PREPARATION OF JOURNAL

Problem No. 1 Journalise the following transactions in the books of Sumit 2011 Jan 1 Sumit started business with cash 1,00,000 2 Paid into bank 60,000 3 Bought goods from Mohan on credit 20,000 4 Purchased Furniture 2,000 computer 20,000

Jan 6 Paid for Postage 150 8 Sold goods for cash 4000 9 Sold goods on credit to Manish 10,000 15 Paid to Mohan 19,500 Discount allowed by him 500 25 Sold goods to Ray & co. 5,600 26 Received cheque from Manish in full settlement of his debt 9,750 31 Paid for electricity charges 100 Paid rent by cheque 2000

Solution
In the books of Mr. Sumit Journal

DATE

PARTICULARS

L.F

DEBIT

CREDIT

2011
Jan 1

Cash a/c Dr To Smiths Capital a/c (Being business started with cash)

1,00,000 1,00,000

In the books of Mr. Sumit Journal

DATE

PARTICULARS

L.F

DEBIT

CREDIT

2011
Jan 2

Bank a/c Dr To Cash a/c (Being cash deposited into cash) Purchase a/c Dr To Mohan a/c (Being goods purchased on credit)

60,000 60,000

20,000 20,000

Jan 3

In the books of Mr. Sumit Journal

DATE 2011

PARTICULARS

L.F

DEBIT

CREDIT

In the books of Mr. Sumit Journal

DATE 2011

PARTICULARS

L.F

DEBIT

CREDIT

In the books of Mr. Sumit Journal

DATE 2011

PARTICULARS

L.F

DEBIT

CREDIT

In the books of Mr. Sumit Journal

DATE 2011

PARTICULARS

L.F

DEBIT

CREDIT

In the books of Mr. Sumit Journal

DATE 2011

PARTICULARS

L.F

DEBIT

CREDIT

In the books of Mr. Sumit Journal

DATE 2007

PARTICULARS

L.F

DEBIT

CREDIT

In the books of Mr. Sumit Journal

DATE
2011

PARTICULARS

L.F

DEBIT

CREDIT