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Question
Fill in the blank:
Every Journal Entry requires ________.
Solution
Every Journal entry require narration.
Explanation:
- Narration is a brief explanation of a transaction, together with necessary details that are provided with the journal entry, which helps to understand the account which is to be debited or credited.
- Thus, a narration is necessary for each and every journal entry, as it provides the details of the journal entry and helps understand the entry.
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Recording of transaction in Journal is called ______.
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Every Journal entry require ______.
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The process of recording transaction into journal is called _________
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An explanation of the transaction recorded in the journal _________
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___________ discount is not recorded in the books of accounts.
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___________ is concession allowed for bulk purchase of goods or for immediate payment.
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___________ discount is always recorded in the books of accounts.
Correct the following statement and rewrite the statement:
All business transactions are recorded in the Journal.
Correct the following statement and rewrite the statement:
Machinery purchased by the Proprietor decreases his capital
Do you agree or disagree with following statement:
Trade discount is not recorded in the books of accounts.
Journalise the following transactions in the books of Anand General Merchants.
| 2019 April |
|
| 1 | Mr. Anand started the business with cash of ₹ 60,000. |
| 5 | Purchased goods for cash ₹ 30,000. |
| 7 | Sold goods of ₹ 10,000 to Suresh. |
| 10 | Purchased Furniture from Mr. Govind on credit ₹ 30,000. |
| 15 | Paid for Rent ₹ 3000 and paid by debit card. |
| 21 | Purchased goods from Urmila on credit ₹ 70,000. |
| 27 | Paid for Transport ₹ 1,000 to United Transport. |
| 30 | Paid to Urmila ₹ 20,000 on behalf of Sharmila. |
Journalise the following transactions in the books of Anand General Merchants.
| 2019 April | Transactions |
| 1 | Mr. Anand started the business with cash of ₹ 60,000. |
| 5 | Purchased goods for cash ₹ 30,000. |
| 7 | Sold goods of ₹ 10,000 to Suresh. |
| 10 | Purchased Furniture from Mr. Govind on credit ₹ 30,000. |
| 15 | Paid for Rent ₹ 3000 and paid by debit card. |
| 21 | Purchased goods from Urmila on credit ₹ 70,000. |
| 27 | Paid for Transport ₹ 1,000 to United Transport. |
| 30 | Paid to Urmila ₹ 20,000 on behalf of Sharmila. |
Journalise the following transactions in the books of Anand General Merchants.
| 2019 | ||
| April | 1 | Mr. Anand started the business with cash ₹ 60,000. |
| 5 | Purchased goods for cash ₹ 30,000. | |
| 7 | Sold goods of ₹ 10,000 to Suresh. | |
| 10 | Purchased Furniture from Mr. Govind on credit ₹ 30,000. | |
| 15 | Paid for Rent ₹ 3000 and paid by debit card. | |
| 21 | Purchased goods from Urmila on credit ₹ 70,000. | |
| 27 | Paid for Transport ₹ 1,000 to United Transport. | |
| 30 | Paid to Urmila ₹ 20,000 on behalf of Sharmila |
Journalise the following transactions in the books of Anand General Merchants.
| 2019 April | |
| 1 | Mr. Anand started business with cash ₹ 60,000. |
| 5 | Purchased goods for cash ₹ 30,000. |
| 7 | Sold goods of ₹ 10,000 to Suresh. |
| 10 | Purchased Furniture from Mr. Govind on credit ₹ 30,000. |
| 15 | Paid for Rent ₹ 3000 and paid by debit card. |
| 21 | Purchased goods from Urmila on credit ₹ 70,000. |
| 27 | Paid for Transport ₹ 1,000 to United Transport. |
| 30 | Paid to Urmila ₹ 20,000 on behalf of Sharmila. |
Journalise the following transactions in the books of Anand General Merchants.
| 2019 April |
|
| 1 | Mr. Anand started the business with cash of ₹ 60,000. |
| 5 | Purchased goods for cash ₹ 30,000. |
| 7 | Sold goods of ₹ 10,000 to Suresh. |
| 10 | Purchased Furniture from Mr. Govind on credit ₹ 30,000. |
| 15 | Paid for Rent ₹ 3000 and paid by debit card. |
| 21 | Purchased goods from Urmila on credit ₹ 70,000. |
| 27 | Paid for Transport ₹ 1,000 to United Transport. |
| 30 | Paid to Urmila ₹ 20,000 on behalf of Sharmila. |
Journalise the following transactions in the books of Anand General Merchants.
| 2019 April | |
| 1 | Mr. Anand started business with cash ₹ 60,000. |
| 5 | Purchased goods for cash ₹ 30,000. |
| 7 | Sold goods of ₹ 10,000 to Suresh. |
| 10 | Purchased Furniture from Mr. Govind on credit ₹ 30,000. |
| 15 | Paid for Rent ₹ 3000 and paid by debit card. |
| 21 | Purchased goods from Urmila on credit ₹ 70,000. |
| 27 | Paid for Transport ₹ 1,000 to United Transport. |
| 30 | Paid to Urmila ₹ 20,000 on behalf of Sharmila. |
