ASSIGNMENT

Unit II: Journal

1. Journalise the following transactions in the books of Mr. Akshay.

 
2010 April 1 Mr. Akshay started business with Cash Rs 80,000.
  4 Purchased goods form Mona Rs 28,000.
7 Deposited cash into Dena Bank Rs 39,000.
10 Sold goods to Dinesh Rs 41,000.
13 Purchased Laptop of Rs 30,000 in cash.
17 Paid Mona by cheque Rs 30,000.
20 Paid wages Rs 500.

Date Particular Ledger Debit Amt Credit Amt

Folio
2010 Cash A/C Dr. 80,000
April 1 To Capital A/C 80,000
(Being the business
started with cash)
April 4 Purchase A/C Dr. 28,000
To Mona 28,000
(Being the Goods
purchased from Mona)
April 7 Bank A/c Dr. 39,000
To Cash A/c 39,000
(Being deposited cash
into Dena Bank)
April 10 Dinesh Dr. 41,000
To Sales A/c 41,000
(Being the goods sold )
April 13 Laptop A/c Dr. 30,000
To Cash A/Cc 30,000
(Being Laptop
Purchased in cash)
April 17 Mona Dr. 30,000
To Bank A/c 30,000
(Being paid Mona by
cheque )
 April 20 Wages A/c Dr. 500
To Cash A/c 500
(Being paid wages)

2. Journalise the following transactions in the books of Mantri.

2011 1 Commenced business with Cash Rs 1,20,000, Goods Rs. 60,000 and Furniture
June Rs 65,000.
  3 Opened a current account in Bank of Baroda by depositing Rs 75,000.
5 Cash purchases Rs 35,000.
9 Cash Sales Rs 55,000.
10 Purchased goods worth Rs 20,000 from Amit & Co. subject trade discount of
2%
14 Credit sales to Kalpana Rs 15,000.
16 Paid cash to Amit & Co. Rs 9,500 who allowed us discount Rs 100.
19 Goods distributed as free samples of Rs 1,500.
21 Received Cash from Kalpana Rs 4,800 on account and allowed her cash
discount Rs 200.
24 Returned goods of Rs 750 to Amit & Co.
26 Purchased shares of Rs 15,000 of HDFC Bank.
29 Received goods returned by Kalpana Rs 200.
30 Rent paid by cheque Rs 7,000

Date Particulars Ledge AMT Amt

r Folio
2011 Cash A/c 1,20,000
June 1 Dr. 60,000
Stock A/c 65,000
Dr. 2,45,000
Furniture A/c
Dr
To Capital A/c
(Commenced business with
cash,goods and Furniture)
June 3` Bank A/c Dr. 75,000
To Cash A/c 75,000
(Opened Bank A/c and cash
Deposited in Bank of
Baroda)
 June 5 Purchases A/c Dr. 35,000
To Cash A/c 35,000
(cash purchases made)
June 9 Cash A/c Dr. 55,000
To Sales A/c 55,000
(Goods sold for Cash )
June 10 Purchase A/c [20000-400] 19,600
Dr. 19,600
To Amit & Co
(Goods purchased worth
Rs20,000 at a trade
discount of 2%)
June 14 Kalpana 15,000
Dr. 15,000
To Sales A/c
(Credit sales to Kalpana)
June 16 Amit & Co. 9,600
Dr. 9,500
To Cash A/c 100
To Discount Received A/c
(cash paid to Amit & Co.
and Discount Received)
June 19 Advertisement A/c Dr. 1,500
To Purchase A/c 1,500
(Goods Distributed as free
samples)
June 21 Cash A/c Dr 4800
Discount Allowed A/c Dr 200
To Kalpana 5,000
(Cash received and
Discount allowed)
June 24 Amit & Co. Dr 735
To Purchases Return A/c 735
(Goods Returned to Amit &
Co)
June 26 Investment in shares A/c 15000
Dr 15000
To Cash A/c
(Purchase of shares of
HDFC Bank)

June 29 Sales Return A/c Dr. 200

To Kalpana 200
(Goods returned by
 kalpana)
June 30 Rent A/C Dr. 7000
To Bank A/c 7000
(Rent paid through cheque)

3. *Goods Returned to Amit of value Rs 750 will be recorded at a discount of 2% which

was allowed as trade discount i.e. at Rs735 [750-15(2% of 750].