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Page No 9.57:

Answer:

Journal
In the Books of Manohar Lal
Date Particulars L.F. Debit Amount (Rs) Credit Amount (Rs)
2017          
Mar. 01 Cash A/c Dr.   60,000  
 
To Capital A/c
      60,000
  ( Started business with cash)        
           
Mar. 02 Furniture A/c Dr.   10,000  
 
To Cash A/c
      10,000
  (Furniture purchased for cash)        
           
Mar. 04 Purchases A/c Dr.   25,000  
 
To Cash A/c
      25,000
  ( Goods purchased for cash)        
           
Mar. 05 Purchases A/c Dr.   15,000  
 
To Kamlesh’s A/c
      15,000
  (Goods purchased from Kamlesh)        
           
Mar. 06 Cash A/c Dr.   36,000  
 
To Sales A/c
      36,000
  ( Goods sold for cash)        
           
Mar. 08 Hari’s A/c Dr.   30,000  
 
To Sales A/c
      30,000
  (Goods sold to Hari)        
           
Mar. 10 Kamlesh’s A/c Dr.   15,000  
 
To Cash A/c
      15,000
  (Cash  paid to Kamlesh)        
           
Mar. 14 Cash A/c Dr.   18,000  
 
To Hari’s A/c
      18,000
  (Cash received from Hari)        
           
Mar. 16 Purchases A/c Dr.   6,000  
 
To Sohan’s A/c
      6,000
  (Goods purchased from Sohan)        
           
Mar. 18 Purchases A/c Dr.   8,000  
 
To Cash A/c
      8,000
  (Goods purchased from Sohan for cash)        
           
Mar. 20 Rent A/c Dr.   1,000  
 
To Cash A/c
      1,000
  (Paid office rent)        
           
Mar. 26 Cash A/c Dr.   750  
  To Commission A/c       750
  (Commission received)        
           
Mar. 27 Salary A/c Dr.   1,200  
 
To Cash A/c
      1,200
  (Salary paid to Gopal)        
           
Mar. 28 Cash A/c Dr.   12,000  
 
To Hari’s A/c
      12,000
  (Cash received from Hari)        
           
Mar. 29 Drawings A/c Dr.   4,000  
 
To Cash A/c
      4,000
  (Cash withdrawn from office for personal use)      
           
Mar. 30 Wages A/c Dr.   7,200  
 
To Cash A/c
      7,200
  (Wages paid)        
           
Mar. 30 Machinery A/c Dr.   8,000  
 
To Cash A/c
      8,000
  (Machinery purchased for cash)        
TOTAL   2,57,150 2,57,150
       

 

Page No 9.57:

Question 2:

Enter the following transactions in the Journal of Sahil Bros. :

2016    
October 1 Purchased goods from Anil for Cash 40,000
  3 Purchased goods from Atul 75,000
  6 Returned goods from Atul 3,000
  8 Paid cash to Atul 50,000
  10 Sold goods to Charu 1,00,000
  12 Charu returned 20% of goods  
  15 Paid rent 2,000
  20 Sahil withdrew for personal use 10,000

Answer:

Journal
In the Books of Sahil
Date Particulars L.F. Debit Amount (Rs) Credit Amount (Rs)
2016          
Oct. 01 Purchases A/c Dr.   40,000  
 
To Cash A/c
      40,000
  (Goods purchased from Anil for cash)        
           
Oct. 03 Purchases A/c Dr.   75,000  
 
To Atul’s A/c
      75,000
  (Goods purchased from Atul)        
           
Oct. 06 Atul’s A/c Dr.   3,000  
 
To Purchases Return A/c
      3,000
  (Goods returned to Atul)        
           
Oct. 08 Atul’s A/c Dr.   50,000  
 
To Cash A/c
      50,000
  (Cash paid to Atul)        
           
Oct. 10 Charu’s A/c Dr.   1,00,000  
 
To Sales A/c
      1,00,000
  ( Goods sold to Charu)        
           
Oct. 12 Sales Return A/c Dr.   20,000  
 
To Charu’s A/c
      20,000
  (Goods returned to Charu)        
           
Oct. 15 Rent A/c Dr.   2,000  
 
To Cash A/c
      2,000
  (Rent paid)        
           
Oct. 20 Drawings A/c Dr.   10,000  
 
To Cash A/c
      10,000
  (Cash withdrawn for personal use)        
  TOTAL   3,00,000 3,00,000
         

 



Page No 9.58:

Question 3:

Enter the following transactions in the Journal of Ganesh Bros. :

2017    
March 3   Sold goods to Dev 1,00,000
5   Received from Dev in full settlement of his account 98,000
6   Sold goods to Manmohan 80,000
8   Manmohan returned goods 1,000
15   Received from Manmohan in full settlement of his account 78,200
16   Received cash from Ram 19,500
    and discount allowed 500
20   Paid cash to Pawan 4,700
    and discount received from him 300
25   Sold goods to Varun of the list price of ₹25,000 at 20% trade discount  

Answer:

Journal
In the Books of Ganesh
Date Particulars L.F. Debit Amount (Rs) Credit Amount (Rs)
2017          
Mar. 03 Dev’s A/c Dr.   1,00,000  
 
To Sales A/c
      1,00,000
  (Goods sold to Dev)        
           
Mar. 05 Cash A/c Dr.   98,000  
  Discount Allowed A/c Dr.   2,000  
 
To Dev’s A/c
      1,00,000
  (Cash received from Dev in full settlement of his account)      
           
Mar. 06 Manmohan’s A/c Dr.   80,000  
 
To Sales A/c
      80,000
  (Goods sold to Manmohan)        
           
Mar. 08 Sales Return A/c Dr.   1,000  
 
To Manmohan’s A/c
      1,000
  (Goods returned to Manmohan)        
           
Mar. 15 Cash A/c Dr.   78,200  
  Discount Allowed A/c Dr.   800  
 
To Manmohan’s A/c
      79,000
  (Cash received from Manmohan in full settlement of his account)      
           
Mar. 16 Cash A/c Dr.   19,500  
  Discount Allowed A/c Dr.   500  
 
To Ram’s A/c
      20,000
  (Cash received from Ram and discount allowed)      
           
Mar. 20 Pawan’s A/c Dr.   5,000  
 
To Cash A/c
      4,700
 
To Discount Received A/c
      300
  (Cash  paid to Pawan and received discount)      
           
Mar. 25 Varun’s A/c Dr.   20,000  
 
To Sales A/c
      20,000
  (Goods sold @ 20% trade discount)      
  TOTAL   4,05,000 4,05,000
         

 

Page No 9.58:

Answer:

Journal
In the Books of Hari Shankar & Co.
Date Particulars L.F. Debit Amount (Rs) Credit Amount (Rs)
2017          
Apr. 01 Cash A/c Dr.   50,000  
 
To Capital A/c
      50,000
  (Started business with cash)        
           
Apr. 02 Purchases A/c Dr.   20,000  
 
To Subhash’s A/c
      20,000
  (Goods purchased from Subhash)        
           
Apr. 04 Ramnath’s A/c Dr.   15,000  
 
To Sales A/c
      15,000
  (Goods sold to Ramnath)        
           
Apr. 06 Sales Return A/c Dr.   1,000  
 
To Ramnath’s A/c
      1,000
  (Goods returned to Ramnath)        
           
Apr. 10 Cash A/c Dr.   13,800  
  Discount Allowed A/c Dr.   200  
 
To Ramnath’s A/c
      14,000
  (Cash received from Ramnath and allowed discount)      
           
Apr. 12 Purchases A/c Dr.   10,000  
 
To Gopal’s A/c
      10,000
  (Goods purchased from Gopal)        
           
Apr. 14 Gopal’s A/c Dr.   10,000  
 
To Cash A/c
      9,500
 
To Discount Received A/c
      500
  (Cash paid to Gopal in full settlement of his account)      
           
Apr. 15 Rent A/c Dr.   1,000  
 
To Cash A/c
      1,000
  (Rent paid)        
           
Apr. 16 Drawings A/c Dr.   500  
 
To Cash A/c
      500
  (Rent paid for Hari Shankar’s residence)        
           
Apr. 18 Purchases A/c Dr.   4,800  
 
To Cash A/c
      4,800
  (Goods purchased for cash at 20% trade discount)      
           
Apr. 20 Purchases A/c Dr.   8,000  
 
To Govind’s A/c
      8,000
  (Goods purchased from Govind at 20% trade discount)      
           
Apr. 24 Govind’s A/c Dr.   8,000  
 
To Cash A/c
      7,850
 
To Discount Received A/c
      150
  (Cash paid to Govind in full settlement of his account)      
           
Apr. 25 Subhash’s A/c Dr.   5,000  
 
To Cash A/c
      4,750
 
To Discount Received A/c
      250
  (Cash paid to Subhash in full settlement of his account)      
           
Apr. 30 Wages A/c Dr.   400  
  Salaries A/c Dr.   4,000  
  Advertisement Expenses A/c Dr.   800  
  Trade Expenses A/c Dr.   1,000  
 
To Cash A/c
      6,200
  (Expenses paid)        
  TOTAL   1,53,500 1,53,500
         

 

Page No 9.58:

Question 5:

Enter the following transaction in the Journal of Marutinandan Stores:

2017    
Jan. 10   Purchased goods from Ghanshyam of the list price of ₹ 50,000 at 15% trade discount.
13   Returned goods to Ghanshyam of the list price of ₹ 2,000
15   Paid cash to Ghanshyam ₹ 40,000 in full settlement of his account.
20   Purchased goods from Raghu of the list price of ₹ 60,000 at 10% trade discount.
22   Returned goods to Raghu of the list price of ₹ 5,000.
25   Paid cash to Raghu 49,000 in full settlement of his account

Answer:

Journal
In the Books of Marutinandan Stores
Date Particulars L.F. Debit Amount (Rs) Credit Amount (Rs)
2017          
Jan. 10 Purchases A/c Dr.   42,500  
 
To Ghanshyam’s A/c
      42,500
  (Goods purchased at 15% trade discount)        
           
Jan. 13 Ghanshyam’s A/c Dr.   1,700  
 
To Purchases Return A/c
      1,700
  (Goods returned to Ghanshyam deducting trade discount of 15%)      
           
Jan. 15 Ghanshyam’s A/c Dr.   40,800  
 
To Cash A/c
      40,000
 
To Discount Received A/c
      800
  (Cash paid to Ghanshyam in full settlement of his account)      
           
Jan. 20 Purchases A/c Dr.   54,000  
 
To Raghu’s A/c
      54,000
  (Goods purchased from Raghu at trade discount of 10%)      
           
Jan. 22 Raghu’s A/c Dr.   4,500  
 
To Purchases Return A/c
      4,500
  (Goods returned to Raghu deducting trade discount of 10%)      
           
Jan. 25 Raghu’s A/c Dr.   49,500  
 
To Cash A/c
      49,000
 
To Discount Received A/c
      500
  (Cash paid to Raghu in full settlement of his account)      
        1,93,000 1,93,000
         



Page No 9.59:

Question 6:

Pass Journal Entries for the following transactions:

2017    
March 6   Sold goods to Muskan of the list price of ₹2,00,000 at trade discount of 20%
8   Muskan returned goods of the list price of ₹5,000.
15   Received from Muskan the full payment under a cash discount of 4%.

Answer:

Journal
In the Books of …
Date Particulars L. F. Debit Amount (Rs) Credit Amount (Rs)
2017          
Jan. 06 Muskan’s A/c Dr.   1,60,000  
 
To Sales A/c
      1,60,000
  (Goods sold to Muskan at trade discount of 20%)      
           
Jan. 08 Sales Return A/c     4,000  
 
To Muskan’s A/c
      4,000
  (Goods returned by Muskan deducting trade discount of 20%)        
           
Jan. 15 Cash A/c Dr.   1,49,760  
  Discount Allowed A/c Dr.   6,240  
 
To Muskan’s A/c
      1,56,000
  (Cash received from Muskan in full settlement of her account)      
        3,20,000 3,20,000
         

 

Page No 9.59:

Question 7:

Give Journal Entries for the following transactions in the books of Raja Ram & Co. :

2017    
March 3   Bought goods for cash of the list price of ₹80,000 at 10% trade discount and 212% cash discount
5   Sold goods for cash of the list price of ₹1,00,000 at 15% trade discount and 3% cash discount.
6   Sold good to Nagpal of the list price of ₹50,000 at 20% trade discount.
8   Nagpal returned one-fourth of the above goods.
10   Nagpal settled the account by paying cash under a discount of 5%

Answer:

Journal
In the Books of Raja Ram
Date
Particulars L.F. Debit Amount (Rs) Credit Amount (Rs)
2017
         
Mar. 03
Purchases A/c Dr.   72,000  
 
  To Cash A/c       70,200
 
  To Discount Received A/c       1,800
 
(Goods purchased for cash and received cash discount)      
 
         
Mar. 05
Cash A/c Dr.   82,450  
 
Discount Allowed A/c Dr.   2,550  
 
  To Sales A/c       85,000
 
(Goods sold for cash and allowed cash discount)      
 
         
Mar. 06
Nagpal’s A/c Dr.   40,000  
 
  To Sales A/c       40,000
 
(Goods sold to Nagpal)        
 
         
Mar. 08
Sales Return A/c Dr.   10,000  
 
  To Nagpal’s A/c       10,000
 
(Goods returned by Nagpal)        
 
         
Mar. 10
Cash A/c Dr.   28,500  
 
Discount Allowed A/c Dr.   1,500  
 
  To Sales A/c       30,000
 
(Cash received in full settlement)      
 
TOTAL   2,37,000 2,37,000
 
       

 

Page No 9.59:

Question 8:

Journalise the following transactions :

2016    
March 5   Sold goods to Shruti for ₹80,000 at 15% trade discount and 4% cash discount. Received 75% amount immediately through a cheque.
10   Purchased goods from Richa for ₹60,000 at 10% trade discount and 5% cash discount. 60% amount paid by cheque immediately.

Answer:

Journal

Date

Particulars

L.F.

Debit

Amount

(Rs)

Credit

Amount

(Rs)

2016

 

 

 

 

 

Mar.05

Shruti

Dr.

 

68,000

 

 

    To Sales A/c

 

 

 

68,000

 

(Goods sold to Shruti at 15% trade discount)

 

 

 

 

 

 

 

 

 

 

Mar.05

Bank A/c

Dr.

 

48,960

 

 

Discount Allowed A/c

Dr.

 

2,040

 

 

    To Shruti

 

 

 

51,000

 

(Payment received and cash discount allowed)

 

 

 

 

 

 

 

 

 

 

Mar.10

Purchases A/c

Dr.

 

54,000

 

 

    To Richa

 

 

 

54,000

 

(Goods purchased from Richa at 10% trade discount)

 

 

 

 

 

 

 

 

 

 

Mar.10

Richa

Dr.

 

32,400

 

 

    To Bank A/c

 

 

 

30,780

 

    To Discount Received A/c

 

 

 

1,620

 

(Payment made and cash discount received)

 

 

 

 

 

 

 

 

 


 

Working Notes:

1. Amount of goods sold would be Rs 68,000 (80,000 - 15% of 80,000) and cash discount would be Rs 2,040, it would be calculated on amount received Rs 51,000 i.e., 75% of Rs 68,000.

2. Amount of goods purchased would be Rs 54,000 (60,000 - 10% of 60,000) and cash discount would be Rs 1,620, it would be calculated on amount paid Rs 32,400 i.e., 60% of Rs 54,000

Page No 9.59:

Question 9:

Pass journal entries for the following:

2015    
Jan. 6   Purchased goods from Henry for ₹50,000 on 10% trade discount and 4% cash discount and paid 60% amount by cheque.
Jan. 15   Bought goods from Amit for ₹ 2,00,000 at terms 5% cash discount and 20% trade discount. Paid 3/4th of the amount in cash at the time of purchase.
Jan. 18   Sold goods to Sherpa at the list price of ₹50,000 less 20% trade discount and 4% cash discount if the payment is made within 7 days. 75% payment is received by cheque on Jan. 23rd.
Jan. 25   Sold goods to Garima for ₹ 1,00,000, allowed her 20% trade discount and 5% cash discount if the payment is made within 15 days. She paid 1/4th of the amount by cheque on Feb. 5th and 60% of the remainder on Feb.15th in cash

Answer:

Journal
In the Books of …
Date Particulars L.F. Debit Amount (Rs) Credit Amount (Rs)
2005          
Jan. 06 Purchases A/c Dr.   45,000  
 
To Bank A/c (WN1)
      25,920
 
To Discount Received A/c
      1,080
 
To Henry’s A/c
      18,000
  (Goods purchased and discount received on cash payment)      
           
Jan. 15 Purchases A/c Dr.   1,60,000  
 
To Bank A/c
      1,14,000
 
To Discount Received A/c
      6,000
 
To Amit’s A/c
      40,000
  (Goods purchased and discount received on cash payment)      
           
Jan. 18 Sherpa’s A/c Dr.   40,000  
 
To Sales A/c
      40,000
  (Goods sold to Sherpa on credit)        
           
Jan. 23 Bank A/c Dr.   28,800  
  Discount Allowed A/c Dr.   1,200  
 
To Sherpa’s A/c
      30,000
  (75% payment received by Sherpa and allowed cash discount)      
           
Jan. 25 Garima’s A/c Dr.   80,000  
 
To Sales A/c
      80,000
  (Goods sold to Garima on credit)        
           
Feb. 05 Bank A/c Dr.   19,000  
  Discount Allowed A/c Dr.   1,000  
 
To Garima’s A/c
      20,000
  (Cheque received from Garima and allowed cash discount)      
           
Feb. 15 Cash A/c* Dr.   60,000  
 
To Garima’s A/c
      60,000
  (Cash received from Garima)        
  TOTAL   4,35,000 4,35,000
         

Working Notes:

WN1: Calculation of Payment made to Henry

 


WN2: Calculation of Payment made to Amit

 
 

*Note: Cash discount can be availed only if the payment is made within 15 days. Since payment is made on Feb. 15, thus, no discount is to be allowed to her.



Page No 9.60:

Question 10:

Record the following transactions in the Journal of Shyam Sunder & Sons :

2017    
April 1   Shyam Sunder & Sons started business with Cash ₹75,000; Goods ₹30,000 and Furniture ₹5,000.
2   Sold goods to Bhushan of the list price of ₹10,000 at trade discount of 10%.
5   Bhushan returned goods of the list price of ₹1,000.
10   Received from Bhushan ₹8,000 in full settlement of his account.
12   Purchased Furniture for ₹6,000.
    Purchased goods from Navin for ₹25,000 less trade discount 12%
15   Returned goods to Navin goods of the list price of ₹2,000
16   Cleared the account of Navin by applying cash, under a discount of 5%
17   Sold goods to Ajay ₹10,000 and Vijay ₹16,000.
20   Received cash from Ajay ₹9,800 in full settlement of his account.
    Paid insurance premium ₹750.
22   Paid for Shyam Sunder's Life Insurance Premium ₹1,200.
24   Purchased goods for ₹8,000 for cash at a trade discount of 10% and cash discount of 2%.
25   Received cash from Vijay at aa cash discount of 5% in full settlement of his account.
30   Paid Rent ₹800; Advertisement ₹1,000; and Salaries ₹4,000.
30   Received Commission ₹500.

Answer:

Journal
In the Books of Shyam Sunder & Sons
Date Particulars L.F. Debit Amount (Rs) Credit Amount (Rs)
2017          
Apr. 01 Cash A/c Dr.   75,000  
  Stock A/c Dr.   30,000  
  Furniture A/c Dr.   5,000  
 
To Capital A/c
      1,10,000
  (Business started with cash, goods and furniture)      
           
Apr. 02 Bhushan’s A/c Dr.   9,000  
 
To Sales A/c
      9,000
  (Goods sold to Bhushan deducting trade discount)      
           
Apr. 05 Sales Return A/c Dr.   900  
 
To Bhushan’s A/c
      900
  (Goods returned by Bhushan deducting trade discount)      
           
Apr. 10 Cash A/c Dr.   8,000  
  Discount Allowed A/c Dr.   100  
 
To Bhushan’s A/c
      8,100
  (Cash received from Bhushan in full settlement)      
           
Apr. 12 Furniture A/c Dr.   6,000  
 
To Cash A/c
      6,000
  (Furniture purchased for cash)        
           
Apr. 12 Purchases A/c Dr.   22,000  
 
To Navin’s A/c
      22,000
  (Goods purchased from Navin on credit)      
           
Apr. 15 Navin’s A/c Dr.   1,760  
 
To Purchases Return A/c
      1,760
  (Goods returned to Navin)        
           
Apr. 16 Navin’s A/c Dr.   20,240  
 
To Cash A/c
      19,228
 
To Discount Received A/c
      1,012
  (Cash paid to Navin in full settlement)        
           
Apr. 17 Ajay’s A/c Dr.   10,000  
  Vijay’s A/c Dr.   16,000  
 
To Sales A/c
      26,000
  (Goods sold to Ajay and Vijay)        
           
Apr. 20 Cash A/c Dr.   9,800  
  Discount Allowed A/c Dr.   200  
 
To Ajay’s A/c
      10,000
  (Cash received from Ajay in full settlement)        
           
Apr. 20 Insurance A/c Dr.   750  
 
To Cash A/c
      750
  (Paid insurance premium)        
           
Apr. 22 Drawings A/c Dr.   1,200  
 
To Cash A/c
      1,200
  (Paid for proprietor’s life insurance premium)      
           
Apr. 24 Purchases Dr.   7,200  
 
To Cash A/c
      7,056
 
To Discount Received A/c
      144
  (Goods purchased for cash at a discount of 2%)      
           
Apr. 25 Cash A/c Dr.   15,200  
  Discount Allowed A/c Dr.   800  
 
To Vijay’s A/c
      16,000
  (Cash received in full settlement)        
           
Apr. 30 Rent A/c Dr.   800  
  Advertisement A/c Dr.   1,000  
  Salaries A/c Dr.   4,000  
 
To Cash A/c
      5,800
  (Expenses paid)        
           
Apr. 30 Cash A/c Dr.   500  
 
To Commission A/c
      500
  (Commission received)        
  TOTAL   2,45,450 2,45,450
         

Page No 9.60:

Question 11:

Journalise the following transactions :

2017    
Jan. 1   Paid into bank for opening a Current Account 10,000
3   Goods sold for ₹50,000 and the amount was deposited into the bank  
7   Amount withdrawn from bank 20,000
10   Goods sold for Cash 15,000
12   Amount deposited into bank 12,000
14   Goods purchased and payment made by cheque. 25,000

Answer:

Journal
In the Books of …
Date Particulars L.F. Debit Amount (Rs) Credit Amount (Rs)
2017          
Jan. 01 Bank A/c Dr.   10,000  
 
To Cash A/c
      10,000
  (Payment made to open current account)        
           
Jan. 03 Bank A/c Dr.   50,000  
 
To Sales A/c
      50,000
  (Goods sold and amount deposited into bank)        
           
Jan. 07 Cash A/c Dr.   20,000  
 
To Bank A/c
      20,000
  (Cash withdrawn from Bank)        
           
Jan. 10 Cash A/c Dr.   15,000  
 
To Sales A/c
      15,000
  (Goods sold for cash)        
           
Jan. 12 Bank A/c Dr.   12,000  
 
To Cash A/c
      12,000
  (Cash deposited into bank)        
           
Jan. 14 Purchases A/c Dr.   25,000  
 
To Bank A/c
      25,000
  (Goods purchased and payment made by cheque)        
  TOTAL   1,32,000 1,32,000
         

Page No 9.60:

Question 12(A):

Following balances appeared in the books of Radhika Traders as on 1st April 2017:−
Assets: Cash ₹8,000; Cash at Bank ₹7,000; Stock ₹30,000; Debtors : ₹25,000 (Mohan ₹10,000; Sohan ₹12,000; Dinesh ₹14,000); Furniture ₹5,000; Building ₹25,000.
In April, 2017, the following transaction took place:
2017    
April 2   Bought goods of the list price of ₹ 6,000 from Khanna Brothers less 15% trade discount and 2% cash discount and paid 40% price at the same time.  
3   Received a draft from Mohan in full settlement and deposited it into Bank 9,750
5   Purchased goods from Suresh of the list price of ₹8,000 at 20% trade discount and paid him by cheque.  
8   Sold goods and received a cheque 25,000
10   Deposited the above cheque into Bank  
12   Sohan deposited in our Bank A/c 4,000
16   Paid Income Tax 5,600
20   Received a cheque from Sohan and sent to Bank 7,800
    Discount allowed 200
21   Withdrew from Bank−for office 2,000
   
For private use
4,000
23   Sent a cheque to X in full settlement of his A/c 4,900
27   Cheque of Sohan returned by the bank as dishonoured.  
28   Dinesh was declared insolvent and a payment of 60 paise in a ₹ received from his estate  
30   Bank allowed Interest 350
    Paid for rent by cheque 1,500
    Paid for traveling expenses by cheque 500
Pass Journal entries for the above transactions.

Answer:

Journal
In the Books of Radhika Traders
Date Particulars L.F. Debit Amount (Rs) Credit Amount (Rs)
2017          
April 01 Cash in Hand A/c Dr.   8,000  
  Cash at Bank A/c Dr.   7,000  
  Stock A/c Dr.   30,000  
  Mohan’s A/c Dr.   10,000  
  Sohan’s A/c Dr.   12,000  
  Dinesh’s A/c Dr.   14,000  
  Furniture A/c Dr.   5,000  
  Building A/c Dr.   25,000  
    To X’s A/c       5,000
    To Y’s A/c       6,000
    To Capital A/c (Balancing figure)       1,00,000
  (Balances of previous year brought forward)      
           
April 02 Purchases A/c Dr.   5,100  
    To Khanna Brothers       3,060
    To Cash A/c       1,999
    To Discount Received A/c       41
  (Goods purchased and received discount on cash payment)      
           
April 03 Bank A/c Dr.   9,750  
  Discount Allowed A/c Dr.   250  
    To Mohan       10,000
  (Draft received from Mohan deposited into bank)      
           
April 05 Purchases A/c Dr.   6,400  
    To Bank A/c       6,400
  (Goods purchased and payment made by cheque)      
           
April 08 Cheques-in-Hand A/c Dr.   25,000  
    To Sales A/c       25,000
  (Goods sold and received a cheque)        
           
April 10 Bank A/c Dr.   25,000  
    To Cheques-in-Hand A/c       25,000
  (Cheque deposited into bank)        
           
April 12 Bank A/c Dr.   4,000  
    To Sohan’s A/c       4,000
  (Amount deposited by Sohan)        
           
April 16 Drawings A/c Dr.   5,600  
    To Cash A/c       5,600
  (Income tax paid)        
           
April 20 Bank A/c Dr.   7,800  
  Discount Allowed A/c Dr.   200  
    To Sohan’s A/c       8,000
  (Banked cash received from Sohan in full settlement)      
           
April 21 Drawings A/c Dr.   4,000  
  Cash A/c Dr.   2,000  
    To Bank A/c       6,000
  (Amount withdrawn for office and personal use)      
           
April 23 X Dr.   5,000  
    To Bank A/c       4,900
    To Discount Received A/c       100
  (Cheque issued to X in full settlement of his account)      
           
April 27 Sohan’s A/c Dr.   8,000  
    To Bank A/c       7,800
    To Discount Allowed A/c       200
  (Cheque received from Sohan gets dishonoured)