Question: Question 1 (10 points) Deri is a sole trader dealing in automobiles. From the following transactions, pass journal entries for the month of January, 2018.

Question 1 (10 points) Deri is a sole trader dealing in automobiles. From the following transactions, pass journal entries for the month of January, 2018. 1 Commenced business with cash 100,000 , with goods 200,000 and with buildings 500,000 2 Purchased goods from A and Co. on credit 300,000 4 Purchased goods from B and Co. and payment made through credit card 5,000 5 Paid A and Co. through cheque 6 Sold goods to C and Co. and cheque received 50,000 8 Purchased goods from Z \& Co. and paid through debit card 12,000 9 Stationery purchased for and paid through net banking 6,000 10 Income tax of Deri is paid by cheque 10,000
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
