Q) The following are the transactions of ABC Ltd. Based on the following transactions prepare journal...

 

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Q) The following are the transactions of ABC Ltd. Based on the following transactions prepare journal entries. 2018 April 2 Started business with Rs 1,00,000: paid into Bank Rs. 50,000 3 Bought furniture for cash, Rs. 5,000. 5 Bought goods for Rs. 30,000 6 Sold goods for cash, Rs. 6,000. 10 Bought printers for Rs. 18,000 from Canon Printers Co., on credit. 13 Sold goods to M/s. Anand & Sons for Rs. 10,000 on credit. 15 Bought goods from M/s Manish & Co. for Rs. 20,000 on credit. 18 Paid Internet charges Rs.2,400 for one year 22 Paid Rs. 1,000 for advertisement 26 Sold goods to M/s Sumit & Co. for Rs. 8,000 for cash 30 Paid Salaries Rs. 2,000 30 Paid rent Rs. 1,000 30 Withdrew from bank Rs. 3000 for private use 30 Bought one delivery truck for Rs.10,00,000 from Tata Motor Co., payment to be made by monthly instalments of Rs. 1,00,000. First instalment paid by cheque. Please write the journal entries Q) The following are the transactions of ABC Ltd. Based on the following transactions prepare journal entries. 2018 April 2 Started business with Rs 1,00,000: paid into Bank Rs. 50,000 3 Bought furniture for cash, Rs. 5,000. 5 Bought goods for Rs. 30,000 6 Sold goods for cash, Rs. 6,000. 10 Bought printers for Rs. 18,000 from Canon Printers Co., on credit. 13 Sold goods to M/s. Anand & Sons for Rs. 10,000 on credit. 15 Bought goods from M/s Manish & Co. for Rs. 20,000 on credit. 18 Paid Internet charges Rs.2,400 for one year 22 Paid Rs. 1,000 for advertisement 26 Sold goods to M/s Sumit & Co. for Rs. 8,000 for cash 30 Paid Salaries Rs. 2,000 30 Paid rent Rs. 1,000 30 Withdrew from bank Rs. 3000 for private use 30 Bought one delivery truck for Rs.10,00,000 from Tata Motor Co., payment to be made by monthly instalments of Rs. 1,00,000. First instalment paid by cheque. Please write the journal entries

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Journal Entries Date Account Title and Explanations Debit Rs Credit Rs Cash 100000 2... View the full answer