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Journal                                                                        8.15

                      6. Journalise the following transactions in the books of Gupta Bros., Lucknow (UP):

                     2024                                                                            `
                     March  1  Started business with cash ` 30,000; goods worth ` 15,000 and furniture worth ` 20,000
                     March  2  Paid into bank                                                      20,000
                     March  3  Bought goods from Mohan Bros., Lucknow                               7,000
                     March  4  Sold goods to Goyal Bros., Kanpur                                    6,000
                     March  5  Bought a computer against cheque                                    20,000
                     March  7  Received from salesman for goods sold by him after deducting conveyance expenses ` 150   2,850
                     March  10  Goyal Bros. gave cheque; deposited in the bank                      6,000
                     March  11  Paid to Mohan Bros. by cheque                                       6,700
                             Discount allowed by him                                                 300
                     March  13  Received an order for goods along with advance of ` 1,000 in cash from Mahesh   5,000
                     March  15  Interest received from bank                                          400
                     March  20  Bank intimates that the cheque of Goyal Bros. is returned dishonoured
                     March  22  Paid rent by cheque                                                 6,000
                     March  23  Salaries for the month of February remains unpaid                  30,000
                     Solution:                      JOURNAL OF GUPTA BROS.
                     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., Lucknow)

                     March  4  Goyal Bros.                                   ...Dr.       6,000
                                To  Sales A/c                                                       6,000
                             (Goods sold to Goyal Bros., Kanpur)
                     March  5  Computer A/c                                  ...Dr.       20,000
                                To  Bank A/c                                                       20,000
                             (Computer purchased against cheque)
                     March  7  Cash A/c                                      ...Dr.       2,850
                             Conveyance Expenses A/c                         ...Dr.         150
                                To  Sales A/c                                                       3,000
                             (Cash received from salesman after deducting conveyance expenses)
                     March  10  Bank A/c                                     ...Dr.       6,000
                                To  Goyal Bros.                                                     6,000
                             (Cheque received from Goyal Bros. deposited in bank)
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