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How are the transactions recorded in respective journals?
Refer the transactions given below and record them in appropriate format in the respective journals.
- On May 3 − Goods worth of Rs.5700/- purchased from Ram & co.
- On May 6 − Sold merchandise worth Rs. 7300/- to N&S.
- On May 14 − Purchase merchandise worth of Rs.2800/- from B&R.
- On May 15 − Sales (credit) of goods worth of Rs.1800/- to X& Co.
- On May 16 − N&S returned goods worth of Rs.800/-
- On May 19 − Return merchandise to Ram & Co worth of Rs.650/-
- On May 21 − Furniture purchased from Mr. S of Rs.4800/-
- On May 25 − Return goods worth of Rs.760/- to B&R
- On May 28 − Machinery worth of Rs.8500/- purchased on account from DF machines
- On May 30 − X &Co returned merchandise worth of Rs.250/
Solution
The transactions for the above mentioned data are recorded in the respective journals as follows −
Purchase journal
Date |
Account credited |
Invoice |
Reference |
Amount(Rs) |
---|---|---|---|---|
03/05/2004 |
Ram & Co |
5700 |
||
14/05/2004 |
B&R |
2800 |
||
total |
8500 |
Sales journal
Date |
Account credited |
Invoice |
Reference |
Amount(Rs) |
---|---|---|---|---|
06/05/2004 |
Accounts receivable (N&S) |
7300 |
||
15/05/2004 |
Accounts receivable (X &Co) |
1800 |
||
total |
9100 |
Return inward journal
Date |
Account credited |
Invoice |
Reference |
Amount(Rs) |
---|---|---|---|---|
16/04/2004 |
Accounts receivable (N&S) |
800 |
||
30/04/2004 |
Accounts receivable (X &Co) |
250 |
||
total |
1050 |
Return outward journal
Date |
Account credited |
Invoice |
Reference |
Amount(Rs) |
---|---|---|---|---|
19/04/2004 |
Account payable (Ram & Co) |
650 |
||
25/04/2004 |
Account payable (B & B) |
760 |
||
total |
1410 |
General journal
Date |
Particulars |
Reference |
Amount(Rs) |
|
---|---|---|---|---|
Debit |
Credit |
|||
21/04/2004 |
Furniture Account payable (Mr.S) (Being furniture purchased on credit) |
4800 |
|
|
28/04/2004 |
Machinery Account payable (DF Machines) (Being furniture purchase on credit) |
8500 |
|
|
total |
13300 |
13300 |
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