Question

Journalise the following transactions in the journal of shri padukone.
(i) Paid cash to Anil 2,400
and discount received from Him 100
(ii) Received cash from Vijay 1,225
and discount allowed to him 25
(iii) Goods sold to Ravish 7,500
Ravish returned goods 500
Received cash from Ravish Rs. 6,875 in full settlement of his account.
(iv) sold goods to Rohan of the list price of Rs. 15,000 at 10% trade discount.
(v) Purchased goods from Bindu of the list price of 5,000 at 15% trade discount.
(vi) Purchased fruniture worth Rs. 20,000 and tools worth Rs. 4,000.
(vii) Paid to Nishant out of business funds for repair fo shri padukone's House Rs. 8,000.
(viii) Supplied goods costing Rs. 12,000 to Peter, issued invoice at 10% above cost less 5% trade discount.

Answer 1

$$\begin{array}{ccccc}\text{Date}& \text{Particular}& \text{LF}& \text{Amt. (Dr)}& \text{Amt.(Cr)}\\ \left(i\right)& \text{Anil}\text{Dr}& & 2,500& \\ & \text{To Cash A/c}& & & 2,400\\ & \text{To discount Received A/c}& & & 100\\ & \text{(Being cash paid to Anil and discount received)}& & & \\ & \underset{–}{}& & & \\ \left(ii\right)& \text{Cash A/c}\text{Dr}& & 1,225& \\ & \text{Discount allowed a/c}\text{Dr}& & 25& \\ & \text{To Vijay}& & & 1,250\\ & \text{(Being cash received from Vijay and discounte allowed)}& & & \\ & \underset{–}{}& & & \\ \left(iii\right)& \text{Ravish}\text{Dr}& & 7,500& \\ & \text{To Sales a/c}& & & 7,500\\ & \text{(Being goods sold to RAvish)}& & & \\ & \underset{–}{}& & & \\ & \text{Sales Return A/c}\text{Dr}& & 500& \\ & \text{To Ravish}& & & 500\\ & \text{(Being goods returned by Ravish)}& & & \\ & \underset{–}{}& & & \\ & \text{Cash A/c}\text{Dr}& & 6,875& \\ & \text{Discount allowed A/c}\text{Dr}& & 125& \\ & \text{To Ravish}& & & 7,000\\ & \text{(Being Cash received from RAvish and discount allowed to him Balance c/f)}& & 18,750& 18750\\ & \underset{–}{}& & & \\ & \text{Balance b/f}& & 18,750& 18,750\\ & \text{Rohan}\text{Dr}& & 13,500& \\ & \text{To Sales A/c}& & & 13,500\\ & \text{(Being goods of the list price of Rs. 15,000 sold at 10\% trade discount)}& & & \\ & \underset{–}{}& & & \\ \left(v\right)& \text{Purchases A/c}\text{Dr}& & 4,250& \\ & \text{To Bindu}& & & 4,250\\ & \text{(Being goods of the list price of Rs. 5,000 purchased at 15\% trade discount)}& & & \\ & \underset{–}{}& & & \\ \left(vi\right)& \text{Furniture A/c}\text{Dr}& & 20,000& \\ & \text{Tools A/c}\text{Dr}& & 4,000& \\ & \text{To Cash A/c}& & & 24,000\\ & \text{(Being furniture and tools purchase)}& & & \\ & \underset{–}{}& & & \\ \left(vii\right)& \text{Drawings A/c}\text{Dr}& & 8,000& \\ & \text{To Cash A/c}& & & 8,000\\ & \text{(Being amount paid for repairs of shri padukones residential house)}& & & \\ & \underset{–}{}& & & \\ \left(viii\right)& \text{Peter}\text{Dr}& & 12,540& \\ & \text{To Sales A/c(W.N)}& & & 12,540\\ & \text{(Being goods sold to peter at 10\% above cost and allowed 5\% dis)}& & & \\ & \underset{–}{}& & \underset{–}{}& \underset{–}{}\\ & \text{Total}& & 81,040& 81,040\\ & & & \underset{–}{}& \underset{–}{}\end{array}$$