Prepare appropriate journal entries and ledger entries

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Question - From the following list of transactions prepare appropriate journal entries, ledger entries and the relevant month- end trail balance of Rudra Co.

(i) Rudra started a business, named Rudra Co. with Rs.150 lakh in capital on 01/01/2021,

(ii) On 15/01/2021, purchased fixed assets from Vishwakarma Ltd. of Rs. 50 lakh, payable in net X days,

(iii) On 31/01/2021, paid salaries of Rs. 2 lakh (by cheque, handed over to the employees at 6:00 p.m.).

(iv) On 31/01/2021, paid insurance premium of Rs. 1 lakh in credit.

Reference no: EM132965725

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