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Journal 8.5
Solution: In the Books of Gupta Bros.
JOURNAL
Date Particulars L.F. Dr. (`) Cr. (`)
2024
March 1 Cash A/c ...Dr. 30,000
Stock A/c ...Dr. 15,000
Furniture A/c ...Dr. 20,000
To Capital A/c 65,000
(Business started with cash, goods and furniture)
March 2 Bank A/c ...Dr. 20,000
To Cash A/c 20,000
(Cash paid into bank)
March 3 Purchases A/c ...Dr. 7,000
To Mohan Bros. 7,000
(Goods purchased from Mohan Bros.)
March 4 Goyal Bros. ...Dr. 6,000
To Sales A/c 6,000
(Goods sold to Goyal Bros.)
March 5 Vehicle A/c ...Dr. 10,000
To Cash A/c 10,000
(Vehicle purchased for delivering goods to customers)
March 7 Cash A/c ...Dr. 3,000
Commission Paid A/c ...Dr. 150
To Sales A/c 3,150
(Cash received from salesman after deducting
commission)
March 9 Drawings A/c ...Dr. 800
To Bank A/c 800
(Cheque drawn out of bank for personal use)
March 10 Bank A/c ...Dr. 6,000
To Goyal Bros. 6,000
(Cheque received from Goyal Bros., deposited in bank)
March 11 Mohan Bros. ...Dr. 7,000
To Bank A/c 6,700
To Discount Received A/c 300
(Payment made by cheque and discount received)
March 13 Repairs A/c ...Dr. 200
To Cash A/c 200
(Amount paid for repairs of furniture)
Total c/f 1,25,150 1,25,150