1.

Pass Journal entries in the books of Raghunath Bros. from the following transactions:- 2016 June 01 Raghunath Bros. started business with cash ₹ 80,000; Goods ₹ 40,000 and furniture ₹ 20,000. June 02 Sold goods to Nandlal of the list price of ₹ 20,000 at trade discount of 10%. June 04 Nandlal returned goods of the list price of ₹ 4,000. June 08 Received from Nandlal ₹ 14,150 in full settlement of his account. June 10 Purchased goods from Brij Mohan of the list price of ₹ 10,000 at 15% trade discount. June 13 Returned goods to Brij Mohan of the list price of ₹ 1,000. June 16 Settled the account of Brij Mohan by paying cash, under a discount of 4%. June 18 Purchased goods from Anil ₹ 5,000; Sunil ₹ 10,000. June 19 Paid cash to Anil ₹ 1,900 and discount received ₹ 100. June 20 Paid ₹ 9,800 to Sunil in full settlement of his account. June 20 Bought a 'Table Fan' for ₹ 8,000 for the domestic use of Raghunath. June 25 Sold goods for cash of the list price of ₹ 8,000 at 10% trade discount and 3% cash discount. June 30 Paid Rent ₹ 8,000; Trade Expenses ₹ 7,000 and Travelling Expenses ₹ 3,800.

Answer»

Pass Journal entries in the books of Raghunath Bros. from the following transactions:-






























































2016
June 01 Raghunath Bros. started business with cash ₹ 80,000; Goods ₹ 40,000 and furniture ₹ 20,000.
June 02 Sold goods to Nandlal of the list price of ₹ 20,000 at trade discount of 10%.
June 04 Nandlal returned goods of the list price of ₹ 4,000.
June 08 Received from Nandlal ₹ 14,150 in full settlement of his account.
June 10 Purchased goods from Brij Mohan of the list price of ₹ 10,000 at 15% trade discount.
June 13 Returned goods to Brij Mohan of the list price of ₹ 1,000.
June 16 Settled the account of Brij Mohan by paying cash, under a discount of 4%.
June 18 Purchased goods from Anil ₹ 5,000; Sunil ₹ 10,000.
June 19 Paid cash to Anil ₹ 1,900 and discount received ₹ 100.
June 20 Paid ₹ 9,800 to Sunil in full settlement of his account.
June 20 Bought a 'Table Fan' for ₹ 8,000 for the domestic use of Raghunath.
June 25 Sold goods for cash of the list price of ₹ 8,000 at 10% trade discount and 3% cash discount.
June 30 Paid Rent ₹ 8,000; Trade Expenses ₹ 7,000 and Travelling Expenses ₹ 3,800.


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