15. Pass Journal entries for the following transactions: (a) Surekha started business with cash ₹5,00,000. (b) Bought goods from Goyalson’s for ₹3,00,000, paid half by cash. (c) Sold goods to Sonika for ₹1,00,000, received ₹60,000 immediately. (d) 10% of the goods returned by Sonika being defective. (e) Paid to Goyalson’s ₹1,49,000 in full settlement. (f) … Read more
14. Pass Journal entries for the following transactions: (a) Tejvir started business with cash ₹5,00,000. (b) Opened a bank account depositing ₹3,00,000. (c) Invested in shares (personal) for ₹50,000, paid out of Saving Account. (d) Bought goods (timber) for ₹3,00,000, paid half by cash and half by cheque. (e) Paid carriage for unloading the timber … Read more
13. Pass Journal entries for the following transactions: (a) Aakash started business with cash ₹3,00,000; Bank deposit of ₹40,00,000 and furniture ₹4,00,000. (b) Bought goods from Bhushan Traders ₹30,00,000 against cheque of ₹15,00,000, balance to be paid later. (c) Returned goods of ₹1,20,000 to Bhushan Traders. (d) Sold goods to Pawan ₹4,00,000. (e) Paid to … Read more
12. Pass Journal entries for the following transactions: (a) Pankaj started business with cash ₹2,00,000 and Bank ₹8,00,000. (b) Bought a machinery for ₹25,00,000 by making a down-payment of 10%. (c) Paid ₹48,000 as wages for installation of machine. (d) Bought goods from Chhabra Bros. ₹3,00,000. (e) Withdrawn from bank ₹50,000. (f) Repaid bank loan … Read more
11. Following balances existed in the books of M/s. Anand Stores as on lst April, 2024: Assets: Cash ₹60,000; Bank ₹40,000; Stock ₹1,50,000; Furniture ₹43,000: Debtors ₹1,45,000 (X ₹35,000; Y ₹50,000; Z ₹60,000). Liabilities: Loan from Vikas ₹60,000; Creditors ₹52,500 (A ₹22,500; B ₹30,000). Pass necessary Journal entry to record the above balances. T.S.Grewal/2024 … Read more
10. Pass Journal entries for the following adjustment on 31st March, 2024: (i) Interest due but not received ₹10,000. (ii) Salaries due to staff ₹50,000. (iii)) Out of the rent paid this year, ₹5,000 is for the next year. (iv) Provide 10% depreciation on Furniture costing ₹1,00,000. (v) Goods used in making Furniture (Sales Price … Read more
9. Pass necessary Journal entries for the following transactions: 2024 ₹ April 01 Paid repairing charges on existing machineries. 1,000 April 02 Purchased a new machinery 42,500 April 03 Paid freight and carriage on machinery 2,500 April 04 Paid installation charges on machinery 5,000 April 05 Purchased a second-hand machinery 18,000 April 06 Paid repairing … Read more
8. Pass necessary Journal entries for the following transactions: 2024 ₹ April 01 Goods withdrawn by owner for personal use 1,000 April 02 Goods distributed as sample 500 April 03 Goods Given as Charity 300 April 04 Timber used for making office furniture (Assume that the firm is a timber merchant) 5,000 April 05 Goods … Read more
7. Pass the necessary Journal entries for the following transactions: 2024 ₹ April 01 Deposited in bank for opening a Current Account 10,000 April 02 Withdrawn from bank 5,000 April 05 Received a cheque from Ramesh to whom goods were sold for ₹12,000 last year Allowed him 1% discount on payment April 07 Ramesh’s cheque … Read more
6. Pass necessary Journal entries for the following transactions: 2024 ₹ April 01 Deposited in bank 30,000 April 03 Cash withdrawn from bank 10,000 April 07 Wages paid by cheque 7,000 April 10 Cheque received from Deewan ₹8,500 and discount allowed to him ₹500. Cheque is deposited in bank on the same day. April 12 … Read more