JOURNAL

Q1. Journalize the following transactions in the books of Himanshu:

2014 Rs.
Dec.01 Business started with cash 75,000
Dec.07 Purchased goods for cash 10,000
Dec.09 Sold goods to Swati 5,000
Dec.12 Purchased furniture 3,000
Dec.18 Cash received from Swati In full settlement 4,000
Dec.25 Paid rent 1,000
Dec.30 Paid salary 1,500

Books of Himanshu Journal

Debit Credit
Date Particulars L.F Amount Amount
Rs. Rs.
Dec.01 Cash A/C Dr. 75,000 75,000
To Capital A/C
(Being Business started with cash)
Dec.07 Purchase A/C Dr. 10,000 10,000
To Cash A/C
(Being goods Purchased goods for cash)

Dec.09 Swati A/C Dr. 5,000 5,000

To Sales A/C
(Being Goods sold to Swati)
Dec.12 Furniture A/C Dr. 3,000 3,000
To Cash A/C
(Being furniture purchased)
Dec.18 Cash A/C Dr. 4,000
Discount Allowed A/C Dr. 1,000 5,000
To Swati A/C
(Being cash received from Swati in full
settlement)
Dec.25 Rent A/C Dr. 1,000 1,000
To Cash A/C
(Being rent paid)
Dec.30 Salary A/C Dr. 1,500 1,500
To Cash
(Being salary paid)
Total c/f 1,00,500 1,00,500
Q2. Enter the following transactions in the journal of Mudit:

2015 Rs.
Jan.01 Commenced business with cash 1,75,000
Jan.01 Building 1,00,000
Jan.02 Goods purchased for cash 75,000
Jan.03 Sold goods to Ramesh 30,000
Jan.04 Paid wages 500
Jan.06 Sold goods for cash 10,000
Jan.10 Paid for trade expenses 700
Cash received from Ramesh 29,500
Jan.12
Discount allowed 500
Jan.14 Goods purchased from Sudhir 27,000
Jan.18 Cartage paid 1,000
Jan.20 Drew cash for personal use 5,000
Jan.22 Goods use for house hold 2,000
Cash paid to Sudhir 26,700
Jan.25
Discount received 300

Books of Mudit Journal

Debit Credit
Date Particulars L.F Amount Amount
₹ ₹
Jan.01 Cash A/C Dr. 1,75,000
Building A/C Dr. 100,000
To Capital A/C 2,75,000
(Business commenced with cash and building)
Purchases A/C Dr. 75,000
Jan.02 To Cash A/C 75,000
(Goods purchased for cash)
Ramesh A/C Dr. 30,000
Jan.03 To Sales A/C 30,000
(Sold goods to Ramesh)
Wages A/C Dr. 500
Jan.04 To Cash A/C 500
(Wages paid)
Cash A/C Dr. 10,000
Jan.06 To Sales A/C 10,000
(Sold goods for cash)
Trade Expenses A/C Dr. 700
Jan.10 To Cash A/C 700
(Paid for Trade Expenses)
 Jan.12 Cash A/C Dr. 29,500
Discount Allowed A/C Dr. 500
To Ramesh A/C
30,000
(Cash paid by Ramesh for full account settlement)

Purchases A/CDr. 27,000

Jan.14 To Sudhir A/C 27,000
(Goods purchased on credit from Sudhir)
Cartage A/C Dr. 1,000
Jan.18 To Cash A/C 1,000
(Cartage Paid)
Drawings A/C Dr. 5,000
Jan.20 To Cash A/C 5,000
(Drew cash for personal use)
Drawings A/C Dr. 2,000
Jan.22 To Purchases A/C 2,000
(Drawing of goods for household use)
Sudhir A/C Dr. 300
To Discount Received Account 26,700
Jan.25 27,000
To Cash A/C
(Cash paid to Sudhir and received discount)

Q3. Journalize the following transactions:

2014 Rs.
Dec.01 Hema started business with cash 1,00,000
Dec.02 Open a bank account with SBI 30,000
Dec.04 Purchased goods from Ashu 20,000
Dec.06 Sold goods to Rahul for cash 15,000
Dec.10 Bought goods from Tara for cash 40,000
Dec.13 Sold goods to Suman 20,000
Dec.16 Received cheque from Suman 19,00
Discount allowed 500
Dec.20 Cheque given to Ashu on account 10,000
Dec.22 Rent paid by cheque 2,000
Dec.23 Deposited into bank 16,000
Dec.25 Machine purchased from Parigya 10,000
Dec.26 Trade expenses 2,000
Dec.28 Cheque issued to Parigya 10,000
Dec.29 Paid telephone expenses by cheque 1,200
Dec.31 Paid salary 4,500
 Journal
Debit Credit
Date Particulars L.F Amount Amount
₹ ₹
Cash A/C Dr.
Dec.01 To Capital A/C 1,00,000 1,00,000
(Hema started business with cash)
Bank A/C Dr.
Dec.02 To Cash A/C 30,000 30,000
(Open a bank account with SBI)
Purchases A/C Dr.
Dec.04 To Ashu A/C 20,000 20,000
(Purchased goods from Ashu)
Cash A/C Dr.
Dec.06 To Sales A/C 15,000 15,000
(Sold goods to Rahul for cash)
Purchases A/C Dr.
Dec.10 To Cash A/C 40,000 40,000
(Bought goods from Tara for cash)
Suman A/C Dr.
Dec.13 To Sales A/C 20,000 20,000
(Sold goods to Suman)
Dec.16 Bank A/C Dr. 19,500
Discount allowed A/C Dr.
To Suman
500 20,000
(Received cheque from Suman and
discount allowed)
Ashu A/C Dr.
Dec.20 To Bank A/C 10,000 10,000
(Cheque given to Ashu on account)
Rent A/C Dr.
Dec.22 To Cash A/C 2,000 2,000
(Rent paid by cheque)
Bank A/C Dr.
Dec.23 To Cash A/C 16,000 16,000
(Deposited into Bank)
Machine A/C Dr.
Dec.25 To Parigya A/C 10,000 10,000
(Machine purchased from Parigya)
Trade Expenses A/C Dr.
Dec.26 To Cash A/C 2,000 2,000
(Trade expenses)
 Parigya A/C Dr.
Dec.28 To Bank A/C 10,000 10,000
(Cheque issued to Parigya)
Telephone expenses A/C Dr.
Dec.29 To Bank A/C 1,200 1,200
(Paid telephone expenses by cheque)
Salary A/C Dr.
Dec.31 To Cash A/C 4,500 4,500
(Paid Salary)
Total c/f 3,00,700 3,00,700
Q4. On April 01, 2016 Anees started business with Rs. 100,000 and other transactions for the month
are:
2. Purchase Furniture for Cash Rs. 7,000.
8. Purchase Goods for Cash Rs. 2,000 and for Credit Rs. 1,000 from Khalid Retail Store.
14. Sold Goods to Khan Brothers Rs. 12,000 and Cash Sales Rs. 5,000.
18. Owner withdrew of worth Rs. 2,000 for personal use.
22. Paid Khalid Retail Store Rs. 500.
26. Received Rs. 10,000 from Khan Brothers.
30. Paid Salaries Expense Rs. 2,000
Q5. Prepare general journal entries for the following transactions of a business called Pose for Pics
in 2016:
Aug. 1: Hashim Khan, the owner, invested Rs. 57,500 cash and Rs. 32,500 of photography equipment in
the business.
04: Paid Rs. 3,000 cash for an insurance policy covering the next 24 months.
07: Services are performed and clients are billed for Rs. 10,000.
13: Purchased office supplies for Rs. 1,400. Cash paid Rs. 400 and remaining outstanding.
20: Received Rs. 2,000 cash in photography fees earned previously.
24: The client immediately pays Rs. 15,000 for services to be performed at a later date.
29: The business acquires photography equipment. The purchase price is Rs. 100,000, pays Rs.
25,000 cash and signs a note for the balance.
Q6. On March 2017, Farhan Rahim, starts wholesaling business. Following transactions as follows:
1. He started business with capital of Rs. 15,000 and Land worth Rs. 10,000.
8. Bought goods from Bilal and Friends Rs. 1,000 and by cash from XYZ Co. Rs 2,000.
13. Sold goods to Rehman & sons Rs. 1,500 and sale by cash Rs. 5,000.
17. Gave away charity of cash Rs. 50 and merchandising worth Rs. 30.
21. Paid Bilal and Friends cash Rs. 975; discount received Rs. 25.
28. Received cash from Rehman & Sons Rs. 1,450; allowed him discount of Rs. 50.
Q7. 1st January, 2017, Saeed Ahmad started business other transactions for the month of June as
follows:
02. Purchased from Kareem goods of list price of Rs. 6,000 subject to 10% trade discount by cash.
04. Sold goods to Din Muhammad Rs. 800 and cash sales of Rs. 200.
10. Distributed goods worth Rs. 200 as free samples and goods taken away by the proprietor for personal use
Rs. 100.
12. Received discount Rs 20 and Commission Rs 500.
17. Goods returned by Din Muhammad Rs. 200 and payment other outstanding amount.
24. Furniture lost by fire of worth Rs. 500.
30. Bad Debts during the period was Rs.100.