Question.

1: Journalise the following transactions

in the books of Ram:
2021 Rs.
April 1 Business started with cash 1,00,000
April 2 Goods purchased for cash 25,000
April3 Goods purchased from Pankaj on credit 18,000
April 5 Goods sold to Naresh on credit 9,000
April 7 Goods returned to Pankaj 12,000
April 9 Goods returned by Naresh 1,400
April 10 Cash paid to Ajay 6,000
April 12 Commission received 2,700
April 15 Furniture purchased 7,000
April 16 Rent paid to Amit 5,000
April 19 Sold goods to Sumit for Cash 6,000
April 24 Cash sales 7,000
April 30 Cash received from Naresh on account 5,000
April 30 Salaries paid 10,000
Question 2. Enter the following transactions in the
Journal of Ram:
2021
Rs.
June 1 Ram invested capital in cash
1,00,000
June 3 Purchasedgoods fromHarish 10,000
June 5 Purchased goods for Cash 8,000
June 8 Purchased goods from MohitforCash 7,000
June 10 Sold goods to Kailash on Credit 2,000
June 12 Sold goods to Nadeem for Cash 1,500
June 14 Goods retuned by Kailash 500
June 16 Goods returned to Harish 360
June 18 Machinery Purchased from Sohan 8,000
June 19 Paid to Harish on account 5,000
June 25 Cash withdrawn for Personal use 5,000
June 30 old Newspapers sold 200
June 30 Received loan from Mohan and deposited in bank 50),000
Question.3. Enter the following transactions in the
Journal of Ram:
2021
Rs.
May 1 Amitabh started business with cash
80,000
May 2 Purchasedfurniture from Modern Furnishers for Cash 10,000
May 5 Deposited in Bank 30,000
May 6 Purchases goods for Cash 5,000
May 8 Purchases goods on creditfrom Hari 4,500
May 10 Purchases goods from Suresh for Cash 3,000
May 12 Purchases goods from Ajay 4,000
May 14 Sold goods for Cash 7,000
May 15 Sold goods to Karim 6,500
May 16 Soldgoods to Ganesh for Cash 5,000
May 18 Sold goods to Bansi 3,500
May 19 Withdrew from bankfor office use 5,000
May 20 Karim paid on account 5,000
May 29 Paid rent for residence 6,000
May 30 Purchased a cycle for his son 3,000
May 30 Paid to Ajay in Settlement of his account 3,000
Question.4. Enter the following transactions in the
Journal of Ram:
2021
April 5 Paid salaries Rs. 30,000, rent Rs. 10,000 and wages Rs. 8,000 by cheque.
April7 Purchased goods from Hari for Rs. 30,000 at 10% trade discount and 2% cash discount.
April 15 Paid to Raju Rs. 5,000 in cash and 7,000 by cheque.
April 18 Goods sold to Roma for Rs.5,000 at 20% Trade discount and 3% Cash Discount. Half of the
payment was received immediately.
April 20 Goods soldto Ramesh for Rs. 8,000. He paid Rs. 5,000 by Cheque immediately.
April 25 Additional capital introducedas: Cash Rs. 10,000; and Delivery Van (Personal asset) of Rs. 50, 000
April 26 Cash Paid to Anil Rs. 975. Discount received Rs. 25.
April 30 Paid to Raju Rs. 1,000 in cash and Rs. 2,000 by cheque.
April 30 Paid Rs. 4,800 to Mohan is settlement of his account for Rs. 5,000.
Question.5. Enter the following transactions in the
Journal of Ram:
2021
April 1 Mohan is declared insolvent. Receivedfirst and Final dividend
in a rupee against a debt of Rs. 5,000.
from his official ceiver 50
Re paise
April 2 Rs. 8,000 due from Ramnesh is not re
coverable.
April 3 Shyam, who owed Rs. 15,000 became insolventand 50% is
received from his estate.
April4 Received Rs. 10,000 in cash from Sohan for bad debts written off last
year.
Question.6. Pass necessary Journal entries for
the following transactions:
2021
April 1 Deposited in bank 30,000
April 3 Cash withdrawn from bank 10,000
April7 Wages paid by cheque 7,000
April 10 Cheque received from Deewan Rs. 8,500 and discount
allowed to him Rs. 500. Cheque is
deposited in bank on the same day.
April 12 As perstanding instructions, Bank paid Telephone bill
1,000
April 14 Deewan's cheque returned by the bank as dishonoured.
April 16 Charges debited by bank
400
April 17 Goods sold and sale proceeds deposited in bank
April 19 Bank has paid insurance premium as perour standing 8,000
instructions 1,800
April 25 Dividend colle cted by Bank
2,500
Question.7. Pass necessary Journal entries for
the following transactions:
2021
Rs.
April1 Deposited in bankfor opening a Current Account 10,000
April 2 Withdrawn from Bank 5,000
April5 Received a cheque from Ramesh to whom goods were sold for Rs. 12,000 last year
Allowed him 1% discount on payment
April7 Ramesh's cheque deposited in bank
April9
Ramesh's chequedishonoured (bank charges Rs. 20)
April 20 Ramesh settled his account by issuing cheque includingRs. 60 for interest 12,080
April 21 Cash directly deposited by Raja (Customer) in bank account 8,000
April 23 Bank draftgot issued in favour of M/s Lal &Sons Rs. 5,000. Bank Charges Rs. 700
April 28 Abill of exchange of Rs. 4,000 (due after one months) discounted from bank for Rs.
3,800
April 30 Receiveda chequeof Rs. 1,000 from Shaym after banking hours 2,500
April 30 Goods sold for cash Rs. 7,000 and half of the sale proceeds deposited in bank
Question.8. Pass necessary Journal entries for
the following transactions:
2021 Rs.
April 1 Good withdrawn by ownerof Rs. 1,000 for personal use.
April 2 Goods distributed as sample 500
April 3 Goods Given as Charity 300
April4 Timberused for making office furniture Rs.5,000 (Assume that the firm is a timber
merchant )
April5 Goods destroyed by fire
3,500
April6 Goods lost in transit
2,000
Question.9. Pass necessary Journal entries for
the following transactions:
2021 Rs.
April 1 Paid repairing charges on existing machineries 1,000
April 2 Purchased a new machinery 42,500
April 3 Paid freight and carriage on machinery 2,500
April 4 Paid installation charges on machinery 5,000
April 5 Purchased a second-hand machinery 18,000
April 6 Paid repairing charges on above machinery 2,500
Question.10. Pass necessary Journal entries for
the following transactions:
(D) Interest due but not received Rs. 10,000
(iü) Salaries due to staff Rs. 50,000
(ü) Out of the rent paid this year Rs. 5,000 is for the next year.
(iv) Provide 10% depreciation on Furniture costing Rs. 1,00,000.
(v) Goods used in marking Furniture (Sale Price Rs. 5,000; Cost Rs. 4,000).
(vi) Received commission of Rs. 20,000 by cheque, half of which is in advance.
(vii) Allow intereston capital Rs. 8,000.
(viii) Charge interest on drawings Rs. 1,500.
Question.11. Following balance existed in the
books of M/s. Anand Store as on 1s April, 2021:
Assets: Capital Rs. 60,000; Bank Rs. 40,000;
Stock Rs. 1,50,000; Furniture Rs. 43,000; Debtors
Rs. 1,45,000 (X Rs. 35,000; Y Rs. 50,000; Z Rs.
60,000).
Liabilities: Loan from Vikas Rs. 60,000; Creditors
Rs. 52,500(A Rs. 22,500; BRs. 30,000).
Pass necessary Journal entry to record the above
balance.