Question 15:
Pass Journal entries for the following transactions:
(a) Sanjiv started business with cash `5,00,000.
(b) Opened a bank account depositing `3,00,000.
(c) Invested in shares (personal) for `50,000, paid
out of Saving Account.
(d) Bought goods (timber) for `3,00,000, paid
half by cash and half by cheque.
(e) Paid carriage for unloading the timber `5,000.
(f) Bank charges `2,000.
(g) Goods of `15,000 were
used to make furniture and wages paid `5,000.
(h) Dividend collected by bank `5,000 wrongly
credited in firm's account.
(i) Tejvir sold
his personal scooter for `35,000 and deposited the amount
in firm's bank account.
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. |
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5,00,000 |
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To Capital A/c |
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5,00,000 |
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(Being ) Sanjiv started business with capital in Cash) |
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(b) |
Bank A/c |
Dr. |
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3,00,000 |
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To Cash A/c |
3,00,000 |
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(Being a bank account Opened depositing)
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(c) |
It is not a business transaction will not be recorded on
in the books of firm |
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(d) |
Purchases A/c |
Dr. |
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3,00,000 |
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To Bank A/c |
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1,50,000 |
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To Cash A/c |
1,50,000 |
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(Being goods
(timber) Bought for `3,00,000, paid half by cash and
half by cheque)
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(e) |
Carriage Inward A/c |
Dr. |
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5,000 |
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To Cash A/c |
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5,000 |
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(Being
carriage paid for unloading the timber)
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(f) |
Bank Charged A/c |
Dr. |
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2,000 |
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To Bank A/c |
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2,000 |
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(Being
carriage paid for unloading the timber)
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(g) |
Furniture A/c |
Dr. |
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20,000 |
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To Cash A/c |
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5,000 |
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To Purchases A/c |
15,000 |
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(Being Goods of
`15,000 were used to make
furniture and wages paid `5,000.)
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Bank A/c |
Dr. |
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5,000 |
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(h) |
To Capital
A/c |
5,000 |
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(Being capital contributed) |
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(i) |
Cash A/c |
Dr. |
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35,000 |
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To Capital
A/c |
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35,000 |
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(Being capital contributed) |
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Question 16:
Pass Journal
entries for the following transactions:
(a) Surekha
started business with cash `5,00,000.
(b) Bought
goods from Goyalson's for `3,00,000, paid half by cash.
(c) Sold goods
to Sonika for `1,00,000, received `60,000
immediately.
(d) 10% of the
goods returned by Sonika being defective.
(e) Paid to
Goyalson's `1,49,000 in full settlement.
(f) Amount due
from Sonika is not receivable.
(g) Paid rent `15,000, 2/3rd
of the premises is occupied for own use.
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. |
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5,00,000 |
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To Capital A/c |
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5,00,000 |
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(Being Surekha started business
with capital in Cash)
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(b) |
Purchases A/c |
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3,00,000 |
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To Goyalson's
A/c |
Dr. |
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1,50,000 |
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To Cash A/c |
1,50,000 |
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(Being goods
bought from Goyalson's for `3,00,000, paid half by cash.)
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(c) |
Sonika’s A/c |
Dr. |
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40,000 |
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Cash A/c |
Dr. |
60,000 |
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To Sales A/c |
1,00,000 |
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(Being goods sold
to Sonika for `1,00,000,
received `60,000
immediately.) |
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(d) |
Sales Return A/c |
Dr. |
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10,000 |
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To Sonika’s A/c |
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10,000 |
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(Being 10% of
the goods returned by Sonika being defective.)
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(e) |
Goyalson's A/c |
Dr. |
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1,50,000 |
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To Cash A/c |
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1,49,000 |
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To Discount Received A/c |
1,000 |
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(Being Cash
paid to Goyalson's `1,49,000 in full settlement.)
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(f) |
Bad Debts A/c |
Dr. |
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30,000 |
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To Sonika’s A/c |
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30,000 |
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(Being Amount
due from Sonika is not receivable.)
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(g) |
Drawing A/c |
Dr. |
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10,000 |
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Rent A/c |
Dr. |
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5,000 |
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To Cash A/c |
15,000
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(Being rent paid `15,000, 2/3rd of the premises is occupied for own
use.)
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Ts Grewal Solution 2025-2026
Class 11th