Question

On 1st January, 2016, Gyan Singh opened a bank account by depositing Rs.24,000 in cash. All remittance are to be paid into bank on the same day on which they are received and all payment are made by cheques. Enther the following transaction in the jurnal.

2016
Jan 2 goods sold to Pritam for cash Rs. 1,000.
Jan 5 Settled Arjun's Account of Rs. 800.
Jan 7 Received from Vinay a Cheque for Rs. 3,000.
Jan 10 Purchased a typewriter for Rs. 800 and Spend Rs. 200 on its repairs.
Jan 12 Vinay's cheque was returned dishonured.
Jan 15 Received a money order for Rs. 100 from Arjun.
Jan 20 Vinay settled his account by means of a cheque for Rs. 3,020, Rs. 20 being for interest charged.
Jan 27 Purchased machinery from Sunil for Rs. 20,000 and paid him by means of a bank draft purchased from bank for Rs. 20,020.

Answer 1

Journal

$$\begin{array}{ccccc}\text{Date}& \text{Particular}& \text{LF}& \text{Amt. (Dr)}& \text{Amt.(Cr)}\\ 2016& & & & \\ \text{Jan 1}& \text{Bank A/c}\text{Dr}& & 24,000& \\ & \text{To cash A/c}& & & 24,000\\ & \text{(Being the cash deposited into bank a nd current account opened)}& & & \\ & \underset{–}{}& & & \\ \text{Jan 2}& \text{Cash A/c}\text{Dr}& & 1,000& \\ & \text{To Sales A/c}& & & 1,000\\ & \text{(Being the goods sold for cash)}& & & \\ & \underset{–}{}& & & \\ \text{Jan 2}& \text{Bank A/c}\text{Dr}& & 1,000& \\ & \text{To Cash A/c}& & & 1,000\\ & \text{(Being the cash deposited into bank)}& & & \\ & \underset{–}{}& & & \\ \text{Jan 5}& \text{Arjun's A/c}\text{Dr}& & 800& \\ & \text{To bank A/c}& & & 800\\ & \text{(Being Arjun's account settled)}& & & \\ & \underset{–}{}& & & \\ \text{Jan 7}& \text{Bank A/c}\text{Dr}& & 3,000& \\ & \text{To Vinay's A/c}& & & 3,000\\ & \text{(Being Vinay's account settled)}& & & \\ & \underset{–}{}& & & \\ \text{Jan 10}& \text{Typerwriter A/c}\text{Dr}& & 1,000& \\ & \text{To Bank A/c(800 + 200)}& & & 1,000\\ & \text{(Being a typerwriter purchased for Rs. 800 and spend Rs. 200 on its repairs)}& & & \\ & \underset{–}{}& & & \\ \text{Jan 12}& \text{Vinay's A/c}\text{Dr}& & 3,000& \\ & \text{To bank A/c}& & & 3,000\\ & \text{(Being Vinay's cheque returned dishonoured)}& & & \\ & \underset{–}{}& & & \\ \text{Jan 15}& \text{Cash A/c}\text{Dr}& & 100& \\ & \text{To Arjun's A/c}& & & 100\\ & \text{(Being a money order of Rs. 100 received from arjun)}& & & \\ & \underset{–}{}& & & \\ \text{Jan 15}& \text{Bank A/c}\text{Dr}& & 100& \\ & \text{To cash A/c}& & & 100\\ & \text{(Being the cash deposited into bank)}& & & \\ & \underset{–}{}& & & \\ \text{Jan 20}& \text{Bank A/c}\text{Dr}& & 3,020& \\ & \text{To Vinay's A/c}& & & 3,000\\ & \text{To Interest A/c}& & & 20\\ & \text{(Being Vinay's Account settled and Rs. 20 being for interest charged)}& & & \\ & \underset{–}{}& & & \\ \text{Jan 27}& \text{Machinery A/c}\text{Dr}& & 20,000& \\ & \text{Draft Commission A/c}\text{Dr}& & 20& \\ & \text{To Bank A/c}& & & 20,020\\ & \text{(Being a machinery purchased by means of a bank draft and draft commission being paid)}& & & \\ & \underset{–}{}& & \underset{–}{}& \underset{–}{}\\ & \text{Total}& & 57,040& 57,040\\ & & & \underset{–}{}& \underset{–}{}\end{array}$$