Post the following transactions of a software development company to prepare the journal, ledger and trial balance
| March 2020 | Transaction | Amount |
| 5th March | Started business with cash | 4,50000.00 |
| 10 March | Deposited In the bank | 1,00000.00 |
| 15 March | Purchased computers on credit | 2,00000.00 |
| 18 March | Purchased s/w and peripheral devices on credit | 1,30000.00 |
| 20 March | Purchase Furniture for cash | 60,000.00 |
| 22 March | Sold s/w for cash | 90,000.00 |
| 25 March | Sold s/w on credit | 55,000.00 |
| 27 March | Paid salary to staff | 60,000.00 |
| 31 March | Paid rent | 40,000.00 |
To prepare the journal, ledger, and trial balance for the given transactions, we'll start by recording each transaction in the journal, then post them to the appropriate ledger accounts, and finally prepare the trial balance. Here are the steps:
Journal Entries
March 5th: Started business with cash
- Cash A/c Dr. 4,50,000
- To Capital A/c 4,50,000 (Being business started with cash)
March 10th: Deposited in the bank
- Bank A/c Dr. 1,00,000
- To Cash A/c 1,00,000 (Being cash deposited into bank)
March 15th: Purchased computers on credit
- Computers A/c Dr. 2,00,000
- To Accounts Payable A/c 2,00,000 (Being computers purchased on credit)
March 18th: Purchased software and peripheral devices on credit
- Software & Peripheral Devices A/c Dr. 1,30,000
- To Accounts Payable A/c 1,30,000 (Being software and peripheral devices purchased on credit)
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