TEST – 6

JOURNAL

Marks: 35

Q 1) Journalize the following in the books of Amit:

2020 June

1. Amit started business with cash $ 20,000, machinery $ 10,000 and furniture $
20,000.
2. Paid rent of premises $ 40 by cheque.
3. Paid rent of premises $ 50 to Smita by cheque.
4. Paid insurance $ 200 by cheque.
5. Machinery costing $ 20,000 was purchased and installation charges paid $
2,000 by cheque.
6. A short-term loan was received from Priyanka foe $ 8000.
7. Paid motor expenses $ 100 by cheque.
8. Part of the premises were rented out to another business and a cheque of $
100 was received.
9. Amit withdraws cash for personal use $ 100.
10. Amit withdraws goods for personal use $ 500.
11. Amit withdraws machinery for personal use $ 500.
12. Amit withdrew $ 200 by cheque for personal use.
13. Cheque paid to Rita on behalf of Reema of $ 600.
14. Cheque received from Rahul on behalf of Ronak of $ 500.
15. Carriage paid on behalf of Kavita $ 80.
16. Mahima paid carriage on our behalf for $ 120.
17. Second hand machinery bought for $ 1800. Repairs of $ 20 paid by cheque.

Q 2) journalise the following transactions in the books of Smita:

1. Smita started business with cash $ 16,000, Fixtures $ 3,000 and Machinery $
1,000.
2. Goods purchased from Raveena worth $ 10,000 @ 10% Trade Discount and
2% Cash Discount.
3. Goods sold to Amisha worth $ 15,000 @ 10 % Trade Discount and 2% Cash
Discount.
4. Paid the amount due to Raveena.
5. Received the amount due from Amisha.
6. Goods purchased from Bipasha on cash basis worth $ 5,000 @ 20% trade
discount and 10% cash discount. Half the amount is paid in cash and the
remaining by cheque.
7. Sold goods to Ritu on cash basis worth $ 15,000 @ 10% trade discount and
2% cash discount. Half the amount is received in cash and the remaining by
cheque.
8. Goods purchased from Pooja worth $ 16,000. Half of the goods were
purchased on cash basis while remaining were on credit basis @ 10% trade
discount and 2% cash discount.
9. Goods sold to Samika worth $ 20,000. 1/3rd of the money was received in
cash and 1/3rd by cheque @ 10% trade discount and 2% cash discount.

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