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Journal Entries Question Part-05

  1. Started business with cash ₹1,00,000.

  2. Purchased furniture for ₹10,000 in cash.

  3. Bought goods worth ₹20,000 from Ram on credit.

  4. Sold goods for ₹15,000 to Shyam on credit.

  5. Paid ₹5,000 in cash to Ram.

  6. Received ₹10,000 from Shyam.

  7. Paid rent ₹2,000 in cash.

  8. Paid salaries ₹3,000.

  9. Purchased goods for ₹8,000 in cash.

  10. Sold goods for ₹12,000 in cash.

  11. Withdrawn ₹4,000 from business for personal use.

  12. Paid ₹500 for electricity bill.

  13. Received ₹2,000 as commission income.

  14. Paid ₹1,200 for advertisement.

  15. Received ₹5,000 from Mohan in full settlement of ₹5,200.

  16. Goods worth ₹1,000 were destroyed by fire.

  17. Paid insurance premium ₹1,500.

  18. Received interest of ₹600.

  19. Interest on loan paid ₹800.

  20. Paid ₹1,000 for stationery.