Chapter 3 Recording of Transactions I Solutions

Question - 31 : -
Jouranlise the following transactions in the books of Harpreet Bros.:
(a) Rs 1,000 due from Rohit are now bad debts.
(b) Goods worth Rs 2,000 were used by the proprietor.
(c) Charge depreciation @ 10% p.a for two month on machine costing Rs 30,000.
(d) Provide interest on capital of Rs 1,50,000 at 6% p.a. for 9 months.
(e) Rahul become insolvent, who owed is Rs 2,000 a final dividend of 60 paise in a rupee is received from his estate.

Answer - 31 : -

Books of Harpreet Bros.
Journal
S. No.		Particulars		L.F.	Debit Amount Rs	Credit Amount Rs
(a)	Bad Debt A/c		Dr.		1,000
		To Rohit (Debtors)				1,000
	(Due from Rohit became bad debt)

(b)	Drawings A/c		Dr.		2,000
		To Purchases A/c				2,000
	(Goods withdrawn by proprietor for personal use)

(c)	Depreciation A/c		Dr.		500
		To Machinery A/c				500
	(Depreciation charged on machinery for two months)

(d)	Interest on Capital A/c		Dr.		6,750
		To Capital A/c				6,750
	(Interest on capital at 6% due for 9 months)

(e)	Bad Debt A/c		Dr.		800
	Cash A/c		Dr.		1,200
		To Rahul (Debtor)				2,000
	(Received from Rahul 60 paise in a rupee and rest amount considered as bad debt)

		Total			12,250	12,250

Question - 32 : - Prepare Journal from the transactions given below :

Rs

(a)

Cash paid for installation of machine

500

(b)

Goods given as charity

2,000

(c)

Interest charge on capital @ 7% p.a. when total capital were

70,000

(d)

Received Rs 1,200 of a bad debts written-off last year.

(e)

Goods destroyed by fire

2,000

(f)

Rent outstanding

1,000

(g)

Interest on drawings

900

(h)

Sudhir Kumar who owed me Rs 3,000 has failed to pay the amount. He pays me a compensation of 45 paise in a rupee.

(i)

Commission received in advance

7,000

Answer - 32 : -

Journal

S. No.

Particulars

L.F.

Debit Amount

Credit Amount

(a)

Machinery A/c

Dr.

500

To Cash A/c

500

(Cash paid for installation of machinery)

(b)

Charity A/c

Dr.

2,000

To Purchases A/c

2,000

(Goods given as charity)

(c)

Interest on Capital A/c

Dr.

4,900

To Capital A/c

4,900

(Interest on capital charged @ 7% p.a.)

(d)

Cash A/c

Dr.

1,200

To Bad Debt Recovered A/c

1,200

(Cash received on from debtors which was

previously written off as bad)

(e)

Goods Destroyed by Fire A/c

Dr.

2,000

To Purchases A/c

2,000

(Goods destroyed by fire)

(f)

Rent A/c

Dr.

1,000

To Rent Outstanding A/c

1,000

(Rent due but not paid)

(g)

Drawings A/c

Dr.

900

To Interest on Drawings A/c

900

(Interest allowed on drawings)

(h)

Cash A/c

Dr.

1,350

Bad Debt A/c

Dr.

1,650

To Sudhir Kumar

3,000

(Sudhir Kumar declared insolvent and cash

received from him 45 paise in a rupee in full

settlement)

(i)

Commission A/c

Dr.

7,000

To Commission Received in Advance A/c

7,000

(Commission received in advance)

(Note: If it is assumed, commission in

advance already credited as commission)

Cash A/c

Dr.

7,000

To Commission Received in Advance

7,000

(Commission received in Advance)

(Note: If it is assumed, commission in advance

not already credited as commission)

Total

22,500

Question - 33 : - Journalise the following transactions, post to the ledger:

2017

Rs

Nov. 01

Business started with

(i) Cash

1,50,000

(ii) Goods

50,000

Nov. 03

Purchased goods from Harish

30,000

Nov. 05

Sold goods for cash

12,000

Nov. 08

Purchase furniture for cash

5,000

Nov. 10

Cash paid to Harish on account

15,000

Nov. 13

Paid sundry expenses

200

Nov. 15

Cash sales

15,000

Nov. 18

Deposited into bank

5,000

Nov. 20

Drew cash for personal use

1,000

Nov. 22

Cash paid to Harish in full settlement of account

14,700

Nov. 25

Good sold to Nitesh

7,000

Nov. 26

Cartage paid

200

Nov. 27

Rent paid

1,500

Nov. 29

Received cash from Nitesh

6,800

Discount allowed

200

Nov. 30

Salary paid

3,000

Answer - 33 : -

Journal
Date		Particulars			L.F.	Debit Amount Rs	Credit Amount Rs
2017
Nov.01	Cash A/c			Dr.		1,50,000
	Stock A/c			Dr.		50,000
		To Capital A/c					2,00,000
	(Started business with cash and goods)

Nov.03	Purchases A/c			Dr.		30,000
		To Harish					30,000
	(Goods purchased from Harish)

Nov.05	Cash A/c			Dr.		12,000
		To Sales A/c					12,000
	(Goods sold for cash)

Nov.08	Furniture A/c			Dr.		5,000
		To Cash A/c					5,000
	(Furniture purchased for cash)

Nov.10	Harish A/c			Dr.		15,000
		To Cash A/c					15,000
	(Cash paid to Harish)

Nov.13	Sundry Expenses A/c			Dr.		200
		To Cash					200
	(Sundry expenses paid)

Nov.15	Cash A/c			Dr.		15,000
		To Sales A/c					15,000
	(Goods sold for cash)

Nov.18	Bank A/c			Dr.		5,000
		To Cash A/c					5,000
	(Cash deposited into bank)

Nov.20	Drawings A/c			Dr.		1,000
		To Cash A/c					1,000
	(Cash drawn for personal use)

Nov.22	Harish			Dr.		15,000
		To Cash A/c					14,700
		To Discount Received A/c					300
	(Payment made to Harish and discount received)

Nov.25	Nitesh			Dr.		7,000
		To Sales A/c					7,000
	(Goods sold to Nitesh)

Nov.26	Cartage A/c			Dr.		200
		To Cash A/c					200
	(Cartage paid)

Nov.27	Rent A/c			Dr.		1,500
		To Cash A/c					1,500
	(Rent paid)

Nov.29	Cash A/c			Dr.		6,800
	Discount Allowed A/c					200
			To Nitesh				7,000
	(Cash received from Nitesh and discount allowed)

Nov.30	Salaries A/c			Dr.		3,000
		To Cash A/c					3,000
	(Salary paid)

		Total				3,16,900	3,16,900

Ledger

Cash Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Nov.01	Capital		1,50,000	Nov.08	Furniture		5,000
Nov.05	Sales		12,000	Nov.10	Harish		15,000
Nov.15	Sales		15,000	Nov.13	Sundry Expenses		200
Nov.29	Nitesh		6,800	Nov.18	Bank		5,000
				Nov.20	Drawings		1,000
				Nov.22	Harish		14,700
				Nov.26	Cartage		200
				Nov.27	Rent		1,500
				Nov.30	Salaries		3,000
				Nov.30	Balance c/d		1,38,200
			1,83,000				1,83,000

Capital Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
				Nov.01	Cash		1,50,000
				Nov.01	Stock		50,000
Nov.30	Balance c/d		2,00,000
			2,00,000				2,00,000

Stock Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Nov.01	Capital		50,000
				Nov. 30	Balance c/d		50,000
			50,000				50,000

Cartage Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Nov.26	Cash		200
				Nov.30	Balance c/d		200
			200				200

Rent Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Nov.27	Cash		1,500
				Nov.30	Balance c/d		1,500
			1,500				1,500

Salaries Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Nov.30	Cash		3,000
				Nov.30	Balance c/d		3,000
			3,000				3,000

Furniture Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Nov.08	Cash		5,000
				Nov.30	Balance c/d
			5,000				5,000

Nitesh’s Account
Dr							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Nov.25	Sales		7,000	Nov.29	Cash		6,800
				Nov.29	Discount Allowed		200

			7,000				7,000

Sales Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
				Nov.05	Cash		12,000
				Nov.15	Cash		15,000
Nov.30	Balanced c/d		34,000	Nov.25	Nitesh		7,000
			34,000				34,000

Purchases Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Nov.03	Harish		30,000
				Nov.30	Balance c/d		30,000
			30,000				30,000

Harish’s Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Nov.10	Cash		15,000	Nov.03	Purchases		30,000
Nov.22	Cash		14,700
Nov.22	Discount Received		300
			30,000				30,000

Sundry Expenses Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Nov.13	Cash		200
				Nov.30	Balance c/d		200
			200				200

Bank Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Nov.18	Cash		5,000
				Nov.30	Balance c/d		5,000
			5,000				5,000

Drawings Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Nov.20	Cash		1,000
				Nov.30	Balance c/d		1,000
			1,000				1,000

Discount Received Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
				Nov.22	Harish		300
Nov.30	Balance c/d		300
			300				3,00

Discount Allowed Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Nov.29	Nitesh		200
				Nov.30	Balance c/d		200
			200				200

Question - 34 : - Journalise the following transactions is the journal of M/s. Goel Brothers and post them to the ledger.

2017

Rs

Jan. 01

Started business with cash

1,65,000

Jan. 02

Opened bank account in PNB

80,000

Jan. 04

Goods purchased from Tara

22,000

Jan.05

Goods purchased for cash

30,000

Jan.08

Goods sold to Naman

12,000

Jan.10

Cash paid to Tara

22,000

Jan.15

Cash received from Naman

11,700

Discount allowed

300

Jan. 16

Paid wages

200

Jan. 18

Furniture purchased for office use

5,000

Jan. 20

Withdrawn from bank for personal use

4,000

Jan. 22

Issued cheque for rent

3,000

Jan. 23

Goods issued for house hold purpose

2,000

Jan. 24

Drawn cash from bank for office use

6,000

Jan. 26

Commission received

1,000

Jan. 27

Bank charges

200

Jan. 28

Cheque given for insurance premium

3,000

Jan. 29

Paid salary

7,000

Jan. 30

Cash sales

10,000

Answer - 34 : -

Books of M/s Goel Brothers
Journal
Date		Particulars		L.F.	Debit Amount Rs	Credit Amount Rs
2017
Jan.01	Cash A/c		Dr.		1,65,000
		To Capital A/c				1,65,000
	(Started business with cash)

Jan.02	Bank A/c		Dr.		80,000
		To Cash A/c				80,000
	(Bank account opened with PNB)

Jan.04	Purchases A/c		Dr.		22,000
		To Tara				22,000
	(Goods purchased from Tara)

Jan.05	Purchases A/c		Dr.		30,000
		To Cash A/c				30,000
	(Goods purchased for cash)

Jan.08	Naman		Dr.		12,000
		To Sales A/c				12,000
	(Sale of goods to Naman)

Jan.10	Tara		Dr.		22,000
		To Cash A/c				22,000
	(Cash paid to Tara)

Jan.15	Cash A/c		Dr.		11,700
	Discount Allowed A/c		Dr.		300
		To Naman				12,000
	(Cash received from Naman and discount allowed)

Jan.16	Wages A/c		Dr.		200
		To Cash A/c				200
	(Wages paid)

Jan.18	Furniture A/c		Dr.		5,000
		To Cash A/c				5,000
	(Furniture purchased for cash)

Jan.20	Drawings A/c		Dr.		4,000
		To Bank A/c				4,000
	(Cash drawn from bank for personal use)

Jan.22	Rent A/c		Dr.		3,000
		To Bank A/c				3,000
	(Rent paid through cheque)

Jan.23	Drawings A/c		Dr.		2,000
		To Purchases A/c				2,000
	(Goods drawn for household purpose)

Jan.24	Cash A/c		Dr.		6,000
		To Bank A/c				6,000
	(Cash drawn from bank)

Jan.26	Cash A/c		Dr.		1,000
		To Commission A/c				1,000
	(Commission received)

Jan.27	Bank Charges A/c		Dr.		200
		To Bank A/c				200
	(Bank charged charges)

Jan.28	Insurance A/c		Dr.		3,000
		To Bank A/c				3,000
	(Insurance paid through cheque)

Jan.29	Salaries A/c		Dr.		7,000
		To Cash A/c				7,000
	(Salary paid)

Jan.30	Cash A/c		Dr.		10,000
		To Sales A/c				10,000
	(Cash received for sale of goods)
		Total			3,84,400	3,84,400

Ledger

Cash Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Jan.01	Capital		1,65,000	Jan.02	Bank		80,000
Jan.15	Naman		11,700	Jan.05	Purchases		30,000
Jan.24	Bank		6,000	Jan.10	Tara		22,000
Jan.26	Commission		1,000	Jan.16	Wages		200
Jan.30	Sales		10,000	Jan.18	Furniture		5,000
				Jan.29	Salaries		7,000
				Jan.31	Balance c/d		49,500

			1,93,700				1,93,700

Capital Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
				Jan.01	Cash		1,65,000
Jan.31	Balance c/d		1,65,000
			1,65,000				1,65,000

Bank Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Jan.02	Cash		80,000	Jan.20	Drawings		4,000
				Jan.22	Rent		3,000
				Jan.24	Cash		6,000
				Jan.27	Bank charges		200
				Jan.28	Insurance		3,000
				Jan.31	Balance c/d		63,800
			80,000				80,000

Tara’s Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Jan.10	Cash		22,000	Jan.04	Purchases		22,000

			22,000				22,000

Purchases Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Jan.04	Tara		22,000	Jan.23	Drawings		2,000
Jan.05	Cash		30,000	Jan.31	Balance c/d		50,000

			52,000				52,000

Sales Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
				Jan.08	Naman		12,000
Jan.31	Balanced c/d		22,000	Jan.30	Cash		10,000

			22,000				22,000

Naman's Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Jan.08	Sales		12,000	Jan.15	Cash		11,700
				Jan.15	Discount Allowed		300
			12,000				12,000

Discount Allowed Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Jan.15	Naman		300
				Jan.31	Balance c/d		300
			300				300

Wages Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Jan.16	Cash		200
				Jan.31	Balance c/d		200
			200				200

Furniture Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Jan.18	Cash		5,000
				Jan.31	Balance c/d		5,000
			5,000				5,000

Drawings Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.		Amount Rs
2017				2017
Jan.20	Bank		4,000
Jan.23	Purchases		2,000	Jan.31	Balance c/d			6,000

			6,000					6,000

Rent Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Jan.22	Bank		3,000
				Jan.31	Balance c/d		3,000
			3,000				3,000

Commission Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
				Jan.26	Cash		1,000
Jan.31	Balance c/d		1,000
			1,000				1,000

Bank Charges Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Jan.27	Bank		200
				Jan.31	Balance c/d		200
			200				200

Insurance Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Jan.28	Bank		3,000
				Jan.31	Balance c/d		3,000
			3,000				3,000

Salaries Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Jan.29	Cash		7,000
				Jan.31	Balance c/d		7,000
			7,000				7,000

Question - 35 : - Give journal entries of M/s. Mohit traders; post them to the Ledger from the following transactions:

August, 2017

Rs

1

Commenced business with cash

1,10,000

2

Opened bank account with H.D.F.C.

50,000

3

Purchased furniture

20,000

7

Bought goods for cash from M/s. Rupa Traders

30,000

8

Purchased good from M/s. Hema Traders

42,000

10

Sold goods for cash

30,000

14

Sold goods on credit to M/s. Gupta Traders

12,000

16

Rent paid

4,000

18

Paid trade expenses

1,000

20

Received cash from Gupta Traders

12,000

22

Goods return to Hema Traders

2,000

23

Cash paid to Hema Traders

40,000

25

Bought postage stamps

100

30

Paid salary to Rishabh

4,000

Answer - 35 : -

Books of M/s. Mohit Traders
Journal
Date		Particulars		L.F.	Debit Amount Rs	Credit Amount Rs
2017
Aug.01	Cash A/c		Dr.		1,10,000
		To Capital A/c				1,10,000
	(Commenced business with cash)

Aug.02	Bank A/c		Dr.		50,000
		To Cash A/c				50,000
	(Bank account opened with H.D.F.C)

Aug.03	Furniture A/c		Dr.		20,000
		To Cash A/c				20,000
	(Furniture purchased)

Aug.07	Purchases A/c		Dr.		30,000
		To Cash A/c				30,000
	(Goods purchased for cash)

Aug.08	Purchases A/c		Dr.		42,000
		To M/s. Hema Traders				42,000
	(Goods purchased from M/s. Hema Traders)

Aug.10	Cash A/c		Dr.		30,000
		To Sales A/c				30,000
	(Goods sold for cash)

Aug.14	M/s. Gupta Traders		Dr.		12,000
		To Sales A/c				12,000
	(Goods sold to M/s. Gupta traders)

Aug.16	Rent A/c		Dr.		4,000
		To Cash A/c				4,000
	(Rent paid in cash)

Aug.18	Trade Expenses A/c		Dr.		1,000
		To Cash A/c				1,000
	(Trade expenses paid in cash)

Aug.20	Cash A/c		Dr.		12,000
		To M/s. Gupta Traders				12,000
	(Cash received from M/s. Gupta Traders)

Aug.22	M/s. Hema Traders		Dr.		2,000
		To Purchases Return A/c				2,000
	(Goods returned to Hema traders)

Aug.23	M/s. Hema Traders		Dr.		40,000
		To Cash A/c				40,000
	(Cash paid to Hema traders)

Aug.25	Postage Stamps A/c		Dr.		100
		To Cash A/c				100
	(Postage stamps purchased)

Aug.30	Salaries A/c		Dr.		4,000
		To Cash A/c				4,000
	(Salaries paid in cash)
		Total			3,57,100	3,57,100

Cash Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Aug.01	Capital		1,10,000	Aug.02	Bank		50,000
Aug.10	Sales		30,000	Aug.03	Furniture		20,000
Aug.20	M/s. Gupta Traders		12,000	Aug.07	Purchases		30,000
				Aug.16	Rent		4,000
				Aug.18	Trade Expenses		1,000
				Aug.23	M/s. Hema Traders		40,000
				Aug.25	Postage Stamps		100
				Aug.30	Salaries		4,000
				Aug.31	Balance c/d		2,900

			1,52,000				1,52,000

Capital Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
				Aug.01	Cash		1,10,000
Aug.31	Balance c/d		1,10,000
			1,10,000				1,10,000

Bank Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Aug.02	Cash		50,000
				Aug.31	Balance c/d		50,000
			50,000				50,000

Furniture Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Aug.03	Cash		20,000
				Aug.31	Balanced c/d		20,000
			20,000				20,000

Purchases Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Aug.07	Cash		30,000
Aug.08	M/s. Hema Traders		42,000	Aug.31	Balance c/d		72,000
			72,000				72,000

M/s. Hema Traders Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Aug.22	Purchases Return		2,000	Aug.08	Purchases		42,000
Aug.23	Cash		40,000

			42,000				42,000

Sales Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
				Aug.10	Cash		30,000
Aug.31	Balance c/d		42,000	Aug.14	M/s. Gupta Traders		12,000

			42,000				42,000

M/s. Gupta Traders Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Aug.14	Sales		12,000
				Aug.20	Cash		12,000

			12,000				12,000

Rent Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Aug.16	Cash		4,000
				Aug.31	Balance c/d		4,000
			4,000				4,000

Trade Expenses Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Aug.18	Cash		1,000
				Aug.31	Balance c/d		1,000
			1,000				1,000

Purchases Return Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
				Aug.22	M/s. Hema Traders		2,000
Aug.31	Balance c/d		2,000
			2,000				2,000

Postage Stamps Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Aug.25	Cash		100
				Aug.31	Balance c/d		100

			100				100

Salaries Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Aug.30	Cash		4,000
				Aug.31	Balance c/d		4,000
			4,000				4,000

Question - 36 : - Journalise the following transaction in the Books of the M/s. Bhanu Traders and Post them into the Ledger.

December, 2017

Rs

1

Started business with cash

92,000

2

Deposited into bank

60,000

4

Bought goods on credit from Himani

40,000

6

Purchased goods from cash

20,000

8

Returned goods to Himani

4,000

10

Sold goods for cash

20,000

14

Cheque given to Himani

36,000

17

Goods sold to M/s. Goyal TradeRs

3,50,000

19

Drew cash from bank for personal use

2,000

21

Goyal traders returned goods

3,500

22

Cash deposited into bank

20,000

26

Cheque received from Goyal Traders

31,500

28

Goods given as charity

2,000

29

Rent paid

3,000

30

Salary paid

7,000

31

Office machine purchased for cash

3,000

Answer - 36 : -

Books of M/s. Bhanu Traders
Journal
Date		Particulars		L.F.	Debit Amount Rs	Credit Amount Rs
2017
Dec.01	Cash A/c		Dr.		92,000
		To Capital A/c				92,000
	(Started business with cash)

Dec.02	Bank A/c		Dr.		60,000
		To Cash A/c				60,000
	(Cash deposited into bank)

Dec.04	Purchases A/c		Dr.		40,000
		To Himani				40,000
	(Goods purchased from Himani)

Dec.06	Purchases A/c		Dr.		20,000
		To Cash A/c				20,000
	(Goods purchased for cash)

Dec.08	Himani		Dr.		4,000
		To Purchases Return A/c				4,000
	(Goods returned to Himani)

Dec.10	Cash A/c		Dr.		20,000
		To Sales A/c				20,000
	(Goods sold for cash)

Dec.14	Himani		Dr.		36,000
		To Bank A/c				36,000
	(Cheque given to Himani)

Dec.17	M/s. Goyal Traders A/c		Dr.		35,000
		To Sales A/c				35,000
	(Goods sold to M/s. Goyal Traders)

Dec.19	Drawings A/c		Dr.		2,000
		To Bank A/c				2,000
	(Cash withdrawn from bank for personal use)

Dec.21	Sales Return A/c		Dr.		3,500
		To M/s. Goyal Traders				3,500
	(Goods returned by Goyal Traders)

Dec.22	Bank A/c		Dr.		20,000
		To Cash A/c				20,000
	(Cash deposited into bank)

Dec.26	Bank A/c		Dr.		31,500
		To M/s. Goyal Traders				31,500
	(Cheque received from M/s. Goyal Traders)

Dec.28	Charity A/c		Dr.		2,000
		To Purchases A/c				2,000
	(Goods given as charity)

Dec.29	Rent A/c		Dr.		3,000
		To Bank A/c				3,000
	(Rent paid) see note

Dec.30	Salaries A/c				7,000
		To Cash A/c				7,000
	(Salaries paid)

Dec.31	Office Machine A/c				3,000
		To Cash A/c				3,000
	(Office machinery purchased)
		Total			6,94,000	6,94,000

Cash Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Dec.01	Capital		92,000	Dec.02	Bank		60,000
Dec.10	Sales		20,000	Dec.06	Purchases		20,000
				Dec.22	Bank		20,000
				Dec.30	Salaries		7,000
				Dec.31	Office Machine		3,000
				Dec.31	Balance c/d		2,000

			1,12,000				1,12,000

Capital Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
				Dec.01	Cash		92,000
Dec.31	Balance c/d		92,000
			92,000				92,000

Bank Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Dec.02	Cash		60,000	Dec.14	Himani		36,000
Dec.22	Cash		20,000	Dec.19	Drawings		2,000
Dec.26	Goyal Traders		31,500	Dec.29	Rent (see note)		3,000
				Dec.31	Balance c/d		70,500
			1,11,500				11,500

Note: Fortransaction on December 29, 2017, it has been assumed that the rent of Rs 3,000is paid through cheque. If instead the rent would have been paid in cash, thecash account would have shown a credit (negative) balance and that is logicallynot correct.

Purchases Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Dec.04	Himani		40,000	Dec.28	Charity		2,000
Dec.06	Cash		20,000	Dec.31	Balance c/d		58,000

			60,000				60,000

Himani's Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Dec.08	Purchases Return		4,000	Dec.04	Purchases		40,000
Dec.14	Bank		36,000

			40,000				40,000

Sales Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
				Dec.10	Cash		20,000
Dec.31	Balance c/d		55,000	Dec.17	M/s. Goyal Traders		35,000

			55,000				55,000

M/s. Goyal Traders Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Dec.17	Sales		35,000	Dec.21	Sales Return		3,500
				Dec.26	Bank		31,500
			35,000				35,000

Purchases Return Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
				Dec.08	Himani		4,000
Dec.31	Balance c/d		4,000
			4,000				4,000

Drawings Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Dec.19	Bank		2,000
				Dec.31	Balance c/d		2,000
			2,000				2,000

Sales Return Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Dec.21	M/s. Goyal Traders		3,500
				Dec.31	Balance c/d		3,500
			3,500				3,500

Charity Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Dec.28	Purchases		2,000
				Aug.31	Balance c/d		2,000
			2,000				2,000

Rent Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Dec.29	Cash		3,000
				Dec.31	Balance c/d		3,000
			3,000				3,000

Salaries Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Dec.30	Cash		7,000
				Dec.31	Balance c/d		7,000
			7,000				7,000

Office Machine Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Dec.31	Cash		3,000
				Dec.31	Balance c/d		3,000
			3,000				3,000

Question - 37 : - Journalise the following transaction in the Book of M/s. Beauti tradeRs Also post them in the ledger.

Dec. 2017

Rs

1

Started business with cash

2,00,000

2

Bought office furniture

30,000

3

Paid into bank to open an current account

1,00,000

5

Purchased a computer and paid by cheque

2,50,000

6

Bought goods on credit from Ritika

60,000

8

Cash sales

30,000

9

Sold goods to Karishna on credit

25,000

12

Cash paid to Mansi on account

30,000

14

Goods returned to Ritika

2,000

15

Stationery purchased for cash

3,000

16

Paid wages

1,000

18

Goods returned by Karishna

2,000

20

Cheque given to Ritika

28,000

22

Cash received from Karishna on account

15,000

24

Insurance premium paid by cheque

4,000

26

Cheque received from Karishna

8,000

28

Rent paid by cheque

3,000

29

Purchased goods on credit from Meena Traders

20,000

30

Cash sales

14,000

Answer - 37 : -

Books of Beauti Traders
Journal
Date	Particulars				L.F.	Debit Amount Rs	Credit Amount Rs
2017
Dec.01	Cash A/c			Dr.		2,00,000
		To Capital A/c					2,00,000
	(Started business with cash)

Dec.02	Office Furniture A/c			Dr.		30,000
		To Cash A/c					30,000
	(Office furniture purchased)

Dec.03	Bank A/c			Dr.		1,00,000
		To Cash A/c					1,00,000
	(Opened a current account)

Dec.05	Computer A/c			Dr.		2,50,000
		To Bank A/c					2,50,000
	(Computer purchased and payment made through cheque)

Dec.06	Purchases A/c			Dr.		60,000
		To Ritika					60,000
	(Goods purchased from Ritika on credit)

Dec.08	Cash A/c			Dr.		30,000
		To Sales A/c					30,000
	(Goods sold for cash)

Dec.09	Krishna			Dr.		25,000
		To Sales A/c					25,000
	(Goods sold to Krishna)

Dec.12	Mansi			Dr.		30,000
		To Cash A/c					30,000
	(Cash paid to Mansi on account)

Dec.14	Ritika			Dr.		2,000
		To Purchases Return A/c					2,000
	(Goods returned to Ritika)

Dec.15	Stationery A/c			Dr.		3,000
		To Cash A/c					3,000
	(Stationery purchased for cash)

Dec.16	Wages A/c			Dr.		1,000
		To Cash A/c					1,000
	(Wages paid)

Dec.18	Sales Return A/c			Dr.		2,000
		To Krishna					2,000
	(Goods returned by Krishna)

Dec.20	Ritika			Dr.		28,000
		To Bank A/c					28,000
	(Cheque issued to Ritika)

Dec.22	Cash A/c			Dr.		15,000
		To Krishna					15,000
	(Cash received from Krishna on account)

Dec.24	Insurance A/c			Dr.		4,000
		To Bank A/c					4,000
	(Insurance premium paid through cheque)

Dec.26	Bank A/c			Dr.		8,000
		To Krishna					8,000
	(Cheque received from Krishna)

Dec.28	Rent A/c			Dr.		3,000
		To Bank A/c					3,000
	(Rent paid through cheque)

Dec.29	Purchases A/c			Dr.		20,000
		To Meena Traders					20,000
	(Goods purchased on credit from Meena Traders)

Dec.30	Cash A/c			Dr.		14,000
		To Sales A/c					14,000
	(Goods sold for cash)
			Total			8,25,000	8,25,000

Ledger

Cash Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Dec.01	Capital		2,00,000	Dec.02	Office Furniture		30,000
Dec.08	Sales		30,000	Dec.03	Bank		1,00,000
Dec.22	Krishna		15,000	Dec.12	Mansi		30,000
Dec.30	Sales		14,000	Dec.15	Stationery		3,000
				Dec.16	Wages		1,000
				Dec.31	Balance c/d		95,000
			2,59,000				2,59,000

Capital Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
				Dec.1	Cash		2,00,000
Dec.31	Balance c/d		2,00,000
			2,00,000				2,00,000

Office Furniture Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Dec.2	Cash		30,000
				Dec.31	Balance c/d		30,000
			30,000				30,000

Bank Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Dec.03	Cash		1,00,000	Dec.05	Computer		2,50,000
Dec.26	Krishna		8,000	Dec.20	Ritika		28,000
				Dec.24	Insurance		4,000
				Dec.28	Rent		3,000
Dec.31	Balance c/d (over draft)		1,77,000
			2,85,000				2,85,000

Computer Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Dec.05	Bank		2,50,000
				Dec.31	Balance c/d
			2,50,000				2,50,000

Purchases Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Dec.06	Ritika		60,000
Dec.29	Meena Traders		20,000
				Dec.31	Balance c/d		80,000
			80,000				80,000

Ritika's Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Dec.14	Purchases Return		2,000	Dec.06	Purchases		60,000
Dec.20	Bank		28,000
Dec.31	Balance c/d		30,000
			60,000				60,000

Meena's Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
				Dec.29	Purchases		20,000
Dec.31	Balance c/d		20,000
			20,000				20,000

Sales Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
				Dec.08	Cash		30,000
				Dec.09	Krishna		25,000
Dec.31	Balance c/d		69,000	Dec.30	Cash		14,000
			69,000				69,000

Krishna's Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Dec.09	Sales		25,000	Dec.18	Sales Return		2,000
				Dec.22	Cash		15,000
				Dec.26	Bank		8,000
			25,000				25,000

Mansi's Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Dec.12	Cash		30,000
				Dec.31	Balance c/d		30,000
			30,000				30,000

Purchases Return Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
				Dec.14	Ritika		2,000
Dec.31	Balance c/d		2,000
			2,000				2,000

Stationery Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Dec.15	Cash		3,000
				Dec.31	Balance c/d		3,000
			3,000				3,000

Wages Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Dec.16	Cash		1,000
				Dec.31	Balance c/d		1,000
			1,000				1,000

Sales Return Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Dec.18	Krishna		2,000
				Dec.31	Balance c/d		2,000
			2,000				2,000

Insurance Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Dec.24	Bank		4,000
				Dec.31	Balance c/d		4,000
			4,000				4,000

Rent Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Dec.28	Bank		3,000
				Dec.31	Balance c/d		3,000
			3,000				3,000

Question - 38 : - Journalise the following transaction in the books of Sanjana and post them into the ledger:

January, 2017

Rs

1

Cash in hand

6,000

Cash at bank

55,000

Stock of goods

40,000

Due to Rohan

6,000

Due from Tarun

10,000

3

Sold goods to Karuna

15,000

4

Cash sales

10,000

6

Goods sold to Heena

5,000

8

Purchased goods from Rupali

30,000

10

Goods returned from Karuna

2,000

14

Cash received from Karuna

13,000

15

Cheque given to Rohan

6,000

16

Cash received from Heena

3,000

20

Cheque received from Tarun

10,000

22

Cheque received from to Heena

2,000

25

Cash given to Rupali

18,000

26

Paid cartage

1,000

27

Paid salary

8,000

28

Cash sale

7,000

29

Cheque given to Rupali

12,000

30

Sanjana took goods for Personal use

4,000

31

Paid General expense

500

Answer - 38 : -

Books of Sanjana
Journal Entries
S.No.		Particulars		L.F.	Debit Amount Rs	Credit Amount Rs
2017
Jan.01	Cash A/c		Dr.		6,000
	Bank A/c		Dr.		55,000
	Stock A/c		Dr.		40,000
	Tarun		Dr.		10,000
		To Rohan				6,000
		To Capital A/c				1,05,000
	(Balance brought from the last month)

Jan.03	Karuna		Dr.		15,000
		To Sales A/c				15,000
	(Goods sold to Karuna)

Jan.04	Cash A/c		Dr.		10,000
		To Sales A/c				10,000
	(Goods sold for cash)

Jan.06	Heena		Dr.		5,000
		To Sales A/c				5,000
	(Goods sold to Henna)

Jan.08	Purchases A/c		Dr.		30,000
		To Rupali				30,000
	(Goods purchased from Rupali)

Jan.10	Sales Return A/c		Dr.		2,000
		To Karuna				2,000
	(Goods returned by Karuna)

Jan.14	Cash A/c		Dr.		13,000
		To Karuna				13,000
	(Cash received from Karuna)

Jan.15	Rohan		Dr.		6,000
		To Bank A/c				6,000
	(Cheque issued to Rohan)

Jan.16	Cash A/c		Dr.		3,000
		To Heena				3,000
	(Cash received from Heena)

Jan.20	Bank A/c		Dr.		10,000
		To Tarun				10,000
	(Cheque received from Tarun)

Jan.22	Bank A/c		Dr.		2,000
		To Heena				2,000
	(Cheque received from Heena)

Jan.25	Rupali		Dr.		18,000
		To Cash A/c				18,000
	(Payment made to Rupali)

Jan.26	Cartage A/c		Dr.		1,000
		To Cash A/c				1,000
	(Cartage paid)

Jan.27	Salaries A/c		Dr.		8,000
		To Cash A/c				8,000
	(Salaries paid)

Jan.28	Cash A/c		Dr.		7,000
		To Sales A/c				7,000
	(Goods sold for cash)

Jan.29	Rupali		Dr.		12,000
		To Bank A/c				12,000
	(Cheque issued to Rupali)

Jan.30	Drawings A/c		Dr.		4,000
		To Purchases A/c				4,000
	(Goods drawn for personal use)

Jan.31	General Expenses A/c		Dr.		500
		To Cash A/c				500

	Total				2,57,500	2,57,500

Ledger

Cash Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Jan.01	Balance b/d		6,000	Jan.25	Rupali		18,000
Jan.04	Sales		10,000	Jan.26	Cartage		1,000
Jan.14	Karuna		13,000	Jan.27	Salaries		8,000
Jan.16	Heena		3,000	Jan.31	General Expenses		500
Jan.28	Sales		7,000	Jan.31	Balance c/d		11,500
			39,000				39,000

Capital Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
				Jan.01	Balance b/d		1,05,000
Jan.31	Balance c/d		1,05,000
			1,05,000				1,05,000

Bank Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Jan.01	Balance b/d		55,000	Jan.15	Rohan		6,000
Jan.20	Tarun		10,000	Jan.29	Rupali		12,000
Jan.22	Heena		2,000	Jan.31	Balance c/d		49,000

			67,000				67,000

Stock Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Jan.01	Balance b/d		40,000
				Jan.31	Balance c/d		40,000
			40,000				40,000

Rohan’s Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Jan.15	Bank		6,000	Jan.01	Balance b/d		6,000

			6,000				6,000

Tarun’s Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Jan.01	Balance b/d		10,000	Jan.20	Bank		10,000

			10,000				10,000

Sales Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
				Jan.03	Karuna		15,000
				Jan.04	Cash		10,000
				Jan.06	Heena		5,000
Jan.31	Balance c/d		37,000	Jan.28	Cash		7,000
			37,000				37,000

Karuna's Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Jan.03	Sales		15,000	Jan.10	Sales Return		2,000
				Jan.14	Cash		13,000
			15,000				15,000

Heena's Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Jan.06	Sales		5,000	Jan.16	Cash		3,000
				Jan.22	Bank		2,000
			5,000				5,000

Purchases Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Jan.08	Rupali		30,000	Jan.30	Drawings		4,000
				Jan.31	Balance c/d		26,000
			30,000				30,000

Rupali's Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Jan.25	Cash		18,000	Jan.08	Purchases		30,000
Jan.29	Bank		12,000
			30,000				30,000

Sales Return Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Jan.10	Karuna		2,000
				Jan.31	Balance c/d		2,000
			2,000				2,000

Cartage Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Jan.26	Cash		1,000
				Jan.31	Balance c/d		1,000
			1,000				1,000

Salaries Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Jan.27	Cash		8,000
				Jan.31	Balance c/d		8,000
			8,000				8,000

Drawings Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Jan.30	Purchases		4,000
				Jan.31	Balance c/d		4,000
			4,000				4,000

General Expenses Account
Dr.							Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
2017				2017
Jan.31	Cash		500
				Jan.31	Balance c/d		500
			500				500

Question - 39 : -
Record journal entries for the following transactions in the books of Anudeep of Delhi:
(a) Bought goods Rs. 2,00,000 from Kanta of Delhi (CGST @ 9%, SGST @ 9%)
(b) Bought goods Rs. 1,00,000 for cash from Rajasthan (IGST @ 12%)
(c) Sold goods Rs. 1,50,000 to Sudhir of Punjab (IGST @ 18%)
(d) Paid for Railway Transport Rs. 10,000 (CGST @ 5%, SGST @ 5%)
(e) Sold goods Rs. 1,20,000 to Sidhu of Delhi (CGST @ 9%, SGST @ 9%)
(f) Bought Air-Condition for office use Rs. 60,000 (CGST @ 9%, SGST @ 9%)
(g) Sold goods Rs. 1,50,000 for cash to Sunil to Uttar Pradesh (IGST 18%)
(h) Bought Motor Cycle for business use Rs. 50,000 (CGST 14%, SGST @ 14%)
(i) Paid for Broadband services Rs. 4,000 (CGST @ 9%, SGST @ 0%)
(j) Bought goods Rs. 50,000 from Rajesh, Delhi (CGST @ 9%, SGST @ 9%)

Answer - 39 : -

Date	Particulars		L.F.	Dr. Rs.	Cr. Rs.
(a)	Purchases A/c	Dr		2,00,000
	Input CGST A/c	Dr		18,000
	Input SGST A/c			18,000
	To Kanta				2,36,000
	(Being goods purchased on credit locally)

(b)	Purchases A/c	Dr		1,00,000
	Input IGST A/c	Dr		12,000
	To Cash A/c				1,12,000
	(Being goods purchased in cash from Rajasthan)

(c)	Sudhir A/c	Dr		1,77,000
	To Sales A/c				1,50,000
	To Output IGST A/c				27,000
	(Being goods supplied on credit to Punjab)

(d)	Transport Charges A/c	Dr		10,000
	Input CGST A/c	Dr		500
	Input SGST A/c			500
	To Bank A/c				11,000

(e)	Sidhu A/c	Dr		1,41,600
	To Sales A/c				1,20,000
	To Output CGST A/c				10,800
	To Output SGST A/c				10,800
	(Being goods sold on credit locally)

(f)	Air Conditioner A/c	Dr		60,000
	Input CGST A/c	Dr		5,400
	Input SGST A/c	Dr		5,400
	To Bank A/c				70,800
	(Being goods purchased locally)

(g)	Cash A/c	Dr		1,77,000
	To Sales A/c				1,50,000
	To Output IGST A/c				27,000
	(Being goods supplied on credit to Uttar Pradesh)

(h)	Motor Cycle A/c	Dr		50,000
	Input CGST A/c	Dr		7,000
	Input SGST A/c	Dr		7,000
	To Bank A/c				64,000
	(Being motorcycle purchased locally for office use)

(i)	Internet Charges A/c	Dr		4,000
	Input CGST A/c	Dr		360
	Input SGST A/c	Dr		360
	To Bank A/c				4,720
	(Being broadband charges paid)

(j)	Purchases A/c	Dr		50,000
	Input CGST A/c	Dr		4,500
	Input SGST A/c	Dr		4,500
	To Rajesh				59,000
	(Being goods purchased on credit locally)

(k)	Purchases A/c	Dr		50,000
	Input CGST A/c	Dr		4,500
	Input SGST A/c	Dr		4,500
	To Rajesh				59,000
	(Being goods purchased on credit locally)

(h)	Output IGST A/c	Dr		54,000
	Output CGST A/c	Dr		12,000
	Output SGST A/c	Dr		12,000
	To Input IGST A/c				12,000
	To Input CGST A/c				33,000
	To Input SGST A/c				33,000
	(Being GST set off and excess of CGST and SGST to be claimed as a refund)

Working Note 1

Particulars	IGST	CGST	SGST
Output	54,000	12,000	12,000
Input	12,000	35,760	35,760
Excess	42,000	-23,760	-23,760
Set off	-42,000	21,000	21,000
Payable	Nil	-2,760( Refund)	-2,760 (Refund)

Free - Previous Years Question Papers

		Rs
(a)	Cash paid for installation of machine	500
(b)	Goods given as charity	2,000
(c)	Interest charge on capital @ 7% p.a. when total capital were	70,000
(d)	Received Rs 1,200 of a bad debts written-off last year.
(e)	Goods destroyed by fire	2,000
(f)	Rent outstanding	1,000
(g)	Interest on drawings	900
(h)	Sudhir Kumar who owed me Rs 3,000 has failed to pay the amount. He pays me a compensation of 45 paise in a rupee.
(i)	Commission received in advance	7,000

2017			Rs
Nov. 01	Business started with	(i) Cash	1,50,000
		(ii) Goods	50,000
Nov. 03	Purchased goods from Harish		30,000
Nov. 05	Sold goods for cash		12,000
Nov. 08	Purchase furniture for cash		5,000
Nov. 10	Cash paid to Harish on account		15,000
Nov. 13	Paid sundry expenses		200
Nov. 15	Cash sales		15,000
Nov. 18	Deposited into bank		5,000
Nov. 20	Drew cash for personal use		1,000
Nov. 22	Cash paid to Harish in full settlement of account		14,700
Nov. 25	Good sold to Nitesh		7,000
Nov. 26	Cartage paid		200
Nov. 27	Rent paid		1,500
Nov. 29	Received cash from Nitesh		6,800
	Discount allowed		200
Nov. 30	Salary paid		3,000

2017		Rs
Jan. 01	Started business with cash	1,65,000
Jan. 02	Opened bank account in PNB	80,000
Jan. 04	Goods purchased from Tara	22,000
Jan.05	Goods purchased for cash	30,000
Jan.08	Goods sold to Naman	12,000
Jan.10	Cash paid to Tara	22,000
Jan.15	Cash received from Naman	11,700
	Discount allowed	300
Jan. 16	Paid wages	200
Jan. 18	Furniture purchased for office use	5,000
Jan. 20	Withdrawn from bank for personal use	4,000
Jan. 22	Issued cheque for rent	3,000
Jan. 23	Goods issued for house hold purpose	2,000
Jan. 24	Drawn cash from bank for office use	6,000
Jan. 26	Commission received	1,000
Jan. 27	Bank charges	200
Jan. 28	Cheque given for insurance premium	3,000
Jan. 29	Paid salary	7,000
Jan. 30	Cash sales	10,000

August, 2017		Rs
1	Commenced business with cash	1,10,000
2	Opened bank account with H.D.F.C.	50,000
3	Purchased furniture	20,000
7	Bought goods for cash from M/s. Rupa Traders	30,000
8	Purchased good from M/s. Hema Traders	42,000
10	Sold goods for cash	30,000
14	Sold goods on credit to M/s. Gupta Traders	12,000
16	Rent paid	4,000
18	Paid trade expenses	1,000
20	Received cash from Gupta Traders	12,000
22	Goods return to Hema Traders	2,000
23	Cash paid to Hema Traders	40,000
25	Bought postage stamps	100
30	Paid salary to Rishabh	4,000

December, 2017		Rs
1	Started business with cash	92,000
2	Deposited into bank	60,000
4	Bought goods on credit from Himani	40,000
6	Purchased goods from cash	20,000
8	Returned goods to Himani	4,000
10	Sold goods for cash	20,000
14	Cheque given to Himani	36,000
17	Goods sold to M/s. Goyal TradeRs	3,50,000
19	Drew cash from bank for personal use	2,000
21	Goyal traders returned goods	3,500
22	Cash deposited into bank	20,000
26	Cheque received from Goyal Traders	31,500
28	Goods given as charity	2,000
29	Rent paid	3,000
30	Salary paid	7,000
31	Office machine purchased for cash	3,000

Dec. 2017		Rs
1	Started business with cash	2,00,000
2	Bought office furniture	30,000
3	Paid into bank to open an current account	1,00,000
5	Purchased a computer and paid by cheque	2,50,000
6	Bought goods on credit from Ritika	60,000
8	Cash sales	30,000
9	Sold goods to Karishna on credit	25,000
12	Cash paid to Mansi on account	30,000
14	Goods returned to Ritika	2,000
15	Stationery purchased for cash	3,000
16	Paid wages	1,000
18	Goods returned by Karishna	2,000
20	Cheque given to Ritika	28,000
22	Cash received from Karishna on account	15,000
24	Insurance premium paid by cheque	4,000
26	Cheque received from Karishna	8,000
28	Rent paid by cheque	3,000
29	Purchased goods on credit from Meena Traders	20,000
30	Cash sales	14,000

January, 2017		Rs
1	Cash in hand	6,000
	Cash at bank	55,000
	Stock of goods	40,000
	Due to Rohan	6,000
	Due from Tarun	10,000
3	Sold goods to Karuna	15,000
4	Cash sales	10,000
6	Goods sold to Heena	5,000
8	Purchased goods from Rupali	30,000
10	Goods returned from Karuna	2,000
14	Cash received from Karuna	13,000
15	Cheque given to Rohan	6,000
16	Cash received from Heena	3,000
20	Cheque received from Tarun	10,000
22	Cheque received from to Heena	2,000
25	Cash given to Rupali	18,000
26	Paid cartage	1,000
27	Paid salary	8,000
28	Cash sale	7,000
29	Cheque given to Rupali	12,000
30	Sanjana took goods for Personal use	4,000
31	Paid General expense	500

Chapter 3 Recording of Transactions I Solutions

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