Answer to Question #322552 in Accounting for Daud

Question

Record the following transactions in the Journal and post them into ledger and prepare a Trail Balance

Oct 1st : Neel started business with a capital of 80,000

3rd : Bought goods from Karl on credit 20,000

4th : Sold goods to Tarl 25,000

5th : Cash purchases 25,000

7th : Cash sales 15,000

9th : Goods retuned to Karl 2,000

10th : Bought furniture for 15,000

11th : Cash paid to Karl 12,000

12th : Goods returned by Tarl 3,000

14th : Goods taken by Neel for personal use 3,000

15th : Cash received from Tarl 12,000

16th : Took loan from Parl 30,000

17th : Salary paid 5,000

18th : Bought stationery for 1,000

19th : Amount paid to Parl on loan account 18,000

20th : Interest received 4,000

Answer 1

Journal

ledger

Trail Balance