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1.

Pass Journal entries in the books of Raghunath from the following transactions:1994
June 1
June 2
June 4
June 8
June 10
June 13
June 16
June 18
June 19
June 20
June 20
June 25
June 30
Ans 1:
Date
1994
June 1

June 2

June 4
June 8

Raghunath started business with cash Rs. 80,000, Goods Rs. 40,000 and
Furniture Rs. 20,000
Sold goods to Nandlal of the list price of Rs. 20,000 at trade discount of 10%
Nandlal returned goods of the list price of Rs. 4,000
Received from Nanlal Rs. 14,150 in full settlement in his account.
Purchased goods from Brij Mohan of the list price of Rs. 10,000 at 15% Trade
discount
Returned goods to Brij Mohan of the list price of Rs. 1,000
Settled the account of Brij Mohan by paying cash, under discount of 4%
Purchased goods from Anil Rs. 5,000; Sunil Rs. 10,000.
Paid cash to Anil Rs. 1,900 and discount received Rs. 100
Paid Rs. 9,800 to Sunil in full settlement of his account.
Bought a Table Fan for Rs. 1,200 for the domestic use of Raghunath.
Sold goods for cash of the list price of Rs, 8,000 at 10% trade discount and 3%
cash discount.
Paid Rent Rs. 800; Trade Expense Rs. 700 and Travelling Expenses Rs. 380.
JOURNAL OF RAGHUNATH
Particulars
L.F.
Cash A/c.
Dr.
Purchases A/c.
Dr.
Furniture A/c.
Dr.
To Capital A/c
(For business started with Cash, Goods & Furniture)
Nandlal A/c.
Dr.
To Sales A/c
(For goods sold less trade discount)
Sales Return A/c.
Dr.
To Nandlal
(For goods returned by Nandlal Rs. 4,000 less 10%)
Cash A/c.
Dr.
Discount A/c.
Dr.

Amount
Dr.
Rs.
80,000
40,000
20,000

Amount
Cr.
Rs.

1,40,000
18,000
18,000
3,600
14,150
250

3,600

June 10
June 13
June 16

June 18
June 19

June 20

June 20
June 25

To Nandlal
(For cash received and discount allowed)
Purchases A/c
Dr.
To Brij Mohan
(For goods purchased on credit)
Brij Mohan A/c.
Dr.
To Purchases Return A/c.
(For goods returned to Brij Mohan Rs. 1,000 less 15%)
Brij Mohan A/c.
Dr.
To Cash A/c.
To Discount A/c.
(For cash paid and discount received)
Purchases A/c
Dr.
To Anil A/c
To Sunil A/c
Anil A/c.
Dr.
To Cash A/c
To Discount A/c
(For cash paid and discount received)
Sunil A/c.
Dr.
To Cash A/c
To Discount A/c
(For cash paid to Sunil and discount received)
Drawings A/c
Dr.
To Cash A/c
(For table fan bought for domestic use)
Cash A/c.
Dr.
Discount A/c.
Dr.
To Sales A/c.
(For goods worth Rs. 8,000 sold at 10% trade discount
and 3% cash discount)

14,400
8,500
8,500
850
850
7500
7344
306
15,000
5,000
10,000
2,000
1,900
100
10,000
9,800
200
1,200
1,200
6,984
216
7,200

2. The following balances appeared in the books of Vishal Stores on 1 st January 1994:Assets :- Cash Rs. 15,000; Bank Balance Rs. 5,000; Stock Rs. 40,000;
Furniture Rs. 3,600; Debtors Rs. 24,000 (X Rs. 6,000; Y Rs. 8,000 and Z Rs. 10,000).
Liabilities : Bank Loan Rs. 10,000; Creditors- Rs. 12,500(Ajay Rs. 5,000,
Vijay Rs. 7,500)
Following transactions took place during 1994.
Jan 2
Bought goods from kailash for Rs. 20,000 at a trade discount of 10% and Cash
discount of 2%, Paid 60% amount immediately.
Jan 4
Sold goods to X for Rs. 9,000
Jan 5
Received Rs. 14,800 from X in full settlement of his account
Jan 6
Cash deposited into bank Rs. 10,000
Jan 8
Cheque received from Y for Rs. 7,850 in full settlement of his account. This
cheque was immediately deposited in bank.
Jan 10
Received a cheque from Z Rs. 2,000

Jan 12
Jan 15
Jan 16
Jan 16
Jan 18
Jan 20
Jan 22
Jan 24
Jan 25
Jan 31
Jan 31
Jan 31

Cheque received from Z deposited into bank


Cheque received from Y dishonoured
Cash sales Rs. 15,000; Out of this amount Rs. 12,000 deposited in bank
Amount due to Ajay paid by cheque
Old Newspaper sold Rs. 50
Old Furniture Rs. 750
Z became insolvent and 40 paise in a rupee could be received from his estate.
Purchased goods from Gopal and paid by cheque Rs. 8,000
Sold half of the above goods to Chanderkant at a profit of 30% on cost.
Proprietor withdrew for private use Rs. 2,000 from office and Rs. 3,000 from
bank.
Paid salary to Motilal by Cheque Rs. 2,000
Paid Rent by cheque Rs. 1,500
Paid trade expense Rs. 500.

Ans 2:
Date
1994
Jan 1

Jan 2

Jan 4
Jan 5

Jan 6

JOURNAL OF VISHAL STORES


Particulars
L.F.
Cash A/c.
Bank A/c.
Stock A/c.
Furniture A/c.
X
Y
Z
To Loan from Bank
To Ajay
To Vijay
To Capital (balancing figures)
(For assets and liabilities brought forward)
Purchases A/c.
To Cash A/c
To Discount A/c.
To Kailash
(For goods purchased and discount received)
X
To Sales A/c.
(For goods sold on credit)
Cash A/c.
Discount A/c.
To X
(For cash received and discount allowed)
Bank A/c
To Cash A/c
(For cash deposited in bank)

Dr.
Dr.
Dr.
Dr.
Dr.
Dr.
Dr.

Amount
Dr.
Rs.
15,000
5,000
40,000
3,600
6,000
8,000
10,000

Amount
Cr.
Rs.

10,000
5,000
7,500
65,100
Dr.

18,000

Dr.

9,000

Dr.
Dr.

14,800
200

Dr.

10,000

10,584(1)
216
7,200
9,000

15,000
10,000

Jan 8

Jan 10
Jan 12
Jan 15

Jan 16

Jan 16
Jan 18

Jan 20

Jan 22
Jan 24
Jan 25

Jan 31

Jan 31

Note (1)

Brij Mohan A/c.


Dr.
To Purchases Return A/c.
(For goods returned to Brij Mohan Rs. 1,000 less 15%)
Cash A/c.
Dr.
To Z
(For cash received)
Bank A/c
Dr.
To Cash A/c
(For cheque received from Z now deposited into Bank)
Y A/c.
Dr.
To Bank A/c
To Discount A/c
(For cheque dishonoured and discount withdrawn)
Bank A/c.
Dr.
Cash A/c.
Dr.
To Sales A/c
(For Cash Sales)
Ajay A/c.
To Bank A/c
(For cheque given to ajay)
Cash A/c.
To Miscellaneous Income A/c.
To Furniture
(For old newspapers and old furniture sold)
Cash A/c.
Bad Debts A/c.
To Z
(For cash received and bad debts written off.
Purchases A/c.
To Bank A/c.
(For goods purchased by cheque)
Chanderkant
To Sales A/c
(For goods sold on credit)
Drawings A/c
To Cash A/c.
To Bank A/c.
(For amount withdrawn for private use)
Salary A/c.
Rent A/c.
To Bank A/c
(For expenses paid by cheque)
Trade Expenses A/c.
To Cash A/c.
(For expenses paid in cash)
Total Rs.

7,850
150
8,000
2,000
2,000
2,000
2,000
8,000
7,850
150
3,000
12,000
15,000

Dr.

5,000

Dr.

6,984
216

5,000

7,200
Dr.
Dr.

3,200
4,800

Dr.

8,000

Dr.

5,200

Dr.

5,000

Dr.
Dr.

2,000
1,500

Dr.

8,000
8,000
5,200
5,000

3,500
500
500
2,10,600

2,10,600

Total Amount
Less 10% Trade Discount

20,000
2,000
18,000

Cash Purchases 60% of 18,000


Less : Cash Discount (2% of 10,800)
Amount paid
Cash purchases = 40% of 18,000

10,800
216
10,584
7,200

3. Journalise the following transactions in the books of Dr. Chandan:(1) Biroo who owed Rs. 1,500 is declared Insolvent and 65 paise in a rupee is received
as final dividend from his estate.
(2) Sold goods to Kitty list price Rs. 2,000, Traders Discount 10% and cash discount
5%. He paid the amount on the same day and availed Cash Discount.
(3) Supplied goods costing Rs. 600 to Shakuntla, issued invoice at 10% above cost less
5% trade discount.
Ans 3:
JOURNAL OF Dr. CHANDAN
Particulars
L.F.

Date
S.No.
(1)

(2)

(3)

Note (1)

Cash A/c.
Dr.
Bad-debts A/c.
Dr.
To Birooo
(For cash received and bad debts written off)
Cash A/c. ,
Dr.
Discount A/c.
Dr.
To Sales A/c
(For goods of the list price of Rs. 2,000 sold at 10%
trade discount and 5% cash discount)
Shakunla A/c
Dr.
To Sales A/c.
(For goods sold to Shankuntla at 10% above cost and
allowed 5% trade discount )
Cost of goods
Add 10% of 600
Less : 660 x 5
100

600
60
660
33
____
627

Amount
Dr.
Rs.
975
525

Amount
Cr.
Rs.
1,500

1,710
90
1,800
627(1)
627

4. Pass Journal Entries for the following :(1)


Proprietor withdrew for his personal use cash Rs. 2,000 and goods worth Rs.
1,000.
(2)
Goods for Rs. 5,000 were given away as Charity.
(3)
Goods worth Rs. 2,500 were distributed as free samples.
(4)
Goods worth Rs. 5,000 and cash Rs. 2,000 were stolen by an employee.
(5)
Goods worth Rs. 10,000 were destroyed by fire.

Ans 4:
JOURNAL
Date
S.No.
(1)

(2)
(3)

Particulars
Drawings A/c.
To. Cash A/c
To Purchases A/c
(For cash and goods taken away for personal use)
Charity A/c.
To Purchases A/c
(For goods given as a charity)
Free Samples A/c
To Purchases A/c.
(For goods distributed as free samples. )
Loss on theft A/c.
To Purchases A/c
To Cash A/c
(For Goods and Cash stolen by an employee)
Loss by fire A/c.
To Purchases A/c
(For goods destroyed by fire)

L.F.
Dr.

Amount
Dr.
Rs.
3,000

Amount
Cr.
Rs.
2,000
1,000

Dr.

5,000

Dr.

2,500

Dr.

7,000

Dr.

10,000

5,000
2,500
5,000
2,000
10,000

5. Pass Journal Entries for the following :1.


Goods sold for cash to a customer for Rs. 5,000 and collected 8% sales tax
2.
Purchased an Iron Safe for business for Rs. 10,0000.
3.
Purchased filing cabinet for office use Rs. 4,000 and paid Rs. 20 as carriage on
it.
4.
Purchased a portable typewriter from Radha Kishan & Co. for Rs. 8,000.
5.
Purchased an electric fan Rs. 2,000
6.
Purchased a Horse for business for Rs. 15,000.

7.
8.
9.
10.
11.
12.

Paid Rs. 500 for expenses on goods sold to Vijay. The amount is to be realized
by Vijay
Purchased post cards for Rs. 25; Envelopes for Rs. 50 and Stamps for Rs. 100
Purchased office stationary for Rs. 400
Gave a Charity Cash Rs. 200: Goods Rs. 400 and Furniture Rs. 500.
Received an order of goods from Vishnu for Rs. 10,000 and received Rs. 2,000
as advance.
Paid cash to Y on behalf of X Rs. 6000.

Ans 5:
JOURNAL
Date
S.No.
(1)

(2)
(3)

(4)
(5)
(6)
(7)
(8)

Particulars
Cash A/c.
Dr.
To Sales A/c
To Sales Tax A/c
(For goods sold for cash and sales tax collected)
Office Equipment A/c
Dr.
To Cash A/c
(For Iron Safe purchased)
Office Equipment A/c
Dr.
To Cash A/c
(For filling cabinet purchased for Rs. 4,000 and cartage
paid on it Rs. 20)
Office Equipment A/c
Dr.
To Radha Krishan & Co A/c
(For portable typewriter purchased)
Fixtures A/c
Dr.
To Cash A/c
(For electric fan purchased)
Live Stock A/c
Dr.
To Cash A/c
((For a horse purchased for business)
Vijay
Dr.
To Cash A/c
(For expenses paid on behalf of Vijay)
Postage A/c
Dr.
To Cash A/c
(For Post Cards, envelopes and stamps purchased)

L.F.

Amount
Dr.
Rs.
5,400

Amount
Cr.
Rs.
5,000
400

10,000
10,000
4,020
4,020
8,000
8,000
2,000

2,000

15,000
15,000
500
500
175

175

(9)
(10)

(11)
(12)

Stationery A/c
To Cash A/c
(For stationery purchased for office use)
Charity A/c
To Cash A/c
To Purchases A/c
To Furniture A/c
(For cash, goods and furniture given as Charity)
Cash A/c(1)
To Advance from Vishnu
(For amount received as advance)
X(2)
To Cash A/c
(For cash paid to Y on behalf of X)

Dr.

400
400

Dr.

Dr.

1,100
200
400
500
2,000
2,000

Dr.

6,000
6,000

Note (1) In Transaction no. 11 no entry will be passed for receiving an order of Rs. 10,000. as on
transaction has been taken place for it.
(2) In transaction no. 12, the account of X will be debited, as the payment has been made on his
behalf.

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