Miscellaneous
Question
13: Pass Journal entries for the following
transactions:
(a) Pankaj started business with
cash `2,00,000 and Bank `8,00,000.
(b) Bought a machinery for `25,00,000 by
making a down-payment 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(e) Withdrawn from bank `50,000.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.
Answer:
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Journal |
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Date |
Particulars |
L.F. |
Debit ` |
Credit ` |
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|
(a) |
Cash A/c |
Dr. |
|
2,00,000 |
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|
Bank A/c |
Dr. |
8,00,000 |
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To Capital A/c |
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10,00,000 |
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(Being Pankaj started business with capital in Cash and Bank) |
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(b) |
Machinery A/c |
Dr. |
|
25,00,000 |
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To Cash A/c |
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|
2,50,000 |
||
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To Bank Loan A/c |
22,50,000 |
||||
|
(Being a machinery
Bought for `25,00,000 by making a down-payment of 10%) |
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(c) |
Machinery A/c |
Dr. |
|
48,000 |
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To Cash A/c |
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|
30,000 |
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(Being wages Paid for installation of machine) |
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(d) |
Purchases A/c |
Dr. |
|
3,00,000 |
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To Chhabra Bros.’s A/c |
|
|
|
3,00,000 |
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|
(Being goods
Purchased from Chhabra Bros. on credit) |
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(e) |
Cash A/c |
Dr. |
|
50,000 |
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To Bank A/c |
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|
50,000 |
||
|
(Being cash withdrawn
from bank) |
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(f) |
Bank Loan A/c |
Dr. |
|
32,000 |
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Bank Interest A/c |
Dr. |
3,000 |
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To Bank A/c |
|
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|
35,000 |
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(Being bank loan repaid including interest) |
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(g) |
Samuel’s A/c |
Dr. |
|
40,000 |
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To Sales A/c |
|
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|
40,000 |
|
|
(Being goods Sold
to Samuel on credit) |
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(h) |
Cash A/c |
Dr. |
|
39,750 |
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Discount Allowed A/c |
Dr. |
|
250 |
||
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To Samuel’s
A/c |
40,000 |
||||
|
(Being goods sold for cash) |
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(i) |
Rent A/c |
Dr. |
|
37,500 |
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To Bank A/c |
|
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|
37,500 |
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(Being rent paid ) |
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(j) |
Depreciation A/c |
Dr. |
|
3,75,000 |
|
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To Machinery
A/c |
|
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|
3,75,000 |
|
|
(Being depreciation provide on machinery at 15% per
annum ) |
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Question 14:
Pass Journal entries for the following transactions:
(a) Vijay
started business with cash `3,00,000; Bank deposit of `40,00,000 and
furniture `4,00,000.
(6) Bought goods from Bhushan Traders 30,00,000
against cheque of `15,00,000, balance to be paid
later.
(c) Returned goods of `1,20,000 to
Bhushan Traders.
(a) 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 Vijay for household use `10,000.
Answer:
|
Journal |
|
|||||||||||
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Date |
Particulars |
L.F. |
Debit ` |
Credit ` |
|
|||||||
|
(a) |
Cash A/c |
Dr. |
|
3,00,000 |
|
|
||||||
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Bank A/c |
Dr. |
40,00,000 |
|
|||||||||
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Furniture
A/c |
Dr. |
4,00,000 |
|
|||||||||
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To
Capital A/c |
|
|
|
47,00,000 |
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|||||||
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(Being Vijay started business
with capital in Cash and Bank) |
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|||||||
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(b) |
Purchases
A/c |
Dr. |
|
30,00,000 |
|
|||||||
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To Bhushan Trader’s A/c |
|
|
15,00,000 |
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||||||||
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To bank A/c |
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|||||||||||
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(Being goods Purchased from Bhushan Trader on credit) |
|
15,00,000 |
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(c) |
Bhushan
Trader’s |
Dr. |
|
1,20,000 |
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To Purchases Return A/c |
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1,20,000 |
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(Being
goods Returned to Bhushan Traders) |
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(d) |
Pawan’s A/c |
Dr. |
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4,00,000 |
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To Sales A/c |
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|
4,00,000 |
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(Being goods Sold to Pawan on credit)
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(e) |
Bhushan
Trader’s A/c |
Dr. |
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1,50,000 |
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To
Cash A/c |
|
|
1,47,000 |
|
||||||||
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To Cash Discount A/c |
3,000 |
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||||||||||
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(Being Paid
to Bhushan Traders and cash discount received 2%.) |
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(f) |
Sales
Return A/c |
Dr. |
|
80,000 |
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To Pawan |
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|
80,000 |
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(Being goods returned by Pawan)
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(g) |
Cash A/c |
Dr. |
|
1,20,000 |
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To
Sales A/c |
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|
1,20,000 |
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(Being Sold goods for cash)
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(h) |
Sample A/c |
Dr. |
|
20,000 |
|||||||
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To
Purchases A/c |
20,000 |
||||||||||
|
(Being goods
given as samples) |
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|
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|||||||
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(i) |
Drawing A/c |
Dr. |
|
37,500 |
|
||||||
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To
Bank A/c |
|
|
|
37,500 |
|||||||
|
(Being
income tax paid) |
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(j) |
Drawing A/c A/c |
Dr. |
|
10,000 |
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To Purchases A/c |
|
|
|
10,000 |
|||||||
|
(Being Goods
taken by Vijay for household use ) |
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Ts Grewal Solution 2025-2026
Class 11th