Page 129 - Office Practice and Accounting -9

8. You are given following transactions.
Baishakh – 1 Started business with cash Rs. 90,000 and goods of Rs. 10,000
Baishakh – 2 Cash Rs. 60,000 deposited into bank
Baishakh – 4 Goods of Rs. 4,000 purchased from Rama

Baishakh – 5 Furniture sold to Uma for Rs. 2,000
Baishakh – 10 Cash drawn for domestic use Rs. 10,000
Baishakh – 12 Goods of Rs. 2500 sold to Sujan receiving cash Rs. 1,000 partial
receipt
Baishakh – 15 A cheque of Rs. 3,900 issued to Rama in full settlement
Baishakh – 16 Rs. 1,000 was paid for proprietor's life insurance premium

Baishakh – 20 Cash received from Uma
Baishakh – 25 Ganga who owns Rs. 10,000 declared insolvent and her account
is choosed
Baishakh – 28 Goods of Rs. 5,000 lost by accident out of which Rs. 3,000 claim
is admitted by insurance company
Baishakh – 30 Salary Rs. 200 due for the month
Required: Journal entries

Date Particular LF Debit (Rs) Credit (Rs.)
1–1 Cash A/c..........................................Dr. 90,000
Goods A/c..........................................Dr. 10,000
To Capital A/c 1,00,000
(Being business started with cash and goods)
1–2 Bank A/c..........................................Dr. 60,000
To Cash A/c 60,000
(Being cash deposited into Bank)
1–4 Purchase A/c..........................................Dr. 4,000
To Rama A/c 4,000
(Being goods purchased from Rama)
1–5 Uma A/c..........................................Dr. 2,000
To Furniture A/c 2,000
(Being furniture sold to Uma on credit)
1–10 Drawing A/c..........................................Dr. 10,000
To Cash A/c 10,000
(Being cash drawn for domestic use)
1–12 Sujan A/c..........................................Dr. 1,500
Cash A/c..........................................Dr. 1,000
To Sales A/c 2,500
(Being goods sold & partial payment received)

Office Practice and Accounting 9 125