Transactions
Relating to Fixed Assets
Question 9:
Pass necessary Journal entries for the following transactions:
|
2025 |
` |
|
April 1: Paid repairing charges
on existing machineries. |
1,000 |
|
April 2: Purchased a new
machinery. |
42,500 |
|
April 3: Paid freight and carriage
on machinery. |
2,500 |
|
April 4: Paid installation
charges on machinery. |
5,000 |
|
April 5: Purchased a
second-hand machinery. |
18,000 |
|
April 6: Paid repairing charges
on above machinery. |
2,500 |
Answer:
|
Journal |
|||||
|
Date |
Particulars |
L.F. |
Debit ` |
Credit ` |
|
|
2025 |
Repairing
A/c |
Dr. |
|
1,000 |
|
|
Apr 01 |
To Cash A/c (Being
Paid repairing charges on existing machineries.) |
|
|
|
1,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Apr 02 |
Machinery A/c |
Dr. |
|
42,500 |
|
|
|
To Cash A/c |
|
|
|
42,500 |
|
|
(Being
Purchased a new machinery.) |
|
|
|
|
|
|
|
|
|
|
|
|
Apr 03 |
Machinery A/c |
Dr. |
|
2,500 |
|
|
|
To Cash A/c |
|
|
|
2,500 |
|
|
(Being
Paid freight and carriage on machinery.) |
|
|
|
|
|
|
|
|
|
|
|
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Apr 04 |
Machinery A/c |
Dr. |
|
5,000 |
|
|
|
To Cash A/c |
|
|
|
5,000 |
|
|
(Being
Paid installation charges on machinery.) |
|
|
|
|
|
Apr 05 |
Machinery A/c |
Dr. |
|
18,000 |
|
|
|
To Cash A/c |
|
|
|
18,000 |
|
|
(BeingPurchased a second-hand
machinery.) |
|
|
|
|
|
Apr 06 |
Machinery A/c |
Dr. |
|
2,500 |
|
|
|
To Cash A/c |
|
|
|
2,500 |
|
|
(Being
Paid repairing charges on above machinery.) |
|
|
|
|
Question 10:
Journalise
the following transactions in the books of Mahesh:
(i)
Received `5,850 from Mukesh in settlement of his account for `6,000.
(ii)
Received `5,850 from Gaurav on account against the dues of `6,000.
(iüi)
Received first and final dividend of 60 paise in the rupee from the official
receiver of Hari who owed `6,000.
(iv)
Paid `2,880 to Mohan in settlement of his account for `3,000.
(v)
Paid `2,880 to Brij on his account for `3,000.
Answer:
|
Journal |
|||||
|
Date |
Particulars |
L.F. |
Debit ` |
Credit ` |
|
|
(i) |
Cash
A/c |
Dr. |
5,850 |
||
|
Discount
Allowed A/c |
Dr. |
|
150 |
|
|
|
|
To Mukesh |
|
|
|
6,000 |
|
|
(Being
received from Mukesh in settlement of his account) |
|
|
|
|
|
(ii) |
Cash
A/c |
Dr. |
|
5,850 |
|
|
|
To Gaurav
|
|
|
|
5,850 |
|
|
(Being
received from Gaurav on account against the dues) |
|
|
|
|
|
(iii) |
Cash
A/c |
Dr. |
|
3,600 |
|
|
Bad
Debts A/c |
Dr. |
|
2,400 |
|
|
|
|
To Hari |
|
|
|
6,000 |
|
|
(Being
Received first and final dividend of 60 paisa in the rupee from the official
receiver of Hari who owed `6,000.) |
|
|
|
|
|
(iv) |
Mohan
|
Dr. |
|
3,000 |
|
|
To Cash A/c |
|
|
|
2,880 |
|
|
|
To Discount Received A/c |
|
|
|
120 |
|
|
(Being Paid
to Mohan in settlement of his account) |
|
|
|
|
|
(v) |
Brij |
Dr. |
|
2,880 |
|
|
|
To Cash A/c |
|
|
|
2,880 |
|
|
(Being paid
on his account) |
|
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Ts Grewal Solution 2025-2026
Class 11th