: Alok started business by depositing cheque from his savings account
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Journalise the following transactions: Kamal started business with cash 1,00,000 Kamal introduced additional capital by cheque 50,000
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Analyse the following transactions, state the nature of accounts and state which account will be debited and which account will be credited:
Solution:- i) Furniture Cash Debit Credit 75,000 75,000 ii) Purchase Cash Debit Credit 55,000 55,000 iii) Cash Sale Debit Credit 35,000 35,000 iv) Om Sales Debit Credit 60,000 60,000 v) Bank Cash Debit Credit 70,000 70,000 vi) Cheque in Hand…