1. Journalise the following transactions in the books of Ram: 2024 ₹ April 01 Business started with cash 1,00,000 April 02 Goods purchased for cash 25,000 April 03 Goods purchased from Pankaj on credit 18,000 April 05 Goods sold to Naresh on credit 9,000 April 07 Goods returned to Pankaj...

2. Enter the following transactions in the Journal of Gurman: 2024 ₹ June 01 Gurman invested capital in cash 1,00,000 June 03 Purchased goods from Harish 10,000 June 05 Purchased goods for cash 8,000 June 08 Purchased goods from Mohit for cash 7,000 June 10 Sold goods to Kailash on...

3. Record the following transactions in the Journal of Amitabh: 2024 ₹ May 01 Amitabh started business with cash 80,000 May 02 Purchased furniture from Modern Furnishers for cash 10,000 May 05 Deposited in bank 30,000 May 06 Purchased goods for cash 5,000 May 08 Purchased goods on credit from...

4. Pass necessary Journal entries for the following transactions: 2024 April 05 Paid salaries ₹30,000, rent ₹10,000 and wages ₹8,000 by cheque. April 07 Purchased goods from Hari for ₹30,000 at 10% trade discount and 2% cash discount. Payment was made immediately. April 15 Paid to Raju ₹5,000 in cash...

5. Pass necessary Journal entries for the following transactions: 2024 April 01 Mohan is declared insolvent. Received first and final dividend from his official Receiver 50 paise in a rupee against a debt of ₹5,000 April 02 ₹8,000 due from Ramesh is not recoverable April 03 Shyam, who owed ₹15,000...

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 Pass necessary Journal entries for the following transactions: 2024 ₹ April 01 Deposited in bank 30,000 April 03 Cash withdrawn from bank 10,000 April 07 Wages paid by cheque 7,000 April 10 Cheque received from Deewan ₹8,500 and discount allowed to him ₹500.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...

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entries for the following transactions: 2024 ₹ April 01 Deposited in bank for opening a Current Account 10,000 April 02 Withdrawn from bank 5,000 April 05 Received a cheque from Ramesh to whom goods were sold for ₹12,000 last year Allowed him 1% discount on...

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 Pass necessary Journal entries for the following transactions: 2024 ₹ April 01 Goods withdrawn by owner for personal use 1,000 April 02 Goods distributed as sample 500 April 03 Goods Given as Charity 300 April 04 Timber used for making office furniture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...

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...

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...

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...

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...

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...

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...

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...

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%...

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...

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...

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...

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...

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...

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...

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...

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...

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...