1.

Journalize the following :

1996 Jan Rs
3 Received cash from Ram 15,000
4 Purchased goods for cash 2,500
11 Sold goods to Hari 3,200
13 Paid Ramesh 1,400
17 Received from Hari 1,110
20 Bought furniture from Ram 2,200
27 Paid Rent 480
30 Paid Salary 1,100

Ans. [Total of Journal Rs. 26,980]

2. Transaction of Ramesh for April, 1996 is given below. Journalize them :

1996 April Rs
1 Ramesh started business with cash 40,000
2 Paid into Bank 28,000
3 Bought goods for cash 2,500
4 Drew cash from Bank for Office 1,100
13 Sold to Krishna Goods on credit 2,150
20 Bought of Shyam Goods on credit 4,225
24 Received from Krishna 2,100
Allowed him Discount 50
28 Paid Shyam cash 4,000
Discount allowed 225
30 Cash sales for the month 8,000
Paid Rent 500
Paid Salary 1,000

Ans. [Total Journal Rs. 93,850]

3. Journalize the following transaction :

1996 Jan Rs
1 Started bussiness with cash 50,000
2 Paid into Bank 36,000
3 Bought goods from M/s Singh & Co. on credit 22,000
4 Purchased furniture 4,200
Purchased adding machine & typewritter
(Payment in all cash made by cheque) 8,400
6 Paid for postage 215
8 Sold goods for cash 5,400
9 Sold goods on credit to M/s Sharda & Co. 4,600
15 Paid to M/s Singh & Co. 21,000
Discount allowed by them 1,000
25 Sold goods to M/s Ray & Co. 5,000
26 Received cheque from M/s Sharda & Co. in full
(settlement of amount due by them) 4,560
31 Paid for Electric charges 100
Paid salary 1,500
Paid rent by cheque 2,000
Drew for Private use 3,500

Ans. [Total Journal Rs. 1,_9,515]

4. Journalize the following transaction in the book of trader :

1995 Dec Rs
1 Started bussiness with cash 50,000
3 Goods purchased for cash 30,000
3 Furniture purchased for cash 5,000
7 Sold goods for cash 10,000
9 Sold goods to Naresh Kumar 8,000
12 Goods purchased from Vinod Kumar 5,000
16 Goods sold to Anil & Llowed him 10% trade discount 6,000
22 Cash received from Naresh Kumar
in full settlement of his account 7,600
25 Cash paid to Vinod Kumar & he allowed discount 4,200
28 Cash paid for purchase of stationery 250
31 Paid Office rent 800
31 Goods returned to Vinod Kumar 500
31 Paid salaries to Staff 900

Ans. [Journal Total Rs. 1,25,850]

5. Enter the following transactions in the Journal of Viswanath for the month of March 1995 :

1995 Mar Rs
1 Viswanath commenced Bussiness with a capital of 30,000
2 Bought Machinery 5,000
3 Bought goods for cash from Madan Lal 2,500
3 Sold goods for cash to Giri 4,000
4 Purchased goods from Jai Sinha 3,000
6 Cash Sales 5,000
10 Received interest from Mukund 2,000
11 Depostied cash into Bank 6,000
14 Paid cash to Jai Sinha (in settlement of his account) 2,900
16 Sold goods to Venkatesh 4,000
18 Venkatesh settled his account by cheque & deposited with the Bank 3,890
20 Paid rent by cheque 500

Ans. [Jounal Total Rs. 69,000]

6. Journalize the following transaction in the book of Ravi :

1996 Jan Rs
1 Started bussiness with cash 100,000
1 Paid into Bank 50,000
2 Goods purchased for cash 30,000
3 Purchase of furniture & payment by cheque 10,000
5 Sold goods for cash 20,000
8 Sold goods to Ramesh 10,000
10 Goods purchase from Ajay 15,000
12 Goods returned to Ajay 1,000
15 Goods returned by Ramesh 500
18 Cash received from Ramesh 9,300
Discount allowed to him 200
21 Withdraw from Bank for Persoanl use 2,000
Withdraw from Bank for the use in bussiness 12,000
25 Paid Telephone rent for one year 1,200
28 Cash paid to Ajay (in full settlement of his account) 13,700
 31 Paid for Stationery 4,400
Paid for rent 2,000
Paid salaries to Staff 5,000

Ans. [Journal Total Rs. 2,86,600]

7. Journalize the following transaction tn the book of Rama & Co. :

1996 Jan Rs
1 Bussiness started with 50,000
Cash Deposite in the Bank 20,000
Goods purchased in cash 10,000
2 Furniture purchased for cash 3,000
Office Stationery purchased for cash 2,000
3 Goods purchased from X 20,000
5 Goods sold to Y 25,000
Paid rent 1,000
8 Paid for repairs 800
9 Paid for Advertisement 1,500
Cash paid to X 10,000
Discount received 50
10 Goods purchased from Z 9,000
Goods purchased from A in cash 6,000
15 Cash paid to Z (in full settlement of his account) 8,800
16 Cash received from Y (in full settlement of his account) 24,500
20 Goods sold to B 6,000
Goods purchased in cash 9,000
25 Cash withdraw from Bank 5,000
Cash paid to X 4,000
X allowed an discount of 100
28 Cash received from B 3,000
He was being allowed a discount of 200
31 Cash paid for electricity 400
Cash paid for salaries 1,000
Wages paid 500
Rent Paid 400

Ans. [Total Journal is Rs. 2,25,950]

8. Journalize the following transaction of M/s Hari & Sons :

1996 July Rs
1 Bussiness started with cash 10,000
Cash deposited in Bank 60,000
2 Machine purchased from A in credit 20,000
5 Furniture purchased from B for cash 10,000
10 Goods sold to Y 9,000
11 Goods returned by Y 1,000
12 Goods sold for cash 20,000
15 Purchase of good for cash 10,000
18 Cash received from Y 4,000
20 Cash paid to X 8,000
25 Cash withdrawn from Bank 20,000
28 Advertisement expenses 5,000
30 Office stationery purchased 2,000
31 Paid rent 1,000
31 Cash withdrawn from Bank for personal use of proprietor 2,500
Ans. [Total of the Journal 2,71,500]

9. Journalise the following :

i) Commenced bussiness with Cash Rs. 30,000

ii) Paid rent in Advance Rs. 500
iii) Purchased goods for cash Rs. 15,000
Purchased goods for credit Rs. 10,000
iv) Bought Motor Cycle for for personal use for Rs. 6,000 & the payment madeout of
bussiness money
v) Received Cash for a bad debt written off last year Rs. 100
vi) X, a debtor of the firm became insolvent. A first and final payment of 60paise was
received from his total dues of Rs. 200
vii) Goods were taken away by proprietor for his personal use worth Rs. 500
viii)
A cheque of Rs. 4,900 was received from Mohan against full and final settlement of Rs.
5,000 due from him. This cheque was deposited into bank of the same day. After five
days the bank intimates the dishonouring of Mohan's cheque

10. Journalize the following transactions :

a) Bought goods on credit for A Rs. 2,000

b) Goods returned by B Rs. 250
c) Paid carriage inward Rs. 50
d) Cheque of Rs. 700 received from C in settlement of a debt of Rs. 750 returned
dishonoured
e) Paid insurane premium of Rs. 150
f) Sale of Typewriter for Rds. 1,500
g) Rs. 1,250 owing by M written off as bad debt
h) Sold goods Rs. 1,250 to X on credit
i) Ram owes Rs. 2,850 pays Rs. 2,775 in full settlement
j)
M/s A & Co. who owes Rs 6,000 became solvent. Only 30% of the amount due is realised
k) Withdrew for domestic use Rs. 900
l) Isssued cheque in favour of M/s Kashiram & Sons on account of purchase of a machinery
of Rs. 7,500
m) Paid Rao & Co. Rs. 490 in full settlement of a debt of Rs. 500

[Total of Journal Rs. 24,950]

11. Prakash started his bussiness with the following assets & liabilities :
Enter the Transactions in the Journal of Prakash

1995 Jan Rs
1 Cash in Hand 20,000
Stock in Hand 25,000
Debtors : Kahanna Brothers 20,000
: Nirman & Co. 15,000
Creditors : Kripal Brothers 10,000
: Mitra Sen & Co. 5,000
His transactin for the month were :
2 Sold goods to Karmakar subject to a trade discount of 10% 10,000
4 Received from Nirman & Co. 14,500
8 Settled Mitra Sen & Co.'s account deducting 5% for cash discount
10 Purchased stationery articles 100
12 Paid rent for the month 250
13 Bought goods for S.K. & Co. 30,000
 16 Paid Kripal Brothers in full settlement of account 9,500
20 Withdrew cash for personal expenses 500
24 Issued a Credit Note to Mr. Karmakar for the goods damaged in transit 1,000
25 Returned goods to S.K. & Co. and received their Credit Note 5,000
29 Paid S.K. & Co. on account 10,000
Discount allowed 250
29 Cash Sales 20,000
31 Paid Salaries 1,500

Ans. [Total of the Journal Rs. 1,87,500]

12. Journalize the following transactions in the book of Ram Naresh :

1995 1-Oct Assets : Rs

i- Furniture 5,000
ii- Machinery 10,000
iii- Stock 4,000
iv- Cash in Hand 550
v- Cash at Bank 7,450
vi- Amount due from Ramesh 1,000
vii- Amount due from Suresh 2,000

Liabilities :
i- Amount due to Ram & Co. 4,500
ii- Amount due to Ranjeet & Co. 2,000
iii- Amount due to Shyam Sundar 1,500

1995 Oct Rs
1 Purchased goodsa from Ajay Kumar 4,500
3 Sold goods for cash 1,500
5 Paid to Himanshu by cheque 5,500
10 Deposited in bank 2,800
13 Sold goods on credit to Mukesh 1,700
15 Paid for postage 100
16 Received cash from Rakesh 2,200
Paid telephone charges 250
18 Cash Sales 1,500
20 Purchased Govt. Securities 5,000
22
Purchased good worth Rs. 16,000, less 20% trade discount & 5% cash discount from
Malhotra & Co. for cash and supplied them to Ramesh & Co. at list price less 10% trade
discount
25 Cash Purchases 16,500
27 Goods worth of Rs 500 damaged : A claim of it was made in the Railway authorities for
the same
28 Suresh is declared insolvent and a dividend of 50 paise in the rupee is received from him
in full settlement
29 Bought a Horse 2,600
Bought a carraige for delivering goods to customers 1,200
30 The horse bought on 29-Oct died ; and its carcase was sold for 100
31 Allowed interest on Capital @ 10% p.a. for one year
31 Paid for Salaries 1,500
Paid for Rent 600

Ans. [Total of Journal Rs. 1,11,950]

13. Journalize the following transactions in the book of Trader :

 1995 April Rs
Debit Balance :
i- Cash in Hand 16,000
ii- Cash at Bank 51,200
iii- Stock of Goods 40,000
iv- Furniture 8,000
v- Building 20,000

Debtors :
i- Vijay 5,400
ii- Anil 3,000
iii- Ashwini 4,000
iv- Anupam 3,600
v- Madhu 200

Creditors :
i- Anand 10,800
ii- Arya & Co. 15,400
iii- Balbant Rai 10,400
iv- Mrs. Loan 20,000

1995 April Rs
1 Purchased goods worth Rs. 10,000 less 20% trade discount and 5% cash discount
3 Rs. 5,292 received from Vijay and allowed him a discount of Rs. 100
5 Bought 100 shares in Bharat Ltd. @ Rs. 30 per share, brokerage paid Rs. 60
8 Goods worth Rs. 1000 were damaged in transit, a claim was made on Railway
authorities for the same
10 Cash Rs. 10,584 paid to Anand and discount allowed by Rs. 216
13 Received cash from Railway in settlement of claim for damage in transit
15 Anupam is declared insolvent and a dividend of 50paisse in the rupees is received from
him in full settlement
18 Sold 40 shares of Bharat Ltd. @ 36 per share; brokerage paid Rs. 30
20 Bought a Horse for 4,000
Bought a carraige for delivering goods to customers 2,000
22 Paid for Charity : 202
Paid for Postage 400
Paid for Stationery 398
30 One month interest on Mrs, Loan @ 12% became due but could not be paid
30 The Horse bought on January 20 died; its carcse sold for 100
30 Received from travelling salesman Rs. 6,000 for goods sold by him, after deducting his
travelling expenses Rs. 300
30 Paid for Salaries 7,000
Paid for rent 3,000
30 Sold goods worth Rs. 20,000 less 10% trade discount

Ans. [Total of the Journal Rs. 2,31,170]

14. Pass necessary entries to make the following adjustment at 31st Dec. 1996 :

a Depreciation at 5% on Office Furniture valued at Rs. 8,000, at 10% on Plant & Machinery
of Rs. 80,000 ; at 5% on Factory building of Rs. 2,00,000
b
The insurance premium has been paid for the year ending on 31st March next Rs. 2,400
c The telephone rent for one year was paid on last 30th APRIL Rs. 300
d
Interest on Captial at 6% p.a. is to be allowed. Capital in the beginning wa Rs. 3,00,000
 e The following outstanding liabilities for expenses are to be provided for viz. wages Rs.
300, salaries Rs. 305, trade expenses Rs. 215
f An unsold machinery appearing in the books at Rs. 5,000. The old machinery has been
valued at Rs. 800 for exchange purpose

15. Give journal entries for the following :

i- Goods worth Rs. 500 has been given as charity

ii- Received Rs. 975 from Harikrishna in full settlement of his account for Rs. 1,000
iii- Received the first and final dividend of 60 paise in rupee from the official receiver of Mr.
Rajan who owed us Rs. 1,000
iv- Sold to Sohan goods worth Rs. 20,000 by 2% cash discount and received Rs. 19,600 net
on account by cheque
v- Bought from Ram & Co. goods worth Rs. 10,000 at 10% trade discount and 2% cash
discount and paid them half the amount in cash
vi- Paid Rs. 1,000 in cash as wages on installation of machinery
vii- Supplied goods, costing Rs. 10,000 to Sohan invoiced at 30% above cost, less 5% trade
discount
viii- Goods worth RS. 5,000 were used by proprietor for his personal use
ix- Goods uninsured worth Rs. 10,000 was destroyed by fire

16. At the end of an accounting year, a trader finds that no entry has been passed in the books of accounts in respect of
the followng transactions. Journalise the transactions :
Rs
i- Outstanding salary at the end of the year 200
ii- Food given as charity in the year 300
iii- Stock-in-hand at the end of the year 20,000
iv- Charge depreciation on machinery @ 12% for one month (Machinery) 100,000
v- Received interest on loan from debtor 500
vi- Charge interest on Capital (Rs. 50,000) at 12% p.a. for six months
vii- Interest charged on drawing @ 5% when total drawings were 20,000
1. Journalize the following :

1996 Jan
3 Received cash from Ram
4 Purchased goods for cash
11 Sold goods to Hari
13 Paid Ramesh
17 Received from Hari
20 Bought furniture from Ram
27 Paid Rent
30 Paid Salary

Ans. [Total of Journal Rs. 26,980]

2. Transaction of Ramesh for April, 1996 is given below. Journalize them :

1996 April
1 Ramesh started business with cash
2 Paid into Bank
3 Bought goods for cash
4 Drew cash from Bank for Office
13 Sold to Krishna Goods on credit
20 Bought of Shyam Goods on credit
24 Received from Krishna
Allowed him Discount
28 Paid Shyam cash
Discount allowed
30 Cash sales for the month
Paid Rent
Paid Salary

Ans. [Total Journal Rs. 93,850]

3. Journalize the following transaction :

1996 Jan
1 Started bussiness with cash
2 Paid into Bank
3 Bought goods from M/s Singh & Co. on credit
4 Purchased furniture
Purchased adding machine & typewritter
(Payment in all cash made by cheque)
6 Paid for postage
8 Sold goods for cash
9 Sold goods on credit to M/s Sharda & Co.
15 Paid to M/s Singh & Co.
Discount allowed by them
25 Sold goods to M/s Ray & Co.
26 Received cheque from M/s Sharda & Co. in full
(settlement of amount due by them)
31 Paid for Electric charges
Paid salary
 Paid rent by cheque
Drew for Private use

Ans. [Total Journal Rs. 1,_9,515]

4. Journalize the following transaction in the book of trader :

1995 Dec
1 Started bussiness with cash
3 Goods purchased for cash
3 Furniture purchased for cash
7 Sold goods for cash
9 Sold goods to Naresh Kumar
12 Goods purchased from Vinod Kumar
16 Goods sold to Anil & Llowed him 10% trade discount
22 Cash received from Naresh Kumar
in full settlement of his account
25 Cash paid to Vinod Kumar & he allowed discount
28 Cash paid for purchase of stationery
31 Paid Office rent
31 Goods returned to Vinod Kumar
31 Paid salaries to Staff

Ans. [Journal Total Rs. 1,25,850]

5. Enter the following transactions in the Journal of Viswanath for the month of March 1995 :

1995 Mar
1 Viswanath commenced Bussiness with a capital of
2 Bought Machinery
3 Bought goods for cash from Madan Lal
3 Sold goods for cash to Giri
4 Purchased goods from Jai Sinha
6 Cash Sales
10 Received interest from Mukund
11 Depostied cash into Bank
14 Paid cash to Jai Sinha (in settlement of his account)
16 Sold goods to Venkatesh
18 Venkatesh settled his account by cheque & deposited with the Bank
20 Paid rent by cheque

Ans. [Jounal Total Rs. 69,000]

6. Journalize the following transaction in the book of Ravi :

1996 Jan
1 Started bussiness with cash
1 Paid into Bank
2 Goods purchased for cash
3 Purchase of furniture & payment by cheque
5 Sold goods for cash
8 Sold goods to Ramesh
10 Goods purchase from Ajay
 12 Goods returned to Ajay
15 Goods returned by Ramesh
18 Cash received from Ramesh
Discount allowed to him
21 Withdraw from Bank for Persoanl use
Withdraw from Bank for the use in bussiness
25 Paid Telephone rent for one year
28 Cash paid to Ajay (in full settlement of his account)
31 Paid for Stationery
Paid for rent
Paid salaries to Staff

Ans. [Journal Total Rs. 2,86,600]

7. Journalize the following transaction tn the book of Rama & Co. :

1996 Jan
1 Bussiness started with
Cash Deposite in the Bank
Goods purchased in cash
2 Furniture purchased for cash
Office Stationery purchased for cash
3 Goods purchased from X
5 Goods sold to Y
Paid rent
8 Paid for repairs
9 Paid for Advertisement
Cash paid to X
Discount received
10 Goods purchased from Z
Goods purchased from A in cash
15 Cash paid to Z (in full settlement of his account)
16 Cash received from Y (in full settlement of his account)
20 Goods sold to B
Goods purchased in cash
25 Cash withdraw from Bank
Cash paid to X
X allowed an discount of
28 Cash received from B
He was being allowed a discount of
31 Cash paid for electricity
Cash paid for salaries
Wages paid
Rent Paid

Ans. [Total Journal is Rs. 2,25,950]

8. Journalize the following transaction of M/s Hari & Sons :

1996 July
1 Bussiness started with cash
Cash deposited in Bank
2 Machine purchased from A in credit
 5 Furniture purchased from B for cash
10 Goods sold to Y
11 Goods returned by Y
12 Goods sold for cash
15 Purchase of good for cash
18 Cash received from Y
20 Cash paid to X
25 Cash withdrawn from Bank
28 Advertisement expenses
30 Office stationery purchased
31 Paid rent
31 Cash withdrawn from Bank for personal use of proprietor

Ans. [Total of the Journal 2,71,500]

9. Journalise the following :

i) Commenced bussiness with Cash Rs. 30,000

ii) Paid rent in Advance Rs. 500
iii) Purchased goods for cash Rs. 15,000
Purchased goods for credit Rs. 10,000
iv) Bought Motor Cycle for for personal use for Rs. 6,000 & the payment madeout of
bussiness money
v) Received Cash for a bad debt written off last year Rs. 100
vi) X, a debtor of the firm became insolvent. A first and final payment of 60paise was
received from his total dues of Rs. 200
vii) Goods were taken away by proprietor for his personal use worth Rs. 500
viii)
A cheque of Rs. 4,900 was received from Mohan against full and final settlement of Rs.
5,000 due from him. This cheque was deposited into bank of the same day. After five
days the bank intimates the dishonouring of Mohan's cheque

10. Journalize the following transactions :

a) Bought goods on credit for A Rs. 2,000

b) Goods returned by B Rs. 250
c) Paid carriage inward Rs. 50
d) Cheque of Rs. 700 received from C in settlement of a debt of Rs. 750 returned
dishonoured
e) Paid insurane premium of Rs. 150
f) Sale of Typewriter for Rds. 1,500
g) Rs. 1,250 owing by M written off as bad debt
h) Sold goods Rs. 1,250 to X on credit
i) Ram owes Rs. 2,850 pays Rs. 2,775 in full settlement
j)
M/s A & Co. who owes Rs 6,000 became solvent. Only 30% of the amount due is realised
k) Withdrew for domestic use Rs. 900
l) Isssued cheque in favour of M/s Kashiram & Sons on account of purchase of a machinery
of Rs. 7,500
m) Paid Rao & Co. Rs. 490 in full settlement of a debt of Rs. 500

[Total of Journal Rs. 24,950]

11. Prakash started his bussiness with the following assets & liabilities :
 Enter the Transactions in the Journal of Prakash

1995 Jan
1 Cash in Hand
Stock in Hand
Debtors : Kahanna Brothers
: Nirman & Co.
Creditors : Kripal Brothers
: Mitra Sen & Co.
His transactin for the month were :
2 Sold goods to Karmakar subject to a trade discount of 10%
4 Received from Nirman & Co.
8 Settled Mitra Sen & Co.'s account deducting 5% for cash discount
10 Purchased stationery articles
12 Paid rent for the month
13 Bought goods for S.K. & Co.
16 Paid Kripal Brothers in full settlement of account
20 Withdrew cash for personal expenses
24 Issued a Credit Note to Mr. Karmakar for the goods damaged in transit
25 Returned goods to S.K. & Co. and received their Credit Note
29 Paid S.K. & Co. on account
Discount allowed
29 Cash Sales
31 Paid Salaries

Ans. [Total of the Journal Rs. 1,87,500]

12. Journalize the following transactions in the book of Ram Naresh :

1995 1-Oct Assets :

i- Furniture
ii- Machinery
iii- Stock
iv- Cash in Hand
v- Cash at Bank
vi- Amount due from Ramesh
vii- Amount due from Suresh

Liabilities :
i- Amount due to Ram & Co.
ii- Amount due to Ranjeet & Co.
iii- Amount due to Shyam Sundar

1995 Oct
1 Purchased goodsa from Ajay Kumar
3 Sold goods for cash
5 Paid to Himanshu by cheque
10 Deposited in bank
13 Sold goods on credit to Mukesh
15 Paid for postage
16 Received cash from Rakesh
Paid telephone charges
18 Cash Sales
 20 Purchased Govt. Securities
22
Purchased good worth Rs. 16,000, less 20% trade discount & 5% cash discount from
Malhotra & Co. for cash and supplied them to Ramesh & Co. at list price less 10% trade
discount
25 Cash Purchases
27 Goods worth of Rs 500 damaged : A claim of it was made in the Railway authorities for
the same
28 Suresh is declared insolvent and a dividend of 50 paise in the rupee is received from him
in full settlement
29 Bought a Horse
Bought a carraige for delivering goods to customers
30 The horse bought on 29-Oct died ; and its carcase was sold for
31 Allowed interest on Capital @ 10% p.a. for one year
31 Paid for Salaries
Paid for Rent

Ans. [Total of Journal Rs. 1,11,950]

13. Journalize the following transactions in the book of Trader :

1995 April
Debit Balance :
i- Cash in Hand
ii- Cash at Bank
iii- Stock of Goods
iv- Furniture
v- Building

Debtors :
i- Vijay
ii- Anil
iii- Ashwini
iv- Anupam
v- Madhu

Creditors :
i- Anand
ii- Arya & Co.
iii- Balbant Rai
iv- Mrs. Loan

1995 April
1 Purchased goods worth Rs. 10,000 less 20% trade discount and 5% cash discount
3 Rs. 5,292 received from Vijay and allowed him a discount of Rs. 100
5 Bought 100 shares in Bharat Ltd. @ Rs. 30 per share, brokerage paid Rs. 60
8 Goods worth Rs. 1000 were damaged in transit, a claim was made on Railway
authorities for the same
10 Cash Rs. 10,584 paid to Anand and discount allowed by Rs. 216
13 Received cash from Railway in settlement of claim for damage in transit
15 Anupam is declared insolvent and a dividend of 50paisse in the rupees is received from
him in full settlement
18 Sold 40 shares of Bharat Ltd. @ 36 per share; brokerage paid Rs. 30
20 Bought a Horse for
 Bought a carraige for delivering goods to customers
22 Paid for Charity :
Paid for Postage
Paid for Stationery
30 One month interest on Mrs, Loan @ 12% became due but could not be paid
30 The Horse bought on January 20 died; its carcse sold for
30 Received from travelling salesman Rs. 6,000 for goods sold by him, after deducting his
travelling expenses Rs. 300
30 Paid for Salaries
Paid for rent
30 Sold goods worth Rs. 20,000 less 10% trade discount

Ans. [Total of the Journal Rs. 2,31,170]

14. Pass necessary entries to make the following adjustment at 31st Dec. 1996 :

a Depreciation at 5% on Office Furniture valued at Rs. 8,000, at 10% on Plant & Machinery
of Rs. 80,000 ; at 5% on Factory building of Rs. 2,00,000
b
The insurance premium has been paid for the year ending on 31st March next Rs. 2,400
c The telephone rent for one year was paid on last 30th APRIL Rs. 300
d
Interest on Captial at 6% p.a. is to be allowed. Capital in the beginning wa Rs. 3,00,000
e The following outstanding liabilities for expenses are to be provided for viz. wages Rs.
300, salaries Rs. 305, trade expenses Rs. 215
f An unsold machinery appearing in the books at Rs. 5,000. The old machinery has been
valued at Rs. 800 for exchange purpose

15. Give journal entries for the following :

i- Goods worth Rs. 500 has been given as charity

ii- Received Rs. 975 from Harikrishna in full settlement of his account for Rs. 1,000
iii- Received the first and final dividend of 60 paise in rupee from the official receiver of Mr.
Rajan who owed us Rs. 1,000
iv- Sold to Sohan goods worth Rs. 20,000 by 2% cash discount and received Rs. 19,600 net
on account by cheque
v- Bought from Ram & Co. goods worth Rs. 10,000 at 10% trade discount and 2% cash
discount and paid them half the amount in cash
vi- Paid Rs. 1,000 in cash as wages on installation of machinery
vii- Supplied goods, costing Rs. 10,000 to Sohan invoiced at 30% above cost, less 5% trade
discount
viii- Goods worth RS. 5,000 were used by proprietor for his personal use
ix- Goods uninsured worth Rs. 10,000 was destroyed by fire

16. At the end of an accounting year, a trader finds that no entry has been passed in the books of accounts in respect of
the followng transactions. Journalise the transactions :

i- Outstanding salary at the end of the year

ii- Food given as charity in the year
iii- Stock-in-hand at the end of the year
iv- Charge depreciation on machinery @ 12% for one month (Machinery)
v- Received interest on loan from debtor
vi- Charge interest on Capital (Rs. 50,000) at 12% p.a. for six months
vii- Interest charged on drawing @ 5% when total drawings were
 Rs
15,000
2,500
3,200
1,400
1,110
2,200
480
1,100

Rs
40,000
28,000
2,500
1,100
2,150
4,225
2,100
50
4,000
225
8,000
500
1,000

Rs
50,000
36,000
22,000
4,200

8,400
215
5,400
4,600
21,000
1,000
5,000

4,560
100
1,500
 2,000
3,500

Rs
50,000
30,000
5,000
10,000
8,000
5,000
6,000

7,600
4,200
250
800
500
900

Rs
30,000
5,000
2,500
4,000
3,000
5,000
2,000
6,000
2,900
4,000
3,890
500

Rs
100,000
50,000
30,000
10,000
20,000
10,000
15,000
 1,000
500
9,300
200
2,000
12,000
1,200
13,700
4,400
2,000
5,000

Rs
50,000
20,000
10,000
3,000
2,000
20,000
25,000
1,000
800
1,500
10,000
50
9,000
6,000
8,800
24,500
6,000
9,000
5,000
4,000
100
3,000
200
400
1,000
500
400

Rs
10,000
60,000
20,000
10,000
9,000
1,000
20,000
10,000
4,000
8,000
20,000
5,000
2,000
1,000
2,500
 Rs
20,000
25,000
20,000
15,000
10,000
5,000

10,000
14,500

100
250
30,000
9,500
500
1,000
5,000
10,000
250
20,000
1,500

Rs
5,000
10,000
4,000
550
7,450
1,000
2,000

4,500
2,000
1,500

Rs
4,500
1,500
5,500
2,800
1,700
100
2,200
250
1,500
 5,000

16,500

2,600
1,200
100

1,500
600

Rs

16,000
51,200
40,000
8,000
20,000

5,400
3,000
4,000
3,600
200

10,800
15,400
10,400
20,000

Rs

4,000
 2,000
202
400
398

100

7,000
3,000

s of accounts in respect of

Rs
200
300
20,000
100,000
500
20,000