1.

Give journal entries of M/s. Mohit traders; post them to the Ledger from the following transactions: August, 2017 Rs 1 Commenced business with cash 1,10,000 2 Opened bank account with H.D.F.C. 50,000 3 Purchased furniture 20,000 7 Bought goods for cash from M/s. Rupa Traders 30,000 8 Purchased good from M/s. Hema Traders 42,000 10 Sold goods for cash 30,000 14 Sold goods on credit to M/s. Gupta Traders 12,000 16 Rent paid 4,000 18 Paid trade expenses 1,000 20 Received cash from Gupta Traders 12,000 22 Goods return to Hema Traders 2,000 23 Cash paid to Hema Traders 40,000 25 Bought postage stamps 100 30 Paid salary to Rishabh 4,000

Answer»

Give journal entries of M/s. Mohit traders; post them to the Ledger from the following transactions:




















































































August, 2017





Rs



1



Commenced business with cash



1,10,000



2



Opened bank account with H.D.F.C.



50,000



3



Purchased furniture



20,000



7



Bought goods for cash from M/s. Rupa Traders



30,000



8



Purchased good from M/s. Hema Traders



42,000



10



Sold goods for cash



30,000



14



Sold goods on credit to M/s. Gupta Traders



12,000



16



Rent paid



4,000



18



Paid trade expenses



1,000



20



Received cash from Gupta Traders



12,000



22



Goods return to Hema Traders



2,000



23



Cash paid to Hema Traders



40,000



25



Bought postage stamps



100



30



Paid salary to Rishabh



4,000









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