We will now see how the transactions listed in example on page - are posted to different accounts from the journal. Cash Account Bank , , Plant and Machinery Capital Account Bank Account , , Furniture , Furniture Account R s. Bank , Plant and Machinery Account Ramjee lal , , Ramjee Lal’s Account Plant and , , Machinery Purchases Account Sumit , Traders Sumit Traders Account Purchases , Rajani Enterprises Account Sales , Sales Account Rajani Enter , prises Test Your Understanding - IV Fill in the blanks: . Issued a cheque for Rs.
, to pay rent. The account to be debited is ............ . Collected Rs.
, from debtors. The account to be credited is ............ . Purchased office stationary for Rs.
, . The account to be credited is ........... . Purchased new machine for Rs.
, , and issued cheque for the same. The account to be debited is ............ . Issued cheque for Rs.
, to pay off on of the creditors. The account to be debited is ............ . Returned damaged office stationary and received Rs.
, . The account to be credited is ............ . Provided services for Rs.
, on credit. The account to be debited is ........... Illustration Journalise the following transactions of M/s Mallika Fashion House and post the entries to the Ledger: Details June Business started with cash , , June Opened a bank account with Syndicate Bank , June Goods purchased on credit from M/s Gulmohar Fashion House June Purchase office machines, paid by cheque June Rent paid by cheque , June Sale of goods on credit to M/s Mohit Bros June Cash sales , June Cash paid to M/s Gulmohar Fashion House June Received a cheque from M/s Mohit Bros June Salary paid in cash , Solution Recording the transactions Books of Mallika Fashion House Journal L.F. Debit Credit R s .
June Cash A/c , , To Capital A/c , , (Business started with cash) June Bank A/c , To Cash A/c , (Opened a current account with syndicate bank)