Page 36 - DEBK-XI(2020)

Journal 8.5

Solution: In the Books of Gupta Bros.
JOURNAL
Date Particulars L.F. Dr. (`) Cr. (`)

2020
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
(Being the business started with cash, goods and furniture)
March 2 Bank A/c ...Dr. 20,000
To Cash A/c 20,000
(Being the cash paid into bank)
March 3 Purchases A/c ...Dr. 7,000
To Mohan Bros. 7,000
(Being the goods purchased from Mohan Bros.)
March 4 Goyal Bros. ...Dr. 6,000
To Sales A/c 6,000
(Being the goods sold to Goyal Bros.)
March 5 Vehicle A/c ...Dr. 10,000
To Cash A/c 10,000
(Being a 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
(Being the cash received from salesman after deducting
commission)
March 9 Drawings A/c ...Dr. 800
To Bank A/c 800
(Being the cheque drawn out of bank for personal use)
March 10 Bank A/c ...Dr. 6,000
To Goyal Bros. 6,000
(Being the 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
(Being the payment made by cheque and discount received)

March 13 Repairs A/c ...Dr. 200
To Cash A/c 200
(Being the amount paid for repairs of furniture)
Total c/f 1,25,150 1,25,150