EKAAM EDUCATION INSTITUTE

TEST OF JOURNAL ENTRIES

TIME ALLOWED – 1 and Half Hour, TOTAL MARKS – 40

Q1. PASS THE FOLLOWING JOURNAL ENTRIES: { 20 Marks)

1) Received from Ram Rs 12000 in cash and allowed him discount of Rs 100.
2) Received cash for a bad debts written off last year Rs 700.
3) Sold household furniture for Rs. 5000 and paid the money into business in
cash.
4) Paid Rs 4000 in cash as wages on installation of machinery.
5) Rent due to landlord Rs 7000.
6) Interest received from bank Rs 2000.
7) Prepaid rent Rs 2500.
8) Interest paid on loan Rs 3000.
9) Interest on Drawings Rs 4000.
10) Interest on Capital Rs 6000.
11) Rs.9000 received from Priya in full settlement of her dues, after discount of 10%.
12) Paid landlord Rs 15000 for rent. One third of the premises is occupied by
the proprietor for his own purpose.
13) A cheque for Rs 5000 received form Amit deposited into bank was returned
dishonored.
14) Goods costing Rs.10000 sold at a loss of 10% out of which Rs.3000 received
in cash and remaing in cheque.
15) Security paid for internet connection amounted Rs.10000 by cheque.
16) Loan taken from ICICI Bank Rs.500000.
17) Accrued fee amounted Rs.5000.
18) Rs.100000 invested into business.
19) Rs.20000 withdrawal from bank for personal use.
20) Depreciation charged on Machinery @ 10% pa (Cost of Machinery=100000)
Q.2 DEFINE FOLLOWING TERMS: { 10 Marks}

a) Prepaid Expense
b) Accrued Income
c) Outstanding Expense
d) Accrual Concept
e) Capital
f) Drawing
g) Debtors
h) Creditors
i) Depreciation
j) Stock (Inventory)
Q.3 WHAT IS THE SHORTKEY OF THE FOLLOWING: { 10 Marks}

a) For passing Duplicate Entry

b) To Shut Down Company
c) To activate Debit Note and Credit Note Feature
d) To activate Discount Option
e) To see the particular Ledger
f) To open Calculator in tally
g) To Alter
h) Debit Note
i) Company Info
j) To create ledger from home page