Question
Journalize the following transactions in the books of Gaurav, post them into ledger and prepare trial balance for June 2015 : June 1: Gaurav started
Journalize the following transactions in the books of Gaurav, post them into ledger and prepare
trial balance for June 2015 :
June 1: Gaurav started business with Rs. 10,00,000 of which 25% amount was borrowed from wife.
June 4: Purchased goods from Aniket worth Rs. 40,000 at 20% Trade Discount and 1/5th amount paid
in cash.
June 7: Cash purchases Rs. 25,000.
June 10: Sold goods to Vishakha Rs.30,000 at 30% Trade Discount and received 30% amount in cash.
June 12: Deposited cash into bank Rs. 20,000.
June 15: Uninsured goods destroyed by fire Rs. 5,500.
June 19: Received commission Rs. 3,500.
June 22: Paid to Aniket Rs. 25,500 in full settlement of A/c.
June 25: Cash stolen from cash box Rs. 1,000.
June 27: Received from Vishakha Rs. 14,500 and discount allowed Rs. 200.
June 30: Interest received Rs. 2,400 directly added in our bank account
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started