2019 | ₹ | |
March 1 | Started business with cash | 50,000 |
2 | Purchased Machinery for cash | 20,000 |
Paid installation charges on machinery | 2,000 | |
5 | Purchased goods from X of the list price of ₹ 25,000, Trade Discount 20% and cash discount 5%. Payment was made in cash immediately. | |
10 | Sold goods to Y costing ₹ 10,000 at 30% profit on cost less 10% trade discount. | |
15 | Paid Rent | 1,000 |
20 | Goods stolen from business | 2,000 |
22 | Gave as charity : | |
Cash
|
100 | |
Goods
|
200 | |
31 | Purchased Post Cards and Envelopes | 50 |
31 | Purchased a Computer for business | 25,000 |
Journal In the Books of … |
|||||
Date | Particulars | L.F. | Debit Amount (₹) | Credit Amount (₹) | |
2019 | |||||
Mar. 01 | Cash A/c | Dr. | 50,000 | ||
To Capital A/c
|
50,000 | ||||
(Started business with cash) | |||||
Mar. 02 | Machinery A/c | Dr. | 22,000 | ||
To Cash A/c
|
22,000 | ||||
(Machinery purchased for cash and installation charges paid) | |||||
Mar. 05 | Purchases A/c | Dr. | 20,000 | ||
To Cash A/c
|
19,000 | ||||
To Discount Received A/c
|
1,000 | ||||
(Goods purchased for cash and received discount) | |||||
Mar. 10 | Y’s A/c | Dr. | 11,700 | ||
To Sales A/c
|
11,700 | ||||
(Goods sold on credit to Y at 30% profit on cost) | |||||
Mar. 15 | Rent A/c | Dr. | 1,000 | ||
To Cash A/c
|
1,000 | ||||
(Rent paid) | |||||
Mar. 20 | Loss by Theft A/c | Dr. | 2,000 | ||
To Purchases A/c
|
2,000 | ||||
(Goods stolen from business) | |||||
Mar. 22 | Charity A/c | Dr. | 300 | ||
To Cash A/c
|
100 | ||||
To Purchases A/c
|
200 | ||||
(Charity given) | |||||
Mar. 31 | Postage A/c | Dr. | 50 | ||
To Cash A/c
|
50 | ||||
(Paid for postage) | |||||
Mar. 31 | Computer A/c | Dr. | 25,000 | ||
To Cash A/c
|
25,000 | ||||
(Computer purchased) | |||||
TOTAL | 1,32,050 | 1,32,050 | |||