1. Enter the following transactions in the Journal of Manohar Lal & Sons. 2023 ₹ March 1 Manohar Lal & Sons started business with cash 60,000 2 Purchased furniture for cash 10,000 4 Purchased goods for cash 25,000 5 Bought goods from Kamlesh 15,000 10 Paid cash to Kamlesh 15,000...

2. Enter the following transactions in the Journal of M/s Tripathi Bros. 2023 ₹ Jan. 6 Sold goods for cash 36,000 8 Sold goods to Hari 30,000 14 Received cash from Hari 18,000 26 Received Commission 750 27 Paid Salary to Gopal 1,200 28 Received cash from Hari 12,000 29...

3. Enter the following transactions in the Journal of Sahil Bros. : 2022 ₹ October 1 Purchased goods from Anil for Cash 40,000 3 Purchased goods from Atul 75,000 6 Returned goods to Atul 3,000 8 Paid cash to Atul S0,000 10 Sold goods to Charu 1,00,000 12 Charu returned...

4. Enter the following transactions in the Journal of Ganesh Bros 2023 ₹ March 3 Sold goods to Dev 1,00,000 5 Received from Dev in full settlement of his account 98,000 6 Sold goods to Manmohan 80,000 8 Manmohan returned goods 1,000 15 Received from Manmohan in full settlement of...

5. Pass Journal entries in the books of Hari Shankar & Co. from the following: 2023 ₹ April 1 Commenced business with cash 50,000 2 Purchased goods from Subhash 20,000 4 Sold goods to Ramnath 15,000 6 Ramnath returned defective goods 1,000 10 Received cash from Ramnath and 13,800 Discount...

6. Enter the following transactions in the Journal of Marutinandan Stores: 2023 Jan. 10 Purchased goods from Ghanshyam of the list price of ₹50,000 at 15% trade discount. 13 Returned goods to Ghanshyam of the list price of ₹2,000. 15 Paid cash to Ghanshyam ₹40,000 in full settlement of his...

7. Pass Journal Entries for the following transactions: 2023 Jan. 6 Sold goods to Muskan of the list price of ₹2,00,000 at trade discount of 20%. 8 Muskan returned goods of the list price of ₹5,000. 15 Received from Muskan the full payment under a cash discount of 4%. D.K.Goel/2024...

8. Give Journal Entries for the following transactions in the books of Raja Ram & Co.: 2023 March 3 Bought goods for cash of the list price of ₹80,000 at 10% trade discount and 2½% cash discount. 5 Sold goods for cash of the list price of ₹1,00,000 at 15%...

9. Pass Journal entries in the books of Raghunath Bros. from the following transactions 2022 June 1 Raghunath Bros. started business with cash ₹80,000; Goods ₹40,000 and furniture ₹20,000. June 2 Sold goods to Nandlal of the list price of ₹20,000 at trade discount of 10%. June 4 Nandlal returmed...

10. Journalise the following transactions 2023 March 5 Sold goods to Shruti for ₹80,000 at 15% trade discount and 4% cash discount. Received 75% amount immediately through a cheque. 10 Purchased goods from Richa for ₹60,000 at 10% trade discount and 5% cash discount. 60% amount paid by cheque immediately....

11. Pass journal entries for the following: 2023 Jan. 6 Purchased goods from Henry for ₹50,000 on 10% trade discount and 4% cash discount and paid 60% amount by cheque. Jan. 15 Bought goods from Amit for ₹2,00,000 at terms 5% cash discount and 20% trade discount. Paid 3/4th of...

12. Journalise the following transactions in the books of Dixit & Sons.: 2023 March 2 Sold goods to Dilip of the list price of ₹62,000 for ₹60,000. 16 Purchased goods costing ₹2,00,000 from Hari & Co. Paid 75% immediately by cheque to avail 4% discount. 20 Sold goods to Vishal...

13. Journalise the following transactions : 2023 ₹ Jan. 1 Paid into bank for opening a Current Account 10,000 3 Goods sold for ₹50,000 and the amount was deposited into the bank 7 Amount withdrawn from bank 20,000 10 Goods sold for Cash 15,000 12 Amount deposited into bank 12,000...

14(A). Following balances appeared in the books of Radhika Traders as on 1st April, 2023:  Assets: Cash ₹8,000; Cash at Bank ₹7,000; Stock ₹30,000; Debtors : ₹36,000 (Mohan ₹10,000; Sohan ₹12,000; Dinesh ₹14,000); Furniture ₹5,000; Building ₹25,000.  Liabilities: Creditors X ₹5,000; Y ₹6,000. 2023 ₹ April 2 Bought goods of...

15. Pass Journal Entries for the following transactions :  Provide depreciation on Furniture ₹5,000 and on Machinery ₹20,000. Received cash₹10,000 for bad-debts written off last year.  Ajay Singh was declared bankrupt. He owed ₹25,000 to us. Nothing could be recovered from his estate.  ₹2,00,000 for wages and ₹40,000 for salaries...

16. Pass journal entries for the following : 2023 Jan. 5 Purchased goods for Cash ₹10,000 and spent ₹200 for their carriage. Jan. 10 Purchased machinery for Cash ₹50,000 and spent ₹500 for its carriage. Jan. 15 Paid by cheque ₹2,00,000 for cement, ₹1,00,000 for timber and ₹50,000 as wages...

17. Enter the following transactions in the Journal of Arun Govil & Co,: 2022 June 1 Arun Govil & Co. paid into bank as capital ₹6,00,000. June 3 Purchased goods from Mukesh of the list price of ₹2,00,000 at 10% trade discount. June 4 One-fourth of the above goods returned...

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...

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...

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...

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...

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...

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...

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. ...

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...

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...

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...

28. Journalise the following transactions : 2023 April 1 Purchased goods for ₹1,00,000 from Manoj and availed discount of ₹10,000. 2 Paid amount due to Manoj by cheque and availed discount of ₹4,500. 5 Cash ₹5,000 paid to Desai and discount allowed by him ₹200. 10 Cash ₹10,000 received from...

29. Give the journal entries corresponding to the narration given below: S No. Particulars L.F. AmountDebit (₹) AmountCredit (₹) (i) Dr. Dr. To (Goods of the list price of ₹5,000 sold at 10% trade discount and 2% cash discount) (ii) (The purchase of Motor Car for ₹80,000 and the payment...

30. Rectify the following entries assuming that the narration in each case is Correct: Date Particulars L.F. AmountDebit (₹) AmountCredit (₹) May 4 Building A/c Dr. 5,00,000 Brokerage A/c Dr. 10,000 To Bank A/c 5,10,000 (Purchase of building and payment of brokerage on its purchase) May 10 Drawings A/c Dr....

31. Journalise the following transactions :  (a) Goods destroyed by Fire for ₹5,000. (b) Paid by cheque ₹25,000 as wages on installation of a Machinery.  (c) Issued a cheque in favour of M/s Parmatma Saran & Sons on account of purchase of goods ₹75,000.  (d) Goods sold costing ₹60,000 to...

32. Journalise the following transactions ₹ 1. Charge depreciation on Machinery 20,000 2. Salary due to Office Clerks 1,00,000 3. Received cash for Bad-Debts written off last year 5,000 4. Purchased goods from Ashok & Co. for ₹50,000 at 20% Trade Discount. Half the payment was made in cash. 5....

33. Journalise the following transactions 2023 ₹ March 1 Started business with cash 50,000 2 Purchased Machinery for cash 20,000 Paid installation charges on machinery 2,000 5 Purchased goods from X of the list price of ₹25,000, Trade Discount 20% and cash discount 5%. Payment was made in cash immediately....

34. Journalise the following transactions :  Purchased a Motor Car for ₹3,00,000 and paid ₹25,000 for its repair and renewal. Entire payment is made by cheque.  Received Rent ₹5,000.  Goods worth ₹20,000 were distributed as free samples.  Charge depreciation on Motor Car ₹32,500.  Rent due to Landlord ₹10,000 and Salary...

35. Journalise the following transactions:  (i) Bought goods from Arun for ₹2,00,000 at a trade discount of 15% and cash discount of 2%. Paid 80% amount immediately.  (ii) Purchased goods for ₹20,000 from X and supplied it to Y for ₹26,000.  (iii) Cash withdrawn from bank ₹5,000 for personal use...

36. Journalise the following in the books of Som Nath & Sons: 2023 May 1 Purchased a Machinery for ₹1,00,000 and the payment was made by issuing a cheque from Proprietor’s saving bank account. 4 Received an order from Chakravarti for goods of ₹4,00,000 alongwith a cheque of 10% of...

37. Journalise the following transactions in the books of Prakash :  (i) Opened a current account with Punjab National Bank ₹1,00,000.  (ii) Received a cheque of ₹12,900 from Chandradev and allowed discount ₹300 to him. The cheque was deposited into Bank on the same day.  (ii) Purchased machinery for ₹1,00,000,...