Question 17:
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)
Construction of power-back room `1,00,000.
(c) Paid
insurance premium for stock `15,000 and self `7,000.
(d) Goods
destroyed by fire `80,000, Insurance Claim lodged.
(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.
(h) Provide Depreciation
on Building @ 10% per annum.
Answer:
|
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 |
|
|
|
28,00,000 |
|
|
(Being Muskaan started business with Cash `3,00,000, Stock `5,00,000 and building `25,00,000.) |
|
|
|
|
|
|
(b) |
|
|
|
||
|
Building A/c |
Dr. |
|
1,00,000 |
||
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To Cash A/c |
1,00,000 |
||||
(Being
Construction of power-back room `1,00,000.)
|
|
||||
|
(c) |
Insurance Premium A/c |
Dr. |
|
15,000 |
|
|
Drawing A/c |
Dr. |
7,000 |
|||
|
To Sales A/c |
22,000 |
||||
|
(Being insurance premium paid for stock `15,000
and self `7,000.) |
|||||
|
(d)
A. |
Loss by fire A/c |
Dr. |
|
80,000 |
|
|
To Purchases A/c |
|
|
|
80,000 |
|
(Being Goods destroyed by fire `80,000,)
|
|
|
|
|
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|
B. |
Insurance co.
A/c |
Dr. |
|
80,000 |
|
|
To Loss by
fire A/c |
|
|
|
80,000 |
|
(Being
Insurance Claim lodged.)
|
|
|
|
|
|
|
(e)
a |
Cash A/c |
Dr. |
|
25,000 |
|
|
To Commission received A/c |
|
|
|
25,000 |
|
(Being
Commission received `25,000, 20% being received in
advance)
|
|
|
|
|
|
|
b |
Commission
received A/c
|
25,000 |
|||
To Profit and Loss A/c
|
20,000 |
||||
To Unearned Commission A/c
|
5,000 |
||||
(Being
Commission received transferred to `25,000, 20% being received in
advance)
|
|||||
|
(f) |
Bank A/c |
Dr. |
|
64,000 |
|
|
Profit and loss A/c |
Dr. |
|
16,000 |
||
|
To Insurance co. A/c |
80,000
|
||||
|
|
(Being
Insurance company paid 80% in full and final settlement.)
|
|
|
|
|
|
(g) |
Salary A/c
|
Dr. |
|
70,000 |
|
|
|
To Outstanding Salary A/c
|
|
|
|
48,000 |
|
|
To Cash A/c
|
|
|
|
22,000 |
|
|
(Being
Salaries paid `48,000 and due `22,000.)
|
|
|
|
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|
(h) |
Depreciation A/c |
Dr. |
|
2,50,000 |
|
|
|
To Machinery
A/c |
|
|
|
2,50,000 |
|
|
(Being depreciation provide on machinery at 10% per annum
) |
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Question 18:
Following transactions of Ramesh for April, 2025 are given below. Journalise them.
|
2025 |
` |
|
April 1: Ramesh started
business with cash. |
1,00,000 |
|
April 2: Paid into bank . |
20,000 |
|
April 3: Bought goods for cash.
|
50,000 |
|
April 4: Drew cash from bank
for office use. |
10,000 |
|
April 13: Sold goods to
Krishna. |
15,000 |
|
April 20: Bought goods from
Shyam. |
22,500 |
|
April 22: |Krishna returned
goods, |
2,000 |
|
April 24: Received from Krishna
. |
12,500 |
|
Allowed him discount. |
500 |
|
April 28: Paid cash to Shyam. |
21,500 |
|
Discount received. |
1,000 |
|
April 30: Sold for Cash to
Mohan, Rakesh and Maynak. |
80,000 |
|
April 30: Paid rent. |
5,000 |
|
April 30: Paid salary. |
10,000 |
Answer:
|
Journal |
|||||
|
Date |
Particulars |
L.F. |
Debit ` |
Credit ` |
|
|
2025 |
|
|
|
|
|
|
April 01 |
Cash
A/c |
Dr. |
|
1,00,000 |
|
|
|
To Capital A/c |
|
|
|
1,00,000 |
|
|
(Started
business with cash) |
|
|
|
|
|
|
|
|
|
|
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|
April 02 |
Bank
A/c |
Dr. |
|
20,000 |
|
|
|
To Cash A/c |
|
|
|
20,000 |
|
|
(Cash
paid into bank) |
|
|
|
|
|
|
|
|
|
|
|
|
April 03 |
Purchases
A/c |
Dr. |
|
50,000 |
|
|
|
To Cash A/c |
|
|
|
50,000 |
|
|
(Goods
purchased) |
|
|
|
|
|
|
|
|
|
|
|
|
April 04 |
Cash
A/c |
Dr. |
|
10,000 |
|
|
|
To Bank A/c |
|
|
|
10,000 |
|
|
(Cash
withdrawn from Bank) |
|
|
|
|
|
|
|
|
|
|
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|
April 13 |
Krishna’s
A/c |
Dr. |
|
15000 |
|
|
|
To Sales A/c |
|
|
|
15000 |
|
|
(Goods
sold) |
|
|
|
|
|
|
|
|
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|
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|
April 20 |
Purchases
A/c |
Dr. |
|
22500 |
|
|
|
To Shyam’s A/c |
|
|
|
5,600 |
|
|
(Goods
purchased) |
|
|
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April 22 |
Sales
Return A/c |
Dr. |
|
2,000 |
|
|
|
To Krishna’s A/c |
|
|
|
2,000 |
|
|
(Goods
returned ) |
|
|
|
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|
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|
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April 24 |
Cash
A/c |
Dr. |
|
12500 |
|
|
|
Discount
Allowed A/c |
Dr. |
|
500 |
|
|
|
To Krishna’s A/c |
|
|
|
13,000 |
|
|
(Received
from Krishna and availed discount) |
|
|
|
|
|
|
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|
April 28 |
Shyam’s
A/c |
Dr. |
|
21,500 |
|
|
|
To Bank A/c |
|
|
1,000 |
|
|
|
To Discount Received A/c |
|
|
|
22,500 |
|
|
(Paid
to shyam and received discount) |
|
|
|
|
|
April 30 |
Cash
A/c |
Dr. |
|
80,000 |
|
|
|
To Sales A/c |
|
|
|
80,000 |
|
|
(Goods
Sold) |
|
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April 30 |
Rent
A/c Salaries
A/c |
Dr. Dr. |
|
5,000 10,000 |
|
|
|
To Cash A/c |
|
|
|
15,000 |
|
|
(Paid
Rent and Salaries) |
|
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Ts Grewal Solution 2025-2026
Class 11th