1
Question
Journalise the following transactions in the Journal of M/s. Gupta Brothers (Prop. Shri R. K. Gupta), Delhi and post them to the Ledger:
2019
₹
March 1
Started business with cash
2,00,000
March 2
Opened bank account with SBI
80,000
March 4
Goods purchased from Raj, Jaipur (Rajasthan)
22,000
March 5
Goods purchased for cash
30,000
March 8
Goods sold to Naman, Delhi
12,000
March 10
Cash paid to Raj
22,000
March 15
Cash received from Naman
11,700
Discount allowed
300
March 16
Paid wages
200
March 18
Furniture purchased for office use
5,000
March 20
Withdrawn from bank for personal use
4,000
March 22
Issued cheque for rent
3,000
March 23
Goods taken for household purpose. These goods were purchased from Raj
2,000
March 24
Drawn cash from bank for office use
6,000
March 26
Commission received
1,000
March 27
Bank charges
300
March 28
Cheque issued for life insurance premium of Proprietor
3,000
March 29
Paid salary
10,000
March 30
Cash sales
20,000
| 2019 | ₹ | |
| March 1 | Started business with cash | 2,00,000 |
| March 2 | Opened bank account with SBI | 80,000 |
| March 4 | Goods purchased from Raj, Jaipur (Rajasthan) | 22,000 |
| March 5 | Goods purchased for cash | 30,000 |
| March 8 | Goods sold to Naman, Delhi | 12,000 |
| March 10 | Cash paid to Raj | 22,000 |
| March 15 | Cash received from Naman | 11,700 |
| Discount allowed | 300 | |
| March 16 | Paid wages | 200 |
| March 18 | Furniture purchased for office use | 5,000 |
| March 20 | Withdrawn from bank for personal use | 4,000 |
| March 22 | Issued cheque for rent | 3,000 |
| March 23 | Goods taken for household purpose. These goods were purchased from Raj | 2,000 |
| March 24 | Drawn cash from bank for office use | 6,000 |
| March 26 | Commission received | 1,000 |
| March 27 | Bank charges | 300 |
| March 28 | Cheque issued for life insurance premium of Proprietor | 3,000 |
| March 29 | Paid salary | 10,000 |
| March 30 | Cash sales | 20,000 |
Open in App
Solution
Books of M/s Gupta Brothers
Journal
Date
Particulars
L.F.
Debit Amount
(₹)
Credit
Amount
(₹)
2019
Mar.01
Cash A/c
Dr.
2,00,000
To Capital A/c
2,00,000
(Started business with Cash)
Mar.02
Bank A/c
Dr.
80,000
To Cash A/c
80,000
(Opened Bank account with SBI)
Mar.04
Purchases A/c
To Raj A/c
Dr.
24,000
24,000
(Purchased goods on credit)
Mar.05
Purchases A/c
To Cash A/c
(Purchased goods in cash)
Dr.
30,000
30,000
Mar.08
Naman A/c
Dr.
12,000
To Sales A/c
(Sold good to on credit)
12,000
Mar.10
Raj
Dr.
22,000
To Cash A/c
22,000
(Cash Paid to Raj)
Mar.15
Cash A/c
Dr.
11,700
Discount Allowed A/c
Dr.
300
To Naman
12,000
(Cash received from Naman and discount allowed)
Mar.16
Wages A/c
Dr.
200
To Cash
200
(Paid Wages)
Mar.18
Furniture A/c
To Cash
(Purchased furniture in cash)
Dr.
5,000
5,000
Mar.20
Drawings A/c
Dr.
4,000
To Bank A/c
4,000
(Withdrawn from bank for personal use)
Mar.22
Rent A/c
To Bank A/c
(Paid Rent through cheque)
Dr.
3,000
3,000
Mar.23
Drawings A/c
Dr.
2,000
To Purchases A/c
(Goods taken for personal use and IGST reversed)
2,000
Mar.24
Cash A/c
Dr.
6,000
To Bank
6,000
(Cash withdrawn from bank)
Mar.26
Cash A/c
To Commission A/c
Dr.
1,000
1,000
(Cash received for commission)
Mar.27
Bank Charges A/c
To Bank A/c
(Bank Charges debited)
Dr.
300
300
Mar.28
Drawings A/c
Dr.
3,000
To Bank
3,000
(Amount withdrawn to pay Insurance Premium of proprietor)
Mar.29
Salary A/c
Dr.
10,000
To Cash A/c
10,000
(Paid Salary)
Mar.30
Cash A/c
Dr.
20,000
To Sales A/c
(Sold goods for Cash)
20,000
Ledger
Cash Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
2019
2019
Mar.01
Capital
2,00,000
Mar.02
Bank
80,000
Mar.15
Mar.24
Mar.26
Mar.30
Naman
Bank
Commission
Sales
11,700
6,000
1,000
20,000
Mar.05
Mar.10
Mar.16
Mar.18
Mar.29
Mar.31
Purchases
Raj
Wages
Furniture
Salary
Balance c/d
30,000
22,000
200
5,000
10,000
91,500
2,38,700
2,38,700
Bank Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
2019
2019
Mar.02
Cash
80,000
Mar.20
Mar.22
Drawings
Rent
4,000
3,000
Mar.24
Cash
6,000
Mar.27
Mar.28
Bank Charges
Drawings
300
3,000
Mar.31
Balance C/d
63,700
80,000
80,000
Capital Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
2019
2019
Mar.31
Balance c/d
2,00,000
Mar.01
Cash
2,00,000
2,00,000
2,00,000
Purchases Account
Dr.
Cr.
Date
Particulars
L.F.
Amount
(₹)
Date
Particulars
L.F.
Amount
(₹)
2019
2019
Mar.04
Raj
22,000
Mar.23
Drawings
2,000
Mar.05
Cash
30,000
Mar.31
Balance c/d
50,000
52,000
52,000
Raj Account
Dr.
Cr.
Date
Particulars
L.F.
Amount
(₹)
Date
Particulars
L.F.
Amount
(₹)
2019
2019
Mar.10
Cash
22,000
Mar.04
Purchase
22,000
22,000
22,000
Sales Account
Dr.
Cr.
Date
Particulars
L.F.
Amount
(₹)
Date
Particulars
L.F.
Amount
(₹)
2019
2019
Mar.08
Naman
12,000
Mar.31
Balance c/d
32,000
Mar.30
Cash
20,000
32,000
32,000
Naman
Dr.
Cr.
Date
Particulars
L.F.
Amount
(₹)
Date
Particulars
L.F.
Amount
(₹)
2019
2019
Mar.08
Sales
12,000
Mar.15
Mar.15
Cash
Discount Allowed
11,700
300
12,000
12,000
Discount Allowed Account
Dr.
Cr.
Date
Particulars
L.F.
Amount
(₹)
Date
Particulars
L.F.
Amount
(₹)
2019
2019
Mar.15
Naman
300
Mar.31
Balance c/d
300
300
300
Wages Account
Dr.
Cr.
Date
Particulars
L.F.
Amount
(₹)
Date
Particulars
L.F.
Amount
(₹)
2019
2019
Mar.16
Cash
200
Mar.31
Balance c/d
200
200
200
Furniture Account
Dr.
Cr.
Date
Particulars
L.F.
Amount
(₹)
Date
Particulars
L.F.
Amount
(₹)
2019
2019
Mar.18
Cash
5,000
Mar.31
Balance c/d
5,000
5,000
5,000
Drawings Account
Dr.
Cr.
Date
Particulars
L.F.
Amount
(₹)
Date
Particulars
L.F.
Amount
(₹)
2019
2019
Mar.20
Bank
4,000
Mar.23
Mar.28
Purchases A/c
Bank
2,000
3,000
Mar.31
Balance c/d
9,000
9,000
9,000
Commission Account
Dr.
Cr.
Date
Particulars
L.F.
Amount
(₹)
Date
Particulars
L.F.
Amount
(₹)
2019
2019
Mar.31
Balance c/d
1,000
Mar.26
Cash
1,000
1,000
1,000
Bank Charges Account
Dr.
Cr.
Date
Particulars
L.F.
Amount
(₹)
Date
Particulars
L.F.
Amount
(₹)
2019
2019
Mar.22
Bank A/c
300
Mar.31
Balance c/d
300
300
300
Rent Account
Dr.
Cr.
Date
Particulars
L.F.
Amount
(₹)
Date
Particulars
L.F.
Amount
(₹)
2019
2019
Mar.22
Bank
3,000
Mar.22
Balance c/d
3,000
3,000
3,000
Salary Account
Dr.
Cr.
Date
Particulars
L.F.
Amount
(₹)
Date
Particulars
L.F.
Amount
(₹)
2019
2019
Mar.29
Cash
10,000
Mar.31
Balance c/d
10,000
10,000
10,000
|
Books of M/s Gupta Brothers
|
|||||
|
Journal
|
|||||
|
Date
|
Particulars
|
L.F.
|
Debit Amount
(₹)
|
Credit
Amount
(₹)
|
|
|
2019
|
|
|
|
|
|
|
Mar.01
|
Cash A/c
|
Dr.
|
|
2,00,000
|
|
|
|
To Capital A/c
|
|
|
2,00,000
|
|
|
|
(Started business with Cash)
|
|
|
|
|
|
|
|
|
|
|
|
|
Mar.02
|
Bank A/c
|
Dr.
|
|
80,000
|
|
|
|
To Cash A/c
|
|
|
80,000
|
|
|
|
(Opened Bank account with SBI)
|
|
|
|
|
|
|
|
|
|
|
|
|
Mar.04
|
Purchases A/c
To Raj A/c |
Dr.
|
|
24,000
|
24,000 |
|
|
(Purchased goods on credit)
|
|
|
|
|
|
|
|
|
|
|
|
|
Mar.05
|
Purchases A/c
To Cash A/c (Purchased goods in cash) |
Dr.
|
|
30,000
|
30,000 |
|
|
|
|
|
|
|
|
Mar.08
|
Naman A/c
|
Dr.
|
|
12,000
|
|
|
|
To Sales A/c
(Sold good to on credit) |
12,000 | |||
|
|
|
|
|
|
|
|
Mar.10
|
Raj
|
Dr.
|
|
22,000
|
|
|
|
To Cash A/c
|
|
|
22,000
|
|
|
|
(Cash Paid to Raj)
|
|
|
|
|
|
|
|
|
|
|
|
|
Mar.15
|
Cash A/c
|
Dr.
|
|
11,700
|
|
|
|
Discount Allowed A/c
|
Dr.
|
|
300
|
|
|
|
To Naman
|
|
|
12,000
|
|
|
|
(Cash received from Naman and discount allowed)
|
|
|
|
|
|
|
|
|
|
|
|
|
Mar.16
|
Wages A/c
|
Dr.
|
|
200
|
|
|
|
To Cash
|
|
|
200
|
|
|
|
(Paid Wages)
|
|
|
|
|
|
|
|
|
|
|
|
|
Mar.18
|
Furniture A/c
To Cash (Purchased furniture in cash) |
Dr.
|
|
5,000
|
5,000 |
|
|
|
|
|
|
|
|
Mar.20
|
Drawings A/c
|
Dr.
|
|
4,000
|
|
|
|
To Bank A/c
|
|
|
4,000
|
|
|
|
(Withdrawn from bank for personal use)
|
|
|
|
|
|
|
|
|
|
|
|
|
Mar.22
|
Rent A/c
To Bank A/c (Paid Rent through cheque) |
Dr.
|
|
3,000
|
3,000 |
|
|
|
|
|
|
|
|
Mar.23
|
Drawings A/c
|
Dr.
|
|
2,000
|
|
|
|
To Purchases A/c
(Goods taken for personal use and IGST reversed) |
|
|
2,000
|
|
|
|
|
|
|
|
|
|
Mar.24
|
Cash A/c
|
Dr.
|
|
6,000
|
|
|
|
To Bank
|
|
|
6,000
|
|
|
|
(Cash withdrawn from bank)
|
|
|
|
|
|
|
|
|
|
|
|
|
Mar.26
|
Cash A/c
To Commission A/c |
Dr.
|
|
1,000
|
1,000 |
|
|
(Cash received for commission)
|
|
|
|
|
|
|
|
|
|
|
|
|
Mar.27
|
Bank Charges A/c
To Bank A/c (Bank Charges debited) |
Dr.
|
|
300
|
300 |
|
|
|
|
|
|
|
|
Mar.28
|
Drawings A/c
|
Dr.
|
|
3,000
|
|
|
|
To Bank
|
|
|
3,000
|
|
|
|
(Amount withdrawn to pay Insurance Premium of proprietor)
|
|
|
|
|
|
|
|
|
|
|
|
|
Mar.29
|
Salary A/c
|
Dr.
|
|
10,000
|
|
|
|
To Cash A/c
|
|
|
10,000
|
|
|
|
(Paid Salary)
|
|
|
|
|
|
|
|
|
|
|
|
|
Mar.30
|
Cash A/c
|
Dr.
|
|
20,000
|
|
|
|
To Sales A/c
(Sold goods for Cash) |
|
|
20,000
|
|
|
|
|
|
|
|
|
|
Ledger
|
|||||||||
|
Cash Account
|
|||||||||
|
Dr.
|
|
Cr.
|
|||||||
|
Date
|
Particulars
|
J.F.
|
Amount
(₹)
|
Date
|
Particulars
|
J.F.
|
Amount
(₹)
|
||
|
2019
|
|
|
|
2019
|
|
|
|
||
|
Mar.01
|
Capital
|
|
2,00,000
|
Mar.02
|
Bank
|
|
80,000
|
||
|
Mar.15
Mar.24 Mar.26 Mar.30 |
Naman
SalesBank Commission |
|
11,700
6,000 1,000 20,000 |
Mar.05
Mar.10 Mar.16 Mar.18 Mar.29 Mar.31 |
Purchases
Raj Wages |
|
30,000
22,000 200 5,000 10,000 91,500 |
||
|
|
|
|
|
|
|
|
|
||
|
|
|
|
2,38,700
|
|
|
|
2,38,700
|
||
|
|
|
|
|
|
|
|
|
||
|
Bank Account
|
|||||||||
|
Dr.
|
|
Cr.
|
|||||||
|
Date
|
Particulars
|
J.F.
|
Amount
(₹)
|
Date
|
Particulars
|
J.F.
|
Amount
(₹)
|
||
|
2019
|
|
|
|
2019
|
|
|
|
||
|
Mar.02
|
Cash
|
|
80,000
|
Mar.20
Mar.22 |
Drawings
Rent |
|
4,000
3,000 |
||
| Mar.24 | Cash | 6,000 | |||||||
|
|
|
|
|
Mar.27
Mar.28 |
Bank Charges
Drawings |
|
300
3,000 |
||
|
|
|
|
|
Mar.31
|
Balance C/d
|
|
63,700
|
||
|
|
|
|
80,000
|
|
|
|
80,000
|
||
|
|
|
|
|
|
|
|
|
||
|
Capital Account
|
|
|||||||||
|
Dr.
|
|
Cr.
|
||||||||
|
Date
|
Particulars
|
J.F.
|
Amount
(₹)
|
Date
|
Particulars
|
J.F.
|
Amount
(₹)
|
|
||
|
2019
|
|
|
|
2019
|
|
|
|
|
||
|
Mar.31
|
Balance c/d
|
|
2,00,000
|
Mar.01
|
Cash
|
|
2,00,000
|
|
||
|
|
|
|
2,00,000
|
|
|
|
2,00,000
|
|
||
|
|
|
|
|
|
|
|
|
|
||
|
Purchases Account
|
|||||||||
|
Dr.
|
|
Cr.
|
|||||||
|
Date
|
Particulars
|
L.F.
|
Amount
(₹)
|
Date
|
Particulars
|
L.F.
|
Amount
(₹)
|
||
|
2019
|
|
|
|
2019
|
|
|
|
||
|
Mar.04
|
Raj
|
|
22,000
|
Mar.23
|
Drawings
|
|
2,000
|
||
|
Mar.05
|
Cash
|
|
30,000
|
Mar.31
|
Balance c/d
|
|
50,000
|
||
|
|
|
|
52,000
|
|
|
|
52,000
|
||
|
|
|
|
|
|
|
|
|
||
|
Raj Account
|
|
|||||||||
|
Dr.
|
|
Cr.
|
||||||||
|
Date
|
Particulars
|
L.F.
|
Amount
(₹)
|
Date
|
Particulars
|
L.F.
|
Amount
(₹)
|
|||
|
2019
|
|
|
|
2019
|
|
|
|
|||
|
Mar.10
|
Cash
|
|
22,000
|
Mar.04
|
Purchase
|
|
22,000
|
|||
|
|
|
|
22,000
|
|
|
|
22,000
|
|||
|
|
|
|
|
|
|
|
|
|||
|
Sales Account
|
|
|||||||||
|
Dr.
|
|
Cr.
|
||||||||
|
Date
|
Particulars
|
L.F.
|
Amount
(₹)
|
Date
|
Particulars
|
L.F.
|
Amount
(₹)
|
|||
|
2019
|
|
|
|
2019
|
|
|
|
|||
|
|
|
|
|
Mar.08
|
Naman
|
|
12,000
|
|||
|
Mar.31
|
Balance c/d
|
|
32,000
|
Mar.30
|
Cash
|
|
20,000
|
|||
|
|
|
|
32,000
|
|
|
|
32,000
|
|||
|
|
|
|
|
|
|
|
|
|||
|
Naman
|
|||||||||
|
Dr.
|
|
Cr.
|
|||||||
|
Date
|
Particulars
|
L.F.
|
Amount
(₹)
|
Date
|
Particulars
|
L.F.
|
Amount
(₹)
|
||
|
2019
|
|
|
|
2019
|
|
|
|
||
|
Mar.08
|
Sales
|
|
12,000
|
Mar.15
Mar.15 |
Cash
Discount Allowed |
|
11,700
300 |
||
|
|
|
|
|
|
|||||
|
|
|
|
12,000
|
|
|
|
12,000
|
||
|
|
|
|
|
|
|
|
|
||
|
Discount Allowed Account
|
|||||||||
|
Dr.
|
|
Cr.
|
|||||||
|
Date
|
Particulars
|
L.F.
|
Amount
(₹)
|
Date
|
Particulars
|
L.F.
|
Amount
(₹)
|
||
|
2019
|
|
|
|
2019
|
|
|
|
||
|
Mar.15
|
Naman
|
|
300
|
Mar.31
|
Balance c/d
|
|
300
|
||
|
|
|
|
300
|
|
|
|
300
|
||
|
|
|
|
|
|
|
|
|
||
|
Wages Account
|
|||||||||
|
Dr.
|
|
Cr.
|
|||||||
|
Date
|
Particulars
|
L.F.
|
Amount
(₹)
|
Date
|
Particulars
|
L.F.
|
Amount
(₹)
|
||
|
2019
|
|
|
|
2019
|
|
|
|
||
|
Mar.16
|
Cash
|
|
200
|
Mar.31
|
Balance c/d
|
|
200
|
||
|
|
|
|
200
|
|
|
|
200
|
||
|
|
|
|
|
|
|
|
|
||
|
Furniture Account
|
|||||||||
|
Dr.
|
|
Cr.
|
|||||||
|
Date
|
Particulars
|
L.F.
|
Amount
(₹)
|
Date
|
Particulars
|
L.F.
|
Amount
(₹)
|
||
|
2019
|
|
|
|
2019
|
|
|
|
||
|
Mar.18
|
Cash
|
|
5,000
|
Mar.31
|
Balance c/d
|
|
5,000
|
||
|
|
|
|
5,000
|
|
|
|
5,000
|
||
|
|
|
|
|
|
|
|
|
||
|
Drawings Account
|
|||||||||
|
Dr.
|
|
Cr.
|
|||||||
|
Date
|
Particulars
|
L.F.
|
Amount
(₹)
|
Date
|
Particulars
|
L.F.
|
Amount
(₹)
|
||
|
2019
|
|
|
|
2019
|
|
|
|
||
|
Mar.20
|
Bank
|
|
4,000
|
|
|
|
|
||
|
Mar.23
Mar.28 |
Purchases A/c
Bank |
|
2,000
3,000 |
Mar.31
|
Balance c/d
|
|
9,000
|
||
|
|
|
|
9,000
|
|
|
|
9,000
|
||
|
|
|
|
|
|
|
|
|
||
|
Commission Account
|
|||||||||
|
Dr.
|
|
Cr.
|
|||||||
|
Date
|
Particulars
|
L.F.
|
Amount
(₹)
|
Date
|
Particulars
|
L.F.
|
Amount
(₹)
|
||
|
2019
|
|
|
|
2019
|
|
|
|
||
|
Mar.31
|
Balance c/d
|
|
1,000
|
Mar.26
|
Cash
|
|
1,000
|
||
|
|
|
|
1,000
|
|
|
|
1,000
|
||
|
|
|
|
|
|
|
|
|
||
|
Bank Charges Account
|
|||||||||
|
Dr.
|
|
Cr.
|
|||||||
|
Date
|
Particulars
|
L.F.
|
Amount
(₹)
|
Date
|
Particulars
|
L.F.
|
Amount
(₹)
|
||
|
2019
|
|
|
|
2019
|
|
|
|
||
|
Mar.22
|
Bank A/c
|
|
300
|
Mar.31
|
Balance c/d
|
|
300
|
||
|
|
|
|
300
|
|
|
|
300
|
||
|
|
|
|
|
|
|
|
|
||
|
Rent Account
|
|||||||||
|
Dr.
|
|
Cr.
|
|||||||
|
Date
|
Particulars
|
L.F.
|
Amount
(₹)
|
Date
|
Particulars
|
L.F.
|
Amount
(₹)
|
||
|
2019
|
|
|
|
2019
|
|
|
|
||
|
Mar.22
|
Bank
|
|
3,000
|
Mar.22
|
Balance c/d
|
|
3,000
|
||
|
|
|
|
3,000
|
|
|
|
3,000
|
||
|
|
|
|
|
|
|
|
|
||
|
Salary Account
|
|||||||||
|
Dr.
|
|
Cr.
|
|||||||
|
Date
|
Particulars
|
L.F.
|
Amount
(₹)
|
Date
|
Particulars
|
L.F.
|
Amount
(₹)
|
||
|
2019
|
|
|
|
2019
|
|
|
|
||
|
Mar.29
|
Cash
|
|
10,000
|
Mar.31
|
Balance c/d
|
|
10,000
|
||
|
|
|
|
10,000
|
|
|
|
10,000
|
||
|
|
|
|
|
|
|
|
|
||
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