Question

Pass Journal entries in the books of Raghunath Bros. from the following transactions:-

2016
June 01	Raghunath Bros. started business with cash ₹ 80,000; Goods ₹ 40,000 and furniture ₹ 20,000.
June 02	Sold goods to Nandlal of the list price of ₹ 20,000 at trade discount of 10%.
June 04	Nandlal returned goods of the list price of ₹ 4,000.
June 08	Received from Nandlal ₹ 14,150 in full settlement of his account.
June 10	Purchased goods from Brij Mohan of the list price of ₹ 10,000 at 15% trade discount.
June 13	Returned goods to Brij Mohan of the list price of ₹ 1,000.
June 16	Settled the account of Brij Mohan by paying cash, under a discount of 4%.
June 18	Purchased goods from Anil ₹ 5,000; Sunil ₹ 10,000.
June 19	Paid cash to Anil ₹ 1,900 and discount received ₹ 100.
June 20	Paid ₹ 9,800 to Sunil in full settlement of his account.
June 20	Bought a 'Table Fan' for ₹ 8,000 for the domestic use of Raghunath.
June 25	Sold goods for cash of the list price of ₹ 8,000 at 10% trade discount and 3% cash discount.
June 30	Paid Rent ₹ 8,000; Trade Expenses ₹ 7,000 and Travelling Expenses ₹ 3,800.

Answer 1

Journal In the books of Raghunath Bros.
Date	Particulars		L.F.	Debit Amount (₹)	Credit Amount (₹)
2016
June 01	Cash A/c	Dr.		80,000
	Stock A/c	Dr.		40,000
	Furniture A/c	Dr.		20,000
	To Capital A/c				1,40,000
	(started business with cash, goods and furniture)
June 02	Nandlal	Dr.		18,000
	To Sales A/c				18,000
	(goods sold to Nandlal @ 10% Trade discount)
June 04	Sales return A/c	Dr.		3,600
	To Nandlal				3,600
	(goods sold to Nandlal returned)
June 08	Cash A/c	Dr.		14,150
	Discount allowed A/c	Dr.		250
	To Nandlal				14,400
	(cash received from Nandlal in full settlement)
June 10	Purchases A/c	Dr.		8,500
	To Brij Mohan				8,500
	(purchased goods from Brij Mohan on credit)
June 13	Brij Mohan	Dr.		850
	To Purchase Return A/c				850
	(purchased goods returned by Brij Mohan)
June 16	Brij Mohan	Dr.		7,650
	To discount received A/c				306
	To Cash A/c				7,344
	(settled amount due to Brij Mohan)
June 18	Purchases A/c	Dr.		15,000
	To Anil				5,000
	To Sunil				10,000
	(credit purchase from Anil & Sunil)
June 19	Anil			2,000
	To discount received A/c				100
	To Cash A/c				1,900
	(cash paid to Anil and received discount)
June 20	Sunil	Dr.		10,000
	To discount received A/c				200
	To Cash A/c				9,800
	(cash paid to Sunil and received discount)
June 20	Drawings A/c	Dr.		8,000
	To Cash A/c				8,000
	(table fan purchased for personal use)
June 25	Cash A/c			6,984
	Discount allowed A/c			216
	To Sales A/c				7,200
	(cash sales @10% TD & @5% Cash Discount)
June 30	Rent A/c	Dr.		8,000
	Trade expenses A/c	Dr.		7,000
	Travelling A/c	Dr.		3,800
	To Cash A/c				18,800
	(expenses paid in cash)
	TOTAL			2,54,000	2,54,000