Post following Transactions into Goodwill Trader's Ledger Account. 1 Jan 20 4 Jan 20 5 Jan 20 7 Jan 20 7 Jan 20 20 Jan 20 Started Business of Rs. 500000/- Purchase Machinery of Rs. 700000/- Paid Cash to Mr. Sharma Rs. 500/- Received Cash From Gupta Rs. 1500/- Sold Goods of Rs. 150000/- Cash Deposited in JSB Bank Rs. 250000/-
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Answer:
ate Particulars
L.F. Debit Credit
2019
Jan. 1 Cash A/c Dr. 50,000
To Shiva’s Loan A/c 50,000
(Being business started with loan @ 10% p.a. )
Jan. 5 Purchases A/c Dr. 5,000
To Cash A/c 5,000
(Being goods bought for cash )
Jan.12 Purchases A/c Dr. 2,700
To Rohit And Sons A/c 2,700
(Being goods bought worth Rs 3,000 @ 10% trade discount)
Jan. 12 Madan A/c Dr. 3,000
To Sale A/c 3,000
(Being goods sold on credit)
Jan. 20 Cash A/c Dr. 750
Bad debts A/c Dr. 2,250
To Bad debts recovered A/c 3,000
(Being compensation received and balance written-off as bad debts)
Jan. 25 Purchases A/c Dr. 1,000
To Nandas A/c 1,000
(Being goods returned by us)
Jan. 25 Halen A/c Dr. 1,300
To Sales A/c 1,300
(Being goods sold on credit )
Jan. 25 Return Inward A/c Dr. 390
To Halen A/c 390
(Being gods received back, previously sold)
Jan.25. Nanda A/c Dr. 300
To Return outwards A/c 300
(Being goods returned previously purchased)
Feb. 9 Horse and cart A/c Dr. 3,500
To Cash A/c 3,500
(Being horse and cart purchased for delivery of goods