Deri is a sole trader dealing in automobiles. From the following transactions, pass journal entries for the month of January, 2018. 1 Commenced business with cash 100,000, with goods 200,000 and with buildings 500,000 2 Purchased goods from A and 300,000 Co. on credit 4 Purchased goods from B and Co. and payment made through credit card 5,000 Paid A and Co. through cheque Sold goods to C and Co. and cheque received 50,000 8 Purchased goods from Z & Co. and paid through debit card 12,000 5 6 9 Stationery purchased for and paid through net banking 6,000 10 Income tax of Deri is paid by 10,000 cheque

Deri is a sole trader dealing in automobiles. From the following transactions, pass journal entries for the month of January, 2018. 1 Commenced business with cash 100,000, with goods 200,000 and with buildings 500,000 2 Purchased goods from A and 300,000 Co. on credit 4 Purchased goods from B and Co. and payment made through credit card 5,000 Paid A and Co. through cheque Sold goods to C and Co. and cheque received 50,000 8 Purchased goods from Z & Co. and paid through debit card 12,000 5 6 9 Stationery purchased for and paid through net banking 6,000 10 Income tax of Deri is paid by 10,000 cheque

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 5EB: Review the following transactions and prepare any necessary journal entries for Lands Inc. A. On...

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