Best Buy Electronics

Transactions in the books of Best Buy Electronics for the month of December, 2021

1. December 2, 2021
Commenced Business with cash Rs 50,00,000

2. December 2, 2021
Deposited cash in bank Rs 40,00,000

3. December 3, 2021
Purchased Stock worth Rs 15,00,000 paid by cheque
Refrigerator 5,00,000
T.V 4,00,000
Phones 3,00,000
Washing Machine 3,00,000

4. December 4, 2021
Purchased Computer for Office use worth Rs 50,000 paid by cheque

5. December 5, 2021
Goods sold for cash worth Rs 5,00,000 for Rs 6,00,000

6. December 6, 2021
Goods sold to Mohan & brothers worth Rs 6,00,000 for Rs 8,00,000 and allowed
10% TD

7. December 7, 2021
Purchased Furniture worth 2,00,000, paid by cheque

8. December 10, 2021

Received Cheque from Mohan & Brothers of Rs 7,20,000, deposited into bank
the same day .

9. December 11, 2021

Goods Purchased from Dinesh & co. worth Rs 10,00,000 at 15% T.D
10. December 14, 2021
Rent Paid Rs 50,000

11. December 15, 2021

Paid Dinesh & Co. Rs 8,50,000 by cheque, account settled

12. December 18, 2021

Paid Salary in Cash Rs 25,000

13. December 20, 2021

Cash Withdrawn for personal use Rs 40,000

14. December 21, 2021

Paid Commission in cash Rs 10,000

15. December 22, 2021

Paid Electricity Bill Rs 15,000
And Carriage Rs 10,000

16. December 24, 2021

Insurance Premium paid by cheque Rs 30,000

17. December 25, 2021

Sold Goods to Rakesh worth Rs 2,00,000 for Rs 2,50,000

18. December 28, 2021

Purchased delivery Van for Rs 4,00,000

19. December 29, 2021

Paid Store Maintenance Rs 10,000 in Cash

20. December 30, 2021

Paid Fuel Expenses Rs 5,000 in Cash
 Journal Entries in the book of Best Buy Electronics’

Date Particular L/F Amount Amount

01 Dec Cash A/c Dr. 50,00,000
2021 To Capital A/c 50,00,000
(Being Business started with cash)
02 Dec Bank A/c Dr. 40,00,000
2021 To Cash A/c 40,00,000
(Being cash deposited into bank)
03 Dec Purchase A/c Dr. 15,00,000
2021 To Bank A/c 15,00,000
(Being goods purchase & amount paid by cheque)
04 Dec Computer A/c Dr. 50,000
2021 To Bank A/c 50,000
(Being computer purchased by cheque)
05 Dec Cash A/c Dr. 6,00,000
2021 To Sales A/c 6,00,000
(Being good sold for cash)
06 Dec Mohan & Brother’s Dr. 7,20,000
2021 To Sales A/c 7,20,000
(Being goods sold to Mohan & Bro. at 10% trade
discount)
07 Dec Furniture A/c Dr. 2,00,000
2021 To Bank A/c 2,00,000
(Being Furniture Purchase by cheque)
10 Dec Bank A/c Dr. 7,20,000
2021 To Mohan & Bro. 7,20,000
(Being cheque received from Mohan & brothers
Rs.7,20,000 and deposited into bank same day)
11 Dec Purchase A/c Dr. 8,50,000
2021 To Dinesh & Co. 8,50,000
(Being goods purchased on credit from Dinesh & Co.
At 15% trade discount)
14 Dec Rent A/c Dr. 50,000
2021 To Cash A/c 50,000
(Being Rent Paid)
15 Dec Dinesh & Co. Dr. 8,50,000
2021 To Bank A/c 8,50,000
(Being creditors amount paid by cheque)
TOTAL B/D 14,540,000 14,540,000
 Total C/D 14,540,000 14,540,000
18 Dec Salary A/c Dr. 25,000
2021 To Cash A/c 25,000
(Being Salary Paid in cash)
20 Dec Drawing A/c Dr. 40,000
2021 To Cash A/c 40,000
(Being Cash Withdrawn for personal use)
21 Dec Commission A/c Dr. 10,000
2021 To Cash A/c 10,000
(Being Commission paid in cash)
22 Dec Electricity Bill A/c Dr. 15,000
2021 Carriage A/c Dr. 10,000
To Cash A/c 25,000
(Being Electricity Bill & Carriage paid)
24 Dec Insurance Premium A/c Dr. 30,000
2021 To Bank A/c 30,000
(Being insurance premium paid by cheque)
25 Dec Rakesh Dr. 2,50,000
2021 To Sales A/c 2,50,000
(Being goods sold on credit to Rakesh)
28 Dec Delivery Ven A/c Dr. 4,00,000
2021 To Cash A/c 4,00,000
(Being purchased delivery van for cash)
29 Dec Store Maintenance A/c Dr. 10,000
2021 To Cash A/c 10,000
(Being store maintenance paid in cash)
30 Dec Fuel Expense’s A/c Dr. 5,000
2021 To Cash A/c 5,000
TOTAL OF JOURNAL 15,355,000 15,355,000

Ledger Entries in the book of Best Buy Electronics’

Cash A/c

Date Particular J/F Amount Date Particular J/F Amount

1 Dec To capital 50,00,000 2 Dec By Bank 40,00,000
5 Dec To Sales 6,00,000 14 Dec By Rent 50,000
18 Dec By Salary 25,000
20 Dec By Drawing 40,000
21 Dec By Commission 10,000
22 Dec By Elec. Bill 15,000
22 Dec By Carriage 10,000
 28 Dec By Delivery Ven 4,00,000
29 Dec By Store Main. 10,000
30 Dec By Fuel Expense 5,000
31 Dec By Balance C/d 10,35,000
56,00,000 56,00,000

Bank A/c

Date Particular J/F Amount Date Particular J/F Amount

2 Dec To cash 40,00,000 3 Dec By Purchase 15,00,000
10 Dec To Mohan & Bro. 7,20,000 4 Dec By Computer 50,000
7 Dec By Furniture 7,00,000
15 Dec By Dinesh & Co. 8,50,000
24 Dec By Insurance Pre. 30,000
31 Dec By Balance C/d 15,90,000
47,20,000 47,20,000

Capital A/c

Date Particular J/F Amount Date Particular J/F Amount

31 Dec To balance C/d 50,00,000 01 Dec By Cash 50,00,000
50,00,000 50,00,000

Purchase A/c

Date Particular J/F Amount Date Particular J/F Amount

3 Dec To Bank 15,00,000 31 Nov By balance C/d 23,50,000
11 Dec To Dinesh & Co. 8,50,000
23,50,000 23,50,000

Computer A/c

Date Particular J/F Amount Date Particular J/F Amount

04 Dec To Bank 50,000 31 Dec By balance C/d 50,000
50,000 50,000

Sale’s A/c

Date Particular J/F Amount Date Particular J/F Amount

31 Dec To balance C/d 15,70,000 5 Dec By cash 6,00,000
 6 Dec By Mohan & bro. 7,20,000
25 Dec By Rakesh 2,50,000
15,70,000 15,70,000

Mohan & Brother’s A/c

Date Particular J/F Amount Date Particular J/F Amount

6 Dec To Mohan & bro. 7,20,000 10 Dec By Bank 7,20,000
7,20,000 7,20,000

Furniture A/c

Date Particular J/F Amount Date Particular J/F Amount

7 Dec To Bank 2,00,000 31 Dec By Balance C/d 2,00,000
2,00,000 2,00,000

Dinesh & Co. A/c

Date Particular J/F Amount Date Particular J/F Amount

15 dec To Bank 8,50,000 11 Dec By Purchase 8,50,000
8,50,000 8,50,000

Rent A/c

Date Particular J/F Amount Date Particular J/F Amount

14 Dec To Cash 50,000 31 Dec By Balance C/d 50,000
50,000 50,000

Salary A/c

Date Particular J/F Amount Date Particular J/F Amount

18 Dec To Cash 25,000 31 Dec By Balance C/d 25,000
25,000 25,000

Drawing A/c

Date Particular J/F Amount Date Particular J/F Amount

20 Dec To Cash 40,000 31 Dec By Balance C/d 40,000
40,000 40,000
 Commission A/c

Date Particular J/F Amount Date Particular J/F Amount

21 Dec To Cash 20,000 31 Dec By Balance C/d 20,000
20,000 20,000

Electricity Bill A/c

Date Particular J/F Amount Date Particular J/F Amount

22 Dec To Cash 15,000 31 Dec By Balance C/d 15,000
15,000 15,000

Carriage A/c

Date Particular J/F Amount Date Particular J/F Amount

22 Dec To Cash 10,000 31 Dec By Balance C/d 10,000
10,000 10,000

Insurance Premium A/c

Date Particular J/F Amount Date Particular J/F Amount

24 Dec To Bank 30,000 31 Dec By Balance C/d 30,000
30,000 30,000

Rakesh A/c

Date Particular J/F Amount Date Particular J/F Amount

25 Dec To Sales 2,50,000 31 Dec By Balance C/d 2,50,000
2,50,000 2,50,000

Delivery Van A/c

Date Particular J/F Amount Date Particular J/F Amount

28 Dec To Cash 4,00,000 31 Dec By Balance C/d 4,00,000
4,00,000 4,00,000
 Store Maintenance A/c

Date Particular J/F Amount Date Particular J/F Amount

29 Dec To Cash 10,000 31 Dec By Balance C/d 10,000
10,000 10,000

Fuel Expense’s A/c

Date Particular J/F Amount Dat Particular J/F Amount

e
30 Dec To Cash 5,000 31 By Balance C/d 5,000
Dec
5,000 5,000

Trial Balance in the Book of Best Buy Electronics

As on 31st December 2021

Name of Accounts L/F Debit Balance Credit Balance

Amount Amount
Cash Account 10,35,000
Bank 15,90,000
Capital 50,00,000
Purchase 23,50,000
Computer 50,000
Sales 15,70,000
Furniture 2,00,000
Rent 50,000
Salary 25,000
Drawing
Commission 20,000
Electricity bill 15,000
Carriage 10,000
Insurance premium 30,000
Debtors 2,50,000
Delivery Van 4,00,000
Store Maintenance 10,000
Fuel Expenses 5,000
60,40,000 65,70,000