Journal Entries | Numerical Problems Part - 1 | Account

Journal entries

 Following transactions are provided to you:

Jan 1  Business started with cash Rs. 20,000.
Jan 3 Goods purchased for cash Rs. 10,000. 
Jan 7 Furniture purchased for cash Rs. 5,000.
Jan 9 Cash paid to supplier Rs. 3,000.
Required: Journal entries.



 DateAccount Titles and Explanation PR  Debit (Rs.)Credit (Rs.) 
 Jan1 Cash a/c                           Dr.
      To capital a/c
(Being business started with cash)                       
  20,00020,000 
 Jan3 Purchased a/c                  Dr.
     To cash a/c
(Being goods purchased on cash) 
  10,00010,000 
 Jan7 Furniture a/c                    Dr.
     To cash a/c
(Being furniture purchased on cash)     
  5,000 5,000
 Jan9 Creditors a/c                    Dr.
     To cash a/c
( being cash paid to supplier)
  3,000 3,000

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