27. Journalise the following: (i) Received a V.P.P. from Mohan Lal for ₹25,000. Sent a peon to collect it who paid ₹200 as cartage. (ii) Received ₹1,000 from sales of old newspapers and ₹5,000 from sales of old chairs. (iii) Goods given away as charity goods costing ₹7,000. (iv) Received Cash from a debtor written … Read more
26. Journalise the following: Purchased goods for ₹25,000 for Cash and paid ₹200 for carriage on these goods. Purchased goods for ₹40,000 on Credit from Sudhir and paid ₹500 for carriage on these goods. Purchased machinery for ₹20,000 and spent ₹500 on its carriage and ₹300 on its installation. Purchased goods from Anil for ₹15,000. … Read more
25. Journalise the following: 2023 March 4 Purchased building for ₹1,50,000 and incurred expenses of ₹10,000 on its purchase. March 10 Satish who owed us ₹20,000 is declared insolvent and 60 paise per is received from his estate. March 15 Paid ₹500 for repairing the office furniture. March 18 Proprietor withdrew for his personal use … Read more
24. Journalise the following transactions in the books of Kanishk Traders : (i) Sold goods costing ₹1,20,000 to Charu at a profit of 33⅓% on cost less 15% Trade Discount. (ii) Sold goods costing ₹80,000 to Arun against cheque at a profit of 25% on cost less 15% Trade Discount. (iii) Paid by cheque ₹8,400 … Read more
23. Journalise the following transactions in the Journal of Navin Gupta & Sons.: Out of Insurance premium paid this year, ₹15,000 is related to next year. Credit purchases from Ram & Co. for ₹50,000. Cash discount will be received at 5% on payment of bill within 10 days. Cash paid to Ram & Co. and … Read more
22. Prepare journal from the transactions given below: (a) Proprietor withdrew for private use ₹10,000 from bank. (b) Goods costing ₹50,000 were burnt by fire. (c) Purchased machinery for cash ₹1,50,000 and paid ₹2,000 on its installation. (d) Charge 5% depreciation on building costing ₹2,00,000 and 8% depreciation on furniture costing ₹5,000. (e) Prepaid salary … Read more
21. Journalise the following transactions : (i) Sold goods to Brijesh of the list price of ₹10,000 at trade discount of 5%. Received full payment in cash. (ii) Goods given away as charity ₹1,000. (iii) Charge interest on capital of ₹5,00,000 @ 7% p.a. (iv) Outstanding wages ₹3,000. (v) ₹5,000 due from Sunny are now … Read more
20. Journalise the following transactions: Goods for ₹50,000 were destroyed by fire. Goods worth ₹18,000 were distributed as free samples and ₹20,000 were given away as charity in cash. Goods worth ₹25,000 and cash ₹40,000 were taken away by the proprietor for his personal use. Goods worth ₹20,000 and cash ₹5,000 were given away as … Read more
19. Pass Journal entries for the following transactions Purchased Machinery for ₹20,000 and paid ₹200 for its carriage. Received a cheque of ₹4,850 from X in full settlement of his account of ₹5,000. Cheque was immediately deposited into bank. Received by cheque a first and final payment of 60 paise in a from Y who … Read more
18. Journalise the following transactions of Raj Kumar Traders, timber merchants Purchased timber from Kuldeep Kumar, for cash ₹2,000 and credit ₹10,000. Paid to Kuldeep Kumar in full settlement of his account ₹9,950. Paid rent in advance ₹10,000. Purchased machinery for ₹1,00,000 by cheque and carriage ₹2,000 and installation charges ₹1,000 paid in Cash. Purchased … Read more