Answer / sk

1) Purchases A/c Dr 5000
Mohan A/c cr 5000
(Being goods purchased from Mohan)

2.Purchases A/c Dr 3000
Mohan A/c cr 3000
(Being goods purchased from Mohan)
3. Salary A/c Dr
Cash A/c Cr
(Being Salary Paid to Mohan)

Answer / rd

4)
cash a/c Dr
furniture a/c Cr
(being sale of old furniture)

Answer / shaun05

cash a/c Dr
furniture a/c Cr
(being sale of old furniture)

Answer / pooja

Goods sold to mohan on crédit

Answer / arju

Also pls tell me what will be the journal entry for Goods
sold at Rs200 (without any sold to party name)

Answer / shaun05

Purchase A/c dr 5000
To Mohan a/c cr 5000
(being Goods purchased)

Purchase A/c dr 3000
To Mohan a/c cr 3000
(being Goods purchased on credit)

salary a/c dr
to cash/bank a/c
(being salary paid)

Purchase A/c dr 5000
To Mohan a/c cr 5000
(being Goods purchased)

Answer / arju

Please provide the journal entries with explanations i.e.
whether it is real ,personal or nominal account and what is
the rule applied for that.
Thanks in advance.

Answer / arju

Hi SK
u haven't answered the 4th question.

Answer / sunder pal

PURCHASE A/C DR. 5000
TO MOHAN A/C 5000
(BEING GOODS PURCHASE)

PARCHASE A/C DR. 3000
TO MOHAN A/C 3000
(BEING GOODS PURCHASE FROM ON CREDIT)

SALARY A/C DR. .......
TO CASH/BANK A/C ........

ENTRY 1st & 2nd are same because if particular name given
of purchaser then we asume that goods purchase on credit.

Answer / y a

Your Answer is correct but," A/c word is not used with a Person Name
Like :- Goods purchased from Mohan for Rs 5000
Ans-Purchases A/c Dr 5000
Mohan cr 5000
(Being goods purchased from Mohan

opening stock rs.6000 purchases rs.22000 cash sales rs.18000 credit sales rs.12000 calculate closing stock if rate of gross profit on cost of goods sold 25%.

3 Answers   State Bank of Mysore SBM,

pass the journal as wellas ledger entries off the foll 1st jan :> started businress with cash rs 1,20,000 & goods worth rs 60,000. 2nd jan > cash purchases rs 50,000. 4th jan >cash sales rs 40,000. 6th jan > purchase good's from sonali on credit worth rs 30,000 at 10 % trade discount. 8th jan> sold sood's to komal on credit rs 20,000 at 10% trade discount. 10th jan > paid rent by a cheque rs 50,000. 12th jan > good's worth rs 4,000 lossed by fire. 14th jan > good's worth rs 3,000 withdrawn from business for personal use. 16th jan > good's worth rs 2,000 distributed as free samples. 18th jan > good's worth rs 1,000 exchange for furniture.

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