Question:

Create journal entries for the following transactions (Rs. currency):

1. Harish started business with cash Rs. 10000

2. Bought goods from Manohar Rs. 5000
3. Purchase fittings for cash Rs. 800
4. Sold goods to Charanjeet Rs. 1600
5. Paid Manohar Rs. 3000
6. Sold goods Vadva Ram Rs. 2000
7. Received from Charanjeet Rs. 1540 and allowed him discount Rs. 60
8. Paid wages Rs. 80
9. Bought goods for cash Rs. 600
10. Sold goods to Ramesh Rs. 3400
11. Purchase goods from Purchotam Ra. 2600
12. Paid Manohar in settlement Rs. 1900 and discount allowed by him Rs. 100
13. Paid carriage from goods and sold Rs. 40
14. Paid wages Rs. 80
15. Bought goods Manohar Rs. 3000
16. Bought goods for cash Rs. 800
17. Sold goods Vadva Ram Rs. 3600
18. Vadva Ram paid on account Rs. 4000
19. Purchase goods from Harbans Rs. 1500
20. Sold goods for cash Rs. 1600
21. Paid wages Rs. 80
22. Paid to Harbans Rs. 1440 and discount allowed by him Rs. 60
23. Sold goods to Charanjeet Rs. 2600
24. Bought goods for Manohar Rs. 1400
25. Bought goods for cash Rs. 1460
26. Paid on account to Manohar Rs. 1460
27. Received from Charanjeet Rs. 4000
28. Paid wages Rs. 80
29. Paid for electric lighting Rs. 100
30. Paid rent Rs. 160
31. Harish drew for personal use Rs. 300
32. Purchases Rs. 80
33. General expense Rs. 190
34. Carriage outwards Rs. 60
Q: Mr Robert commenced business on 1st January, 2011 with a capital of $100,000 in
cash. On the same date he opened the bank account in ADCB and deposited $20,000.
During the month of January 2011 the following transactions took place:

Jan 1 Bought goods for cash 70,000

2 Sold goods to Steve Co. (Credit) 38,000

15 Sold goods for cash 9,000

21 Steve Co. paid by cheque 35,000

22 Stationery bill paid by cheque 2,000

22 Telephone bill by cash 500

31 Paid rent by cash 2,000

Paid salaries by cash 3,000

Withdrew cash personal use 5,000

Required:
Record journal entries for the transactions and post them to ledgers.

Mr. Nirmal has the following transactions in the month of April.

Write Journal Entries for the transactions.

10th April : Commenced business with a capital of 1,00,000

11th April : Purchased goods from Veeru for 20,000
13th April : Purchased Goods for Cash 15,000
14th April : Purchased Goods from Abhiram for cash 9,000
16th April : Bought Goods from Shyam on credit 12,000
17th April : Sold goods worth 15,000 to Tarun
19th April : Sold goods for cash 20,000
20th April : Sold goods to Utsav for cash 6,000
21st April : Sold goods to Pranav on credit 17,000
22nd April : Returned goods to Veeru 3,000
23rd April : Goods returned from Tarun 1,000
25th April : Goods taken by the proprietor for personal use 1,000
26th April : Bought Land for 50,000
27th April : Purchased machinery for cash 45,000
28th April : Bought computer from Intel Computers for 25,000
28th April : Cash sales 15,000
29th April : Cash purchases 22,000
30th April : Bought furniture for proprietor's residence and paid cash 10,000
Journalise the following transactions in the books of Rama & Sons

3rd May : Cash deposited into bank 60,000

4th May : Loan given to Bhuvan 20,000
4th May : Paid cash to Veeru 20,000
5th May : Paid to Veeru by cheque 15,000
5th May : Cash received from Tarun 12,000
5th May : Took loan from Anush 15,000
6th May : Cheque received from Pranav 15,000
6th May : Paid to Intel Computers by cheque 17,000
6th May : Withdrew from bank 5,000
7th May : Withdrew from bank for office use 8,000
7th May : Cash received from Bhuvan on loan account
10,000
8th May : Withdrew from bank for personal use 1,000
8th May : Cash taken by proprietor for personal use 3,000
9th May : Bought furniture and paid by cheque 15,000
9th May : Paid to Anush by cheque on loan account 5,000
9th May : Brought additional capital of 25,000
Write journal entries in the books of Chikky & Bros.

10th June : Paid wages 12,000

11th June : paid rent by cheque 10,000
13th June : Paid salary to Mr. Charan 12,000
14th June : Purchased stationery from Kagaz & Co. and paid by cheque 5,000
15th June : Received interest 14,000
17th June : Received commission by cheque 6,000
18th June : Rent received from Mr. Mody 8,000
19th June : Interest received from Mr.Bijju by cheque 10,000
20th June : Carriage paid on purchase of goods 3,000
22nd June : Carriage paid on sale of goods 2,000

Loss Company is into the business of Trading of Cars. To Ensure its

Employees are happy, they incur many staff welfare expenses like Food,
Snacks, Team dinners/lunch etc. So, this month entity spent around $50,000
on staff welfare expenses. However, the entity paid only $40,000 due to the
non-availability of Cash. The balance expenses are outstanding to ABC
Bakery.

Record the Journal entry

On April 01, 2016 Anees started business with Rs. 100,000 and other
transactions for the month are:
2. Purchase Furniture for Cash Rs. 7,000.
8. Purchase Goods for Cash Rs. 2,000 and for Credit Rs. 1,000 from Khalid
Retail Store.
14. Sold Goods to Khan Brothers Rs. 12,000 and Cash Sales Rs. 5,000.
18. Owner withdrew of worth Rs. 2,000 for personal use.
22. Paid Khalid Retail Store Rs. 500.
26. Received Rs. 10,000 from Khan Brothers.
30. Paid Salaries Expense Rs. 2,000

Prepare general journal entries for the following transactions of a business

called Pose for Pics in 2016:
Aug. 1: Hashim Khan, the owner, invested Rs. 57,500 cash and Rs. 32,500 of
photography equipment in the business.
04: Paid Rs. 3,000 cash for an insurance policy covering the next 24 months.
07: Services are performed and clients are billed for Rs. 10,000.
13: Purchased office supplies for Rs. 1,400. Cash paid Rs. 400 and
remaining outstanding.
20: Received Rs. 2,000 cash in photography fees earned previously.
24: The client immediately pays Rs. 15,000 for services to be performed
at a later date.
29: In addition, the business acquires photography equipment. The purchase
price is Rs. 100,000, pays Rs. 25,000 cash and signs a note for the balance.

On March 2017, Farhan Rahim, starts wholesaling business. Following

transactions as follows:
1. He started business with capital of Rs. 15,000 and Land worth Rs. 10,000.
8. Bought goods from Bilal and Friends Rs. 1,000 and by cash from XYZ Co. Rs
2,000.

13. However, sold goods to Rehman & sons Rs. 1,500 and sale by cash Rs.
5,000.
17. Gave away charity of cash Rs. 50 and merchandising worth Rs. 30.
21. Paid Bilal and Friends cash Rs. 975; discount received Rs. 25.
28. Received cash from Rehman & Sons Rs. 1,450; allowed him discount of Rs.
50.
Shah Sauood Marine is a boat repair yard. During August 2016, its transactions
included the following:
03. Loan taken from Habib Bank Ltd. of Rs. 25,000. Rs. 20,000 withdrawn for
business and remaining in the bank a/c.
06. Paid rent for the month of August Rs. 4,400 and accrued rent expenses was
Rs. 600.

12. At request of Kiwi Insurance, Inc, made repairs on boat of Jon Seaways.
Sent bill for Rs. 5,620 for services rendered to Kiwi Insurance Inc. (credit
Repair Service Revenue).
18. Made repairs to boat of Dennis Copper and collected in full the charge of Rs.
2,830.
20. After that, placed Advertisement in The Dawn of Rs. 165, payment to be
made within 30 days.
25. Received a check for 5,620 from Kiwi Insurance Inc representing collection
of the receivable of August 12.
30. Sent check to The Dawn in payment of the liability incurred on August 20.

1st January, 2017, Saeed Ahmad started business other transactions for the
month of June as follows:
02. Purchased from Kareem goods of list price of Rs. 6,000 subject to 10% trade
discount by cash.
04. Sold goods to Din Muhammad Rs. 800 and cash sales of Rs. 200.
10. Distributed goods worth Rs. 200 as free samples and goods taken away by
the proprietor for personal use Rs. 100.
12. Received discount Rs 20 and Commission Rs 500.
17. Goods returned by Din Muhammad Rs. 200 and payment other outstanding
amount.
24. Furniture lost by fire of worth Rs. 500.
30. Bad Debts during the period was Rs.100.
Following transactions are related to Saifullah Naseem business. You are
required to pass Journal Entries.

June 1, 2016. Mr. Saifullah started business with Cash Rs. 10,000 and Furniture
Rs. 2,000.
June 5. Purchased merchandise/goods on credit Rs. 5,000 from Ali Store.

June 7. Sold goods/ merchandise on credit Rs. 6,000 to Ahmed Brothers.

June 15. Payment of creditors in full settlement of account Rs. 4,900 of June
5th transaction.

June 20. Received from debtors in full settlement of account Rs. 5,800 of June
7th transaction.

June 25. Rs. 500 was privately used by Saifullah.

June 27. Purchase furniture of worth Rs. 60,000, having 10% trade discount.

June 28. Paid Salaries Rs. 1,500.

Case # 1 Goods Lost by Fire of Rs. 400.

Case # 2 Goods Lost by Theft of Rs. 500.

Case # 3 Goods distributed as Charity of Rs. 600.

Case # 4 Goods distributed as Free Sample of Rs. 700.

Case # 5 Goods withdrawal by Owner of Rs. 800.

Enter the following transaction in the Journal of Marutinandan Stores:

2017
Jan. 10 Purchased goods from Ghanshyam of the list price of Rs. 50,000 at 15%
 trade discount.
13 Returned goods to Ghanshyam of the list price of Rs. 2,000.
15 Paid cash to Ghanshyam Rs. 40,000 in full settlement of his account.
Purchased goods from Raghu of the list price of Rs. 60,000 at 10% trade
20
discount.
22 Returned goods to Raghu of the list price of Rs. 5,000.
25 Paid cash to Raghu Rs. 49,000 in full settlement of his account.

Pass Journal Entries for the following transactions:

2017
Sold goods to Muskan of the list price of Rs. 2,00,000 at
Jan 6
trade discount of 20%.
8 Muskan returned goods of the list price of Rs. 5,000.
Received from Muskan the full payment under a cash
15
discount of 4%.

Give Journal Entries for the following transactions in the books of Raja Ram & Co. :
2017
March Bought goods for cash of the list price of Rs. 80,000 at 10% trade
3 discount and 21212% cash discount.
Sold goods for cash of the list price of Rs. 1,00,000 at 15% trade
5
discount and 3% cash discount.
Sold goods to Nagpal of the list price of Rs. 50,000 at 20% trade
6
discount.
8 Nagpal returned one-fourth of the above goods.
10 Nagpal settled the account by paying cash under a discount of 5%.

Pass Journal entries in the books of Raghunath Bros. from the following transactions:-
2016
Raghunath Bros. started business with cash Rs. 80,000; Goods Rs. 40,000
June 01
and furniture Rs. 20,000.
June 02 Sold goods to Nandlal of the list price of Rs. 20,000 at trade discount of 10%.
 June 04 Nandlal returned goods of the list price of Rs. 4,000.
June 08 Received from Nandlal Rs. 14,150 in full settlement of his account.
Purchased goods from Brij Mohan of the list price of Rs. 10,000 at 15% trade
June 10
discount.
June 13 Returned goods to Brij Mohan of the list price of Rs. 1,000.
June 16 Settled the account of Brij Mohan by paying cash, under a discount of 4%.
June 18 Purchased goods from Anil Rs. 5,000; Sunil Rs. 10,000.
June 19 Paid cash to Anil Rs. 1,900 and discount received Rs. 100.
June 20 Paid Rs. 9,800 to Sunil in full settlement of his account.
June 20 Bought a 'Table Fan' for Rs. 8,000 for the domestic use of Raghunath.
Sold goods for cash of the list price of Rs. 8,000 at 10% trade discount and
June 25
3% cash discount.
Paid Rent Rs. 8,000; Trade Expenses Rs. 7,000 and Travelling Expenses Rs.
June 30
3,800.

Ques.1) Record the following

business transactions:
Date Transaction Detail
2-4-2020 Paid Rs 500 to
Challenger Systems
2-4-2020 Bought Office Supplies
for Rs 150 with Petty cash
2-4-2020 Wages of Rs 600 paid to
employees by cheque
5-4-2020 Banked a cheque for Rs
5000 received from Data Link
Technologies
6-4-2020 Sold 1 IBM Pentium
4(Computer sales) to Spectrum
Computers for Rs 24785
6-4-2020 Withdrew Rs 200 from
Bank account for petty cash
7-4-2020 Bought 1 LaserJet
1500(Printer purchase) from Silver
Plus computers on credit for Rs
8100
Ques.1) Record the following
business transactions:
Date Transaction Detail
2-4-2020 Paid Rs 500 to
Challenger Systems
2-4-2020 Bought Office Supplies
for Rs 150 with Petty cash
2-4-2020 Wages of Rs 600 paid to
employees by cheque
5-4-2020 Banked a cheque for Rs
5000 received from Data Link
Technologies
6-4-2020 Sold 1 IBM Pentium
4(Computer sales) to Spectrum
Computers for Rs 24785
6-4-2020 Withdrew Rs 200 from
Bank account for petty cash
7-4-2020 Bought 1 LaserJet
1500(Printer purchase) from Silver
Plus computers on credit for Rs
8100
Ques.1) Record the following
business transactions:
Date Transaction Detail
2-4-2020 Paid Rs 500 to
Challenger Systems
2-4-2020 Bought Office Supplies
for Rs 150 with Petty cash
2-4-2020 Wages of Rs 600 paid to
employees by cheque
5-4-2020 Banked a cheque for Rs
5000 received from Data Link
Technologies
6-4-2020 Sold 1 IBM Pentium
4(Computer sales) to Spectrum
Computers for Rs 24785
6-4-2020 Withdrew Rs 200 from
Bank account for petty cash
7-4-2020 Bought 1 LaserJet
1500(Printer purchase) from Silver
Plus computers on credit for Rs
8100