Additional journal entry problems are presented, including transactions such as depositing cash into a bank, paying salaries, withdrawing funds for office and personal use, and charging interest on capital. Further problems provide transactions for the business Ch
Additional journal entry problems are presented, including transactions such as depositing cash into a bank, paying salaries, withdrawing funds for office and personal use, and charging interest on capital. Further problems provide transactions for the business Ch
Additional journal entry problems are presented, including transactions such as depositing cash into a bank, paying salaries, withdrawing funds for office and personal use, and charging interest on capital. Further problems provide transactions for the business Ch
Additional journal entry problems are presented, including transactions such as depositing cash into a bank, paying salaries, withdrawing funds for office and personal use, and charging interest on capital. Further problems provide transactions for the business Ch
Problem No-1 Mr. Nirmal has the following transactions in the month of April.Write Journal Entries for the transactions.
10th April Commenced business with a capital of 1,00,000
11th April Purchased goods from Veeru for 20,000 13th April Purchased Goods for Cash 15,000 14th April Purchased Goods from Abhiram for cash 9,000 16th April Bought Goods from Shyam on credit 12,000 17th April Sold goods worth 15,000 to Tarun 19th April Sold goods for cash 20,000 20th April Sold goods to Utsav for cash 6,000 21st April Sold goods to Pranav on credit 17,000 22nd April Returned goods to Veeru 3,000 23rd April Goods returned from Tarun 1,000 25th April Goods taken by the proprietor for personal use 1,000 26th April Bought Land for 50,000 27th April Purchased machinery for cash 45,000 28th April Bought computer from Intel Computers for 25,000 28th April Cash sales 15,000 29th April Cash purchases 22,000 30th April Bought furniture for proprietor's residence and paid cash 10,000 Problem No-2 Journalise the following transactions in the books of Rama & Sons
3rd May Cash deposited into bank 60,000
4th May Loan given to Bhuvan 20,000 4th May Paid cash to Veeru 20,000 5th May Paid to Veeru by cheque 15,000 5th May Cash received from Tarun 12,000 5th May Took loan from Anush 15,000 6th May Cheque received from Pranav 15,000 6th May Paid to Intel Computers by cheque 17,000 6th May Withdrew from bank 5,000 7th May Withdrew from bank for office use 8,000 7th May Cash received from Bhuvan on loan account 10,000 8th May Withdrew from bank for personal use 1,000 8th May Cash taken by proprietor for personal use 3,000 9th May Bought furniture and paid by cheque 15,000 9th May Paid to Anush by cheque on loan account 5,000 9th May Brought additional capital of 25,000
Problem No-43 Journalise the following transactions :
1. Deposited cash into bank Rs.80,000.
2. Paid salary Rs.46,000.
3. Withdrew from the bank Rs.50,000 for office use.
4. Withdrew from the bank Rs.30, 000 for private use.
5. Charged interest on capital Rs.1,25,000.
Problem No-4 Write journal entries in the books of Chikky & Bros.
10th June Paid wages 12,000
11th June Paid rent by cheque 10,000 13th June Paid salary to Mr. Charan 12,000 14th June Purchased stationery from Kagaz & Co. and paid by cheque 5,000 15th June Received interest 14,000 17th June Received commission by cheque 6,000 18th June Rent received from Mr. Mody 8,000 19th June Interest received from Mr.Bijju by cheque 10,000 20th June Carriage paid on purchase of goods 3,000 22nd June Carriage paid on sale of goods 2,000
Problem No-5 Problem No-6
Problem No-7 Problem No-8 Problem No-9
Problem No-10
Journalise-the-following 1. Isha invested Rs.2,00,000 in business. 2. Opened a current account in bank Rs.1,20,000. 3. Purchased goods for Rs.60,000 and paid Rs.58,000 4. Purchased goods for Rs.1,00,000 from Rashmi Problem No-11 Give journal entries for the following transactions giving in each case the nature of account and the rule applicable: 1. Ajit started business by investing cash Rs.50,00,000. He bought goods old Rs.4,00,000 and furniture of Rs.5,00,000.
2. Purchased building for Rs.10,00,000.
3. Purchased goods for cash Rs.3,00,000.
4. Purchased goods on credit from Chandler Rs.25,000.
5. Paid cartage Rs.2,000.
6. Sold goods for cash Rs.2,55,000.
7. Sold goods for cash to Rs.24,000.
8. Sold goods to Mahendra on credit Rs.46,500.
9. Cash withdrawn by Ajit for personal use Rs.5,000.
Problem No-12 Journalise the following transactions in the books of Ram for the month of March 2010. March 1 Ram commenced business with cash Rs. 60,000. 2 Purchased furniture for Rs. 5,000. 4 Purchased goods for cash Rs. 2,000. 7 Bought goods from M/s. Raj & Co. for Rs. 4,000. 10 Sold goods costing Rs. 3,000 on cash. 15 Purchased stationery for office use Rs. 1,000. 19 Received cash Rs. 1,250 from Mr. Ketan in full settlement of his account for Rs. 1,500. 20 Paid salaries by cheque Rs. 1,500. 25 Introduced additional capital Rs. 20,000. 27 Paid to Raj Rs. 3,250 in full settlement of Rs. 3,500 29 Sold goods for Rs. 15,000 to Mr. Dohi. 31 Deposited Rs. 3,000 into the Bank. Problem No-13 Journalise the following transactions in the books of Mr. Shiva for the month of April 2010. April 1 Started business with cash Rs. 25,000/- 2 Purchased goods worth Rs. 10,000/- 4 Deposited cash Rs. 3,000 into the Bank. 6 Purchased goods of Rs. 6,000 from M/s. Raju Trading Company. 9 Sold goods to Mr. Ramesh for Rs. 3,000. 12 Paid to M/s. Raju Trading Company Rs. 3,000. 15 Received Rs. 1,000 from Mr. Ramesh. 20 Paid salaries Rs. 1,000/- and paid commission Rs. 1,600/- in cash. 25 Bought stationery for office use Rs. 300. 27 Withdrew Rs. 2,500 from business for personal use. 29 Withdrew Rs. 4,000 from bank for office use.
Problem No-14 Journalise the following transactions in the books of Mr. Vishal for the month of March, 2010. Mar. 1 Vishal started business with cash Rs. 35,000, goods worth Rs. 10,000. 2 Opened bank account in the Bank of India by depositing Rs. 5,000. 4 Bought goods worth Rs. 6,000 @ 10% trade discount term. 7 Sold goods worth Rs. 3,000 9 Purchased furniture of Rs. 4,000 for office use and furniture of Rs. 1,000 for home use. 14 Withdrawn goods of Rs. 1,000 for self use. 17 Received Rs. 2,400 from Mr. Ravindra in full settlement of Rs. 2,450. 19 Paid salaries Rs. 500 to office clerk and paid electricity bill of Rs. 750 in cash. 24 Paid Mr. Raj Rs. 1,960 in full settlement of Rs. 2,000. 26 Paid insurance premium of Rs. 1,200 on the life of Mr. Vishal, a proprietor. 29 Cash sales Rs. 3,000. 30 Withdrew Rs. 4,000 from bank for office use. Problem No-15 Draft journal entries for the business transactions given below. Apr. 1 Mr. Atul started business with cash Rs. 5,000/-, goods Rs. 7,500 and furniture Rs. 2,500/- 3 Purchased goods worth Rs. 4,500 from Mr. Kamalakar. 5 Cash sales Rs. 6,000 8 Purchased stationery for office use Rs. 500. 10 Paid to Mr. Kamalakar Rs. 4,350 in full settlement of Rs. 4,500. 13 Deposited Rs. 1,000 into the Bank. 16 Received Rs. 500 from Mr. Kiran. 19 Withdrawn Rs. 200 from business for self use. 23 Paid Rs. 150 for commission and paid Rs. 450 for rent. 27 Paid wages Rs. 600 in cash, and paid sundry expenses Rs. 200/- by cheque. 29 Borrowed Rs. 5,000 from wife for business purpose. 30 Cash purchases Rs. 1,000.
