Journal entries in the books of Amith for the year ending 31st March, 2020
DATE PARTICULARS L.F.No DEBIT(Rs.) CREDIT(Rs.)
2020 Cash A/c Dr 50,000
Jan 1 To Amith’s Capital A/c 50,000
(being business commenced with
cash)
Jan 2 Cash A/c Dr 19,000
To Sales A/c 19,000
(being goods sold for cash)
Jan 5 Machinery A/c Dr 6,000
To Cash A/c 6,000
(being machinery bought for cash)
Jan 7 Cash A/c Dr 17,000
To Sales A/c 17,000
(being sold goods for cash)
Jan 9 Rent A/c Dr 4,000
To Cash A/c 4,000
(being rent paid through cash)
Jan 10 Cash A/c Dr 3,000
To Commission Received A/c 3,000
(being commission received)
Jan 12 Ankith’s A/c Dr 7,500
To Cash A/c 7,500
(being cash paid to Ankith)
Jan 14 Bank A/c Dr 10,000
To Cash A/c 10,000
(being cash deposited with bank)
Jan 15 Furniture A/c Dr 5,000
To Cash A/c 5,000
(being furniture purchased for cash)
Jan 16 Stationary A/c Dr 1,250
To Cash A/c 1,250
(being stationary bought for cash)
PROBLEM-2
Journalize the following entries in the books of Kranthi.
2019, Sept. 1 Kranthi started business with a cash of Rs. 75,000
Sept 2 Paid into bank Rs. 8,000
Sept 5 Purchased goods for cash Rs. 26,000
Sept 7 bought goods from Sharan Rs.10, 000
Sept 13 Furniture purchased and paid by cheque Rs. 7,000
Sept 16 Return goods to Sharan Rs. 2,000
Sept 19 Sold goods to Aravind Rs. 13,000
Sept 22 Paid salaries and rent Rs.3,000 , Rs. 4,500
Sept 23 Received goods returned by Aravind Rs. 750
Sept 24 Received cash from Aravind in full settlement of his account Rs. 12,200
Sept 27 withdrawn cash for personal use Rs.3,000
Sept 29 telephone expenses Rs.1, 550
Sept 30 Cash sales Rs.15, 000
Pass journal entries for the following transactions in the books of Diwakar, 2020
March 7 Cash sales Rs.17, 000
March 8 Purchases Rs. 6,000
March 9 Sold goods to Raju Rs. 7,000
March 12 Cash paid to Mukund and discount received Rs.450 Rs.8, 550
March 16 Purchased furniture Rs.5, 000
March 19 Received cash from Deepak Rs.12, 000
March 21 commission received Rs.3, 000
March 22 Raju returned goods Rs.1, 500
March 24 cash paid to Kumar Rs. 5,700
March 25 Computer purchased and paid by cheque Rs.30,000
March27 Cash sales Rs.22,000
March 29 Cash paid to Bank Rs. 7,300
JOURNAL ENTRIES IN THE BOOKS OF KRANTHI AS ON 31ST MARCH, 2019
DATE PARTICULARS L.F.No DEBIT(Rs.) CREDIT(Rs.)
2019 Cash A/c Dr 75,000
Sept1 To Kranthi’s Capital A/c 75,000
(being business commenced with
cash)
Sept 2 Bank A/c Dr 8,000
To Cash A/c 8,000
(being cash deposited in bank)
Sept5 Purchases A/c Dr 26,000
To Cash A/c 26,000
(being goods bought for cash)
Sept7 Purchases A/c Dr 17,000
To Sharan,s A/c 17,000
(being goods bought from Sharan)
Sept13 Furniture A/c Dr 7,000
To Bank A/c 7,000
(being rent furniture purchased)
Sept16 Sharan’s A/c Dr 8,000
To Purchases Returns A/c 8,000
(being goods returned to Sharan)
Sept19 Aravind’s A/c Dr 26,000
To Sales A/c 26,000
(being goods sold to Aravind)
Sept22 Salaries A/c Dr 3,000
Rent A/c Dr 4,500
To Cash A/c 7,500
(being salaries and rent paid)
Sept23 Sales Returns A/c Dr 1,750
To Aravind’s A/c 1,750
(being furniture purchased for cash)
Sept24 Cash A/c Dr 12,200
Discount Allowed A/c Dr 50
To Aravind’s A/c 12,250
(being cash received in full
settlement of Aravind’s A/c)
Sept27 Drawings A/c Dr 3,000
To Cash A/c 3,000
(being cash withdrawn from business)
Sept29 Telephone Charges A/c Dr 1,550
To Cash A/c 1,550
(being telephone charges paid)
Sept30 Cash A/c Dr 15,000
To Sales A/c 15,000
(being goods sold for cash)
CASH A/C
Dr Cr
Dt Particulars l.f. Amt Dt Particulars l.f. Amt
no (Rs) no (Rs)
2009 To Kranthi’s 75,000 2009 By Bank A/c 8,000
Sep,1 Capital A/c Sep,2
24 To Aravind’s A/c 12,250 5 By Purchases a/c 26,000
30 To Sales A/c 15,000 22 By Salaries A/c 3,000
22 By Rent A/c 4,500
27 By Drawings A/c 3,000
29 By Telephone 1,550
expenses A/c
Sep 30 Sep 30 By Balance c/d 56,200
1,02,250 1,02,250
Oct 1 To Balance b/d 56,200
Drawings A/c Dr 3,000
To Cash A/c 3,000
( being cash withdrawn from business)
Dr Cash A/c Cr
Dt Particulars j.f. Amt Dt Particulars j.f. Amt
no (Rs) no (Rs)
2019 To Kranthi’s A/c - 75,000 2019 By Bank A/c - 8,000
Sept,1 Sept,2
5 By Purchases A/c - 26,000
Cash A/c
Dr Cr
Dt Particulars j.f. Amt.(Rs) Dt Particulars j.f. Amt. (Rs)
no no
2019 To Kranthi’s capital A/c - 75,000 2019 By Bank A/c - 8,000
Sept,1 Sept,2
24 To Aravind’s A/c - 12,200 5 By purchases A/c - 26,000
30 To Sales A/c - 15,000 22 By Salaries A/c - 3,000
22 By Rent A/c - 4,500
27 By Drawings A/c - 3,000
29 By Telephone - 1,550
charges A/c
30 By Balance c/d 56,150
1,02,200 1,02,200
Oct ,1 To Balance c/d 56,150
Purchases A/c
Dr Cr
Dt Particulars j.f. Amt.(Rs) Dt Particulars j.f. Amt. (Rs)
no no
2019 To Cash A/c 26,000
Sept,5
7 To Sharan’s A/c 17,000
30 By Balance c/d 43,000
43,000 43,000
Oct ,1 To Balance b/d 43,000
