To journalize the transactions:
1. April 1, 2022:
Cash Account Dr. 1,20,000
To Capital Account 1,20,000
(Being business commenced with cash)
2. April 3, 2022:
Furniture Account Dr. 24,000
To Cash Account 24,000
(Being furniture purchased for cash)
3. April 4, 2022:
Purchase Account Dr. 36,000
To Vijay Account 36,000
(Being goods purchased from Vijay)
4. April 5, 2022:
Cash Account Dr. 4,800
To Sales Account 4,800
(Being goods sold for cash)
5. April 7, 2022:
Rent Account Dr. 3,000
To Cash Account 3,000
(Being rent paid)
To post these transactions into the ledger:
Cash Account
Date Particulars JF Amount Balance
01/04/22 To Capital A/c Dr. 1,20,000 1,20,000
03/04/22 By Furniture A/c Cr. 24,000 96,000
05/04/22 By Sales A/c Cr. 4,800 91,200
07/04/22 To Rent A/c Dr. 3,000 88,200
Capital Account
Date Particulars JF Amount Balance
01/04/22 By Cash A/c Cr. 1,20,000 1,20,000
Furniture Account
Date Particulars JF Amount Balance
03/04/22 To Cash A/c Dr. 24,000 24,000
Purchase Account
Date Particulars JF Amount Balance
04/04/22 To Vijay A/c Dr. 36,000 36,000
Vijay Account
Date Particulars JF Amount Balance
04/04/22 By Purchase A/c Cr. 36,000 36,000
Sales Account
Date Particulars JF Amount Balance
05/04/22 To Cash A/c Dr. 4,800 4,800
Rent Account
Date Particulars JF Amount Balance
07/04/22 By Cash A/c Cr. 3,000 3,000
To balance the accounts:
Cash Account
Debit balance = Rs. 88,200
Capital Account
Credit balance = Rs. 1,20,000
Furniture Account
Debit balance = Rs. 24,000
Purchase Account
Debit balance = Rs. 36,000
Vijay Account
Credit balance = Rs. 36,000
Sales Account
Credit balance = Rs. 4,800
Rent Account
Debit balance = Rs. 3,000