0I. Journalise the following Transactions – Chapter 4 (Book Examples)
Jan 1, 2004 – Saravanan started the business with Rs. 1,00,000.
Jan 3, 2004 – Received cash from Balan Rs. 25,000
Feb 7, 2004 – Paid cash to Perumal Rs.37,000.
Feb 8, 2004 – Bought goods for cash Rs. 80,000
Mar 10, 2004 – Cash sales Rs.90,000.
Mar 15, 2004 – Sold goods to Jaleel on credit Rs.1,00,000.
Mar 18, 2004 – Purchased goods from James on credit Rs.1,50,000.
Mar 20, 2004 – Returned goods from Jaleel Rs.5,000.
Mar 25, 2004 – Goods returned to James Rs.7,000.
Mar 26, 2004 – Paid salaries in cash Rs.6,000.
Mar 27, 2004 – Paid to Mohan on account Rs 3,000
Apr 14, 2004 – Commission received Rs.5,000.
Apr 15, 2004 – Saravanan withdrew for personal use Rs. 20,000.
Apr 16, 2004 – Drew cash from the bank for office use Rs 10,000
Apr 17, 2004 – Opened a current account with Indian Overseas Bank Rs.10,000.
Apr 18, 2004 – Rent paid by cheque Rs. 5,000.
Apr 19, 2004 – Received cheque from Elavarasan Rs.20,000.
Apr 20, 2004 – Cheque received from Santhosh Rs.30,000 and immediately banked.
Apr 21, 2004 – Paid into bank Rs 5,000.
Jul 15, 2004 – Jamuna who owed us Rs.10,000 is declared insolvent, and 25 paise in a rupee is received from her.
Jan 18, 2005 – Received cash for a Bad debt written off last year Rs.7,500.
Ans:
| Journal | ||||
| Date | Particulars | L.F | Debit | Credit |
| 2004 | Cash A/c Dr. | 1,00,000 |
| |
| To Capital A/c |
| 1,00,000 | ||
| (Amount invested in the business) |
|
|
| |
| 3 | Cash A/c Dr. |
| 25,000 |
|
| To Balan’s A/c |
|
| 25,000 | |
| (Cash received from Balan) |
|
|
| |
| Feb 7 | Perumal A/c Dr. |
| 37,000 |
|
| To Cash A/c |
|
| 37,000 | |
| (Cash paid to perumal) |
|
|
| |
| 8 | Purchase A/c Dr. |
| 80,000 |
|
| To Cash A/c |
|
| 80,000 | |
| (Goods purchased for cash) |
|
|
| |
| Mar 10 | Cash A/c Dr. |
| 90,000 |
|
| To Sales A/c |
|
| 90,000 | |
| (Goods sold for cash) |
|
|
| |
| 15 | Jaleel A/c Dr. |
| 1,00,000 |
|
| To Sales A/c |
|
| 1,00,000 | |
| (Goods sold on credit) |
|
|
| |
| 18 | Purchase A/c Dr. |
| 1,50,000 |
|
| To James A/c |
|
| 1,50,000 | |
| (Goods purchased on credit) |
|
|
| |
| 20 | Sales Return A/c Dr. |
| 5,000 |
|
| To Jaleel A/c |
|
| 5,000 | |
| (Goods returned from jaleel) |
|
|
| |
| 25 | James A/c Dr. |
| 7,000 |
|
| To Purchases Return A/c |
|
| 7,000 | |
| (Goods returned to James) |
|
|
| |
| 26 | Salary A/c Dr. |
| 6,000 |
|
| To Cash A/c |
|
| 6,000 | |
| (Salaries paid) |
|
|
| |
| 27 | Mohan A/c Dr. |
| 3,000 |
|
| To Cash A/c |
|
| 3,000 | |
| (Paid to Mohan) |
|
|
| |
| Apr 14 | Cash A/c Dr. |
| 5,000 |
|
| To Commission A/c |
|
| 5,000 | |
| (Commission received) |
|
|
| |
| 15 | Drawings A/c Dr. |
| 20,000 |
|
| To Cash A/c |
|
| 20,000 | |
| (Amount withdrawn for personal use) |
|
|
| |
| 16 | Cash A/c Dr. |
| 10,000 |
|
| To Bank A/c |
|
| 10,000 | |
| (Amount withdrawn from bank for office use) |
|
|
| |
| 17 | Indian Overseas Bank A/c Dr. |
| 10,000 |
|
| To Cash A/c |
|
| 10,000 | |
| (Open a current Account in IOB) |
|
|
| |
| 18 | Rent A/c Dr. |
| 5,000 |
|
| To Bank A/c |
|
| 5,000 | |
| (Rent paid by cheque#) |
|
|
| |
| *19 | Cash A/c Dr. |
| 20,000 |
|
| To Elavarasan A/c |
|
| 20,000 | |
| (Cheque received but not paid into bank) |
|
|
| |
| *20 | Bank A/c Dr. |
| 30,000 |
|
| To Santhosh A/c |
|
| 30,000 | |
| (Cheque received & immediately banked) |
|
|
| |
| 21 | Bank A/c Dr. |
| 5,000 |
|
| To Cash A/c |
|
| 5,000 | |
| (Cash paid into bank) |
|
|
| |
| July 15 | Cash A/c Dr. |
| 2,500 |
|
| Bad Debts A/c Dr. |
| 7,500 |
| |
| To Jamuna A/c |
|
| 10,000 | |
| (25 paise in a rupee is received on her insolvency) |
|
|
| |
| 2005 Jan 18 | Cash A/c Dr. |
| 7,500 |
|
| To Bad Debts Recovered A/c |
|
| 7,500 | |
| (Bad Debts Recovered) |
|
|
| |
