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Page No 8.68:

Question 1:

Following transactions of Ramesh for April, 2019 are given below. Journalise them.
 

2019  
April 1  Ramesh started business with cash 1,00,000
April 2  Paid into bank 20,000
April 3  Bought goods for cash 50,000
April 4  Drew cash from bank for office use 10,000
April 13  Sold goods to Krishna 15,000
April 20  Bought goods from Shyam 22,500
April 22  Krishna returned goods 2,000
April 24  Received from Krishna 12,500
   Allowed him discount 500
April 28  Paid cash to Shyam 21,500
   Discount received  1,000
April 30  Cash sales for the month 80,000
April 30  Paid rent 5,000
April 30  Paid salary 10,000
     

Answer:

Journal
Date
Particulars
L.F.
Debit
Amount
(₹)
Credit
Amount
(₹)
2019
 
 
 
 
 
Apr 01
Cash A/c
Dr.
 
1,00,000
 
 
  To Capital A/c
 
 
 
1,00,000
 
(Started business with cash)
 
 
 
 
 
 
 
 
 
 
Apr 02
Bank A/c
Dr.
 
20,000
 
 
  To Cash A/c
 
 
 
20,000
 
(Paid into bank)
 
 
 
 
 
 
 
 
 
 
Apr 03
Purchases A/c
Dr.
 
50,000
 
 
To Cash A/c
 
 
 
50,000
 
(Goods purchased)
 
 
 
 
 
 
 
 
 
 
Apr 04
Cash A/c
Dr.
 
10,000
 
 
  To Bank A/c
 
 
 
10,000
 
(Drew from bank for office use)
 
 
 
 
 
 
 
 
 
 
Apr 13
Cash A/c
Dr.
 
15,000
 
 
  To Sales A/c
 
 
 
15,000
 
(Goods sold to Kirshna for Cash)
 
 
 
 
 
 
 
 
 
 
Apr 20
Purchases A/c
Dr.
 
22,500
 
 
To Cash A/c
 
 
 
22,500
 
(Goods purchased for cash)
 
 
 
 
           
Apr 22 Sales Return A/c Dr.   2,000  
    To Cash A/c       2,000
  (Goods sold to Krishna returned)        
 
 
 
 
 
 
Apr 24
Cash A/c
Dr.
 
12,500
 
 
Discount Allowed A/c
Dr.
 
500
 
 
  To Krishna A/c
 
 
 
13,000
 
(Received from Krishna)
 
 
 
 
 
 
 
 
 
 
Apr 28
Shyam A/c
Dr.
 
22,500
 
 
  To Cash A/c
 
 
 
21,500
 
  To Discount Received A/c
 
 
 
1,000
 
(Paid to Shyam)
 
 
 
 
 
 
 
 
 
 
Apr 30
Cash A/c
Dr.
 
80,000
 
 
  To Sales
 
 
 
80,000
 
(Cash sales for the month of April)
 
 
 
 
 
 
 
 
 
 
Apr 30
Rent A/c
Dr.
 
5,000
 
 
  To Cash A/c
 
 
 
5,000
 
(Paid rent)
 
 
 
 
 
 
 
 
 
 
Apr 30
Salary A/c
Dr.
 
10,000
 
 
  To Cash A/c
 
 
 
10,000
 
(Paid salary)
 
 
 
 



Page No 8.69:

Question 2:

Journalise the following transactions of Mr. Rahul:

2019  
Jan. 1  Rahul started business with cash  1,00,000
Jan. 2  Paid into bank  60,000
Jan. 3  Bought goods from M/s. Singh & Co. 20,000
Jan. 3  Paid cartage  300
Jan. 4  Purchased furniture 2,000
Jan. 4  Placed an order for HP Printers for ₹ 15,000, amount advanced  5,000
Jan. 4  Purchased calculator 1,000
Jan. 4  Purchased computer through cheque 13,000
Jan. 6  Paid for postage 150
Jan. 8   Sold goods for cash 4,000
Jan. 9  Sold goods to M/s. Sharda & Co. 10,000
Jan. 9  Paid cartage 200
Jan. 15  Paid to M/s Singh & Co. on account  17,500
Jan. 25  Sold goods to M/s. Ray & Co. 5,600
Jan. 27  Received cheque from M/s. Sharda & Co. in full settlement of amount due from them 9,750
Jan. 31   Paid for electricity charges  1,000
Jan. 31  Paid salary 1,500
Jan. 31 ​ Paid rent of building by cheque, half of the building is used by the proprietor for residential use  5,000
Jan. 31  Drew for private use 3,500

Answer:

Journal

Date

Particulars

L.F.

Debit

Amount

(Rs)

Credit

Amount

(Rs)

2019

 

 

 

 

 

Jan.01

Cash A/c

Dr.

 

1,00,000

 

 

     To Capital A/c

 

 

 

1,00,000

 

(Business started with cash)

 

 

 

 

 

 

 

 

 

 

Jan.02

Bank A/c

Dr.

 

60,000

 

 

    To Cash A/c

 

 

 

60,000

 

(Cash deposited into cash)

 

 

 

 

 

 

 

 

 

 

Jan.03

Purchases A/c

Dr.

 

20,000

 

 

     To Cash A/c

 

 

 

20,000

 

(Goods purchased for cash)

 

 

 

 

 

 

 

 

 

 

Jan.03

Cartage A/c

Dr.



 

300

 

 

  To Cash A/c

 

 

 

300

 

(Cartage paid)

 

 

 

 

 

 

 

 

 

 

Jan.04

Furniture A/c

Dr.

 

2,000

 

 

    To Bank A/c

 

 

 

2,000

 

(Furniture purchased by cheque)

 

 

 

 

 

 

 

 

 

 

Jan.04

HP Printers A/c

Dr.

 

5,000

 

 

     To Bank A/c

 

 

 

5,000

 

(Advance paid for placing an order for printer)

 

 

 

 

 

 

 

 

 

 

Jan.04

Office Equipments A/c

Dr.

 

1,000

 

 

     To Bank A/c

 

 

 

1,000

 

(Calculator purchased by cheque)

 

 

 

 

 

 

 

 

 

 

Jan.04

Computer A/c

 

 

13,000

 

 

     To Bank A/c

 

 

 

13,000

 

(Computer purchased by cheque)

 

 

 

 

 

 

 

 

 

 

Jan.06

Postage A/c

Dr.

 

150

 

 

    To Cash A/c

 

 

 

150

 

(Postage paid)

 

 

 

 

 

 

 

 

 

 

Jan.08

Cash A/c

Dr.

 

4,000

 

 

    To Sales A/c

 

 

 

4,000

 

(Goods Sold)

 

 

 

 

 

 

 

 

 

 

Jan.09

Cash A/c

Dr.

 

10,000

 

 

    To Sales A/c

 

 

 

10,000

 

(Goods Sold)

 

 

 

 

 

 

 

 

 

 

Jan.09

Cartage A/c

Dr.

 

200

 

 

    To Cash A/c

 

 

 

200

 

(Cartage paid)

 

 

 

 

 

 

 

 

 

 

Jan.15

M/s Singh & Co. A/c

Dr.

 

17,500

 

 

    To Cash A/c

 

 

 

17,500

 

(Payment made)

 

 

 

 

 

 

 

 

 

 

Jan.25

M/s Ray & Co.  A/c

Dr.

 

5,600

 

 

    To Sales A/c

 

 

 

5,600

 

(Goods Sold)

 

 

 

 

 

 

 

 

 

 

Jan.27

Bank A/c

Dr.

 

9,750

 

 

Discount Allowed A/c

Dr.

 

250

 

 

    To M/s Sharda & Co.  A/c

 

 

 

10,000

 

(Payment Received)

 

 

 

 

 

 

 

 

 

 

Jan.31

Electricity Charges A/c

Dr.

 

1,000

 

 

    To Cash A/c

 

 

 

1,000

 

(Electricity Charges paid)

 

 

 

 

 

 

 

 

 

 

Jan.31

Salary A/c

Dr.

 

1,500

 

 

    To Cash A/c

 

 

 

1,500

 

(Salary paid)

 

 

 

 

 

 

 

 

 

 

Jan.31

Rent A/c

Dr.

 

2,500

 

 

Drawings A/c

Dr.

 

2,500

 

 

    To Cash A/c

 

 

 

5,000

 

(Rent paid)

 

 

 

 

 

 

 

 

 

 

Jan.31

Drawings A/c

Dr.

 

3,500

 

 

    To Cash A/c

 

 

 

3,500

 

(Cash withdrawn for personal use)

 

 

 

 

 

 

 

 

 

Page No 8.69:

Question 3:

Journalise the following transactions in the books of M/s. R.K. & Co.:
(i) Purchased goods of list price of ₹ 20,000 from Vishal at 20% trade discount against cheque payment.
(ii) Purchased goods of list price of ₹ 20,000 from Naman at 15% trade discount against cash.
(iii) Purchased goods of list price of ₹ 30,000 from Amrit at 20% trade discount.
(iv) Purchased goods of list price of ₹ 40,000 for ₹ 35,000 for cash.
(v) Goods returned of list price ₹ 10,000 purchased from Amrit.
(vi) Sold goods to Parul of list price of ₹ 40,000 at 10% trade discount against cheque payment.
(vii) Sold goods to Aman of list price of ₹ 30,000 at 10% trade discount against cash.
(viii) Sold goods to Pawan of list price of ₹ 20,000 at 10% trade discount.
(ix) Sold goods to Yamini of list price of ₹ 25,000 for ₹ 23,000.
(x) Sold goods costing ₹ 10,000 at cost plus 20% less 10% trade discount to Bhupesh.
(xi) Sold goods purchased at list price of ₹ 50,000 less 15% trade discount sold at a profit of 25% less 10% trade discount against cheque.
(xii) Aman returned goods of list price of ₹ 10,000 sold to him at 10% trade discount.

Answer:

Journal

Date

Particulars

L.F.

Debit

Amount

(Rs)

Credit

Amount

(Rs)

 

 

 

 

 

 

(i)

Purchase A/c

Dr.

 

16,000

 

 

    To Bank A/c

 

 

 

16,000

 

(Goods purchased from Vishal by cheque)

 

 

 

 

 

 

 

 

 

 

(ii)

Purchase A/c

Dr.

 

17,000

 

 

    To Cash A/c

 

 

 

17,000

 

(Goods purchased from Naman for cash)

 

 

 

 

 

 

 

 

 

 

(iii)

Purchase A/c

Dr.

 

24,000

 

 

    To Amrit

 

 

 

24,000

 

(Goods purchased from Amrik on credit)

 

 

 

 

 

 

 

 

 

 

(iv)

Purchase A/c

Dr.

 

35,000

 

 

    To Cash A/c

 

 

 

35,000

 

(Goods purchased for cash)

 

 

 

 

 

 

 

 

 

 

(v)

Amrit

Dr.

 

8,000

 

 

   To Purchase Returns A/c

 

 

 

8,000

 

(Goods returned by Amrik)

 

 

 

 

 

 

 

 

 

 

(vi)

Bank A/c

Dr.

 

36,000

 

 

   To Sales A/c

 

 

 

36,000

 

(Goods sold to Parul by cheque)

 

 

 

 

 

 

 

 

 

 

(vii)

Cash A/c

Dr.

 

27,000

 

 

   To Sales A/c

 

 

 

27,000

 

(Goods sold to Aman for cash)

 

 

 

 

 

 

 

 

 

 

(viii)

Pawan

Dr.

 

18,000

 

 

   To Sales A/c

 

 

 

18,000

 

(Goods sold to Pawan on credit)

 

 

 

 

 

 

 

 

 

 

(ix)

Yamini 

Dr.

 

23,000

 

 

   To Sales A/c

 

 

 

23,000

 

(Goods sold to Yamini on credit)

 

 

 

 

 

 

 

 

 

 

(x)

Bhupesh 

Dr.

 

10,800

 

 

   To Sales A/c

 

 

 

10,800

 

(Goods sold to Bhupesh on credit)

 

 

 

 

 

 

 

 

 

 

(xi)

Bank A/c

Dr.

 

47,812.50

 

 

   To Sales A/c

 

 

 

47,812.50

 

(Goods sold against cheque)

 

 

 

 

 

 

 

 

 

 

(xii)

Sales Returns A/c

Dr.

 

9,000

 

 

   To Aman

 

 

 

9,000

 

(Goods returned by Aman )

 

 

 

 

 

 

 

 

 

 

Working Notes:

WN1: Calculation of Sales price

Sales Price = (10,000+20%=12,00010%)=Rs 10,800

WN 2: Calculation of Purchase price and Sales price 

Purchase Price =(50,00015%) Rs 42,500Sales Price =(42,500+25%=53,12510%)=Rs 47,812.5

Page No 8.69:

Question 4:

Journalise the following transactions in the books of Bhushan Agencies:
(i) Received from Bharat cash ₹ 20,000, allowed him discount of ₹ 500.
(ii) Received from Vikas ₹ 35,000 by cheque, allowed him discount of ₹ 750.
(iii) Received from Akhil ₹ 38,000 in settlement of his dues of ₹ 40,000 in cash.
(iv) Received from Amrit ₹ 50,000 by cheque on account against dues of ₹ 60,000.
(v) Paid cash ₹ 40,000 to suresh, availed discount of 2%.
(vi) Paid by cheque ₹ 25,000 to Mehar and settled her dues of ₹ 26,000.
(vii) Paid ₹ 25,000 to Yogesh by cheque on account.
(viii) Purchased goods costing ₹ 1,00,000 against cheque and availed discount of 3%.
(ix) Purchased goods costing ₹ 60,000 from Akash & Co., paid 50% immediately availing 3% discount.
(x) Sold goods of ₹ 30,000 against cheque allowing 2% discount.
(xi) Sold goods of ₹ 60,000 to Vimal received 50% of due amount allowing 2% discount.

Answer:

Journal

Date

Particulars

L.F.

Debit

Amount

(Rs)

Credit

Amount

(Rs)

 

 

 

 

 

 

(i)

Cash A/c

Dr.

 

20,000

 

 

Discount Allowed A/c

Dr.

 

500

 

 

     To Bharat

 

 

 

20,500

 

(Payment received from Bharat)

 

 

 

 

 

 

 

 

 

 

(ii)

Bank A/c

Dr.

 

35,000

 

 

Discount Allowed A/c

Dr.

 

750

 

 

     To Vikas

 

 

 

35,750

 

(Payment received from Vikas)

 

 

 

 

 

 

 

 

 

 

(iii)

Cash A/c

Dr.

 

38,000

 

 

Discount Allowed A/c

Dr.

 

2,000

 

 

     To Akhil

 

 

 

40,000

 

(Payment received from Akhil)

 

 

 

 

 

 

 

 

 

 

(iv)

Bank A/c

Dr.

 

50,000

 

 

     To Amrit

 

 

 

50,000

 

(Payment received from Amrit)

 

 

 

 

 

 

 

 

 

 

(v)

Suresh

Dr.

 

40,000

 

 

   To Cash A/c

 

 

 

39,200

 

   To Discount Received A/c

 

 

 

800

 

(Payment made to Suresh)

 

 

 

 

 

 

 

 

 

 

(vi)

Mehar

Dr.

 

26,000

 

 

   To Bank A/c

 

 

 

25,000

 

   To Discount Received A/c

 

 

 

1,000

 

(Payment made to Meher)

 

 

 

 

 

 

 

 

 

 

(vii)

Yogesh

Dr.

 

25,000

 

 

      To Bank A/c

 

 

 

25,000

 

(Payment made to Yogesh)

 

 

 

 

 

 

 

 

 

 

(viii)

Purchases A/c

Dr.

 

97,000

 

 

      To Bank A/c

 

 

 

97,000

 

(Goods bought against cheque)

 

 

 

 

 

 

 

 

 

 

(ix)

Purchases A/c

Dr.

 

60,000

 

 

    To Akash & Co.

 

 

 

30,000

 

    To Cash A/c

 

 

 

29,100

 

    To Discount Received A/c

 

 

 

900

 

(Goods bought from Akash & Co.)

 

 

 

 

 

 

 

 

 

 

(x)

Bank A/c

Dr.

 

29,400

 

 

     To Sales A/c

 

 

 

29,400

 

(Goods sold against cheque)

 

 

 

 

 

 

 

 

 

 

(xi)

Vimal

Dr.

 

30,000

 

 

Cash A/c

Dr.

 

29,400

 

 

Discount Allowed A/c

Dr.

 

600

 

 

     To Sales A/c

 

 

 

60,000

 

(Goods sold to Vimal)

 

 

 

 

 

 

 

 

 



Page No 8.70:

Question 5:

Journalise the following transactions:

     ₹
(i) Shyam became insolvent. A first and final compensation of 75 paise in a rupee was received from his Official Receiver. He owed us   10,000
(ii) Received cash for bad debts written off last year. 5,000
(iii) Rent due to landlord. 8,000
(iv) Salaries due to clerks. 10,000
(v) Placed an order with Rakesh Mohan for the supply of goods of the list price of ₹ 1,00,000. In this connection, Raman paid 10% of the list price as an advance by cheque.  

Answer:

Journal

Sr. No.

Particulars

L.F.

Debit

Amount

(Rs)

Credit

Amount

(Rs)

 

 

 

 

 

(i)

Cash A/c

Dr.

 

7,500

 

 

Bad Debts A/c

Dr.

 

2,500

 

 

To Shyam’s A/c

 

 

10,000

 

(Insolvency of Shyam with 75 paisa in a rupee recoverable)

 

 

 

 

 

 

 

 

(ii)

Cash A/c

Dr.

 

5,000

 

 

To Bad Debts Recovered A/c

 

 

5,000

 

(Amount written off as bad debts recovered)

 

 

 

 

 

 

 

 

(iii)

Rent A/c

Dr.

 

8,000

 

 

To Outstanding Rent A/c

 

 

8,000

 

(Rent due to landlord)

 

 

 

 

 

 

 

 

(iv)

Salary A/c

Dr.

 

10,000

 

 

To Outstanding Salary A/c

 

 

10,000

 

(Salary due to clerk)

 

 

 

 

 

 

 

 

(v)

Advance to Rakesh Mohan A/c

Dr.

 

10,000

 

 

To Bank A/c

 

 

10,000

 

(Advance paid to Rakesh Mohan for a future order)

 

 

 

 

 

 

 

 

Page No 8.70:

Question 6:

Journalise the following entries:
(i) Goods costing ₹ 500 given as charity.
(ii) Sold goods to Mayank of ₹ 1,00,000, payable 25% by cheque at the time of sale and balance after 30 days of sale.
(iii) Received ₹ 975 from Harikrishna in full settlement of his account of ₹ 1,000.
(iv) Received a first and final dividend of 60 paise in a rupee from the Official Receiver of Rajan, who owed us ₹ 1,000.
(v) Charge interest on Drawings ₹ 1,500.
(vi) Sold goods costing ₹ 40,000 to Anil for cash at a profit of 25% on cost less 20% trade discount and paid cartage ₹ 100, which is not to be charged from customer.

Answer:

Journal
Sr. No.
Particulars
L.F.
Debit
Amount
(₹)
Credit
Amount
(₹)
(i)
Charity A/c
Dr.
 
500
 
 
To Purchases A/c  
 
500
 
(Goods given as charity)  
 
 
         
(ii) Bank A/c Dr.   25,000  
  Mayank A/c Dr.   75,000  
     To Sales A/c     1,00,000
  (Goods sold partly through cheque and partly through credit)      
 
   
 
 
(iii)
Cash A/c
Dr.
 
975
 
 
Discount Allowed A/c
Dr.
 
25
 
 
To Harikrishna A/c  
 
1,000
 
(Cash received from Harikrishna in full and final settlement)  
 
 
 
   
 
 
(iv)
Cash A/c Dr.  
600
 
 
Bad Debts A/c Dr.  
400
 
 
To Rajan A/c  
 
1,000
 
(First and final dividend received from Rajan in full settlement of his debt)  
 
 
         
(v) Drawings A/c Dr.   1,500  
     To Interest on Drawings A/c     1,500
  (Interest on drawings charged)      
         
(vi) Cash A/c Dr.   40,000  
      To Sales A/c     40,000
  (Goods sold to Anil at 25% profit on cost and 20% Trade Discount)      
         
  Cartage A/c Dr.   100  
       To Cash A/c     100
  (Cartage paid)      
     
 
 

Page No 8.70:

Question 7:

Journalise the following transactions:
 

(a)

(b)
(c)
(d)
(e)
(f)
(g)
Shyam became insolvent. A first and final compensation of 75 paise in a rupee
 was received from his official receiver. He owed a debt of
 Received cash for a bad debt written off last year
 Rent due to landlord
 Depreciation on office furniture
 Salaries due to staff
 Paid income tax
 Received commission ₹ 25,000, half of which is in advance
 

50,000
25,000
40,000
5,000
50,000
1,50,000

 

Answer:

Journal
Date
Particulars
L.F.
Debit
Amount
(₹)
Credit
Amount
(₹)
(a)
Cash A/c
Dr.
 
37,500
 
 
Bad-Debts A/c
Dr.
 
12,500
 
 
  To Shyam A/c
 
 
 
50,000
 
 (75 paise in a rupee received from Shyam)
 
 
 
 
 
 
 
 
 
 
(b)
Cash A/c
Dr.
 
25,000
 
 
To Bad-Debts Recovered A/c
 
 
 
25,000
 
(Received cash against debts written off as bad earlier)
 
 
 
 
 
 
 
 
 
 
(c)
Rent A/c
Dr.
 
40,000
 
 
  To Rent Outstanding A/c
 
 
 
40,000
 
(Rent due)
 
 
 
 
 
 
 
 
 
 
(d)
Depreciation A/c
Dr.
 
5,000
 
 
  To Office Furniture A/c
 
 
 
5,000
 
(Depreciation on office furniture)
 
 
 
 
 
 
 
 
 
 
(e)
Salary A/c
Dr.
 
50,000
 
 
  To Salary Outstanding A/c
 
 
 
50,000
 
(Salary due)
 
 
 
 
 
 
 
 
 
 
(f)
Drawings A/c
Dr.
 
1,50,000
 
 
  To Cash A/c
 
 
 
1,50,000
 
(Paid income tax)
 
 
 
 
 
 
 
 
 
 
(g)
Cash A/c
Dr.
 
25,000
 
 
  To Commission A/c
 
 
 
12,500
 
  To Commission Received in Advance A/c
 
 
 
12,500
 
(Commission received, half of which is advance)
 
 
 
 

Page No 8.70:

Question 8:

Journalise the following transactions of Singh Enterprises, Delhi:

2018  
June 1 Started business with cash  50,000
June 2 Deposited cheque from Savings Account in firm's account 2,00,000
June 3 Received cash from Ram 50,000
June 4 Purchased goods for cash 15,000
June 11 Sold goods to M/s. Hari Sales, Delhi 12,000
June 13 Paid to Ramavtar 40,000
June 17 Received from M/s. Hari Sales 10,000
June 20 Bought furniture from S.R. Furnishers against Cash 22,400
June 27 Paid rent 28,000
June 30
 Paid salary
50,000

Answer:

Journal
Date
Particulars
L.F.
Debit
Amount
(₹)
Credit
Amount
(₹)
2018
 
 
 
 
 
June 01
Cash A/c
Dr.
 
50,000
 
 
  To Capital A/c
 
 
 
50,000
 
(Started business with cash)
 
 
 
 
 
 
 
 
 
 
June 02
Bank A/c
Dr.
 
2,00,000
 
 
  To Capital A/c
 
 
 
2,00,000
 
(Cheque from Savings A/c to Firm’s A/c)
 
 
 
 
 
 
 
 
 
 
June 03
Cash A/c
Dr.
 
50,000
 
 
  To Ram’s A/c
 
 
 
50,000
 
(Received cash)
 
 
 
 
 
 
 
 
 
 
June 04
Purchases A/c
Dr.
 
15,000
 
 
  To Cash A/c
 
 
 
15,000
 
(Goods purchased)
 
 
 
 
 
 
 
 
 
 
June 11
M/s Hari A/c
Dr.
 
12,000
 
 
  To Sales A/c
 
 
 
12,000
 
(Goods sold on credit)
 
 
 
 
 
 
 
 
 
 
June 13
Ramavtar’s A/c
Dr.
 
40,000
 
 
  To Cash A/c
 
 
 
40,000
 
(Paid cash to Ramavtar)
 
 
 
 
 
 
 
 
 
 
June 17
Cash A/c
Dr.
 
10,000
 
 
  To M/s Hari A/c
 
 
 
10,000
 
(Received cash from M/s Hari A/c)
 
 
 
 
 
 
 
 
 
 
June 20
Furniture A/c
Dr.
 
20,000
 
 
  To Cash A/c
 
 
 
20,000
 
(Bought furniture for cash)
 
 
 
 
 
 
 
 
 
 
June 27
Rent A/c
Dr.
 
28,000
 
 
  To Cash A/c
 
 
 
28,000
 
(Paid rent)
 
 
 
 
 
 
 
 
 
 
June 30
Salary A/c
Dr.
 
50,000
 
 
  To Cash A/c
 
 
 
50,000
 
(Paid salary)
 
 
 
 



Page No 8.71:

Question 9:

Journalise the following transactions of Rakesh Agencies, Delhi (Proprietor Shri Rakesh):

 
2019  
Jan 1 Rakesh commenced business with cash 50,000
Jan 2 Purchased goods for cash 10,000
Jan 5 Purchased goods from Mohan, Delhi 6,000
Jan 7 Opened bank account with Bank of India 10,000
Jan 10 Purchased furniture for office 2,000
Jan 15 Sold goods for cash 8,000
Jan 20 Sold goods to Ram, Delhi 5,000
Jan 25 Cash sales 3,500
Jan 27 Paid to Mohan on account 3,000
Jan 28 Ram returns goods costing 500
Jan 31 Paid Salaries 9,000
Jan 31 Rejected and returned 10% of goods supplied by Mohan  

Answer:

Journal
Date
Particulars
L.F.
Debit
Amount
(₹)
Credit
Amount
(₹)
2019
 
 
 
 
 
Jan 01
Cash A/c
Dr.
 
50,000
 
 
  To Capital A/c
 
 
 
50,000
 
(Started business with cash)
 
 
 
 
 
 
 
 
 
 
Jan 02
Purchases A/c
Dr.
 
10,000
 
 
  To Cash A/c
 
 
 
10,000
 
(Goods purchased)
 
 
 
 
 
 
 
 
 
 
Jan 05
Purchases A/c
Dr.
 
6,000
 
 
  To Mohan A/c
 
 
 
6,000
 
(Goods purchased)
 
 
 
 
 
 
 
 
 
 
Jan 07
Bank A/c
Dr.
 
10,000
 
 
  To Cash A/c
 
 
 
10,000
 
(Opened Bank A/c)
 
 
 
 
 
 
 
 
 
 
Jan 10
Furniture A/c
Dr.
 
2,000
 
 
  To Cash A/c
 
 
 
2,000
 
(Furniture purchased)
 
 
 
 
 
 
 
 
 
 
Jan 15
Cash A/c
Dr.
 
8,000
 
 
  To Sales A/c
 
 
 
8,000
 
(Goods sold)
 
 
 
 
 
 
 
 
 
 
Jan 20
Ram A/c
Dr.
 
5,000
 
 
  To Sales A/c
 
 
 
5,000
 
(Goods sold)
 
 
 
 
 
 
 
 
 
 
Jan 25
Cash A/c
Dr.
 
3,500
 
 
  To Sales A/c
 
 
 
3,500
 
(Goods sold)
 
 
 
 
 
 
 
 
 
 
Jan 27
Mohan’s A/c
Dr.
 
3,000
 
 
  To Cash A/c
 
 
 
3,000
 
(Paid to Mohan on account)
 
 
 
 
 
 
 
 
 
 
Jan 28
Sales Return A/c
Dr.
 
500
 
 
  To Ram’s A/c
 
 
 
500
 
(Goods returned by Ram)
 
 
 
 
 
 
 
 
 
 
Jan 31
Salary A/c
Dr.
 
9,000
 
 
  To Cash
 
 
 
9,000
 
(Paid salaries)
 
 
 
 
 
 
 
 
 
 
Jan 31
Mohan’s A/c
Dr.
 
600
 
 
  To Purchases Return A/c
 
 
 
600
 
(Returned 10% of the goods supplied by Mohan)
 
 
 
 
 
 
 
 
 
 

Page No 8.71:

Question 10:

Journalise the following transactions of Satish, Noida (UP):
 

2019  
Jan 1  Started business with cash 40,000
Jan 2  Opened Bank Account by cheque from Savings Account 60,000
Jan 3  Bought goods from M/s. S. Singh & Co., Delhi 20,000
Jan 4  Introduced additional capital by cheque 5,000
Jan 4  Purchased computer against cheque from Computer Mart, Noida 15,000
Jan 6  Paid for postage stamps 150
Jan 8  Sold goods for cash 4,000
Jan 9  Sold goods to M/s Sharda & Co., Delhi 10,000
Jan 15  Paid the due amount to M/s S. Singh & Co. after availing discount of ₹ 400  
Jan 25  Sold goods to M/s Ray & Co., Kolkata 5,600
Jan 27  Received cheque from M/s Sharda & Co. in full settlement of amount due from them 11,000
Jan 31  Paid for electricity charges 1,000
Jan 31  Paid rent of building by cheque. Half of the building is used by the proprietor for residential use. 5,000
Jan 31  Drew for personal use 3,500
     

Answer:

Journal
Date
Particulars
L.F.
Debit
Amount
(₹)
Credit
Amount
(₹)
2019
 
 
 
 
 
Jan 01
Cash A/c
Dr.
 
40,000
 
 
  To Capital A/c
 
 
 
40,000
 
(Started business with cash)
 
 
 
 
 
 
 
 
 
 
Jan 02
Bank A/c
Dr.
 
60,000
 
 
  To Capital A/c
 
 
 
60,000
 
(Cheque from Savings A/c to Firm’s A/c)
 
 
 
 
 
 
 
 
 
 
Jan 03
Purchases A/c
Dr.
 
20,000
 
 
  To M/s S. Singh & Co. A/c
 
 
 
20,000
 
(Goods purchased)
 
 
 
 
 
 
 
 
 
 
Jan 04
Computer A/c
Dr.
 
15,000
 
 
  To Bank A/c
 
 
 
15,000
 
(Purchased computer)
 
 
 
 
 
 
 
 
 
 
Jan 06
Postage A/c
Dr.
 
150
 
 
  To Cash A/c
 
 
 
150
 
(Paid for postage)
 
 
 
 
 
 
 
 
 
 
Jan 08
Cash A/c
Dr.
 
4,000
 
 
  To Sales A/c
 
 
 
4,000
 
(Goods sold)
 
 
 
 
 
 
 
 
 
 
Jan 09
M/s Sharda & Co. A/c
Dr.
 
10,000
 
 
  To Sales A/c
 
 
 
10,000
 
(Goods sold)
 
 
 
 
 
 
 
 
 
 
Jan 15
M/s S. Singh & Co. A/c
Dr.
 
20,000
 
 
  To Cash A/c
 
 
 
19,600
 
  To Discount Received A/c
 
 
 
400
 
(Paid to M/s S. Singh & Co.)
 
 
 
 
 
 
 
 
 
 
Jan 25
M/s Ray & Co. A/c
Dr.
 
5,600
 
 
  To Sales A/c
 
 
 
5,600
 
(Goods sold)
 
 
 
 
 
 
 
 
 
 
Jan 27
Bank A/c
Dr.
 
10,000
 
 
  To M/s Sharda & Co. A/c
 
 
 
10,000
 
(Received from M/s Sharda & Co.)
 
 
 
 
 
 
 
 
 
 
Jan 31
Electricity Charges A/c
Dr.
 
1,000
 
 
  To Cash A/c
 
 
 
1,000
 
(Paid for electricity charges)
 
 
 
 
 
 
 
 
 
 
Jan 31
Rent A/c
Dr.
 
2,500
 
 
Drawings A/c
Dr.
 
2,500
 
 
  To Cash A/c
 
 
 
5,000
 
(Paid rent for building, half building is occupied by proprietorfor residential purpose)
 
 
 
 
 
 
 
 
 
 
Jan 31
Drawings A/c
Dr.
 
3,500
 
 
  To Cash
 
 
 
3,500
 
(Drawings made by proprietor)
 
 
 
 
 
 
 
 
 
 
Note: There is an error in the question as the amount paid by M/s Sharda & Co. against goods sold can be eaqual to or less than the amount due but not more. Thus, taken to be as ₹10,000 instead of ₹11,000.



Page No 8.72:

Question 11:

Following are the transactions of R.Singh & Co., Kanpur (UP) for the month of July, 2018. You are required to Journalise them:

2018
July 1
July 1
July 1
July 2
July 5
July 6
July 11
July 12
July 16
July 20
July 23
July 26 
July 28 
July 31
Started business with cash
Cash paid into bank
​Bought stationery of ₹ 300 plus CGST and SGST @ 6% each
Bought goods of ₹ 21,000 plus CGST and SGST @ 6% each
Sold goods of ₹ 7,500 plus CGST and SGST @ 6% each
Bought office furniture of ₹ 5,000 plus CGST and SGST @ 6% each from Banerjee Bros.
Sold goods of ₹ 10,000 plus CGST and SGST @ 6% each to Mahendra
Received cheque from Mahendra for the amount due
Sold goods of ₹ 5,000 plus CGST and SGST @ 6% each to Ramesh & Co.
Bought goods of ₹ 20,000 plus IGST @ 12% from S. Seth & Bros., Delhi
Bought goods of ₹ 2,250 plus IGST @12 % for cash from S. Narain & Co., Ludhiana (Punjab)
Ramesh & Co. paid on account
Paid to S. Seth & Bros. by cheque in full settlement
Rent is due to S. Sharma but not yet paid.
80,000
50,000









2,500
22,000
1,000

Answer:

Journal
Date
Particulars
L.F.
Debit
Amount
(₹)
Credit
Amount
(₹)
2018
 
 
 
 
 
July 01
Cash A/c
Dr.
 
80,000
 
 
  To Capital A/c
 
 
 
80,000
 
(Started business with cash)
 
 
 
 
 
 
 
 
 
 
July 01
Bank A/c
Dr.
 
50,000
 
 
  To Cash A/c
 
 
 
50,000
 
(Cash paid into bank)
 
 
 
 
 
 
 
 
 
 
July 01
Stationery A/c
Dr.
 
300
 
 
Input CGST A/c
Dr.
 
18
 
 
Input SGST A/c
Dr.
 
18
 
 
  To Cash A/c
 
 
 
336
 
(Stationery purchased)
 
 
 
 
 
 
 
 
 
 
July 02
Purchases A/c
Dr.
 
21,000
 
 
Input CGST A/c
Dr.
 
1,260
 
 
Input SGST A/c
Dr.
 
1,260
 
 
  To Cash A/c
 
 
 
23,520
 
(Purchased goods)
 
 
 
 
 
 
 
 
 
 
July 05
Cash A/c
Dr.
 
8,400
 
 
  To Sales A/c
 
 
 
7,500
 
  To Output CGST A/c
 
 
 
450
 
  To Output SGST A/c