ACCOUNTANCY – XI

JOURNAL ENTRIES

Pass the Journal entries for the following:

1. Manish started business with cash Rs. 10,000, goods Rs. 5,000 and furniture Rs. 15,000.
2. Purchased goods for cash Rs. 3,500.
3. Purchased goods from Sudhir Rs. 10,000.
4. Purchased goods from Mr.X for cash Rs. 6,000.
5. Sold goods for cash Rs. 1,500.
6. Sold goods for cash to Anubhav Rs. 2,000.
7. Sold goods to Kumar Rs. 2,500.
8. Paid cash to Sudhir Rs. 6,000.
9. Received cash from Kumar Rs. 2.500.
10. Bought Building for cash Rs. 20,000.
11. Paid for Rent, wages Rs. 100 and Rs. 400 respectively.
12. Paid salary to Rohan Rs. 1,200.
13. Received Commission Rs. 500.
14. Sold goods to Bharat Rs. 8,000.
15. Returned defective goods by Bharat of Rs. 2,000.
16. Received cash from Bharat Rs. 5,900 and discount allowed Rs. 100.
17. Paid Insurance Premium Rs. 400.
18. Paid for Life Insurance premium of the owner of the business Mr. Ajay Rs, 1,000.
19. Lent to Mohan Rs. 4,000.
20. Sold goods to Mayank of the list price of Rs. 30,000 at a trade discount of 5%. .
21. Mayank returned goods of the list price of Rs. 5,000.
22. Received from Mayank Rs. 23,000 in full settlement of his account.
23. Purchased goods from Rakesh of the list price Rs. 8,000 at 20% trade discount.
24. Returned goods to Rakesh of the list price of Rs. 2,000.
25. Settled the account of Rakesh by cash under a discount of 5%.
26. Bought a Typewriter for Rs. 1,200 for the domestic use of the owner Mr. Anil.
27. Bought goods from Anand for Rs. 40,000 at a trade discount of 20% and cash discount of 4%. Paid 50% cash
immediately.
28. Sold goods to Divya for Rs. 10,000.
29. Received Rs. 9,800 from Divya in full settlement of her account
30. Cash deposited in the bank Rs. 6,000.
31. Received a cheque from Mr. Z Rs. 2,500.
32. Cheque received from Z deposited into bank after 2 days.
33. Sold goods to Sonal Rs. 6,500.
34. Cheque received from Sonal for Rs. 6,450 in full settlement of her account. This cheque was immediately
deposited in the bank.
35. Cheque received from Sonal dishonoured.
36. Old newspapers sold for Rs. 100 and old furniture sold for Rs. 1,700.
37. Z became insolvent and 50 paisa in a Rupee could be received from his estate.
38. Goods purchased from Rita and paid by cheque Rs. 7,200.
39. Paid rent by cheque Rs. 300.
40. Proprietor withdrew for private use Rs. 1,000 from office and Rs. 800 from bank.
41. Rs. 4,500 withdrawn from bank for office use.
42. Salaries due Rs. 20,000.
43. Rent is prepaid Rs. 2,000.
44. Received Rs. 2,400 from Sunil which were written off as bad debts in the previous year.
45. Provide 20% depreciation on building costing Rs. 1,00,000 for 3 months,
46. Provide 5% interest, on capital Rs. 20,000 for 3 months.
47. Charge interest on drawings Rs. 350.
48. Bought goods from Kamal for cash Rs. 2,200 and paid Rs. 50 for carriage.
49. Purchased a machinery for cash Rs. 40,000 and paid Rs. 4,000 as wages on its installation. Goods of Rs. 3,000
were also used from business on its installation.
50. Paid Rs. 1,800 for repairing office furniture.
51. A shed was constructed for office building costing Rs. 40,000 and payment was made by cheque.
52. Employed Nisha as a cashier and received Rs. 18.000 from her us security deposits.
53. Paid office expenses Rs. 100 from personal cash and stationery expenses Rs. 200 from office cash.
54. Purchased goods for Rs. 50,000 from Manish and supplied it to John for Rs. 60,000. Out of this John returned
goods of Rs. 18,000 which in turn were returned to Manish.
55. Sold goods to Amit of list price Rs. 5,000, trade discount 20% and cash discount @5%. He paid the amount
and availed cash discount
56. Supplied goods costing Rs. 2,000 to Mr. Y. Issued invoice at 10% above cost less 2% trade discount
57. Owner withdrew goods of Rs. 700.
58. Goods given as charity Rs. 2,200.
59. Goods distributed as free samples Rs. 1,800.
60. Goods lost by fire and theft are Rs. 500 and Rs. 1,000 respectively.
61. Goods sold for cash for Rs. 7,000 and collected 5% sales tax on it.
62. Purchased a cow for business for Rs. 20,000.
63. Gave as charity cash Rs. 150, machinery Rs. 2000 and good Rs. 250.
64. Opened bank account with SBI Rs. 10,000.
65. Borrowed from bank Rs. 7,500.
66. Paid railway freight on behalf of our customer Mr. Nitin Rs. 800.
67. Received an order of goods for Rs. 1,00,000 from Sonu.
68. Sonu's order was executed and cartage Rs. 5,000 was paid in this regard.
69. Paid Rs. 250 for subscribing for newspapers.
70. Received Rs. 700 from sale of old chairs and tables.
71. Paid interest on loan Rs. 300.
72. Goods stolen-cost price Rs. 2,000, sale price Rs. 3,000.
73. Paid income tax Rs. 1,000 and sales tax Rs. 4,000.
74. Rs. 500 due from Amrit are bad debts
75. Paid cash to X on Behalf of Z Rs.3,000.
76. Sold goods of Rs. 2,000 for Rs. 2,400.
77. On Ist Jan. 2002, the following balances appeared in books of AB Ltd.
Assets cash Rs. 10,000, bank Rs. 20,000, stock Rs. 40,000, furniture Rs. 20,000.
Liabilities bank loan Rs. 10,000 and creditors Rs. 15,000.
78. Pass an Opening Entry:
Assets-cash Rs. 1,00,000, creditor Rs. 10,000, capital Rs. 1,50,000.
79. Pass an Opening Entry :
Assets Building Rs. 80,000, cash Rs. 40,000, Loan Rs. 15,000 and Capital Rs.60.000.