Question

journalise the following:
a. john commenced business with cash?
b.purchased goods from vineeth on credit?
c.sold goods?
d.purchased goods for cash?
e.bought furniture from furniture mart?
f.sold goods to mukesh?

Answer 1

Cash A/c Dr.
To Capital A/c

Purchases A/c Dr.
To Vineeth A/c

Cash A/c Dr.
To Sales A/c
(For goods sold for cash)

Purchases A/c Dr.
To Cash A/c

Furniture A/c Dr.
To Furniture Mart A/c
(For furniture purchased on credit from Furniture Mart)

Mukesh A/c Dr.
To Sales A/c
(For goods sold on credit to Mukesh)