Journalise the following transactions in the books of Mr. Sneh. Post them to ledger and balance the accounts and Trial Balance. 2019 Jan. 1. Commenced business with cash 50,000/- 1. Purchased goods from Nikhil 10,000/- 2. Opened a Bank a/c by depositing 10,000/- 5. Purchased goods for Cash 12,000/- 8. Purchased furniture 5,000/- 10. Cash sales 10,000/- 15. Purchased goods on credit from Sandesh 18,000/- 20. Sold goods to Prabhakar on credit * 8,000/- 25. Credit sales to Makrand 15,000/- 28. Received 6,000/- from Prabhakar on account. 29. Received a cross cheque from Makrand 10,000/- 31. Paid Salaries for the month of January 5,000/-​

Answers 1

Answer:

2019 Jan 1 cash account debit 50000

to capital account 50000

(commenced business with cash)

purchases account debit 10000

to Nikhil 10000

(purchased goods from Nikhil)

Bank account debit 10000

to cash account 10000

( opened a bank account by depositing 10000)

purchase account debit 12000

to cash account 12000

(purchased goods for cash)

8 furniture account debit 5000

to bank 5000

(purchased furniture on credit)

9 cash debit 10000

to sales 10000

( cash sales)

Purchase account debit 18000

To Sandesh 18000

( purchased goods from Sandesh on credit)

Prabhakar Debit 8000

to sales 8000

( sold goods to Prabhakar on credit)

Makrand Debit 15000

to sales 15000

( sold goods to Makrand on credit)

Cash / Bank account debit 6000

To Prabhakar 6000

( received 6000 from Prabhakar)

Bank account debit 10000

to Makrand 10000

Salary account debit 5000

to bank 5000

(paid salaries for the month of January)

Now in ledger account those things which are debited , In their account the things which are credited will come on debit side.

For example in cash account, capital account will come as to capital account and similarly all cash transactions will come in cash account.

Similarly in capital account , cash account will come as by cash account in credit side.

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