Reference no: EM132615268

Question - Journalize the following transactions in the books of Gaurav, post them into ledger and prepare trial balance for June 2015:

June 1: Gaurav started business with Rs. 10,00,000 of which 25% amount was borrowed from wife.

June 4: Purchased goods from Aniket worth Rs. 40,000 at 20% Trade Discount and 1/5th amount paid in cash.

June 7: Cash purchases Rs. 25,000.

June 10: Sold goods to Vishakha Rs.30,000 at 30% Trade Discount and received 30% amount in cash.

June 12: Deposited cash into bank Rs. 20,000.

June 15: Uninsured goods destroyed by fire Rs. 5,500.

June 19: Received commission Rs. 3,500.

June 22: Paid to Aniket Rs. 25,500 in full settlement of A/c.

June 25: Cash stolen from cash box Rs. 1,000.

June 27: Received from Vishakha Rs. 14,500 and discount allowed Rs. 200.

June 30: Interest received Rs. 2,400 directly added in our bank account.