3. Journalise the following transactions in the Journal of Rakesh, Delhi and post them to the Ledger:

2024
March 01 Started business with cash 2,00,000
March 02 Opened bank account with SBI 80,000
March 04 Goods purchased from Raj 22,000
March 05 Goods purchased for cash 30,000
March 08 Goods sold to Naman 12,000
March 10 Cash paid to Raj 22,000
March 15 Cash received from Naman 11,700
Discount allowed 300
March 16 Paid wages 200
March 18 Furniture purchased for office use 5,000
March 20 Withdrawn from bank for personal use 4,000
March 23 Goods taken for personal purpose. These goods were purchased from Raj 2,000
March 24 Drawn cash from bank for office use 6,000
March 26 Commission received 1,000
March 27 Bank charges 300
March 28 Cheque issued for life insurance premium of proprietor 3,000
March 29 Paid salary 10,000
March 30 Cash sales 20,000

  T.S.Grewal/2024 Edition/Practical Problems/Q-03

For full question, please refer to the text book T.S.Grewal’s Double Entry Book Keeping-Financial Accounting, Textbook for CBSE Class XI published by Sultan Chand & Sons Pvt. Ltd.

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