8.Journal

Q1. Journalise the following transactions in the books of Ram:

Solution –                                         JOURNAL

Q2. Enter the following transactions in the journal of Ram:

Solution:                               Ram Journal

Q3. Record the following transactions in the Journal of Amitabh:

Solution –                                Amithabh Journal

Compound Journal Entries:-

Q4. Pass necessary Journal entries for the following transaction:

Solution –                Compound Journal Entries

Bad debts and Bad Debts Recovered:-

Q5. Pass Journal entries for the following transaction:

Solution –                                   Journal Entries

Banking Transactions:-

Q6. Pass necessary Journal entries for the following Transactions:

Solution –                           Journal Entries

Q7. Pass necessary Journal entries for the following transactions:

Solution –                                          Journal Entries

Transaction Relating to Goods:-

Q8. Pass necessary Journal entries for the following transaction:

Solution –                      Journal Entries

Transactions Relating to Fixed Assets:-

Q9. Pass Journal entries for the following transactions:

Solution –                                  Journal Entries

Transaction Relating to payments on Account and Payment in settlement:-

Q10. Journalise the following transactions in the books of Mahes:

• Received Rs.5,850 from Mukesh in settlement of his account for Rs.6,000.
• Received Rs.5,850 from Gaurav on account against the dues of Rs.6,000.
• Received first and final dividend of 60 paise in the rupee from the official receiver of Hari who owed Rs.6,000.
• Paid Rs.2,880 to Mohan is settlement of his account for Rs.3,000.
• Paid Rs.2,880 to Brij on his account for Rs.3,000.

Adjustment Entries:-

Q11.Pass Journal entries for the following adjustment on 31^st March, 2025:

1. Interest due but not received 10,000.
2. Salaries due to staff 50,000.
3. Out of the rent paid this year, 5,000 are for the next year.
4. Provide 10% depreciation on Furniture costing 1, 00,000.
5. Goods used in making Furniture (Sales Price 5,000 cost 4,000).
6. Received commission of 20,000 by cheque, half of which is in advance.
7. Allow interest on capital 8,000.
8. Charge interest on Drawings 1,500

Solution –                                   Journal Entries

Q12. Following balances existed in the books of M/s. Anand Stores as on 1^st April, 2025:

Assets    :  Cash 60,000, Bank 40,000, Stock 1, 50,000, Furniture 43,000, Debtors 1, 45,000, (X 35,000, Y 50,000, Z 60,000).

Liabilities   : Loan from Vikas 60,000, Creditors 52,500 (A 22,500, B 30,000).

Pass necessary Journal entry to record the above balances.

Solution –   In book of Anand store

                                            Journal Entries 1st April 2025

Miscellaneous:-

13. Pass journal entries for the following transactions:

1. Pankaj started business with cash 2,00,000 and Bank 8,00,000.
2. Bought a machinery for 25,00,000 by a down-payment of 10%.
3. Paid 48,000 as wages for installation of machine.
4. Bought goods from Chhabra bros. 3,00,000.
5. Withdrawn from bank 50,000.
6. Repaid bank loan 35,000 including interest of 3,000.
7. Sold goods to Samuel 40,000.
8. Received form Samuel 39,750 discount allowed 250.
9. Paid rent of 37,500 by cheque.
10. Provide depreciation on machinery at 15% per annum.

Solution:                                                    Journal

14.  Pass journal entries for the following transactions:

1. Vijay started business with cash 3,00,000; Bank deposit of 40,00,000 and furniture 4,00,000.
2. Bought goods from Bhushan Treaders 30,00,000 against cheque of 15,00,000, balance to be paid later.
3. Returned goods of 1,20,000 to Bhushan Traders.
4. Sold goods to Pawan 4,00,000.
5. Paid to Bhushan Traders 1,50,000 and cash discount received 2%.
6. Goods returned by Pawan 80,000.
7. Sold goods for cash 1,20,000.
8. Goods given as samples 20,000.
9. Paid income tax of 37,500.
10. Goods taken by Vijay for household use 10,000.

Solution:                                             Journal

15. Pass journal entries for the following transactions:

1. Sanjiv started business with cash 5,00,000.
2. Opened a bank account depositing 3,00,000.
3. Invested in shares (personal) for 50,000, paid out of saving Account.
4. Bought goods (timber) for 3,00,000, paid half by cash and half by cheque.
5. Paid carriage for unloading the timber 5,000.
6. Bank charges 2,000.
7. Goods of 15,000 were used to make furniture and wages paid 5,000.
8. Dividend collected by bank 5,000 wrongly credited in firm’s account.
9. Sanjiv sold his personal sector for 35,000 and deposited the amount in firm’s bank account.

Solution:                                                         Journal

16. Pass journal entries for the following transactions:

1. Surekha started business with cash 5,00,000.
2. Bought goods form Goyalson’s for 3,00,000, paid half by cash.
3. Sold goods to Sonika for 1,00,000, received 60,000 immediately.
4. 10% of the goods returned by Sonika being defective.
5. Paid to Goyalson’s 1,49,000 in full settlement.
6. Amount due from Sonika is not receivable.
7. Paid rent 15,000, 2/3rd of the premises is occupied for own use.

Solution:                                                         Journal

17. Pass journal entries for the following transactions;

1. Muskaan started business with cash 3,00,000, stock 5,00,000 and building 25,00,000.
2. Construction of power-back room 1,00,000.
3. Paid insurance premium for stock 15,000 and self 7,000.
4. Goods destroyed by fire 80,000, insurance claim lodged.
5. Commission received 25,000, 20% being received in advance.
6. Insurance company paid 80% in full and final settlement.
7. Salaries paid 48,000 and due 22,000.
8. Provide Depreciation on Building @ 10% per annum.

Q18. Following transactions of Ramesh for April, 2025 are given below. Journalise them.

Solution –                            

  Journal Entries

Q19. Journalise the following transactions of Gurman:

Solution –                                 Journal Entries

Q20. Journalise the following transactions of Singh Enterprises, Delhi:

Solution –                                Journal Entities

Q21. Journalise the following transactions of Rakesh Agencies, Delhi (Proprietor Shri Rakesh):

Q22. Enter the following transactions in Journal of Suresh, Delhi who trades in readymade garment:

Solution –                   Journal Entries

Q23. Journalise the following transactions in the books of M/s. R.K. & Co.:

1. Purchased goods of list price of 20,000 from Vishal at 20% trade discount against cheque payment.
2. Purchased goods of list price of 20,000 from Naman at 15% trade discount against cash.
3. Purchased goods of list price of 30,000 from Amrit at 20% trade discount.
4. Purchased goods from Hari & Co. of list price 40,000 for 35,000 against cash.
5. Goods purchased from Amrit of list price 10,000 returned.
6. Sold goods to Parul of list price of 40,000 at 10% trade discount against cheque payment
7. Sold Goods to Aman of list price of 30,000 at 10% Trade discount against cash.
8. Sold goods to Pawan of list price of 20,000 at 10% trade discount.
9. Sold goods to Yamini of list price of 25,000 for 23,000.
10. Sold goods costing 10,000 at cost plus 20% less 10% trade discount to Bhupesh.
11. Sold goods purchased at list price of 50,000 sold at a profit of 25% less 10% trade discount against cheque.
12. Aman returned goods of list price of 10,000 sold to him at 10% trade discount.

Solution –                                Journal Entries

Q24. Journalise the following transaction in the books of Bhushan Agencies:

1. Received cash from Bharat 20,000, allowed him discount of 500.
2. Received from Vikas 35,000 by cheque, allowed him discount 750.
3. Received cash from Akhil 38,000 in settlement of his dues of 40,000.
4. Received from Amrit 50,000 by cheque on account against dues of 60,000.
5. Paid cash 39,200 to Suresh in settlement of his dues, availed discount of 2%
6. Paid by cheque 25,000 to Mehar in settlement of her dues of 26,000
7. Paid 25,000 to Yogesh by cheque on account.
8. Purchased goods costing 1,00,000 against cheque and availed discount of 3%
9. Purchased goods costing 60,000 from Akash & Co., paid 50% immediately availing 3% discount.
10. Sold goods of 30,000 against cheque allowing 2% discount.
11. Sold goods of 60,000 to Vimal received 50% of due amount allowing 2% discount.
12. Mittal Bros. purchased 100 shawls @ 3,000 per shawl. Allowed 10% trade discount and 3% Cash Discount if payment is made within 14 days. Mittal Bros. received 10 shawls of poor quality, which it returned. Mittal Bros. settled the payment in 10 days.
13. Sold to Gupta Shawls, 100 shawls @ 200 per shawl on 4^th January, 2025. Trade discount 25% and cash discount 5% if full payment is made within 14 days. Gupta shawls sent 50% of the payment on 14^th January, 2024 and balance payment on 10^th February, 2025.

Solution –                    Journal Entries

Q25. Journalise the following transactions:

1. Shyam became insolvent. Compensation of 75 paise in a rupee was received from his Official Receiver. He owed us 10,000
2. Received cash from Ramesh whose account was written off last year as bad debt 5,000
3. Rent due to landlord 8,000
4. Salaries due to staff 10,000
5. Placed an order with Rakesh for supply of goods of the list price of 1, 00,000. In this connection, Raman paid 10% of the list price as an advance by cheque.
6. Supplied goods costing 3,600 to Sanjay. Issued invoice at 20% above cost less 10% Trade Discount.
7. Paid Rs.1,000 cash to Radhey for Outstanding bill for printing.

Solution –          Journal Entries

Q26. Journalise the following entries:

1. Goods costing 500 given as charity.
2. Sold goods to Mayank of 1,00,000, payable 25% by cheque at the time of sale and balance after 30 days of sale.
3. Received 975 from Harikrishna in settlement of his account of 1,000.
4. Charge interest on Drawings 1,500.
5. Sold goods to Anil costing 40,000 for cash at a profit of 25% on cost less 20% trade discount.
6. Paid cartage of 100 for delivery of goods.
7. Paid income tax 15,000.

Solution –                            Journal Entries