RANI SATI CLASSES (CA Chandan Agarwal)

Class 11 : Accountancy
Chapter 8 : Journal

Meaning of Journal – Journal is a book in which transctions are recorded in the order
in which they occur i.e in a chronological order ( Date wise) . It records both aspects of
a transactions.i.e debit and credit using double entry system of book keeping. Journal
is called the Books of original entry or Primary Entry since all transactions are initially
recorded in it. Journal is also called Day book. Journal is the base for posting
transactions into ledger accounts.

Journalising - The process of recording the transactions into Journal is called

journalising.

Journal Entry - An entry recorded in the journal is called a journal entry.

Simple Journal Entry – Entry in which one account is debited and another account is
credited with equal amount.
Compound Jounal entry – Entry in which one or more accounts are debited and
one/or one or more accounts are credited or vice versa is called compound entry.
Opening entry – Journal entry passed to record closing balances of the previous year is
called Opening entry.
Format of a Journal
Date Particulars L.F Dr(Rs) Cr(Rs)

Note : All the columns except the Ledger Folio(L.F) column are completed at the time
of Journalising..The Ledger Folio column is filled at the time of posting.

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Rules of Debit and Credit (In case of Modern classification of Accounts)
Types of Accounts Rules for Debit Rules for Credit
Assets Accounts Debit the Increase Credit the Decrease
Expenses Accounts Debit the Increase Credit the Decrease
Liabilities Accounts Debit the Decrease Credit the Increase
Capital Accounts Debit the Decrease Credit the Increase
Revenue Accounts Debit the Decrease Credit the Increase

Rules of Debit and Credit (In case of Traditional classification of Accounts)

Types of Accounts Rules for Debit Rules for Credit
Personal Accounts Debit the Receiver Credit the Giver
Real Accounts Debit what Comes in Credit What goes out
Nominal Accounts Debit All expenses and Credit All Incomes and
Losses Gains

Pass the Journal Entries in the Books of Ram

1.Ram started or commenced business with cash of Rs 100000
2.Ram introduced additional or fresh capital of Rs 100000
3.Ram sold his personal car of Rs 100000 and invested the money in the business
4.Sold household furniture for Rs 100000 in cash and paid the money into business
5.Ram withdrew cash of Rs 10000 for personal use.
6.Ram purchased mobile for personal use costing Rs 10000.
7.Paid life insurance premium of Rs 10000
8.Paid income tax Rs 10000.
9.Cash deposited into bank Rs 50,000.
10.Cash withdrawn from Bank Rs 60,000.
11.Purchased goods for cash Rs 10,000
12.Purchased goods from Sohan for Cash Rs 5,000
13.Purchased goods from Sohan for Credit Rs 7,000
14.Purchased goods from Sohan for Rs 10,000
15.Purchased goods for Rs 10,000
16.Purchased goods on credit Rs 2,000
17.Purchased goods from Sohan for cash Rs 10,000 and On credit Rs 2000
18.Purchased goods for cash Rs 10,000 and on credit Rs 2000

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19.Sold goods for cash Rs 10,000
20.Sold goods to Rohan for cash Rs 3000
21.Sold goods to Rohan for credit Rs 6000
22.Sold goods to Rohan for Rs 4000
23.Sold Goods for Rs 8000
24.Sold goods on credit for Rs 9000
25.Sold goods to Rohan for Cash Rs 10,000 and on credit Rs 2000
26.Sold goods for Cash Rs 10,000 and on credit Rs 2000
27.Goods costing Rs 5000 were sold for Rs 6000
28.Goods purchased of list price of Rs 25000 from mohan at trade discount of 20%.
29.Goods purchased of list price of Rs 25000 from mohan at trade discount of 20% and
cash discount of 5%.
30.Goods purchased of list price of Rs 25000 from mohan at trade discount of 20% and
cash discount of 5% and Paid 40% by cheque.
31.Goods purchased of list price of Rs 25000 from mohan at trade discount of 20% and
cash discount of 5% and Paid 70%(Half of which is paid by cheque ).
32. Sold goods to Pankaj at the list price of Rs 50000 less 20% trade discount.
33. Sold goods to Pankaj at the list price of Rs 50000 less 20% trade discount and 5%
cash discount.
34.Sold goods to Pankaj at the list price of Rs 50000 less 20% trade discount and 5%
cash discount and received 20% by
cheque.
35. Sold goods to Pankaj at the list price of Rs 50000 less 20% trade discount and 5%
cash discount and received 60%(1/3 of which is received by cheque).
36.Goods returned by Shyam for Rs 10000.
37.Goods costing Rs 9000 returned to Kapil.
38.Furniture purchased for Rs 12000
39.Furniture purchased from Mohan for Rs 60000
40.Furniture costing Rs 4000 were sold for Rs 5000
41.Furniture costing Rs 5000 were sold for Rs 4000
42.Purchased Furniture from Raj Furnitures for Rs 10,000.
43.Purchased Furniture from Raj Furnitures for Rs 10,000,paid in cash.
44.Cash of Rs 2000 received from Hari,a debtor.
45.Paid Rs 6000 to shyam,a creditor.
46.Received Rs 800 from Ramesh on his account for Rs 900.
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47.Received Rs 1250 from Raman in full settlement of his account for Rs 1300.
48.Paid Rs 1000 to shyam on his account for Rs 1200.
49.Paid Rs 370 to Rahul in full settlement of his account for Rs 400.
50.Paid to Mohan on account Rs 3000
51.Paid to Mohan by cheque Rs 3000
52.Paid to Ramavtar Rs 5000
53.Paid Rent of Rs 3000 to Amar.
54.Received commission of Rs 10000 from shyam.
55.Paid salaries Rs 5000.
56.Purchased stationary for Rs 2000.
57.Received interest of Rs 700 from vinod.
58.Paid Rs 200 for refreshment of a customer.
59.Goods of Rs 1000 distributed as free samples.
60.Goods costing RS 500 given as Charity.(sale price Rs 600 )
61.Withdrawn goods for personal use costing Rs 700.(sale price is Rs 900 )
62.Goods used for making office furniture Rs 2000.
63.Withdrew goods costing Rs 5,000 for personal use.
64.Good costing Rs 2,500 given as samples
65.Goods costing Rs 2,000 given as donation.
66.Provide 10% depreciation on furniture costing Rs 100000
67.Allow 8% interest on capital of Rs 100000
68.Charge interest on drawing Rs 7000
69.Ram invested Rs 50,000 cash and Rs 20,000 by cheque to start a business.
70.Purchased goods for Rs 50,000 against cheque.
71.Sold goods for Rs 2500 against cheque.
72.Paid salary Rs 5000 for the month of Decemeber,2019 to staff by cheque.
73.Borrowed from Narendra Rs 10,000.
74.Purchased a building and paid Rs 3,00,000 by cheque.
75.Paid rent for the residence of Ram Rs 5000 by cheque.
76.Paid electricity charges for the month Rs 1500 in cash.
77.Paid Advance Rs 20,000 by cheque to Abhinash.
78.Received advance of Rs 30,000 from M/s Ajay & Co.
79.Paid Rs 1000 for stationary.
80.Ram withdrew Rs 10,000 for household expenses out of cash.
81.Paid for repair of premises Rs 10,000
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82.Paid into bank Rs 40,000
83.Loan taken from bank Rs 50,000
84.Drew cash from bank for office use Rs 1,000
85.Paid cartage Rs 500
86.Sold goods to Suresh Rs 5000
87.Received from Suresh Rs 4000
88.Cash sales for the month Rs 6000
89.Paid salary to Deepak Rs 2000
90.Bank loan of Rs 50,000 repaid
91.Ram introduced further capital of Rs 1,00,000 in cash.
92.Deposited Rs 5000 in bank
93.Paid Rent Rs 10,000 in cash
94.Issued cheque of Rs 39000 to parul,a creditor in settlement of his account of Rs
40,000
95.Paid advance for Machine Rs 25,000 by cheque to Kiran machines.
96.Received a cheque of Rs 29,500 from surrender, a debtor in settlement of his
account of Rs 30,000
97.Rebate of Rs 2,000 allowed to Raman on goods sold.
98.Rebate of Rs 3,000 received from kapil on goods purchased.
99.Paid into Bank for opening a current account Rs 30,000
100.Opened a bank account by cheque from saving account Rs 60,000
101.Withdrawn from Bank for office use Rs 3,000
102.Withdrawn from Bank for Personal use Rs 4000
103.Withdrawan from bank Rs 5,000
104Withdrawn for personal use Rs 6,000
105.Drew for personal use Rs 3000
106.Placed on Fixed deposit account at bank by transfer from current account Rs 5,000
107.A cheque for Rs 5,000 received from Rajiv was deposited into bank,returned
dishonoured.
108.Goods uninsured of Rs 3,000 were destroyed by fire.
109.Goods costing Rs 1000 damaged by fire and Insurance company accepted claim of
Rs 800 and cheque is received from the Insurance Company.
110.Received commission of Rs 10,000 by cheque,half of which is received in advance.
111.Purchased Machinery for cash Rs 50,000
112.Paid cash Rs 2000 for installation of Machine.
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113.Bricks,cement,etc for Rs 1,50,000 and Timber for Rs 2,00,000 purchased for the
construction of building.Payment was made by cheque.
114.Received from Krishna Rs 12,500 and allowed him discount Rs 500
115.Paid cash to shyam Rs 21,500 and discount received Rs 500
116.Rs 5000 due from Ramesh are irrecoverable.
117.Sohan is declared insolvent.Received from his official receiver 60 paise in a rupee
on a debt of Rs 10,000
118.Received cash for a bad debt written off last year Rs 700.
119.Received cash for a bad debt written off last year Rs 3000
120.Shyam became Insolvent.A first and final compensation of 75 paise in a rupee was
received from his official receiver.He owed a debt of Rs 50,000
121.Rent due to landlord Rs 400
122.Salaries due to clerks Rs 10,000
123.Out the the rent paid this year,Rs 10000 relates to next year.1
124.Interest due but not received Rs 4000
125.Rent received Rs 20000 out of which Rs 5000 is in advance.
126.Paid rent of Rs 1500 to the landlord.One third of the premises is occupied by the
proprietor for his own residence.
127.Opened a Bank account with cheque from Saving Account Rs 50,000.
128.Paid cartage on goods purchased Rs 500.
129.Placed an order for goods with Daruwala& Co Rs 30000.
130.Amount transferred to Fixed Deposit Rs 50,000.
131.Old newspaper sold Rs 200
132Additional Capital Introduced as : Cash Rs 10,000 and Delivery Van (Personal Asset)
of Rs 50,000.
133.Cheque received from Deewan Rs 8500 and discount allowed to him Rs 500.
Cheque is deposited in bank on the same day.
134.Bank has paid insurance premium as per our standing instructions Rs 1800.
135.Goods sold for cash Rs 7000 and half of the sale proceeds deposited into bank.

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Exercise Questions (T.S.Grewal 2024 edition)
Q1. Journalise the following transactions in the books of Ram:
2024 Rs.
April 1 Business started with cash 1,00,000
April 2 Goods purchased for cash 25,000
April 3 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

Q 2. Enter the following transactions in the Journal of Gurman:

2024 Rs.
June 1 Gurman invested capital in cash 1,00,000
June 3 Purchased goods from Harish 10,000
June 5 Purchased goods for cash 8,000
June 8 Purchased goods from Mohit for cash 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 returned 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

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Q 3. Record the following transactions in the Journal of Amitabh:
2024 Rs.
May 1 Amitabh started business with cash. 80,000
May 2 Purchased furniture from Modern Furnishers for cash 10,000
May 5 Deposited in bank. 30,000
May 6 Purchased goods for cash 5,000
May 8 Purchased goods on credit from Hari 4,500
May 10 Purchased goods from Suresh for cash 3,000
May 12 Purchased goods from Ajay 4,000
May 14 Sold goods for cash. 7,000
May 15 Sold goods to Karim 6,500
May 16 Sold goods to Ganesh for cash 5,000
May 19 Withdrew from bank for 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 3,800

Q 4. Pass necessary Journal entries for the following transactions:

2024
April 5 Paid salaries Rs.30,000, rent Rs.10,000 and wages Rs.8,000 by
cheque.
April 7 Purchased goods from Hari for Rs.30,000 at 10% trade discount and
2% cash discount. Payment was made immediately.
April 15 Paid to Raju Rs.5,000 in cash and Rs.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 sold to Ramesh for Rs.8,000. He paid Rs.5,000 by cheque
immediately.
April 25 Additional capital introduced as: 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 in settlement of his account for Rs.5,000.

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Q 5. Pass Journal entries for the following transactions:
2024
April 1 Mohan is declared insolvent, Received first and final dividend from
his official Receiver 50 paise in a rupee against a debt of Rs.5,000
April 2 Rs.8,000 due from Ramesh is not recoverable
April 3 Shyam, who owed Rs.15,000 became insolvent and 50% is received
from his estate
April 4 Received Rs.10,000 in cash from Sohan for bad debts written off
last year

Q 6. Pass necessary Journal entries for the following transactions:

2024 Rs.
April 1 Deposited in bank 30,000
April 3 Cash withdrawn from bank 10,000
April 7 Wages paid by cheque 7,000
April 10 Cheque received from Deewan Rs.8,500 and discount allowed
to him 500. Rs.Cheque is deposited in bank on the same day.
April 12 As per standing 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 8,000
April 19 Bank has paid insurance premium as per our standing
instructions 1,800
April 25 Dividend collected by Bank 2,500

Q 7. Pass the necessary Journal entries for the following transactions:

2024 Rs.
April 1 Deposited in bank for opening a Current Account 10,000
April 2 Withdrawn from bank 5,000
April 5 Received a cheque from Ramesh to whom goods were sold for
Rs.12,000 last year Allowed him 1% discount on payment
April 7 Ramesh’s cheque deposited in bank
April 9 Ramesh’s cheque dishonoured (bank charges Rs.20)
April 20 Ramesh settled his account by issuing cheque including Rs.60 12,080
for interest
April 21 Cash directly deposited by Raja (Customer) in bank account 8,000
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 April 23 Bank draft got issued in favour of M/s Lal & Sons Rs.5,000. Bank
charges Rs.700
April 28 A cheque of Rs.4,000 (due after one month) discounted from
bank for Rs.3,800
April 30 Received a cheque of Rs.1,000 from Shyam after banking hours.
April 30 Goods sold for cash Rs.7,000 and half of the sale proceeds
deposited in bank

Q 8. Pass necessary Journal entries for the following transactions:

2023 Rs.
April 1 Goods withdrawn by owner for personal use 1,000
April 2 Goods distributed as sample 500
April 3 Goods Given as Charity 300
April 4 Timber used for making office furniture Rs.5,000 (Assume
that the firm is a timber merchant)
April 5 Goods destroyed by fire 3,500
April 6 Goods lost in transit 2,000

Q 9. Pass necessary Journal entries for the following transactions:

2023 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

Q 10. Pass Journal entries for the following adjustment on 31st March, 2023:
(i) Interest due but not received Rs.10,000.
(ii) Salaries due to staff Rs.50,000.
(iii) 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 making Furniture (Sales Price 5,000; Cost 4,000).
(vi) Received commission of Rs.20,000 by cheque, half of which is in advance.
(vii) Allow interest on capital Rs.8,000.
(viii) Charge interest on drawings Rs.1,500.

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Opening Journal Entry
Q 11. Following balances existed in the books of M/s. Anand Stores as on 1st April,
2023:
Assets : Cash Rs.60,000; Bank Rs.40,000; Stock Rs.1,50,000; Furniture 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; B
Rs.30,000).
Pass necessary Journal entry to record the above balances.
Miscellaneous
Q 12. Pass Journal entries for the following transactions:
(a) Pankaj started business with cash Rs.2,00,000 and Bank Rs.8,00,000.
(b) Bought a machinery for Rs.25,00,000 by making a down-payment of 10%.
(c) Paid Rs.48,000 as wages for installation of machine.
(d) Bought goods from Chhabra Bros. Rs.3,00,000.
(e) Withdrawn from bank Rs.50,000.
(f) Repaid bank loan Rs.35,000 including interest of Rs.3,000.
(g) Sold goods to Samuel Rs.40,000.
(h) Received from Samuel Rs.39,750, discount allowed Rs.250.
(i) Paid rent of Rs.37,500 by cheque.
(j) Provide depreciation on machinery at 15% per annum.

Q 13. Pass Journal entries for the following transactions:

(a) Aakash started business with cash Rs.3,00,000; Bank deposit of 40,00,000
and Furniture Rs.4,00,000.
(b) Bought goods from Bhushan Traders Rs.30,00,000 against cheque of Rs
15,00,000, balance to be paid later.
(c) Returned goods of Rs.1,20,000 to Bhushan Traders.
(d) Sold goods to Pawan Rs.4,00,000.
(e) Paid to Bhushan Traders Rs.1,50,000 and cash discount received 2%.
(f) Goods returned by Pawan Rs.80,000.
(g) Sold goods for cash Rs.1,20,000.
(h) Goods given as samples Rs.20,000.
(i) Paid income tax of Rs.37,500.
(j) Goods taken by Aakash for household use Rs.10,000.

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Q 14. Pass Journal entries for the following transactions:
(a) Tejvir started business with cash Rs.5,00,000.
(b) Opened a bank account depositing Rs.3,00,000.
(c) Invested in shares (personal) for Rs.50,000, paid out of Saving Account.
(d) Bought goods (timber) for Rs.3,00,000, paid half by cash and half by
cheque.
(e) Paid carriage for unloading the timber Rs.5,000.
(f) Bank charges Rs.2,000.
(g) Goods of Rs.15,000 were used to make furniture and wages paid 5,000.
(h) Dividend collected by bank Rs.5,000 wrongly credited in firm’s account.
(i) Tejvir sold his personal scooter for Rs.35,000 and deposited the amount in
firm’s bank account.

Q 15. Pass Journal entries for the following transactions:

(a) Surekha started business with cash Rs.5,00,000.
(b) Bought goods from Goyalson’s for Rs.3,00,000, paid half by cash.
(c) Sold goods to Sonika for Rs.1,00,000, received Rs.60,000 immediately.
(d) 10% of the goods returned by Sonika being defective.
(e) Paid to Goyalson’s Rs.1,49,000 in full settlement.
(f) Amount due from Sonika is not receivable.
(g) Paid rent Rs.15,000, 2/3rd of the premises is occupied for own use.

Q 16. Pass Journal entries for the following transactions:

(a) Muskaan started business with Cash Rs.3,00,000, Stock Rs.5,00,000 and
building Rs.25,00,000.
(b) Construction of power-back room Rs.1,00,000.
(c) Paid insurance premium for stock Rs.15,000 and self Rs.7,000.
(d) Goods destroyed by fire Rs.80,000, Insurance Claim lodged.
(e) Commission received Rs.25,000, 20% being received in advance.
(f) Insurance company paid 80% in full and final settlement.
(g) Salaries paid Rs.48,000 and due Rs.22,000.
(h) Provide Depreciation on Building @ 10% per annum.

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Q 17. Following transactions of Ramesh for April, 2023 are given below. Journalise
them.
2023 Rs.
April 1 Ramesh started business with cash 1,00,000
April 2 Paid into bank 20,000
April 3 Bought goods for cash 50,000
April 4 Drew cash from bank for office use 10,000
April 13 Sold goods to Krishna 15,000
April 20 Bought goods from Shyam 22,500
April 22 Krishna returned goods 2,000
April 24 Received from Krishna 12,500
Allowed him discount 500
April 28 Paid cash to Shyam 21,500
Discount received 1,000
April 30 Sold for Cash to Mohan, Rakesh and Mayank 80,000
April 30 Paid rent 5,000
April 30 Paid salary 10,000

18. Journalise the following transactions of Gurman:

2024 Rs.
Jan. 1 Gurman started business with cash 2,00,000
Jan. 2 Paid into bank 60,000
Jan. 3 Bought goods from Singh & Co 20,000
Jan. 3 Paid cartage on goods purchased 300
Jan. 4 Purchased furniture 2,000
Jan. 4 Paid advance for purchase of HP Printers for Rs.15,000 5,000
Jan. 4 Purchased calculator 1,000
Jan. 4 Purchased computer and paid by cheque 13,000
Jan. 6 Paid for Mobile bill and Internet (Office) 5,700
Jan. 8 Sold goods for cash 4,000
Jan. 9 Sold goods to Sharda & Co 10,000
Jan. 9 Paid cartage on goods sold to Sharda & Co 200
Jan. 15 Paid to Singh & Co. on account 17,500
Jan. 25 Sold goods to Ray & Co 5,600
Jan. 27 Received cheque from Sharda & Co. in settlement of 9,750
amount due from them

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 Jan. 31 Paid for electricity charges 1,000
Jan. 31 Paid salary to office staff 1,500
Jan. 31 Cash withdrawn for hospital expenses of owner 7,500

Q 19. Journalise the following transactions of Singh Enterprises, Delhi:

2024 Rs.
Jan. 1 Started business with cash 50,000
Jan. 2 Deposited cheque from Savings Account in firm’s account 2,00,000
Jan. 3 Received cheque from Ram as loan 50,000
Jan. 4 Purchased goods for cash 15,000
Jan. 11 Sold goods to M/s Hari Sales, Delhi 12,000
Jan. 13 Paid to Ramavtar by cheque advance for Machine 40,000
Jan. 17 Received from M/s Han Sales, Delhi 10,000
Jan. 20 Bought furniture from S.R. Furnishers against cheque payment 22,400
Jan. 27 Paid rent by cheque 28,000
Jan. 27 Sold the personal Car and invested the amount in business 80,000
Jan. 27 Goods costing Rs.2,000 were destroyed by fire. These
goods were not insured
Jan. 30 Paid life insurance premium for employees 5,000
Jan. 30 Paid salary 20,000

Q 20. Journalise the following transactions of Rakesh Agencies, Delhi (Proprietor Shri
Rakesh):
2024 Rs.
Jan. 1 Rakesh commenced business with cash 50,000
Jan. 2 Purchased goods for cash 10,000
Jan. 5 Purchased goods from Mohan. Delhi 60,000
Jan. 7 Opened bank account with Bank of India 10,000
Jan. 10 Purchased furniture for office 2,000
Jan. 15 Sold goods for cash 8,000
Jan. 20 Sold goods to Ram of the list price of Rs.1,25,000 less 20%
Trade discount and 2% cash discount and paid 40% by cheque
Jan. 25 Cash sales 3,500
Jan. 27 Paid to Mohan on account 3,000
Jan. 28 Ram returns goods of sale value 5,000
Jan. 31 Paid Salaries 9,000

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 Jan. 31 Paid to the Petty Cashier 3,000
Jan. 31 Rejected and returned 5% of goods supplied by Mohan

Q 21. Enter the following transactions in the Journal of Suresh, Delhi who trades in
readymade garments:
2024 Rs.
April 1 Suresh paid in bank as Capital. 60,000
April 2 He bought goods and paid by cheque 24,000
April 3 Sold goods to Mukand & Co., Delhi.. 6,700
April 4 Sold goods for cash. 10,900
April 5 Paid sundry expenses in cash 3,000
April 8 Paid for office furniture and fittings by cheque 4,000
April 9 Bought goods from Ramesh & Bros. 10,600
April 11 Returned goods to Ramesh & Bros. 1,500
April 12 Issued cheque to Ramesh & Bros. in settlement 8,500
April 12 Goods costing Rs.5,000 destroyed by fire.
April 20 Insurance Company paid claim 4,000
April 30 Bank charged interest 200
April 30 Borrowed from Ridhi @ 10% per annum interest 50,000
April 30 Received from Mukand & Co. on account.. 3,000
April 30 Sold household furniture and paid the amount into business 10,000
April 30 Sold goods costing Rs.5,000 to Anita for cash at a profit of 20%
on cost, less 20% trade discount
April 30 Sold goods costing Rs.20,000 to Sunil at a profit of 20% on sale
less 20% Trade Discount and paid cartage Rs.150 (to be charged
from customer).

Q 22. Journalise the following transactions in the books of M/s. R.K. & Co..
i. Purchased goods of list price of Rs.20,000 from Vishal at 20% trade discount
again cheque payment.
ii. Purchased goods of list price of Rs.20,000 from Naman at 15% trade discount
against cash.
iii. Purchased goods of list price of Rs.30,000 from Amrit at 20% trade discount.
iv. Purchased goods from Hari & Co. of list price 40,000 for 35,000 against cash.
v. Goods purchased from Amrit of list price Rs.10,000 returned.

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 vi. Sold goods to Parul of list price of Rs.40,000 at 10% trade discount against
cheque payment.
vii. Sold goods to Aman of list price of Rs.30,000 at 10% trade discount against cash.
viii. Sold goods to Pawan of list price of Rs.20,000 at 10% trade discount.
ix. Sold goods to Yamini of list price of Rs.25,000 for Rs.23,000.
x. Sold goods costing Rs.10,000 at cost plus 20% less 10% trade discount to
Bhupesh.
xi. Sold goods purchased at list price of Rs.50,000 sold at a profit of 25% less 10%
trade discount against cheque.
xii. Aman returned goods of list price of Rs.10,000 sold to him at 10% trade discount.

Q 23. Journalise the following transactions in the books of Bhushan Agencies:

i. Received cash from Bharat Rs.20,000, allowed him discount of Rs.500.
ii. Received from Vikas Rs.35,000 by cheque, allowed him discount of Rs.750.
iii. Received cash from Akhil Rs.38,000 in settlement of his dues of Rs.40,000.
iv. Received from Amrit Rs.50,000 by cheque on account against dues of Rs.60,000.
v. Paid cash Rs.39,200 to Suresh in settlement of his dues, availed discount of 2%.
vi. Paid by cheque Rs.25,000 to Mehar in settlement of her dues of Rs.26,000.
vii. Paid Rs.25,000 to Yogesh by cheque on account.
viii. Purchased goods costing Rs.1,00,000 against cheque and availed discount of 3%.
ix. Purchased goods costing Rs.60,000 from Akash & Co., paid 50% immediately
availing 3% discount.
x. Sold goods of Rs.30,000 against cheque allowing 2% discount.
xi. Sold goods of Rs.60,000 to Vimal received 50% of due amount allowing 2%
discount.
xii. Mittal Bros. purchased 100 shawls @ Rs.3,000 per shawl. Allowed 10% Trade
Discount and 3% Cash Discount if payment is made within 14 days. Mittal Bros.
received 10 shawls of poor quality, which it returned. Mittal Bros. settled the
payment in 10 days.
xiii. Sold to Gupta Shawls, 100 shawls @ Rs.200 per shawl on 4th January, 2023.
Trade Discount 25% and Cash Discount 5% if full payment is made within 14 days.
Gupta Shawls sent 50% of the payment on 14th January, 2023 and balance
payment on 10th February, 2023.

Branch 1 : Bye pass road ,Chas Branch 2 : City Centre, Sec-4 Contact - 8092677189
Q 24. Journalise the following transactions:
i. Shyam became insolvent. Compensation of 75 paise in a rupee was received from
his Official Receiver. He owed us Rs.10,000
ii. Received cash from Ramesh whose account was written off last year as bad debt
Rs.5,000
iii. Rent due to landlord Rs.8,000
iv. Salaries due to staff Rs.10,000
v. Placed an order with Rakesh for supply of goods of the list price of Rs.1,00,000. In
this connection, Raman paid 10% of the list price as an advance by cheque.
vi. Supplied goods costing Rs.3,600 to Sanjay. Issued invoice at 20% above Cost less
10% Trade Discount.
vii. Paid Rs.1,000 in cash to Radhey for outstanding bill for printing.

Q 25. Journalise the following entries:

i. Goods costing Rs.500 given as charity.
ii. Sold goods to Mayank of Rs.1,00,000, payable 25% by cheque at the time of sale
and balance after 30 days of sale.
iii. Received Rs.975 from Harikrishna in settlement of his account of Rs.1,000.
iv. Received dividend of 60 paise in a rupee from the Official Receiver of Rajan, who
owed us Rs.1,000.
v. Charge interest on Drawings Rs.1,500.
vi. Sold goods to Anil costing Rs.40,000 for cash at a profit of 25% on cost less 20%
trade discount.
vii. Paid cartage of Rs.100 for delivery of goods.
viii. Paid income tax Rs.15,000.

Branch 1 : Bye pass road ,Chas Branch 2 : City Centre, Sec-4 Contact - 8092677189