Question
Ms.Anisha has the following transactions in the month of July. Record them in the journal, show postings in the ledger, and balance the accounts. July1st
Ms. Anisha has the following transactions in the month of July. Record them in the journal, show postings in the ledger, and balance the accounts.
July 1st : Anisha started the business with a capital of 75,000 1st : Purchased goods from Roy on credit 25,000
2nd : Sold goods to Ram 20,000
3rd : Purchased goods from Ann 15,000 4th : Sold goods to Tanvi for cash 16,000 5th : Goods returned to Roy 2,000
6th : Bought furniture for 15,000
7th : Bought goods from Zain 12,000 8th : Cash paid to Roy 10,000
9th : Sold goods to John 13,500
10th : Goods returned from Ram 3,000 11th : Cash received from John 5,500
12th : Goods taken by Anisha for domestic use 3,000 13th : Returned Goods to Zain 1,000
14th : Cash received from Ram 12,000 15th : Bought machinery for 18,000
16th : Sold part of the furniture for 1,000
17th : Cash paid for the purchase of bicycle for Anisha's son 1,500
19th : Cash sales 15,000
20th : Cash purchases 13,500
Step by Step Solution
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Step: 1
Solution Here are the journal entries ledger accounts and trial balance for the transactions Journal Entries July 1 Capital Ac Dr 75000 To Anisha Cr 75000 July 1 Roy Ac Dr 25000 To Purchase Ac Cr 2500...Get Instant Access to Expert-Tailored Solutions
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Step: 2
Step: 3
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