1. Journalise the following transactions in the books of X Ltd.
1-8-21 X commenced business with a capital of Rs.1,00,000 2-8-21 Bought goods for cash Rs.60,000 3-8-21 Sold goods for cash Rs.50,000 4-8-21 Deposited in IOB Rs.40,000 5-8-21 Bought goods from Ravi Rs.30,000 6-8-21 Bought furniture for cash Rs.4,000 7-8-21 Sold goods to Nathan Rs.40,000 8-8-21 Paid cash to Seenu Rs.10,000 9-8-21 Nathan returned goods worth Rs.2,000 10-8-21 Paid advertisement charges Rs.4,000 11-8-21 Returned goods to Ravi Rs.3,000 12-8-21 Withdrew cash from bank Rs.10,000 13-8-21 Bought a bicycle for office use Rs.3,000 14-8-21 Received commission Rs.1,000 15-8-21 Drew cash for personal use Rs.6,000
Journal entries in the books of X Ltd.
Date Particulars L. F. No Dr. [Rs.] Cr. [Rs.] 1-8-21 Cash A/c Dr. 1,00,000 ------ To X’s Capital A/c ------ 1,00,000 [Being X commenced business with capital] 2-8-21 Purchase A/c Dr. 60,000 ----- To Cash A/c ------ 60,000 [Being goods purchased for cash] 3-8-21 Cash A/c Dr. 50,000 ----- To Sales A/c ----- 50,000 [Being goods sold for cash] 4-8-21 Bank A/c Dr. 40,000 ----- To Cash A/c ------ 40,000 [Being cash deposited in I.O.B] 5-8-21 Purchase A/c Dr. 30,000 ----- To Ravi A/c ----- 30,000 [Being goods purchased from Ravi for credit] 6-8-21 Furniture A/c Dr. 4,000 ----- To Cash A/c. ------ 4,000 [Being furniture purchased for cash] 7-8-21 Nathan A/c Dr. 40,000 ------ To Sales A/c ------ 40,000 [Being goods sold to Nathan for credit] 8-8-21 Seenu A/c Dr. 10,000 ----- To Cash A/c ----- 10,000 [Being cash paid to Seenu] 9-8-21 Sales return A/c Dr. 2,000 ----- To Nathan A/c ----- 2,000 [Being sold goods returned by Nathan] 10-8-21 Advertisement A/c Dr. 4,000 ---- To Cash A/c ----- 4,000 Being advertisement charges paid in cash] 11-8-21 Ravi A/c Dr. 3,000 ----- To Purchase return A/c ----- 3,000 [Being purchased goods returned to Ravi] 12-8-21 Cash A/c Dr. 10,000 ------ To Bank A/c ------ 10,000 [Being cash withdrawn from bank] 13-8-21 Bicycle A/c Dr. 3,000 ----- To Cash A/c ------ 3,000 [Being Bicycle purchased for office use] 14-8-21 Cash A/c Dr. 1,000 ----- To Commission A/c ----- 1,000 [Being commission received in cash] 15-8-21 Drawings A/c Dr. 6,000 ----- To Cash A/c ------ 6,000 [Being cash withdrawn for personal use] 31-8-21 Total 3,63,000 3,63,000