JOURNAL

IMPORTANT QUESTIONS

ILLUSTRATION 1.
Give Journal entries for the following transactions in the books
of Partap Rai & Sons. -
2019 ₹

April 2 Cash purchases 48,000

April 3 Sold goods to Vasudev 10,000
April 6 Returned defective goods by Vasudev 1,000
April 8 Received cash from Vasudev 8,800
and Discount allowed 200
April 9 Chanderkant sold goods to us 20,000
April 10 Pritam purchased goods from us 12,000
April 10 Paid insurance premium by cheque 500
April 12 Paid for Life Insurance Premium of Sh. Partap Rai 2,000
by cheque
April 15 Paid Cash to Chanderkant 13,780
and Discount allowed by him 220
April 18 Bought goods from Pawan, list price ₹15,000 less
20% trade discount
April 22 paid to Pawan 8,000
received cash from pritam 6,000
April 26 Paid wages ₹2,000, Advertisement Expenses
April 30 ₹2,500 and Salaries paid ₹9,000
April 30 Received Interest 500
April 30 received commission 2,000

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CLASS 11 BUSINESS
 JOURNAL
IMPORTANT QUESTIONS

ILLUSTRATION 2.
Pass journal entries for the following transactions in the
journal of Himanshu Chauhan.

2019

April 1 Himanshu Chauhan started business with cash ₹1,50,000,

Furniture ₹10,000
April 4 Sold goods to Partap of the list price of ₹20,000 at trade
discount of 10%.
April 6 Partap returned goods of list price of ₹2,000.
April 10 Received from Partap ₹16,000 in full settlement of his
account.
April 15 Purchased furniture for ₹12,000.
April 15 Purchased goods from Sahdev of the list price of ₹50,000
at 12% Trade Discount.
April 18 Returned goods to Sahdev of the list price of ₹4,000.
April 20 Cleared the account of Sahdev by paying cash at a
discount of 5%.
April 21 Sold goods to Aakriti ₹20,000 and Shikha ₹32,000.
April 24 Received cash from Aakriti ₹19,600 in full settlement of
her account.
Paid insurance premium ₹1,500.
April 25 Paid ₹2,400 for insurance premium for proprietor.

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CLASS 11 BUSINESS
 JOURNAL
IMPORTANT QUESTIONS

April 26 Purchased goods for ₹16,000 for cash at a trade discount

of 10% and cash discount of 2%.
April 27 Received full payment from Shikha at a discount of 5% in
full settlement of his account.
April 28 Paid for advertisement ₹2,000, salaries ₹8,000 and rent
₹1,600.
April 30 Received Commission ₹1,000.

ILLUSTRATION 3.
Journalise the following transactions in the books of Mathur Bros.

2018

Feb. 1 Started business contributing ₹50,000 in cash; ₹4,50,000 in

cheque and building valued ₹20,00,000.
Feb 5 Purchased goods from Manohar Lal of the list price of ₹50,000
for ₹46,000
Feb 17 Purchased goods costing ₹1,00,000 from Sahil & Co. Paid 60%
immediately by cheque to avail 5% discount.
Feb 24 Sold goods to Kishore & Co. of the list price of ₹40,000 for
₹38,000.
Feb 26 Sold to Kanika & Co. goods costing ₹1,00,000 at 20% profit,
allowing 10% trade discount and 5% cash discount. Kanika & Co.
made 40% payment immediately by cheque.

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CLASS 11 BUSINESS
 JOURNAL
IMPORTANT QUESTIONS

ILLUSTRATION 4
Pass Journal Entries for the following:
(1) Proprietor withdrew for his personal use cash ₹20,000 and goods worth
₹10,000
(2) Goods for ₹50,000 were given away as charity. (Sale price ₹60,000)
(3) Goods worth ₹25,000 were distributed as free samples.
(4) Goods worth ₹50,000 and cash ₹20,000 were stolen by an employee.
(5) Goods worth ₹1,00,000 were destroyed by fire. Insurance Company
admitted and paid claim for 60% amount.

ILLUSTRATION 5
Pass entries in the books of Mukul Roy & Sons, assuming all transactions
have been entered within the state of West Bengal, charging CGST and SGST
@ 6% each:

2018

April 1 Purchased goods for ₹1,50,000 from S. Banerjee.

April 6 Sold goods for ₹2,50,000 to Aditya Sangma.
April 8 Returned goods to S. Banerjee for ₹10,000.
April 15 Aditya Sangma returned goods for ₹8,000.
April 18 Printing & stationery expenses of ₹5,000 paid in cash.
April 24 Goods withdrawn by Proprietor for personal use
₹20,000.
April 27 Goods destroyed by fire ₹15,000.
April 30 Payment made of balance amount of GST.

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CLASS 11 BUSINESS
 JOURNAL
IMPORTANT QUESTIONS

ANSWERS
SOLUTION: 1 journal of partap rai &sons.

L Amount Amount
Date Particulars . Dr. Cr.
F
.

2019 ₹ ₹
April 2 Purchases A/c Dr. 48,000
To Cash A/c 48,000
(Goods purchased for cash)

April 3 Vasudev Dr. 10,000

To Sales A/c 10,000
(Goods sold to Vasudev)

April 6 Sales Return A/c Dr. 1,000

To Vasudev 1,000
(Goods returned by Vasudev)

April 8 Cash A/c Dr. 8,800

Discount Allowed A/c Dr. 200
To Vasudev 9,000
(Cash received from Vasudev and discount
allowed)

C/F 68,000 68,000

CLASS 11 BUSINESS
 JOURNAL
IMPORTANT QUESTIONS

B/F 68,000 68,000

April 9 Purchases A/c Dr. 20,000
To Chanderkant 20,000
(Goods purchased from Chanderkant)

April 10 Pritam Dr. 12,000

To Sales A/c 12,000
(Goods sold to Pritam)

April 10 Insurance Premium A/c Dr. 500

To Bank A/c 500
(Insurance premium paid)

April 12 Drawings A/c Dr. 2,000

To Bank A/c 2,000
(Life Insurance Premium paid)

April 15 Chanderkant Dr. 14,000

to cash A/c 13,780
to discount received A/c 220
(cash Paid to Chanderkant and Discount
received)

April 18 Purchases A/c Dr. 12,000

To Pawan 12,000
(Goods purchased less trade discount)

April 22 Pawan Dr. 8,000

To Cash A/c 8,000
(Amount paid to Pawan)

April 26 Cash A/c Dr. 6,000

to Pritam 6,000
(cash received )

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CLASS 11 BUSINESS
 JOURNAL
IMPORTANT QUESTIONS

April 30 Wages A/c Dr. 2,000

Advertisement Expenses A/c Dr. 2,500
Salaries A/c Dr. 9,000
To Cash A/c 13,500
(Expenses paid)

April 30 Cash A/c Dr. 2,500

To Interest Received A/c 500
To Commission Received A/c 2,000
(Income received)

TOTAL ₹ 1,58,500 1,58,500

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CLASS 11 BUSINESS
 JOURNAL
IMPORTANT QUESTIONS

SOLUTION:2 JOURNAL OF HIMANSHU CHAUHAN

Amount Amount
Date Particulars L.F. Dr. Cr.

2019 ₹ ₹
Cash A/c Dr
April 1 1,50,000
Furniture A/c Dr
10,000
Purchases A/c (or Stock A/c) Dr
60,000
To Capital A/c
2,20,000
(Business started with cash, furniture and
goods)

Partap Dr
April 4 18,000
To Sales A/c
18,000
(Goods of the list price of ₹20,000 sold at 10%
discount)

sales Returns A/c Dr

April 6 1,800
To Partap
1,800
(Goods returned for ₹2,000 less 10% trade
discount)

cash A/c Dr
April 10 16,000
Discount Allowed A/c (Note 1) Dr
200
To Partap
16,200
(Cash received from Partap and discount
allowed to him)

furniture A/c Dr
April 15 12,000
To Cash A/c
12,000
(Furniture purchased for cash)

Purchase A/c Dr
April 15 44,000
to sahdev
44,000
(goods of the list price of ₹50,000 purchased
at 12% trade discount)

CLASS 11 BUSINESS
 JOURNAL
IMPORTANT QUESTIONS

April 18 sahdev Dr 3,520

to cash A/c 3,520
To Discount Received A/c
(Cash paid to Sahdev and discount
received)

April 20 sahdev Dr 40,480

to purchase returns A/c 38,456
(goods returned for ₹4,000 less 12%trade 2,024
discount)

April 21 Aakriti Dr 20,000

Shikha Dr 32,000
to sales 52,000
(goods sold on credit)

April 24 Cash A/c Dr 19,600

Discount Allowed A/c Dr 400
To Aakriti 20,000
(Cash received and discount allowed)

C.F. 4,28,000 4,28,000

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CLASS 11 BUSINESS
 JOURNAL
IMPORTANT QUESTIONS

B.F. 4,28,000 4,28,000

April 24 Insurance Expenses A/c Dr 1,500
To Cash A/c 1,500
(Insurance premium paid)

April 25 Drawings A/c Dr 2,400

To Cash 2,400
(Paid for insurance premium for proprietor)

April 26 Purchases A/c Dr 14,400

To Cash A/c(³) 14,112
To Discount Received A/c 288
(Goods purchased at 10% trade discount
and 2% cash discount)

April 27 Cash A/c Dr 30,400

Discount Allowed A/c Dr 1,600
To Shikha 32,000
(Cash received and discount allowed)

April 28 Advertisement Expenses A/c Dr 2,000

Salaries A/c Dr 8,000
Rent A/c Dr 1,600
To Cash A/c 11,600
(Expenses paid)

April 30 Cash A/c Dr 1,000

To Commission Received A/c 1,000
(Commission received)

TOTAL ₹ 4,90,900 4,90,900

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CLASS 11 BUSINESS
 JOURNAL
IMPORTANT QUESTIONS

(1) Discount allowed to Partap is calculated as follows: ₹

Sales 18,000
Less: Sales Returns 1,800
Amount due from Partap 16,200
Amount received from him in full settlement 16,000
Discount allowed 200

(2) Discount received from Sahdev is calculated as follows:

Purchases 44,000

Less: Purchases Returns 3,520

Net amount due to Sahdev 40,480

Discount received from him : 40,480× 5/100 2,024

Amount paid to him in full settlement 38,456

(3) Invoice price of goods purchased 16,000

Less: Trade Discount @ 10% 1,600
14,400
288

Less: cash discount @2% 14,112

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 JOURNAL
IMPORTANT QUESTIONS

SOLUTION:3 JOURNAL OF MATHUR BROS.

Amount Amount
Date Particulars L.F.
Dr. Cr.

2018 ₹ ₹
Feb. 1 Cash A/c Dr. 50,000
Bank A/c Dr. 4,50,000
Building A/c Dr. 20,00,000
To Capital A/c 25,00,000
(Started business with Cash, Cheque and
Building)

Feb 5 Purchases A/c Dr 46,000

To Manohar Lal 46,000
(Goods of list price of ₹50,000 purchased for
₹46,000)

Feb 17 Purchases A/c Dr 1,00,000

To Bank A/c 57,000
To Discount Received A/c 3,000
To Sahil & Co. 40,000
(Goods purchased paying 60% availing 5%
discount)

Feb 24 kishore & Co. Dr. 38,000

To sales A/c 38,000
(Goods of List Price of ₹40,000 sold for
₹38,000)

Feb 26 Bank A/c* (Note 1) Dr. 41,040

Discount Allowed A/c Dr. 2,160
Kanika & Co. Dr. 64,800
To Sales A/c 1,08,000
(Goods sold and discount allowed)

TOTAL ₹ 27,92,000 27,92,000

CLASS 11 BUSINESS
 JOURNAL
IMPORTANT QUESTIONS

SOLUTION: 4

L. Amount Amount
Date Particulars
F. Dr. Cr.

S. No. ₹ ₹
(1) Drawings A/c Dr 30,000
To Cash A/c 20,000
To Purchases A/c 10,000
(Cash and goods taken away for personal use)

charity A/c Dr
(2) 50,000
To Purchases A/c
50,000
(Goods given away as charity)

Advertisement Expenses A/c Dr

(3) To Purchases A/c
25,000

(Goods distributed as free samples) 25,000

loss by theft A/c Dr

(4) To Purchases A/c 70,000
to Cash A/c 50,000
(Goods and Cash stolen by an employee) 20,000

Loss by Fire A/c Dr

To purchase A/c 1,00,000
(5)
(Goods destroyed by fire )
1,00,000

Insurance Company Dr
to loss by fire A/c
1,00,000
(insurance claim lodge with the insurance company )
1,00,000

Bank A/c Dr
Profit and Loss A/c Dr
To Insurance Company A/c 60,000
(Insurance claim of ₹1,00,000, accepted 40,000
and received at ₹60,000) 1,00,000

TOTAL ₹ 4,75,000 4,75,000

CLASS 11 BUSINESS
 JOURNAL
IMPORTANT QUESTIONS

SOLUTION: 5 JOURNAL OF MUKUL ROY & SONS

Amount Amount
Date Particulars L.F.
Dr. Cr.

2018 ₹ ₹
April 1 Purchases A/c Dr. 1,50,000
Input CGST A/c Dr. 9,000
Input SGST A/c Dr. 9,000
To S. Banerjee 1,68,000
(Purchased goods on Credit)

April 6 Aditya Sangma Dr. 2,80,000

To Sales A/c 2,50,000
To Output CGST A/c 15,000
To Output SGST A/c 15,000
(Sale of goods on Credit)

April 8 S. Banerjee Dr. 11,200

To Purchase Returns A/c 10,000
To Input CGST A/c 600
To Input SGST A/c 600
(Purchase returns)

April 15 Sales Returns A/c Dr. 8,000

Output CGST A/c Dr. 480
Output SGST A/c Dr. 480
To Aditya Sangma 8,960
(Sales returns)

April 18 Printing & Stationery A/c Dr. 5,000

Input CGST A/c Dr. 300
Input SGST A/c Dr. 300
To Cash A/c 5,600
(Paid for printing and stationery)

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CLASS 11 BUSINESS
 JOURNAL
IMPORTANT QUESTIONS

April 24 Drawings A/c 22,400

20,000
To Purchases A/c
1,200
To Input CGST A/c
1,200
To Input SGST A/c
(Goods withdrawn for personal use)

April 27 Loss by Fire A/c 16,800

15,000
To Purchases A/c
900
To Input CGST A/c
900
To Input SGST A/c
(Goods destroyed by fire)

April 30 Output CGST A/c 14,520

Output SGST A/c 14,520
6,600
To Input CGST A/c
6,600
To Input SGST A/c
15,840
To Bank A/c (₹7,920 +₹7,920)
(Adjustment of GST and payment of balance
amount)

TOTAL ₹ 5,42,000 5,42,000

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CLASS 11 BUSINESS
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