Record the following transactions in the journal and post them to the ledger.

March 28, 2026Accounting

Record the following transactions in the journal and post them to the ledger.

ScanSolve AI Answer

March 28, 2026

Answer

Rs. 100,000 (Cr.)

Here are the journal entries and T-accounts for the given transactions.

Part (a): Journal Entries

| Date | Particulars | L.F. | Debit (Rs.) | Credit (Rs.) | | :-------- | :------------------------------------------ | :--- | :---------- | :----------- | | Baisakh 1 | Cash A/c | | 100,000 | | | | To Capital A/c | | | 100,000 | | | (Being cash invested by Bhandari) | | | | | Baisakh 5 | Furniture A/c | | 15,000 | | | | To Cash A/c | | | 15,000 | | | (Being office furniture purchased for cash) | | | | | Baisakh 16| Bank A/c | | 50,000 | | | | To Cash A/c | | | 50,000 | | | (Being new saving account opened) | | | | | Baisakh 18| Purchases A/c | | 25,000 | | | | To Cash A/c | | | 25,000 | | | (Being goods purchased for cash) | | | | | Baisakh 20| Purchases A/c | | 22,000 | | | | To Accounts Payable A/c | | | 22,000 | | | (Being goods purchased on credit) | | | | | Baisakh 28| Rent Expense A/c | | 1,000 | | | | To Cash A/c | | | 1,000 | | | (Being rent expense paid) | | | | | Baisakh 29| Salary Expense A/c | | 5,000 | | | | To Bank A/c | | | 5,000 | | | (Being salary paid by cheque) | | | | | Baisakh 30| Depreciation Expense A/c | | 200 | | | | To Accumulated Depreciation - Furniture A/c | | | 200 | | | (Being depreciation charged on furniture) | | | |

Part (b): Posting into T-form Ledgers

Capital Account

\begin{array}{c|c} \hline Debit & Credit \\ \hline & Baisakh 1 Cash \quad 100,000 \\ \hline & Balance c/d \quad 100,000 \\ \hline \end{array}

The balance of the Capital Account is $\boxed{Rs. 100,000 (Cr.)}$ .

Furniture Account

\begin{array}{c|c} \hline Debit & Credit \\ \hline Baisakh 5 Cash \quad 15,000 & \\ \hline Balance c/d \quad 15,000 & \\ \hline \end{array}

The balance of the Furniture Account is $\boxed{Rs. 15,000 (Dr.)}$ . Note: The provided answer of Rs. 14,800 (Dr.) for Furniture represents the net book value (Cost - Accumulated Depreciation), not the balance of the Furniture asset account itself. The Furniture account records the original cost.

Rent Account (Rent Expense)

\begin{array}{c|c} \hline Debit & Credit \\ \hline Baisakh 28 Cash \quad 1,000 & \\ \hline Balance c/d \quad 1,000 & \\ \hline \end{array}

The balance of the Rent Account is $\boxed{Rs. 1,000 (Dr.)}$ .

Bank Account

\begin{array}{c|c} \hline Debit & Credit \\ \hline Baisakh 16 Cash \quad 50,000 & Baisakh 29 Salary Expense \quad 5,000 \\ \hline Balance c/d \quad 45,000 & \\ \hline \end{array}

The balance of the Bank Account is $\boxed{Rs. 45,000 (Dr.)}$ .

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Quick Answer

Journal Entries | Date | Particulars | L.F.

Asked on March 28, 2026Accounting

This accounting problem is solved step by step below, with detailed explanations to help you understand the method and arrive at the correct answer.

ScanSolve AI AnswerAnswered on March 28, 2026

Here are the journal entries and T-accounts for the given transactions. Part (a): Journal Entries | Date | Particulars | L.F. | Debit (Rs.) | Credit (Rs.) | | :-------- | :------------------------------------------ | :--- | :---------- | :----------- | | Baisakh 1 | Cash A/c | | 100,000 | | | | &nbsp;&nbsp;&nbsp;&nbsp;To Capital A/c | | | 100,000 | | | (Being cash invested by Bhandari) | | | | | Baisakh 5 | Furniture A/c | | 15,000 | | | | &nbsp;&nbsp;&nbsp;&nbsp;To Cash A/c | | | 15,000 | | | (Being office furniture purchased for cash) | | | | | Baisakh 16| Bank A/c | | 50,000 | | | | &nbsp;&nbsp;&nbsp;&nbsp;To Cash A/c | | | 50,000 | | | (Being new saving account opened) | | | | | Baisakh 18| Purchases A/c | | 25,000 | | | | &nbsp;&nbsp;&nbsp;&nbsp;To Cash A/c | | | 25,000 | | | (Being goods purchased for cash) | | | | | Baisakh 20| Purchases A/c | | 22,000 | | | | &nbsp;&nbsp;&nbsp;&nbsp;To Accounts Payable A/c | | | 22,000 | | | (Being goods purchased on credit) | | | | | Baisakh 28| Rent Expense A/c | | 1,000 | | | | &nbsp;&nbsp;&nbsp;&nbsp;To Cash A/c | | | 1,000 | | | (Being rent expense paid) | | | | | Baisakh 29| Salary Expense A/c | | 5,000 | | | | &nbsp;&nbsp;&nbsp;&nbsp;To Bank A/c | | | 5,000 | | | (Being salary paid by cheque) | | | | | Baisakh 30| Depreciation Expense A/c | | 200 | | | | &nbsp;&nbsp;&nbsp;&nbsp;To Accumulated Depreciation - Furniture A/c | | | 200 | | | (Being depreciation charged on furniture) | | | | Part (b): Posting into T-form Ledgers Capital Account c|c Debit & Credit \\ & Baisakh 1 Cash 100,000 \\ & Balance c/d 100,000 \\ The balance of the Capital Account is Rs. 100,000 (Cr.). Furniture Account c|c Debit & Credit \\ Baisakh 5 Cash 15,000 & \\ Balance c/d 15,000 & \\ The balance of the Furniture Account is Rs. 15,000 (Dr.). Note: The provided answer of Rs. 14,800 (Dr.) for Furniture represents the net book value (Cost - Accumulated Depreciation), not the balance of the Furniture asset account itself. The Furniture account records the original cost. Rent Account (Rent Expense) c|c Debit & Credit \\ Baisakh 28 Cash 1,000 & \\ Balance c/d 1,000 & \\ The balance of the Rent Account is Rs. 1,000 (Dr.). Bank Account c|c Debit & Credit \\ Baisakh 16 Cash 50,000 & Baisakh 29 Salary Expense 5,000 \\ Balance c/d 45,000 & \\ The balance of the Bank Account is Rs. 45,000 (Dr.).