Aakash started business with cash ₹ 3,00,000; Bank deposit of ₹ 40,00,000 and furniture ₹ 4,00,000.
Pass Journal entries for the following transactions:
(a) Aakash started business with cash ₹ 3,00,000; Bank deposit of ₹ 40,00,000 and furniture ₹ 4,00,000.
(b) Bought goods from Bhushan Traders ₹ 30,00,000 against cheque of ₹ 15,00,000, balance to be paid later.
(c) Returned good of ₹ 1,20,000 to Bhushan Traders:
(d) Sold goods to Pawan ₹ 4,00,000.
(e) Paid to Bhushan Traders ₹ 1,50,000 and cash discount received 2%.
(f) Goods returned by Pawan ₹ 80,000.
(g) Sold goods for cash ₹ 1,20,000.
(h) Goods given as samples ₹ 20,000.
(i) Paid income tax of ₹ 37,500.
(j) Goods taken by Aakash for household use ₹ 10,000.
Anurag Pathak Changed status to publish September 20, 2023