Journal

1. Pass Journal entries for the following transactions.

a. Mohanlal started business with cash ₹ 2,00,000 and Bank ₹ 8,00,000.
b. Bought a machinery for ₹ 25,00,000 by making a downpayment of 10%.
c. Paid ₹ 48,000 as wages for installation of machine.
d. Bought goods from Chhabra bros ₹ 3,00,000.
e. Withdrawn from bank ₹ 50,000.
f. Repaid bank loan ₹ 35,000 including interest of ₹ 3,000.
g. Sold goods to Samuel ₹ 40,000.
h. Received from Samuel ₹ 39,750, discount allowed ₹ 250.
i. Paid rent of ₹ 37,500 by cheque.
j. Provide depreciation on machinery at 15% per annum.
Journal

Date Particulars L.F. Debit ₹ Credit ₹

a Cash a/c Dr 2,00,000
Bank a/c Dr 8,00,000
To Capital a/c 10,00,000
(Being Mohanlal started business with cash ₹
20,000 and Bank₹ 80,000)
b Machinery a/c Dr 25,00,000
To Cash/Bank a/c 2,50,000
To Bank loan a/c 22,50,000
(Being Machinery bought for ₹ 7,00,000 by making
a downpayment of 10% and balance by loan)
c Machinery a/c Dr 48,000
To Cash a/c 48,000
(Being ₹ 48,000 paid as wages for installation of
machine)

d Purchases a/c Dr 3,00,000

To Chhabra bros 3,00,000
(Being Goods purchased from Chhabra bros)
e Cash a/c Dr 50,000
To Bank a/c 50,000
(Being cash withdrawn from bank for office use)
f Bank loan a/c Dr 32,000
Interest a/c Dr 3,000
To Bank a/c 35,000
(Being bank loan and interest paid)
g Samuel Dr 40,000
To Sales a/c 40,000
(Being goods sold to Samuel)
h Cash a/c Dr 39,750
Discount allowed a/c Dr 250
To Samuel 40,000
(Being cash received from Samuel ₹ 39,750 and
discount allowed ₹ 250)
i Rent a/c Dr 37,500
To Bank a/c 37,500
 (Being rent paid by cheque)
j Depreciation a/c Dr 3,75,000
To Machinery a/c 3,75,000
(Being 15% depreciation provided on machinery)

Total 44,25,500 44,25,500

2. Pass Journal entries for the following transactions.

a. Aakash started business with cash ₹ 3,00,000 and Furniture ₹ 4,00,000.
b. Bought goods from Bhushan traders ₹ 30,00,000.
c. Returned goods worth ₹ 1,20,000 to Bhushan traders.
d. Sold goods to Pawan ₹ 4,00,000.
e. Paid to Bhushan traders ₹ 1,50,000 and cash discount received 2%.
f. Goods returned by Pawan ₹ 80,000.
g. Sold goods for cash ₹ 1,20,000.
h. Goods given as samples ₹ 20,000.
i. Paid income tax of ₹ 37,500.
j. Goods taken by Aakash for household use ₹ 10,000.
Journal

Date Particulars L.F. Debit ₹ Credit ₹

a Cash a/c Dr 3,00,000
Furniture a/c Dr 4,00,000
To Capital a/c 7,00,000
(Being Aakash started business with cash ₹
3,00,000 and Furniture ₹ 2,00,000)
b Purchases a/c Dr 30,00,000
To Bhushan traders 30,00,000
(Being Goods purchased from Bhushan traders)
c Bhushan traders Dr 1,20,000
To Purchases Return a/c 1,20,000
(Being goods worth ₹ 1,20,000 returned to
Bhushan traders)

d Pawan Dr 4,00,000
To Sales a/c 4,00,000
(Being goods sold to Pawan)
e Bhushan traders a/c Dr 1,50,000
To cash a/c 1,47,000
To discount received a/c 3,000
(Being cash withdrawn from bank for office use)
f Sales Return a/c Dr 80,000
To Pawan 80,000
(Being bank loan and interest paid)
g Cash a/c Dr 1,20,000
To Sales a/c 1,20,000
(Being goods sold to Samuel)
h Advertisement Expenses a/c Dr 20,000
To Purchases a/c 20,000
(Being Goods given as Samples)
 i Drawings a/c Dr 37,500
To cash a/c 37,500
(Being Income Tax ₹ 37,500)
j Drawings a/c Dr 10,000
To purchases a/c 10,000
(Being goods taken by Aakash for household use)

Total 46,37,500 46,37,500

3. Pass Journal entries for the following transactions.

a. Tejvir started business with cash ₹ 5,00,000.
b. Opened a bank account ₹ 3,00,000.
c. Invested in shares(personal) by cheque ₹ 50,000.
d. Bought goods for ₹ 3,00,000, paid half by cash and cheque.
e. Paid carriage for unloading ₹ 5,000.
f. Bank charged ₹ 2,000.
g. Goods lost by pilferage ₹ 15,000.
h. Dividend collected by bank ₹ 5,000.
i. Tejvir sold his personal scooter for ₹ 35,000 and deposited the money in firm’s bank account.
Journal

Date Particulars L.F. Debit ₹ Credit ₹

a Cash a/c Dr 5,00,000
To Capital a/c 5,00,000
(Being Tejvir started business with cash)
b Bank a/c Dr 3,00,000
To cash a/c 3,00,000
(Being bank account opened by cash)
c Drawings a/c Dr 50,000
To bank a/c 50,000
(Being personal investment made by cash)

d Purchases a/c Dr 3,00,000

To cash a/c 1,50,000
To bank a/c 1,50,000
(Being goods purchased paid half by cash and
bank)
e Carriage a/c Dr 5,000
To cash a/c 5,000
(Being carriage paid)
f Bank charges a/c Dr 2,000
To bank a/c 2,000
(Being bank loan and interest paid)
g Loss by pilferage a/c Dr 15,000
To Purchases a/c 15,000
(Being Goods lost by pilferage)
h Bank a/c Dr 5,000
To Dividend a/c 5,000
(Being dividend collected by bank)
i Bank a/c Dr 35,000
 To Capital a/c 35,000
(Being personal assets sold and put the money into
bank)

Total 12,12,000 12,12,000

4. Pass Journal entries for the following transactions.

a. Surekha started business with cash ₹ 5,00,000.
b. Bought goods from Goyalson’s for ₹ 3,00,000, paid half by cash.
c. Sold goods to Sonika for ₹ 1,00,000, received ₹ 60,000 immediately.
d. 10% of the goods returned by Sonika being defective.
e. Paid to Goyalson’s ₹ 1,49,000 in full settlement.
f. Amount due from Sonika is not recoverable.
g. Paid ₹ 15,000,2/3rd of the premises is occupied for own use.
JOURNAL
Date Particulars L.F. Debit ₹ Credit ₹
a Cash a/c Dr 5,00,000
To Capital a/c 5,00,000
(Being Surekha started business with cash)
b Purchases a/c Dr 3,00,000
To Cash a/c 1,50,000
To Goyalson’s 1,50,000
(Being goods bought from Goyalson’s for ₹
3,00,000, paid half by cash)
c Cash a/c Dr 60,000
Sonika Dr 40,000
To Sales a/c 1,00,000
(Being goods to Sonika for ₹ 1,00,000, received ₹
60,000 immediately)

d Sales Return a/c Dr 10,000

To Sonika 10,000
(Being goods returned by Sonika)
e Goyalson’s a/c Dr 1,50,000
To Cash a/c 1,49,000
To Discount received a/c 1,000
(Being ₹ 1,49,000 paid to Goyalson’s in full
settlement and discount received)
f Bad Debts a/c Dr 30,000
To Sonika 30,000
(Being remaining amount not recoverable i.e. ₹
1,00,000 - ₹ 60,000 - ₹ 10,000)
g Rent a/c Dr 5,000
Drawings a/c Dr 10,000
To Cash a/c 15,000
(Being rent paid 1/3rd for office and 2/3rd for
personal use)
Total 11,05,000 11,05,000
5. Pass Journal entries for the following transactions.
a. Muskaan started business with cash ₹ 3,00,000, stock ₹ 5,00,000 and building ₹ 25,00,000.
b. Repairs to building ₹ 40,000.
c. Paid insurance premium for stock ₹ 15,000 and self ₹ 7,000.
d. Goods destroyed by fire ₹ 80,000.
e. Commission received ₹ 25,000, 20% being received in advance.
f. Insurance company paid 80% in full and final settlement.
g. Salaries paid ₹ 48,000 and due ₹ 22,000.
Journal

Date Particulars L.F. Debit ₹ Credit ₹

a Cash a/c Dr 3,00,000
Stock a/c Dr 5,00,000
Building a/c Dr 25,00,000
To Capital a/c 33,00,000
(Being Muskaan started business with cash ₹
3,00,000, stock ₹ 5,00,000 and building ₹
25,00,000)
b Repairs a/c Dr 40,000
To Cash a/c 40,000
(Being Goods purchased from Bhushan traders)
c Insurance a/c Dr 15,000
Drawings a/c Dr 7,000
To Cash a/c 22,000
(Being insurance premium paid for stock ₹ 15,000
and self ₹ 7,000)

d i. Loss by fire a/c Dr 80,000

To Purchases a/c 80,000
(Being Goods lost by fire)
ii. Insurance Co. a/c Dr 80,000
To Loss by fire a/c 80,000
(Being cash withdrawn from bank for office use)
e Cash a/c Dr 25,000
To Commission a/c 20,000
To Commission received in advance a/c 5,000
(Being Commission received ₹ 25,000, ₹ 5,000
being received in advance)
f Cash a/c Dr 64,000
Loss by fire a/c Dr 16,000
To Insurance Co a/c 80,000
(Being 80% claim received in full and final
settlement)
g Salary a/c Dr 70,000
To Cash a/c 48,000
To Salary outstanding a/c 22,000
(Being Salaries paid ₹ 48,000 and due ₹ 22,000)

Total 36,97,000 36,97,000