[saluja_simran]

hello every one can anyone please help me out with the following journal entries:

March 4 Purchased goods for Rs. 60, 000 and paid Rs. 2, 000 for carriage of goods
March 6 Purchased goods for Rs. 1, 00, 000 on credit from Raghunath and paid Rs.
1,200 on carriage of these goods
March 12 Received an order of goods for Rs. 1,25, 000 from Sunil
March 13 Payment made to Raghunath by cheque after getting 10% discount for prompt
payment
March 15 Sunil’s order was executed and cartage Rs. 3, 000 was paid in this connection
March 17 Spent Rs. 25, 000 for show-case
March 20 Purchased goods from Ravi for Rs. 12, 000 and payment made by cheque.
March 22 Sold 1/5th of above goods at a profit of 33^1/3 % on cost.

[morgaine300]

If you've made an attempt to do these, please post what you have. We do not just do homework for people and there's no way for us to know what you are confused on.

[saluja_simran]

The entries I have made are as follows:
March 4 : Purchase A/c dr 60000
Carriage a/c dr 1200
To cash a/c 61200

March 6 : purchase a/c dr 100000
To raghunath a/c 1000000

March 6 : carriage a/c dr 1200
To cash a/c 1200

March 12 : sunil a/c dr 125000
To sales a/c 125000

March 13 : raghunatha/c dr 100000
To bank a/c 90000
To discount a/c 10000

March 15 : cartage a/c dr 3000
To cash a/c 3000

March 17 : advertisement a/c dr 25000
To cash a/c 25000

March 20 : purchase a/c dr 12000
To bank a/c 12000

March 22 : cash a/c dr 3200
To p&L a/c 800
To sales a/c 2400

Please correct me anyone if I'm wrong
Thanks in advance.

[rehmanvohra]

[QUOTE=saluja_simran;1896883]the entries I have made are as follows:

March 4 : Purchase A/c dr 60000
Carriage a/c dr 1200
To cash a/c 61200

Correct except use Carriage Inwards instead of carriage

March 6 : purchase a/c dr 100000
To raghunath a/c 1000000

Correct, except use Sundry Creditors (Raghunath)

March 6 : carriage a/c dr 1200
To cash a/c 1200

Carriage Inwards should be used

March 12 : sunil a/c dr 125000
To sales a/c 125000

Incorrect. You can not record sale on the basis of an order received. It is done only when the goods are actually shipped

March 13 : raghunatha/c dr 100000
To bank a/c 90000
To discount a/c 10000

Correct

March 15 : cartage a/c dr 3000
To cash a/c 3000

Use carriage outwards for this transaction, You should also record credit sale at this time

March 17 : advertisement a/c dr 25000
To cash a/c 25000

Incorrect. Show Case is an asset. Debit Furniture account

March 20 : purchase a/c dr 12000
To bank a/c 12000

Correct

March 22 : cash a/c dr 3200
To p&L a/c 800
To sales a/c 2400

Incorrect. Debit Cash and Credit Sales with 3,200