25. Journalise the following entries: (i) Goods costing ₹500 given as charity. (ii) Sold goods to Mayank of ₹1,00,000, payable 25% by cheque at the time of sale and balance after 30 days of sale. (iii) Received ₹975 from Harikrishna in settlement of his account of ₹1,000. (iv) Received dividend of 60 paise in a … Read more
24. Journalise the following transactions: 2024 ₹ (i) Shyam became insolvent. Compensation of 75 paise in a rupee was received from his Official Receiver. He owed us 10,000 (ii) Received cash from Ramesh whose account was written off last year as bad debt 5,000 (iii) Rent due to landlord 8,000 (iv) Salaries due to staff … Read more
23. Journalise the following transactions in the books of Bhushan Agencies: (i) Received cash from Bharat ₹20,000, allowed him discount of ₹500. (ii) Received from Vikas ₹35,000 by cheque, allowed him discount of ₹750. (iii) Received cash from Akhil ₹38,000 in settlement of his dues of ₹40,000. (iv) Received from Amrit ₹50,000 by cheque on … Read more
22. Journalise the following transactions in the books of M/s. R.K. & Co.: (i) Purchased goods of list price of ₹20,000 from Vishal at 20% trade discount against cheque payment. (ii) Purchased goods of list price of ₹20,000 from Naman at 15% trade discount against cash. (iii) Purchased goods of list price of ₹30,000 from … Read more
21. Enter the following transactions in the Journal of Suresh, Delhi who trades in readymade garments: 2024 ₹ April 01 Suresh paid in bank as Capital 60,000 April 02 He bought goods and paid by cheque 24,000 April 03 Sold goods to Mukand & Co, Delhi 6,700 April 04 Sold goods for cash 10,900 April … Read more
20. Journalise the following transactions of Rakesh Agencies, Delhi (Proprietor Shri Rakesh): 2024 ₹ Jan.01 Rakesh commenced business with cash 50,000 Jan.02 Purchased goods for cash 10,000 Jan.05 Purchased goods from Mohan, Delhi. 60,000 Jan.07 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 … Read more
19. Journalise the following transactions of Singh Enterprises, Delhi: 2024 ₹ June 01 Started business with cash 50,000 June 02 Deposited cheque from Savings Account in firm’s account 2,00,000 June 03 Received cheque from Ram as loan 50,000 June 04 Purchased goods for cash 15,000 June 11 Sold goods to M/s Hari Sales, Delhi 12,000 … Read more
18. Journalise the following transactions of Gurman: 2024 ₹ Jan. 01 Gurman started business with cash 2,00,000 Jan. 02 Paid into bank 60,000 Jan. 03 Bought goods from Singh & Co. 20,000 Jan. 03 Paid cartage on goods purchased 300 Jan. 04 Purchased furniture 2,000 Jan. 04 Paid advance for purchase of HP Printers for … Read more
17. Following transactions of Ramesh for April, 2024 are given below. Journalise them. 2024 ₹ April 01 Ramesh started business with cash. 1,00,000 April 02 Paid into bank. 20,000 April 03 Bought goods for cash. 50,000 April 04 Drew cash from bank for office use 10,000 April 13 Sold goods to Krishna 15,000 April 20 … Read more
16. Pass Journal entries for the following transactions: (a) Muskaan started business with Cash ₹3,00,000, Stock ₹5,00,000 and building ₹25,00,000. (b) Construction of power-back room ₹1,00,000. (c) Paid insurance premium for stock ₹15,000 and self ₹7,000. (d) Goods destroyed by fire ₹80,000, Insurance Claim lodged. (e) Commission received ₹25,000, 20% being received in advance. (f) … Read more