Accountancy Dk Goel 2019 Solutions for Class 11 Commerce Accountancy Chapter 3 Books Of Original Entry Journal are provided here with simple step-by-step explanations. These solutions for Books Of Original Entry Journal are extremely popular among Class 11 Commerce students for Accountancy Books Of Original Entry Journal Solutions come handy for quickly completing your homework and preparing for exams. All questions and answers from the Accountancy Dk Goel 2019 Book of Class 11 Commerce Accountancy Chapter 3 are provided here for you for free. You will also love the ad-free experience on Meritnation’s Accountancy Dk Goel 2019 Solutions. All Accountancy Dk Goel 2019 Solutions for class Class 11 Commerce Accountancy are prepared by experts and are 100% accurate.

Page No 9.59:

Question 1:

Enter the following transactions in the Journal of Manohar Lal & Sons.:-

2019  
March 1  Manohar Lal & Sons started business with cash 60,000
2  Purchased furniture for cash 10,000
4  Purchased goods for cash 25,000
5  Bought goods from Kamlesh 15,000
10  Paid cash to Kamlesh 15,000
16  Purchased goods from Sohan 6,000
18  Purchased goods from Sohan for cash 8,000
20  Paid rent for the office 1,000

Answer:

Journal
In the Books of Manohar Lal
Date Particulars L.F. Debit Amount (₹) Credit Amount (₹)
2019          
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. 10 Kamlesh’s A/c Dr.   15,000  
 
To Cash A/c
      15,000
  (Cash  paid to Kamlesh)        
           
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)        
TOTAL   1,40,000 1,40,000
       

 



Page No 9.60:

Question 2:

Enter the following transactions in the Journal of M/s Tripathi Bros. :-

2019  
Jan. 6  Sold goods for cash 36,000
8  Sold goods to Hari 30,000
14  Received cash from Hari 18,000
26  Received Commission 750
27  Paid Salary to Gopal  1,200
28  Received cash from Hari 12,000
29  Withdrew cash from office for personal use 4,000
30  Wages paid 7,200
30  Bought Machinery for Cash 8,000

Answer:

Journal

Date

Particulars

L.F.

Debit

Amount

(₹)

Credit

Amount

(₹)

2019

 

 

 

 

 

Jan 06

Cash A/c

Dr.

 

36,000

 

 

  To Sales A/c

 

 

 

36,000

 

(Sold goods for cash)

 

 

 

 

 

 

 

 

 

 

Jan 08

Hari A/c

Dr.

 

30,000

 

 

  To Sales A/c

 

 

 

30,000

 

(Sold goods to Hari)

 

 

 

 

 

 

 

 

 

 

Jan 14

Cash A/c

Dr.

 

18,000

 

 

  To Hari A/c

 

 

 

18,000

 

(Received cash from Hari)

 

 

 

 

 

 

 

 

 

 

Jan 26

Cash A/c

Dr.

 

750

 

 

  To Commission A/c

 

 

 

750

 

(Received commission)

 

 

 

 

 

 

 

 

 

 

Jan 27

Salary A/c

Dr.

 

1,200

 

 

  To Cash A/c

 

 

 

1,200

 

(Paid salary to Gopal)

 

 

 

 

 

 

 

 

 

 

Jan 28

Cash A/c

Dr.

 

12,000

 

 

  To Hari A/c

 

 

 

12,000

 

(Received cash from Hari)

 

 

 

 

 

 

 

 

 

 

Jan 29

Drawings A/c

Dr.

 

4,000

 

 

  To Cash A/c

 

 

 

4,000

 

(Drew cash for personal use)

 

 

 

 

 

 

 

 

 

 

Jan 30

Wages A/c

Dr.

 

7,200

 

 

  To Cash A/c

 

 

 

7,200

 

(Paid wages)

 

 

 

 

 

 

 

 

 

 

Jan 30

Machinery A/c

Dr.

 

8,000

 

 

  To Cash A/c

 

 

 

8,000

 

(Purchased machinery)

 

 

 

 

 

 

 

 

1,17,150

1,17,150

 

 

 

 

 

 

Page No 9.60:

Question 3:

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

2018    
October 1 Purchased goods from Anil for Cash 40,000
  3 Purchased goods from Atul 75,000
  6 Returned goods to 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 () Credit Amount ()
2018          
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 9.60:

Question 4:

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 9.60:

Question 5:

Pass Journal entries in the books of Hari Shankar & Co. from the following:

2017  
April 1  Commenced business with cash 50,000
2  Purchased goods from Subhash 20,000
4  Sold goods to Ramnath 15,000
6  Ramnath returned defective goods 1,000
10  Received cash from Ramnath and 13,800
   Discount allowed 200
12  Gopal sold goods to us 10,000
14  Paid to Gopal in full settlement of his account after deducting 5% discount.  
15  Paid Rent 10,000
16  Paid Rent of Hari Shankar's residence 5,000
18  Purchased goods for cash from Govind for ₹ 6,000 at 20% trade discount.  
20  Purchased goods from Govind for ₹ 10,000 at 20% trade discount.  
24  Paid to Govind ₹ 7,850 in full settlement of his account.  
25  Paid to Subhash ₹ 4,750; discount received ₹ 250.  
30  Paid Wages ₹ 400; Salaries ₹ 4,000; Advertisement expenses ₹ 800 and Trade expenses ₹ 1,000.  

Answer:

Journal
In the Books of Hari Shankar & Co.
Date Particulars L.F. Debit Amount (₹) Credit Amount (₹)
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.   10,000  
 
To Cash A/c
      10,000
  (Rent paid)        
           
Apr. 16 Drawings A/c Dr.   5,000  
 
To Cash A/c
      5,000
  (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   1,67,000 1,67,000
         

 



Page No 9.61:

Question 6:

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 9.61:

Question 7:

Pass Journal Entries for the following transactions:

2017    
Jan 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 9.61:

Question 8:

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 goods 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 9.62:

Question 9:

Pass Journal entries in the books of Raghunath Bros. from the following transactions:-

2016  
June 01 Raghunath Bros. started business with cash ₹ 80,000; Goods ₹ 40,000 and furniture ₹ 20,000.
June 02 Sold goods to Nandlal of the list price of ₹ 20,000 at trade discount of 10%.
June 04 Nandlal returned goods of the list price of ₹ 4,000.
June 08 Received from Nandlal ₹ 14,150 in full settlement of his account.
June 10 Purchased goods from Brij Mohan of the list price of ₹ 10,000 at 15% trade discount.
June 13 Returned goods to Brij Mohan of the list price of ₹ 1,000.
June 16 Settled the account of Brij Mohan by paying cash, under a discount of 4%.
June 18 Purchased goods from Anil ₹ 5,000; Sunil ₹ 10,000.
June 19 Paid cash to Anil ₹ 1,900 and discount received ₹ 100.
June 20 Paid ₹ 9,800 to Sunil in full settlement of his account.
June 20 Bought a 'Table Fan' for ₹ 8,000 for the domestic use of Raghunath.
June 25 Sold goods for cash of the list price of ₹ 8,000 at 10% trade discount and 3% cash discount.
June 30 Paid Rent ₹ 8,000; Trade Expenses ₹ 7,000 and Travelling Expenses ₹ 3,800.

Answer:

Journal
In the books of Raghunath Bros.
Date
Particulars
L.F.
Debit
Amount
(₹)
Credit
Amount
(₹)
2016
 
 
 
 
 
June 01
Cash A/c
Dr.
 
80,000
 
 
Stock A/c
Dr.
 
40,000
 
 
Furniture A/c
Dr.
 
20,000
 
 
  To Capital A/c
 
 
 
1,40,000
 
(started business with cash, goods and furniture)
 
 
 
 
 
 
 
 
 
 
June 02
Nandlal
Dr.
 
18,000
 
 
  To Sales A/c
 
 
 
18,000
 
(goods sold to Nandlal @ 10% Trade discount)
 
 
 
 
 
 
 
 
 
 
June 04
Sales return A/c
Dr.
 
3,600
 
 
  To Nandlal
 
 
 
3,600
 
(goods sold to Nandlal returned)
 
 
 
 
 
 
 
 
 
 
June 08
Cash A/c
Dr.
 
14,150
 
 
Discount allowed A/c
Dr.
 
250
 
 
  To Nandlal
 
 
 
14,400
 
(cash received from Nandlal in full settlement)
 
 
 
 
 
 
 
 
 
 
June 10
Purchases A/c
Dr.
 
8,500
 
 
  To Brij Mohan
 
 
 
8,500
 
(purchased goods from Brij Mohan on credit)
 
 
 
 
 
 
 
 
 
 
June 13
Brij Mohan
Dr.
 
850
 
 
  To Purchase Return A/c
 
 
 
850
 
(purchased goods returned by Brij Mohan)
 
 
 
 
 
 
 
 
 
 
June 16
Brij Mohan
Dr.
 
7,650
 
 
  To discount received A/c
 
 
 
306
 
  To Cash A/c
 
 
 
7,344
 
(settled amount due to Brij Mohan)
 
 
 
 
 
 
 
 
 
 
June 18
Purchases A/c
Dr.
 
15,000
 
 
  To Anil
 
 
 
5,000
 
  To Sunil
 
 
 
10,000
 
(credit purchase from Anil & Sunil)
 
 
 
 
 
 
 
 
 
 
June 19
Anil
 
 
2,000
 
 
  To discount received A/c
 
 
 
100
 
  To Cash A/c
 
 
 
1,900
 
(cash paid to Anil and received discount)
 
 
 
 
 
 
 
 
 
 
June 20
Sunil
Dr.
 
10,000
 
 
  To discount received A/c
 
 
 
200
 
  To Cash A/c
 
 
 
9,800
 
(cash paid to Sunil and received discount)
 
 
 
 
 
 
 
 
 
 
June 20
Drawings A/c
Dr.
 
8,000
 
 
  To Cash A/c
 
 
 
8,000
 
(table fan purchased for personal use)
 
 
 
 
 
 
 
 
 
 
June 25
Cash A/c
 
 
6,984
 
 
Discount allowed A/c
 
 
216
 
 
  To Sales A/c
 
 
 
7,200
 
(cash sales @10% TD & @5% Cash Discount)
 
 
 
 
 
 
 
 
 
 
June 30
Rent A/c
Dr.
 
8,000
 
 
Trade expenses A/c
Dr.
 
7,000
 
 
Travelling A/c
Dr.
 
3,800
 
 
  To Cash A/c
 
 
 
18,800
 
(expenses paid in cash)
 
 
 
 
 
TOTAL
 
 
2,54,000
2,54,000
 
 
 
 
 
 

Page No 9.62:

Question 10:

Journalise the following transactions:

2019    
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

(₹)

Credit

Amount

(₹)

2019

 

 

 

 

 

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 9.62:

Question 11:

Pass journal entries for the following:

2019    
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 (₹) Credit Amount (₹)
2019          
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 9.63:

Question 12:

Journalise the following transactions in the books of Dixit & Sons. :

2018  
March 2 Sold goods to Dilip of the list price of ₹ 62,000 for ₹ 60,000.
16 Purchased goods costing ₹ 2,00,000 from Hari & Co. Paid 75% immediately by cheque to avail 4% discount.
20 Sold goods to Vishal Traders costing ₹ 40,000 at 25% profit, allowing 10% trade discount and 10% cash discount. Received 80% payment immediately by cheque.
26 Sold goods to Brij & Co. costing ₹ 50,000 at 40% profit, allowing 10% trade discount and 5% cash discount. Brij & Co. paid the full amount by cheque and availed cash discount.

Answer:

Journal

Date

Particulars

L.F.

Debit

Amount

(₹)

Credit

Amount

(₹)

2018

 

 

 

 

 

Mar 02

Dixit A/c
  To Sales A/c

Dr.

 

60,000


60,000

 

(Sold to Dixit)

 

 

 

 

 

 

 

 

 

 

Mar 16

Purchases A/c

Dr.

 

2,00,000

 

 

  To Hari & Co.

 

 

 

50,000

 

  To Bank A/c

 

 

 

1,44,000

 

  To Discount Received A/c

 

 

 

6,000

 

(Purchased from Hari & Co., 75% paid through cheque and partly credit)

 

 

 

 

 

 

 

 

 

 

Mar 20

Bank A/c

Dr.

 

9,000

 

 

Vishal Traders A/c

Dr.

 

32,400

 

 

Discount Allowed A/c

Dr.

 

3,600

 

 

  To Sales A/c

 

 

 

45,000

 

(Sold to Vishal Traders, partly received through cheque and partly credit)

 

 

 

 

 

 

 

 

 

 

Mar 26

Bank A/c

Dr.

 

59,850

 

 

Discount Allowed A/c

Dr.

 

3,150

 

 

  To Sales A/c

 

 

 

63,000

 

(Sold to Brij & Co., received fully through cheque)

 

 

 

 

 

 

 

 

3,68,000

3,68,000

 

 

 

 

 

 


 

Page No 9.63:

Question 13:

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 9.63:

Question 14(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 : ₹ 36,000 (Mohan ₹ 10,000; Sohan ₹ 12,000; Dinesh ₹ 14,000); Furniture ₹ 5,000; Building ₹ 25,000.
Liabilities: Creditors− X ₹ 5,000; Y ₹ 6,000. 
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 by Cheque 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 by a Cheque  
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