JOURNAL ENTRIES FROM TRANSACTIONS

Problems & Solutions 

01.

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

Write Journal Entries for the transactions. 

10th April : 11th April : 13th April : 14th April : 16th April : 17th April : 19th April : 20th April : 21st April : 22nd April : 23rd April : 25th April : 26th April : 27th April : 28th April : 28th April : 29th April : 30th April :

Commenced business with a capital of Rs. 1,00,000  Purchased goods from Veeru for Rs. 20,000 Purchased Goods for Cash Rs. 15,000 Purchased Goods from Abhiram for cash Rs. 9,000 Bought Goods from Shyam on credit Rs. 12,000 Sold goods worth Rs. 15,000 to Tarun Sold goods for cash Rs. 20,000 Sold goods to Utsav for cash Rs. 6,000 Sold goods to Pranav on credit Rs. 17,000 Returned goods to Veeru Rs.3,000 Goods returned from Tarun Rs. 1,000 Goods taken by the proprietor for personal use Rs. 1,000 Bought Land for Rs. 50,000 Purchased machinery for cash Rs. 45,000 Bought computer from Intel Computers for Rs. 25,000 Cash sales Rs. 15,000 Cash purchases Rs. 22,000 Bought furniture for proprietor's residence and paid cash Rs. 10,000

Journal in the books of M/s _____ for the period from ____ to _____ Date V/R No. Particulars L/F Debit Amount (in Rs) Credit Amount (in Rs) April 10th – Cash a/c       To Capital a/c [Being the amount received from Mr. Nirmal, the proprietor as his capital contribution vide receipt no:__ dated:__ ] Dr – – 1,00,000 1,00,000 11th – Goods/Stock a/c       To Veeru a/c [Being the value of stock purchased from Mr. Veeru vide bill no:___ dated:__ ] Dr – – 20,000 20,000 13th – Goods/Stock a/c       To Cash a/c [Being the value of stock purchased from M/s ___ vide bill no:___ dated:__ ] Dr – – 15,000 15,000 14th – Goods/Stock a/c       To Cash a/c [Being the the value of stock purchased from Mr. Abhiram for cash vide bill no:___ dated:__ ] Dr – – 9,000 9,000 16th – Goods/Stock a/c       To Shyam a/c [Being the value of stock purchased from Mr. Shyam vide bill no:___ dated:__ ] Dr – – 12,000 12,000 17th – Tarun a/c       To Goods/Stock a/c [Being the value of stock sold on credit to Mr. Tarun vide bill no:___ dated:__ ] Dr – – 15,000 15,000 19th – Cash a/c       To Goods/Stock a/c [Being the value of stock sold to M/s ___vide bill no:___ dated:__ ] Dr – – 20,000 20,000 20th – Cash a/c       To Goods/Stock a/c [Being the value of stock sold to Mr. Utsav for cash vide bill no:___ dated:__ ]   Dr – – 6,000 6,000 21st – Pranav a/c       To Goods/Stock a/c [Being the value of stock sold to Mr. Pranav on credit vide bill no:___ dated:__ ] Dr – – 17,000 17,000 22nd – Veeru a/c       To Goods/Stock a/c [Being the value of stock returned to Mr. Veeru vide bill no:___ dated:__ ] Dr – – 3,000 3,000 23rd – Goods/Stock a/c       To Tarun a/c [Being the value of stock returned from Mr. Tarun vide bill no:___ dated:__ ] Dr – – 1,000 1,000 25th – Drawings a/c       To Goods/Stock a/c [Being the value of stock taken by the proprietor vide bill no:___ dated:__ ] Dr – – 1,000 1,000 26th – Land a/c       To Cash a/c [Being the amount paid for land purchsed vide bill no:___ dated:__ ] Dr – – 50,000 50,000 27th – Machinery a/c       To Cash a/c [Being the amount paid for machinery purchsed vide bill no:___ dated:__ ] Dr – – 45,000 45,000 28th – Computers a/c       To Intel Computers a/c [Being the amount of computer purchased from M/S Intel Computers on credit vide bill no:___ dated:__ ] Dr – – 25,000 25,000 29th – Cash a/c       To To Goods/Stock a/c [Being the value of stock sold for cash vide bill no:___ dated:__ ] Dr – – 15,000 15,000 29th – Goods/Stock a/c       To Cash a/c [Being the value of stock purchased for cash vide bill no:___ dated:__ ] Dr – – 22,000 22,000 30th – Drawings a/c       To Cash a/c [Being the amount of cash paid for furniture purchased for proprietor's residence vide bill no:___ dated:__ ] Dr – – 1,000 1,000

02.

Journalise the following transactions in the books of Rama & Sons

3rd May : 4th May : 4th May : 5th May : 5th May : 5th May : 6th May : 6th May : 6th May : 7th May : 7th May : 8th May :   8th May : 9th May : 9th May : 9th May :

Cash deposited into bank Rs. 60,000 Loan given to Bhuvan Rs. 20,000 Paid cash to Veeru Rs. 20,000 Paid to Veeru by cheque Rs. 15,000 Cash received from Tarun Rs. 12,000 Took loan from Anush Rs. 15,000 Cheque received from Pranav Rs. 15,000 Paid to Intel Computers by cheque Rs. 17,000 Withdrew from bank Rs. 5,000 Withdrew from bank for office use Rs. 8,000 Cash received from Bhuvan on loan account Rs. 10,000 Withdrew from bank for personal use Rs. 1,000 Cash taken by proprietor for personal use Rs. 3,000 Bought furniture and paid by cheque Rs. 15,000 Paid to Anush by cheque on loan account Rs. 5,000 Brought additional capital of Rs. 25,000

Journal in the books of M/s Rama & Sons for the period from ____ to _____ Date V/R No. Particulars L/F Debit Amount (in Rs) Credit Amount (in Rs) May 3rd – Bank a/c       To Cash a/c [Being the amount of cash deposited into bank vide vocher no:___ dated:__] Dr – – 60,000 60,000 4th – Loan to Bhuvan a/c       To Cash a/c [Being the amount of cash given as loan to Bhuvan vide vocher no:___ dated:__ ] Dr – – 20,000 20,000 4th – Veeru a/c       To Cash a/c [Being the amount of cash paid to Veeru vide vocher no:___ dated:__ ] Dr – – 20,000 20,000 5th – Veeru a/c       To Bank a/c [Being the amount paid by cheque no. ___ dated ___ to veeru on account vide bill no:___ dated:__ ] Dr – – 15,000 15,000 5th – Cash a/c       To Tarun a/c [Being the amount of cash received from Tarun vide cash receipt no:___ dated:__ ] Dr – – 12,000 12,000 5th – Cash a/c       To Loan from Anush a/c [Being the amount of loan taken from Anush vide their cash bill no:___ dated:__ ] Dr – – 15,000 15,000 6th – Bank a/c       To Pranav a/c [Being the amount received by cheque no. ____ date ____from Pranav vide their cash bill no:___ dated:__ ] Dr – – 15,000 15,000 6th – Intel Computers a/c       To Bank a/c [Being the amount paid by cheque no. ____ date ____to Intel Computers vide bill no:___ dated:__ ] Dr – – 17,000 17,000 6th – Cash a/c       To Bank a/c [Being the amount of cash withdrawn from bank vide bill no:___ dated:__ ] Dr – – 5,000 5,000 7th – Cash a/c       To Bank a/c [Being the amount of cash withdrawn from bank vide bill no:___ dated:__ ] Dr – – 8,000 8,000 7th – Cash a/c       To Loan to Bhuvan a/c [Being the amount of cash received from Bhuvan vide cash receipt no:___ dated:__ ] Dr – – 10,000 10,000 8th – Drawings a/c       To Bank a/c [Being the amount of cash withdrawn from bank for personal use vide bill no:___ dated:__ ] Dr – – 1,000 1,000 8th – Drawings a/c       To Cash a/c [Being the amount of cash taken by the proprietor vide vocher no:___ dated:__ ] Dr – – 3,000 3,000 9th – Furniture a/c       To Bank a/c [Being the amount paid by cheque no ____ date ____ towards the purchase of furniture vide bill no:___ dated:__ ] Dr – – 15,000 15,000 9th – Loan from Anush a/c       To Bank a/c [Being the amount paid by cheque no ____ date ____ towards repayment of loan from Anush vide vocher no:___ dated:__ ] Dr – – 5,000 5,000 9th – Cash a/c       To Capital a/c [Being the amount received from propritor as capital vide cash receipt no:___ dated:__ ] Dr – – 25,000 25,000