Question

Journalise the following transaction 2016
Jan 1 Rajesh started business with cash Rs. 1,00,000 and a building valued at Rs. 5,00,000
Jan 3 Purchased goods amounting to Rs. 2,00,000 out of which goods of Rs. 1,80,000 were purchased on credit from Smith
Jan 5 Sold goods to Anil 44,000
Jan 9 Goods returned by Anil 4,000
Jan 11 Goods purchased from Karan 63,000
Jan 15 Goods returned to Karan 3,000
Jan 22 Purchased goods for cash 2,000
Jan 22 Paid cartage 100
Jan 30 Paid interest on loan 1,000

Answer 1

Journal
$$\begin{array}{ccccc}\text{Date}& \text{Particular}& \text{LF}& \text{Amt. (Dr)}& \text{Amt.(Cr)}\\ 2016& & & & \\ \text{Jan 1}& \text{Cash A/c}\text{Dr}& & 1,00,000& \\ & \text{Building A/c}\text{Dr}& & 5,00,000& \\ & \text{To Capital A/c}& & & 6,00,000\\ & \text{(Being the business started with cash and building)}& & & \\ & \underset{–}{}& & & \\ \text{Jan 3}& \text{Purchases A/c}\text{Dr}& & 2,00,000& \\ & \text{To Cash A/c}& & & 20,000\\ & \text{To Smith}& & & 1,80,000\\ & \text{(Being goods purchased for cash Rs. 20,000 and on credit from Smith)}& & & \\ & \underset{–}{}& & & \\ \text{Jan 5}& \text{Anil}\text{Dr}& & 44,000& \\ & \text{To Sales A/c}& & & 44,000\\ & \text{(Being the goods sold to Anil)}& & & \\ & \underset{–}{}& & & \\ \text{Jan 9}& \text{Sales Return A/c}\text{Dr}& & 4,000& \\ & \text{To Anil}& & & 4,000\\ & \text{(Being the goods returned by Anil)}& & & \\ & \underset{–}{}& & & \\ \text{Jan 11}& \text{Purchases A/c}\text{Dr}& & 63,000& \\ & \text{To Karan}& & & 63,000\\ & \text{(Being the goods purchased from Karan)}& & & \\ & \underset{–}{}& & & \\ \text{Jan 15}& \text{Karan}\text{Dr}& & 3,000& \\ & \text{To Purchases Return A/c}& & & 3,000\\ & \text{(Being the goods returned to Karan)}& & & \\ & \underset{–}{}& & & \\ \text{Jan 22}& \text{Purchases A/c}\text{Dr}& & 2,000& \\ & \text{To Cash A/c}& & & 2,000\\ & \text{(Being the goods purchased against cash)}& & & \\ & \underset{–}{}& & & \\ \text{Jan 22}& \text{Cartage A/c}\text{Dr}& & 100& \\ & \text{(Being the cartage paid)}& & & \\ & \underset{–}{}& & & \\ \text{Jan 30}& \text{Interest on Loan A/c}\text{Dr}& & 1,000& \\ & \text{To Cash A/c}& & & 1,000\\ & \text{(Being the payment of interest on loan)}& & & \\ & \underset{–}{}& & & \\ & \underset{–}{}& & \underset{–}{}& \underset{–}{}\\ & \text{Total}& & 9,17,100& 9,17,100\\ & & & \underset{–}{}& \underset{–}{}\end{array}$$