Pankaj started business with cash ₹ 2,00,000 and Bank ₹ 8,00,000. Bought a machinery for ₹ 25,00,000 by making a down-payment of 10%.
Pass Journal entries for the following transactions:
(a) Pankaj started business with cash ₹ 2,00,000 and Bank ₹ 8,00,000.
(b) Bought a machinery for ₹ 25,00,000 by making a down-payment of 10%.
(c) Paid ₹ 48,000 as wages for installation of machine.
(d) Bought goods from Chhabra Bros. ₹ 3,00,000.
(e) Withdrawn from bank ₹ 50,000.
(f) Repaid bank loan ₹ 35,000 including interest of ₹ 3,000.
(g) Sold goods to Samuel ₹ 40,000.
(h) Received from Samuel ₹ 39,750, discount allowed ₹ 250.
(i) Paid rent of ₹ 37,500 by cheque.
(j) Provide depreciation on machinery at 15% per annum.
Anurag Pathak Changed status to publish September 19, 2023