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Journal Entries Practical

TOPIC-WISE QUESTIONS
Q1. Capital transactions.

1. Shikha started business with cash Rs. 50,000.

2. Shikha started business with bank balance of Rs. 50,000
3. Shikha started business with cash Rs. 50,000 and a cheques for Rs. 50,000.
4. Shikha started business with cash Rs. 5,00,000 and bank a/c Rs. 50,000,
goods Rs. 5,00,000 furniture Rs. 2,00,000, machinery Rs. 3,00,000.

Q2. Purchase transactions.

1. Goods purchased from Falana Rs. 5,00,000.

2. Paid to Falana on account Rs. 3,00,000.
3. Paid to Falana in settlement of his remaining account Rs. 1,75,000.
4. Purchase goods from Rathi traders for Rs. 7,00,000 less T.D. @10%.
5. Purchase goods for Rs. 50,000 against cash.
6. Purchase good from Alfa Traders on cash Rs. 5,000.
7. Paid to Rathi Traders received 5% cash discount.
8. Purchased goods from Mahi for List price Rs. 5,00,000 less trade discount
@5%.
9. Returned Goods to Mahi for List Price Rs. 70,000
10. Paid to Mahi by cheque received 2% Cash Discount.
11. Purchased goods from Virat for Rs. 5,00,000. Paid to Virat through cheque
half payment immediately.

Q3. Sales Transactions.

1. Sold goods to Ram against cash Rs. 50,000

2. Sold goods on cash Rs. 50,000.
3. Sold Goods to Radha for Rs. 5,00,000, half payment received immediately.
4. Received a cheque from Radha in full settlement of her remaining account.
5. Sold goods to Simran of List Price Rs. 5,00,000 less Trade Discount @10%.
6. Simran paid fully in cash, allow her discount @2%
7. Sold goods to Radhika for Rs. 3,00,000.
8. Received Rs. 2,75,000 from Radhika in settlement of her account,

Q3. Banking Transactions.

1. Ridhi started business with cash Rs. 2,00,000.

 2. Opened a bank account with cash Rs. 50,000.
3. Opened a bank account in PNB by transferring Rs. 50,000 from her savings
account.
4. Raveena started buinsess with a bank account of Rs. 5,00,000.
5. Purchased goods from Ram Rs. 5,00,000 paid by cheque.
6. Sold Goods to Ganga for Rs. 5,00,000
Case I Received a cheque from Ganga and depositied in bank on the
same day.
Case II Received a cheque from Ganga and deposited the cheque on
the next day.
Case III Ganga paid through interent banking.
Case IV Ganga paid through directly depositing cash in bank.
7. Ganga’s cheque become dishnonoured, bank charged Rs. 50.
8. Bank charges Rs. 100
9. Bank debited the charges Rs. 100
10. Paid for credit purchase to Kanha through internet transaction.
11. Paid goods from Changu Rs. 20,000.
12. Paid Changu through draft, bank charged Rs. 500.
13. Transferrd |Rs. 20,000 from PNB account to SBI account.
14. Took loan of Rs. 2,00,000 from bank.
15. Purchased building from Sahu for Rs. 20,00,000 , paid by taking a loan.
16. Paid Ist installment of loan Rs. 2,00,000 and interest Rs. 50,000.

Q3. Expense Transactions.

1. Paid Electricity Bill Rs. 5,000.

2. Paid wages Rs. 5,000.
3. Paid Rent Rs. 5,000
4. Paid rent, wages, travelling expenses of Rs. 5,000 each.
5. Bank made payment for insurance premium of Rs. 10,000.
6. Raju, an employee, was sent to Delhi for some office work, paid him advance
for travelling Rs. 5,000.
7. Raju gave a bill of Rs. 4,200 on return and the balance amount.
8. Paid rent of the month Rs. 5,000, half payment made through bank and half
in cash.
9. A company closes its books on 31st March on every year. On 1st July, 2020 it
paid Rs. 12,000 for rent for 12 months and at the end of the accounting year
it was found that rent was already paid for the next 3 months.
10. A company closes its books on 31st March on every year. On 1st July, 2020 it
paid Rs. 12,000 for rent, in which Rs. 3,000 belongs to the next accounting
year.
11. Salary paid Rs. 50,000, at the end of the year it was found that salary of Rs.
10,000 was due but not paid yet.
12. Salary due for the period was Rs. 60,000 but only Rs. 50,000 were paid.
 13. Salary paid Rs. 50,000.

Q4. Income transactions.

1. Received interest for Rs. 5,000.

2. Received commission of Rs. 10,000.
3. Interest on investement Rs. 5,000 is due till the end of the accounting year
to be received.
4. Interest due for the year Rs. 5,000, received only Rs. 3,000.
5. Interest due for the year Rs. 10,000
6. Interest received Rs. 10,000 out of which Rs. 2,000 stands towards the next
year.
7. Rent received Rs. 12,000.
8. Rent of Rs. 2,000 included in the above belongs to the next year.

Q5. Discount Transactions.

1. Sold good to Janvi of List price Rs. 1,00,000 less 10% trade discount.
2. Janvi paid on next day in cash, allowed her Discount of 2%.
3. Purchased goods from sarita of List price Rs. 2,00,000 less 10\% trade
discount.
4. Paid Sarita throught a draft, bank charged Rs. 500. Sarita allowed discount
of 5%
5. Purchased good from Mohan 150 units @ Rs.1000 per unit less trade
discount of 10%.
6. Returened 50 units to Mohan.
7. Purchased 200 units of goods from Raman @Rs. 1500 per unit less trade
discount @10%
8. Raman accepted the return of 50 units.
9. Paid to Mohan received 5% cash discount.
10. Paid to Raman Rs. 85,500 in full settlement of his account.
11. Sold goods to Aman of List price of Rs. 15,00,000 less trade discount @10%,
40% payment done by cheque immediately.
12. Received balance from Aman in cash, allow his 5% cash discount.

COMBINE QUESTIONS

Q5. Journalise the following entries in the books of Rakesh.

1. Rakesh started business with cash Rs. 5,00,000.

2. Opened a bank account at SBI with cash Rs. 2,00,000
3. Purchased goods for cash Rs. 20,000
4. Purchased goods from Rajat Rs. 50,000
5. Purchased goods from Rani on cash Rs. 20,000
6. Purchased Machinery on cash Rs. 2,00,000
7. Paid installation charges on machinery Rs. 10,000
 8. Sold goods to Mohan Rs. 60,000
9. Sold goods on cash Rs. 40,000
10. Sold goods to Minti against cash Rs. 50,000.
11. Paid electricity charges Rs. 20,000
12. Returned goods to Rajat rs. 10,000
13. Returned goods by mohan Rs. 12,000
14. Received dividend in bank Rs. 2,000
15. Received Rs. 40,000 from mohan on account.
16. Paid to Rajat Rs. 40,000 in full settlement of his account.
17. Dues from Mohan written off as bad debt.
18. Bank charges paid Rs. 200
19. Purchased furniture from Gupta traders for Rs. 20,000
20. Made payment to Gupta traders by cheque
21. Sold goods to Radhe Rs. 40,000
22. received cheque form Radhe
23. deposited cheque in bank
24. Radhe’s cheque become dishonoured, bank charged Rs. 20.
25. Purchased Table lamp for office use from Radha Rs. 5000
26. Paid to Radha by draft, bank charged Rs. 50.
27. Opened bank account with HDFC and transferred Rs. 80,000 from SBI
bank account.
28. Received interest Rs. 2000 in advance
29. Lost goods in transit Rs. 5000.
30. Sold a part of machinery costing Rs. 50,000 at Rs. 40,000.

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