ACCOUNTS

Basic Journal Entries

1. SS started business with Cash Rs. 1,00,000
2. Loan Taken Rs. 1,00,000 @ 8%
3. Purchase Furniture of Rs. 20,000
4. Goods Purchases : (Cash : 20,000, Sangam : 15,000)
5. Direct Wages Paid : Rs. 2,000
6. Salary Paid to Anand Rs. 8,000 & Total Salary Rs. 10,000
7. Stationery purchases Rs. 2,000
8. Advertisement Expenses : Rs. 1,000
9. Goods Sold : (Cash : 18,000, Ajinkya : 25,000, Manish : 15,000)
10. Paid to Sangam : Rs. 14,500
11. Discount received from Sangam for Balance
12. Received from Ajinkya Rs. 22,000 only
13. Investment in F.D. @ 12% Rs. 50,000 after 6 Months
14. Interest Paid on Loan Rs. 6,000
15. Bad Debts recovered from Ajinkya Rs. 2,000
16. Interest received on FD Rs. 1800 till Now
17. Depreciation @ 10% on Furniture
18. Furniture sold for Rs. 18,000
19. Cash collected from Manish 14,500 as Final settlement
20. Jio Subscription purchased of 18,000 for 3 Years on 1st Day
[A] Subscription paid
[b] Adjustment Entry
[c] Transfer Entry

CA SANKET SHAH Page 1