11th | Journal | Question No. 1 To 4 | Ts Grewal Solution 2022-2023

Question 1:

Pass necessary Journal Entry for the following transactions:

2022		`
April 1	Business started with cash	1,00,000
April 2	Goods purchased for Cash	25,000
April 3	Goods purchased from Pankaj on Credit	18,000
April 5	Goods sold to Naresh on Credit	9,000
April 7	Goods returned to Pankaj	12,000
April 9	Goods returned by Naresh	1,400
April 10	Cash paid to Ajay	6,000
April 12	Commission received	2,700
April 15	Furniture purchased	7,000
April 16	Rent paid to Amit	5,000
April 19	Sold goods to Sumit for cash	6,000
April 24	Cash Sales	7,000
April 30	Cash received from Naresh on Account	5,000
April 30	Salaries Paid	10,000

Answer:

Journal
Date	Particulars		L.F.	Debit `	Credit `
2022
Apr 01	Cash A/c	Dr.		1,00,000
	To Capital A/c				1,00,000
	(Being started business with cash)

Apr 02	Purchases A/c	Dr.		25,000
	To Cash A/c				25,000
	(Being goods purchased)

Apr 03	Purchases A/c	Dr.		18,000
	To Pankaj A/c				18,000
	(Being goods purchased on Credit from Pankaj)

Apr 05	Naresh’s A/c	Dr.		9,000
	To Sales A/c				9,000
	( Being goods sold to Naresh on Credit)

Apr 07	Pankaj’s A/c	Dr.		12,000
	To Purchases return A/c				12,000
	(Being goods returned to Pankaj)

Apr 9	Sales return A/c	Dr.		1,400
	To Naresh’s A/c				1,400
	(Being goods returned by Naresh)

Apr 10	Ajay’s A/c	Dr.		6,000
	To Cash A/c				6,000
	(Being cash paid to Ajay)

Apr 12	Cash A/c	Dr.		2,700
	To Commission Received A/c				2,700
	(Being commission Received)

Apr 15	Furniture A/c	Dr.		7,000
	To Cash A/c				7,000
	(Being purchased furniture)

Apr 16	Rent A/c	Dr.		5,000
	To Cash a/c				5,000
	(Being rent paid to Amit)

Apr 19	Cash A/c	Dr.		6,000
	To sales A/c				6,000
	(Being goods sold to Sumit for cash)

Apr 24	Cash A/c	Dr.		7,000
	To sales A/c				7,000
	(Being goods sold goods for cash)

April 30	Cash A/c Dr. To Naresh’s A/c			5,000	5,000
	(Being cash received from Naresh on Account)

April 30	Salary A/c	Dr.		10,000
	To Cash a/c				10,000
	(Being salary Paid)

Question 2:

Enter the following transactions in the Journal of Ram:

2022		`
June 1	Ram invested capital in Cash	1,00,000
June 3	Purchased goods from Harish	10,000
June 5	Purchased goods for cash	8,000
June 8	Purchased goods from Mohan for cash	7,000
June 10	Sold goods to KaiIash on credit	2,000
June 12	Sold goods to Nadeem for cash	1,500
June 14	Goods returned by Kailash	500
June 16	Goods returned to Harish	360
June 18	Machinery purchased from Sohan	8,000
June 19	Paid to Harish on Account	5,000
June 25	Cash withdrawn for Personal use	5,000
June 30	Old newspapers sold	200
June 30	Received loan from Mohan and deposited in bank	50,000

Answer:

Journal
Date	Particulars		L.F.	Debit `	Credit `
2022
June 1	Cash A/c	Dr.		1,00,000
	To Capital A/c				1,00,000
	( Being Ram invested capital in Cash)

June 3	Purchases A/c	Dr.		10,000
	To Hari’s A/c				10,000
	(Being goods Purchased from Harish)

June 05	Purchases A/c	Dr.		8,000
	To Cash A/c				8,000
	( Being goods Purchased for cash)

June 08	Purchases A/c	Dr.		7,000
	To Cash A/c				7,000
	(Being goods Purchased from Mohan for cash)

June 10	Kailash’s A/c	Dr.		2,000
	To Sales A/c				2,000
	(Being goods Sold to KaiIash on credit)

June 12	Cash A/c	Dr.		1,500
	To Sales A/c				1,500
	(Being goods Sold to Nadeem for cash )

June 14	Sales return A/c	Dr.		500
	To Kailash A/c				500
	(Being Goods returned by Kailash)

June 16	Harish’s A/c	Dr.		360
	To Purchases Return A/c				360
	(Being Goods returned to Harish)

June 18	Machinery A/c	Dr.		8,000
	To Sohan’s A/c				8,000
	(Being Machinery purchased from Sohan)

June 19	Harish’s A/c	Dr.		5,000
	To Cash a/c				5,000
	(Being Paid to Harish on Account)

June 25	Drawings A/c	Dr.		5,000
	To Cash A/c				5,000
	(Being Cash withdrawn for Personal use)

June 30	News Paper A/c	Dr.		200
	To Cash A /c				200
	(Being Old newspapers sold)

June 30	Bank A/c Dr. To Loan from Mohan A/c			50,000	50,000
	(Being Received loan from Mohan and deposited in bank)

Question 3:

Record the following transaction in the Journal of Amitabh:

2022		`
May 01	Amitabh started business with Cash	80,000
May 02	Purchased Furniture from Modern Furniture for Cash	10,000
May 05	Deposited in Bank	30,000
May 06	Purchased goods for cash	5,000
May 08	Purchased goods on credit from Hari	4,500
May 10	Purchased goods from Suresh for cash	3,000
May 12	Purchased goods from Ajay	4,000
May 14	Sold goods for cash	7,000
May 15	Sold goods to Karim	6,500
May 16	Sold goods to Ganesh for cash	5,000
May 18	Sold goods to Bansi	3,500
May 19	Withdrew from bank for office use	5,000
May 20	Karim paid on account	5,000
May 29	Paid rent for residence	6,000
May 30	Purchased a cycle for his son	3,000
May 30	Paid to Ajay in settlement of his account	3,800

Answer:

Journal
Date	Particulars		L.F.	Debit `	Credit `
2022
May 1	Cash A/c	Dr.		80,000
	To Capital A/c				80,000
	( Being Amitabh invested capital in Cash)

May 2	Furniture A/c	Dr.		10,000
	To Cash A/c				10,000
	(Being goods Purchased from Harish)

May 5	Bank A/c	Dr.		30,000
	To Cash A/c				30,000
	( Being deposited in Bank)

May 6	Purchases A/c	Dr.		5,000
	To Cash A/c				5,000
	(Being goods Purchased from Mohan for cash)

May 8	Purchases A/c	Dr.		4,500
	To Hari’s A/c				4,500
	(Being goods purchased form Hari on credit)

May 10	Purchases A/c	Dr.		3,000
	To Cash’s A/c				3,000
	(Being goods purchased for cash)

May 12	Purchases A/c	Dr.		4,000
	To Ajay’s A/c				4,000
	(Being goods purchased on credit )

May 14	Cash A/c	Dr.		7,0000
	To Sales A/c				7,000
	(Being goods sold for cash )

May 15	Karim’s A/c	Dr.		6,500
	To Sales A/c				6,500
	(Being goods sold to karim on credit)

May 16	Cash A/c	Dr.		5,000
	To Sales A/c				5,000
	(Being goods sold for cash)

May 18	Bansi’s A/c	Dr.		3,500
	To Sales A/c				3,500
	(Being goods sold to Bansi on credit)

May 19	Cash A/c	Dr.		5,000
	To Bank A/c				5,000
	(Being cash withdrawal from bank)

May 20	Cash A/c Dr. To Karim’s A/c			5,000	5,000
	(Being cash received from karim)
May 29	Drawings A/c	Dr.		6,000
	To Cash A/c				6,000
	(Being drawings were made)
May 30	Drawings A/c	Dr.		3,000
	To Cash A/c				3,000
	(Being drawings were made)
May 30	Ajay’s A/c	Dr.		3,800
	Discount allowed A/c	Dr.		200
	To Cash A/c				4,000
	(Being cash paid and discount allowed)

Compound Journal Entries

Question 4:

Pass necessary Journal entries for the following transactions:

2022
April 5	Paid salaries ` 30,000, rent ` 10,000 and wages ` 8,000 by cheque.
April 7	Purchased goods from Hari for ` 30,000 at 10% trade discount and 2% cash discount. Payment was made immediately.
April 15	Paid to Raju `5,000 in cash and ` 7,000 by cheque.
April 18	Goods sold to Roma for `5,000 at 20% Trade discount and 3% Cash discount. HaIf of the payment was received immediately
April 20	Goods sold to Ramesh for `8,000. He paid `5,000 by cheque immediately
April 25	Additional capital introduced as: cash `10,000; and Delivery Van (Personal asset) of `50,000.
April 26	Cash paid to Anil `975. Discount received `25.
April 30	Paid to Raju `1,000 in cash and `2,000 by cheque.
April 30	Paid `4,800 to Mohan In settlement of his account for `5 000.

Answer:

Journal
Date	Particulars		L.F.	Debit `	Credit `
2022
Apr 05	Salary A/c	Dr.		30,000
	Rent A/c Wages A/c To Bank A/c	Dr. Dr.		10,000 8,000	48,000
	(Being Paid salaries ` 30,000, rent ` 10,000 and wages ` 8,000 by cheque.)

Apr 07	Purchases A/c	Dr.		27,000
	To Cash A/c To Hari’s A/c To Discount Received A/c				13,500 13,095 405
	(Being Purchased goods from Hari for ` 30,000 at 10% trade discount and 2% cash discount. Payment was made immediately)

Apr 15	Raju’s A/c	Dr.		12,000
	To Cash A/c To Bank A/c				5,000 7,000
	(Being paid to Raju `5,000 in cash and ` 7,000 by cheque.)

Apr 18	Roma’s A/c	Dr.		2,000
	Cash’s A/c Discount allowed a/c To Sales A/c	Dr. Dr.		1,940 60	4,000
	(Being Goods sold to Roma for `5,000 at 20% Trade discount and 3% Cash discount. Half of the payment was received immediately)

Apr 20	Rajesh’s A/c	Dr.		5,000
	Chaque in hand A/c To Sales A/c	Dr.		3,000	8,000
	(Being Goods sold to Ramesh for `8,000. He paid `5,000 by cheque immediately)

Apr 25	Cash A/c Delivery Van A/c	Dr. Dr.		10,000 50,000
	To Capital A/c				60,000
	(Being Additional capital introduced as: cash `10,000; and Delivery Van (Personal asset) of `50,000.)

Apr 26	Anil’s A/c	Dr.		1,000
	To Cash A/c To Discount received A/c				975 25
	(Being Cash paid to Anil `975. Discount received `25.)

Apr 30	Raju’s A/c	Dr.		3,000
	To Cash A/c To Bank A/c				1,000 2,000
	(Being Paid to Raju `1,000 in cash and `2,000 by cheque.)

Apr 30	Mohan’s A/c	Dr.		5,000
	To Cash A/c To Discount received A/c				4,800 200
	(Being Paid `4,800 to Mohan In settlement of his account for `5 000.)