9(B). Pass the necessary Journal entries in the books of Shyam-2016Jan

1.	9(B). Pass the necessary Journal entries in the books of Shyam-2016Jan: 1Shyam started business with 20,000 borrowed from his friend Ravi.Jan. 3Bought goods from Mohinder for cash of invoice price worth 3,000 at a trade discount of 15cash discount 10%.Jan. 4 Bought goods from Kirmani worth 3,000.Jan. 8 Sold goods to Vishwanath of invoice price worth 4,000 allowing 20% trade discount and 109discount. He paid half in cash.Jan. 9 Withdrew for personal use :Cash 100, Goods 200.Jan. 14Goods returned to Virmani worth 500.Jan. 25 Paid salaries 200.Jan, 25Goods worth 100 given away as charity.Jan. 28 Purchased furniture from Madanlal worth 800.Jan 22Paid rent of the shop 100.
Answer» Answer: Cash A/c. DR. 100000 To capital A/c. 80000 To MR RATAN. 20000

9(B). Pass the necessary Journal entries in the books of Shyam-2016Jan: 1Shyam started business with 20,000 borrowed from his friend Ravi.Jan. 3Bought goods from Mohinder for cash of invoice price worth 3,000 at a trade discount of 15cash discount 10%.Jan. 4 Bought goods from Kirmani worth 3,000.Jan. 8 Sold goods to Vishwanath of invoice price worth 4,000 allowing 20% trade discount and 109discount. He paid half in cash.Jan. 9 Withdrew for personal use :Cash 100, Goods 200.Jan. 14Goods returned to Virmani worth 500.Jan. 25 Paid salaries 200.Jan, 25Goods worth 100 given away as charity.Jan. 28 Purchased furniture from Madanlal worth 800.Jan 22Paid rent of the shop 100.

Answer»

Answer:

Cash A/c. DR. 100000 To capital A/c. 80000 To MR RATAN. 20000

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