Questions on Journal Entry

Illustration 1: From the following transactions of Shantha Raj, pass the journal entries:

April 2021

1. Started business with 2,00,000 in cash.

2. Bought office furniture for cash 20,000
3. Bought Machinery on credit from Globe Traders 30,000
4. Purchased goods from Bharat Traders 1,00,000
5. Sold goods for cash 2,00,000
6. Sold goods to Babu 75,000
7. Received the amount due from Mr Babu 75,000
8. Paid the amount due to Bharat Traders 1,00,000
9. Received interest on investments 8,000
10. Received service charges 10,000
11. Paid general expenses 5,000
12. Received dividended on shares 6.000
13. Paid General expenses 2,000.

Illustration 2: Journalise the following transactions in the book of Rahul

2021 June

June 1 Started business with cash 3,00,000

June 7 Cash purchases 30,000
June 9 Cash Sales 25,000
June 15 Goods sold to Mr Raghu 15,000
June 18 Purchased office Furniture 60,000
June 25 Purchased goods from Mr Prakash 40,000
June 27 Paid Cash to Mr Prakash 20,000
June 28 Received Cash from Mr. Raghu 10,000
June 29 Received Commission 2,000
June 30 Paid rent by cash 1,000
Illustration 3.: Journalise the following transactions in the books of srinath:

Dated particulars

2021

January 01 Srinath commemsed business with Rs 20,000.

January 02 Opened Current Account with Karmataka Bankl Rs 12,000
January 04 Purchased goods from Kapil Dev Rs 4000
January 05 Sold goods to shrikant Rs 3000
January 06 Brought 2 tables Rs 500
January 07 Returned goods to Kapil Dev Rs 500
January 11 Purchased paper, ink and pencil Rs 50
January 12 Paid Kapil Dev Rs3,500 by cheque.
January 14 Shrikanth returned goods worth Rs 200
January 15 Shri8kanth paid srinath Rs 2,800
January 18 Cash Sales Rs 150.
January 19 Bought of Sanjay Rs 1,000
January 20 Sales to TTK Enterprises Rs 600
January 23 Cash Purchases Rs 300
January 25 Goods Returned to Sanjay Rs 200
January 26 Received cheque from TTK Enterprises Rs 600
January 27 Drawings Rs 250.
January 28 Sold goods to Sachin and cash received Rs 300
January 29 Paid Rent Rs 150 by Cheque.
January 30 Paid Salary Rs 400.
Illustration 4: Journalise the following transactions

2021

July 1 Govind started business with the following :

Cash 2000

Goods 1000

Furniture 500

July 5 Sold goods top Raghavan 500

July 5 Sold goods for cash 300

July 9 Received from Raghavan on account 300

July 12 Purchased goods from Mukundan 900

July 15 Paid Mukundan 500

July 20 Paid interest to Mukundan 10

July 31 paid stationery charges 6

July 31 paid salaries 25

July 31 Paid rent 16.

Illustration 5: Journalise the following transactions:

1. Gooch started business with Cash Rs 75,000

2. He opened a bank account with State Bank of Mysore for Rs 20,000.
3. Paid Commission to Stewart Rs 600.
4. Purchased goods from Hatheton for Cash Rs 20,000
5. Purchased goods from Robin Smith Rs 4,000.
6. Goods returned to Robin Smith Rs 1000.
7. Paid Robin Smith in full settlement Rs 2,800.
8. Received Interest Rs 400.
9. Paid rent to landlord Mr. Cowdrey Rs 1,000.
10. Withdrew cash for personal expenses Rs 1,200.
 11. Sold goods to Mike Gatting Rs 5,000 for cash.
12. Sold goods to Hick on Credit for Rs 2,000.
13. Hick returned goods Rs 250.
14. Received Cash in full settlement from Hick Rs 1,700.
15. Paid carriage on goods purchased Rs 800.
16. Paid carriage on goods sold Rs 700.
17. Purchased furniture for cash Rs 2,000.
18. Purchased furniture for resale Rs 1,000.
19. Sold furniture out of those meant for resale Rs 800.
20. Paid rent out of personal cash Rs 400.

Illustration 6: Pass the entries for the following through the journal:

2021

Feb 1 Received for cash sales Rs 500

Feb 2 Paid for cash purchases Rs 300

Feb 3 Deposited cash into bank Rs 1,000

Feb 4 Bought goods from Anand Rs 800 and paid him half of the amount in cash

Feb 5 Sold goods to Ashok Rs 900 and he paid us cash Rs 200

Feb 7 Received interest Rs 50 and commission Rs 150

Feb 8 Paid for postage stamps Rs 10 and for office stationery Rs 30

Feb 12 Paid Anand by cheque Rs 250

Feb 14 Received cheque from Ashok Rs 120

Feb 16 Paid for repairs to machinery Rs 40, for advertisement Rs 60 and for carriage Rs 20

Feb 17 The above cheque received from Ashok deposited into bank Rs 120

Feb 20 Bought furniture and paid by cheque Rs 90

Feb 22 Bought goods to Anand Rs 130

Feb 23 Ashok returns us goods Rs 140

Feb 24 Withdrawn cash from office for personal use Rs 100

Feb 26 Withdrawn from bank for domestic purpose Rs 200

Feb 27 Withdrawn from bank for office use Rs 300

Feb 28 Paid by cheque salary Rs 700 and office rent Rs 150

Illustration 7: Journalize the following transactions in the books of M/s Vijayalaxmi company
for the month of November 2021

November 1 Started business with cash Rs 80,000

November 3 Deposited into bank Rs 20,000

November 5 Bought goods from Harish Rs 5000 on credit

November 7 Sold goods to pavan Rs 8,000 and received cash

November 10 Brought furniture Rs 8,000 from Ram furniture works Hubballi Na d paid by
cheque.

November 14 Paid for advertisement Rs 800

November 18 Received cash from Mohan Rs 8,300 in full settlement of his account Rs 8,500

November 20 Paid wages Rs 1,000 and Carriage Rs 500

November 21 Cash withdrawn from bank for office use Rs 1000 and personal use Rs 500

November 28 Paid office rent Rs 800 by cheque

November 30 Received an order for supply of goods from Shankar & Co Rs 50,000

Illustration 8: From the following transactions prepare journal of Ramprasad for the month of
August 2022

August 1 Started business with cash Rs 60,000 and building Rs 40,000

August 3 Deposited into bank Rs 20,000

August 5 Brought goods from Lakshman Rs 10,000 and paid cash

August 8 Paid office rent to landlord Rs 1,000 by cheque

August 10 Sold goods to Ram Rs 8,000 on credit

August 14 Received cash from Ram Rs 7,800 in full settlement of his account

August 16 Brought office furniture Rs 5,000 and paid by cheque

August 17 Received Commission from Hanuman Rs 5,000

August 19 Cash deposited into bank Rs 4,000

August 20 Cash Sales Rs 10,000

August 25 Paid office rent Rs 1,000

Illustration 9 : Journalize the following transactions in the books of Dattta Prasad for the month
of October 2021

October 1 Commenced business with cash Es 30,000 , building Rs 15,000 , & bank Rs 5,000

October 4 Brought goods from Mr Manohar Rs 10,000 and paid cash Rs 2,500

October 5 Sold goods for cash Rs 10,000 of which deposited into bank Rs 2,000

October 8 Receive cash from Vikas Rs 8,000 and allowed him discount Rs 200

October 10 Paid Commission to Deepak Rs 8,000

October 12 Withdrawn cash from bank for office use Rs 3,000 and for domestic use Rs 1,000

October 15 Paid for advertisement and wages Rs 1,000 and Rs 500 respectively

October 18 Brought machinery from Kirloskar and Co for Rs 20,000 of which Rs 8,000 is paid
in cash

October 20 Received Interest on FDR Rs 1200

October 21 Received cheque of Rs 4,800 from Gopal and allowed him discount Rs 200

October 28 Paid Office Rent for 2 Months at Rs 450 per month by cheque

October 30 Appointed Disha as manager on a monthly salary of Rs 20,000

Illustration 10: Journalize the following transactions in the books of Mr Satish

1. Started business with cash Rs 15,000

2. Opened an account with Indian Bank Rs 2,000
3. Purchased goods from K and Co. For cash Rs 1,000
4. Purchased goods Rs 2,700 from Z and Co
5. Paid to Z and Co Rs 2,500 in full settlement of his account.
6. Received interest on investment Rs 500.
7. Sold goods to Mr x for cash Rs 1850.
8. Sold goods Rs 3,000 to Mr Z on credit.
9. Received cash Rs 2750 in full settlement of his account.
10. Paid stationery Rs 250 and rent Rs 500.
11. Withdraw cash from bank for personal use Rs 200.
12. Purchased furniture Rs 1000 and plant Rs 5,000 for cash.

Illustration 11: Journalise the following transactions in the books of Miss – Apeksha

December 1 Started business with cash Rs 1,00,000.

December 2 Purchased goods for cash Rs 20,000.

December 3 Opened bank account and deposit Rs 75,000.

December 4 Sold goods for cash Rs 40,000.

December 5 Purchased furniture for Rs 5,000 by cheque.

December 6 Purchased stationery by cash Rs 1,000.

December 7 Sold goods to Amar Rs 50,000.

December 8 Purchased goods from Pradeep Rs 40,000.

December 9 Withdrawn cash for personal use Rs 5,000.

December 10 Received cash from Amar Rs 40,000.

December 11 Paid cash to pradeep in full settlement of his account Rs 38,000.

December 12 Paid rent Rs 10,000 and salary Rs 20,000 by cheque.