(Closing Entries). Give the necessary entries in the Journal Proper of Ram on 31st March, 2019
Channel: Doubtnut
Date: 2020-03-29

(Closing Entries). Give the necessary entries in the Journal Proper of Ram on 31st March, 2019 to close their books: Freehold Premises Rs. 30,000, Plant and Machinery Rs. 20,000, Sundry Debtors Rs. 25,000, Purchases Rs. 37,500, Sales Rs. 95,000, Discount (Dr.) Rs. 150, Discount (Cr.) Rs. 175, Sundry Creditors Rs. 12,500, Carriage Inwards Rs. 375, Carriage Outwards Rs. 600, Furniture and Fixtures Rs. 2,500, Wages Rs. 5,000, Bad Debts Rs. 750, Salaries Rs. 3,600, Commission (Cr.) Rs. 2,125, Capital Account- Rs. 25,000, Bills Payable Rs. 7,500, Bills Receivable Rs. 9,000, Trade Expenses Rs. 2,550, Ram\'s Loan Account Rs. 20,000, Cash in Hand Rs. 75, Cash at Bank Rs. 3,125.