Question

Journalise the following transactions is the journal of M/s. Goel Brothers and post them to the ledger:

2017		₹
Jan.01	Started business with cash	1,65,000
Jan.02	Opened bank account in PNB	80,000
Jan.04	Goods purchased from Tara	22,000
Jan.05	Goods purchased for cash	30,000
Jan.18	Goods sold to Naman	12,000
Jan.10	Cash paid to Tara	22,000
Jan.15	Cash received from Naman	11,700
	Discount allowed	300
Jan.16	Paid wages	200
Jan.18	Furniture purchased for office use	5,000
Jan.20	Withdrawn from bank for personal use	4,000
Jan.22	Issued cheque for rent	3,000
Jan.23	Goods issued for household purpose	2,000
Jan.24	Drawn cash from bank for office use	6,000
Jan.26	Commission received	1,000
Jan.27	Bank charges	200
Jan.28	Cheque given for insurance premium	3,000
Jan.29	Paid salary	7,000
Jan.30	Cash sales	10,000

Answer 1

Books of M/S. Goel Brothers Journal
Date	Particulars	L.F.	Debit Amount Rs	Credit Amount Rs
2017
Jan.01	Cash A/c   ......Dr.		1,65,000
	To Capital A/c			1,65,000
	(Started business with cash)
Jan.02	Bank A/c   ......Dr.		80,000
	To Cash A/c			80,000
	(Bank account opened with PNB)
Jan.04	Purchase A/c  ......Dr.		22,000
	To Tara			22,000
	(Goods purchased from Tara)
Jan.05	Purchase A/c  ......Dr.		30,000
	To  Cash A/c			30,000
	(Goods purchased for cash)
Jan.08	Naman   ......Dr.		12,000
	To Sales A/c			12,000
	(Sales of goods to Naman)
Jan.10	Tara    ......Dr.		22,000
	To Cash A/c			22,000
	(Cash paid to Tara)
Jan.15	Cash A/c   ......Dr.		11,700
	Discount Allowed A/c   ......Dr.		300	12,000
	To Naman
	(Cash received from Naman and discount allowed)
Jan.16	Wages A/c  ......Dr.		200
	To Cash A/c			200
	(Wages paid)
Jan.18	Furniture A/c  ......Dr.		5,000
	To Cash A/c			5,000
	(Furniture purchased for cash)
Jan.20	Drawing A/c  ......Dr.		4,000
	To Bank A/c			4,000
	(Cash drawn from bank for personal use)
Jan.22	Rent A/c  ......Dr.		3,000
	To Bank A/c			3,000
	(Rent paid through cheque)
Jan.23	Drawing A/c  ......Dr.		2,000
	To Purchase A/c			2,000
	(Goods  drawn for household purpose)
Jan.24	Cash A/c   ......Dr.		6,000
	To Bank A/c			6,000
	(Cash drawn from bank)
Jan.26	Cash A/c   ......Dr.		1,000
	To Commission A/c			1,000
	(Commission received)
Jan.27	Bank Charges A/c ......Dr.		200
	To Bank A/c			200
	(Bank charged charges)
Jan.28	Insurance A/c ......Dr.		3,000
	To Bank A/c			3,000
	(Insurance paid through cheque)
Jan.29	Salaries A/c .....Dr.		7,000
	To Cash A/c			7,000
	(Salary paid)
Jan.30	Cash A/c   .....Dr.		10,000
	To Sales A/c			10,000
	(Cash received for sale of goods)
	Total		3,84,400	3,84,400

 

Dr.	Ledger Cash Account						Cr.
Date	Particulars	J.F.	Amount Rs.	Date	Particulars	J.F.	Amount Rs.
2017				2017
Jan.01	Capital		1,65,000	Jan.02	Bank		80,000
Jan.15	Naman		11,700	Jan.05	Purchases		30,000
Jan.24	Bank		6,000	Jan.16	Tara		22,000
Jan.26	Commission		1,000	Jan.18	Wages		200
Jan.30	Sales		10,000	Jan.29	Furniture		5,000
				Jan.31	Salaries		7,000
					Balance c/d		49,500
			1,93,700				1,93,700

 

Dr.	Capital Account						Cr.
Date	Particulars	J.F.	Amount Rs.	Date	Particulars	J.F.	Amount Rs.
2017				2017
				Jan.01	Cash		1,65,000
Jan.31	Balance c/d		1,65,000
			1,65,000				1,65,000

 

Dr.	Bank Account						Cr.
Date	Particulars	J.F.	Amount Rs.	Date	Particulars	J.F.	Amount Rs.
2017				2017
Jan.02	Cash		80,000	Jan.20	Drawing		4,000
				Jan.22	Rent		3,000
				Jan.24	Cash		6,000
				Jan.27	Bank charges		200
				Jan.28	Insurance		3,000
				Jan.31	Balance c/d		63,800
			80,000				80,000

 

Dr.	Tara's Account						Cr.
Date	Particulars	J.F.	Amount Rs.	Date	Particulars	J.F.	Amount Rs.
2017				2017
Jan..10	Cash		22,000	Jan.04	Purchases		22,000
			22,000				22,000

 

Dr.	Purchase Account						Cr.
Date	Particulars	J.F.	Amount Rs.	Date	Particulars	J.F.	Amount Rs.
2017				2017
Jan..04	Tara		22,000	Jan.23	Drawing		2,000
Jan.05	Cash		30,000	Jan.31	Balance c/d		50,000
			52,000				52,000

 

Dr.	Sale Account						Cr.
Date	Particulars	J.F.	Amount Rs.	Date	Particulars	J.F.	Amount Rs.
2017				2017
				Jan.08	Naman		12,000
Jan.31	Balance c/d		22,000	Jan.30	Cash		10,000
			22,000				22,000

 

Dr.	Naman's Account						Cr.
Date	Particulars	J.F.	Amount Rs.	Date	Particulars	J.F.	Amount Rs.
2017				2017
Jan.08	Sales		12,000	Jan.15	Cash Discount		11,700
				Jan.15	Allowed		300
			12,000				12,000

 

Dr.	Discount Allowed Account						Cr.
Date	Particulars	J.F.	Amount Rs.	Date	Particulars	J.F.	Amount Rs.
2017				2017
Jan.15	Naman		300
				Jan.31	Balance c/d		300
			300				300

 

Dr.	Wages Account						Cr.
Date	Particulars	J.F.	Amount Rs.	Date	Particulars	J.F.	Amount Rs.
2017				2017
Jan.16	Cash		200
				Jan.31	Balance c/d		200
			200				200

 

Dr.	Furniture Account						Cr.
Date	Particulars	J.F.	Amount Rs.	Date	Particulars	J.F.	Amount Rs.
2017				2017
Jan.18	Cash		5,000
				Jan.31	Balance c/d		5,000
			5,000				5,000

 

Dr.	Drawing Account						Cr.
Date	Particulars	J.F.	Amount Rs.	Date	Particulars	J.F.	Amount Rs.
2017				2017
Jan.20	Bank		4,000
Jan.23	Purchases		2,000	Jan.31	Balance c/d		6,000
			6,000				6,000

 

Dr.	Rent Account						Cr.
Date	Particulars	J.F.	Amount Rs.	Date	Particulars	J.F.	Amount Rs.
2017				2017
Jan.22	Bank		3,000
				Jan.31	Balance c/d		3,000
			3,000				3,000

 

Dr.	Commission Account						Cr.
Date	Particulars	J.F.	Amount Rs.	Date	Particulars	J.F.	Amount Rs.
2017				2017
				Jan.26	Cash		1,000
Jan.31	Balance c/d		1,000
			1,000				1,000

 

Dr.	Bank charges Account						Cr.
Date	Particulars	J.F.	Amount Rs.	Date	Particulars	J.F.	Amount Rs.
2017				2017
Jan.27	Bank		200
				Jan.31	Balance c/d		200
			200				200

 

Dr.	Insurance Account						Cr.
Date	Particulars	J.F.	Amount Rs.	Date	Particulars	J.F.	Amount Rs.
2017				2017
Jan.28	Bank		3,000
				Jan.31	Balance c/d		3,000
			3,000				3,000

 

Dr.	Salaries Account						Cr.
Date	Particulars	J.F.	Amount Rs.	Date	Particulars	J.F.	Amount Rs.
2017				2017
Jan.29	Cash		7,000
				Jan.31	Balance c/d		7,000
			7,000				7,000