Question 13 Marks
From the following transactions write the journal proper in the books of Shri Atul Awasthi.
$(1)$ Brought goods of $₹ 10,000$ and machinery of $₹ 25,000$ to start the business.
$(2)$ Cellular phone of $₹ 20,000$ purchased for business from Kabir Stores.
$(3)$
$₹ 500$ is payable to Rohit for interest.
$(4)$ Goods of $₹ 12,000$ were stolen away from the shop, for which the insurance company accepted a claim of $75 \%$ of the amount.
$(5)$ Paid $₹ 800$ for bill of family doctor, which debited to sundry expense.
$(6)$ Rent received of $₹ 4000$. Pass the entry to close the account.
View full question & answer→Question 23 Marks
Shri Mahesh Bhatt does not maintain separate subsidiary books for transactions of bill receivable, bill payable and goods return. So, record the following transactions in the journal proper of his book.
$( 1)$ Drew a bill of $₹ 5000$ on Mukesh which he accepted and returned.
$( 2)$ Accepted a bill of ₹ 7000 drawn by Vinod and returned to him.
$( 3)$ Goods of $₹ 2000$ returned to Suresh.
$( 4)$ Bills receivable of Mukesh endorsed to Durgesh.
$( 5)$ Goods of $₹ 3000$ returned by Ashwin to us.
$( 6)$ Cash received of $₹ 2500$ from Rajesh for bad debt recovered.
View full question & answer→Question 33 Marks
Record the following transactions in the journal proper of Shri Chandan Choksi.
$(1)$ Furniture purchased of $₹ 20,000$ from Sajavat Furniture Mart.
$(2)$ Machinery valued of $₹ 20,000$ sold to Chirag at $₹ 22,000.$
$(3)$ Old furniture of office of $₹ 5000$ sold for $₹ 4500.$
$(4)$ Received goods of $₹ 1000$ as free samples.
$(5)$ Purchased machinery of $₹ 50,000$ from Sagar Machinery Stores. Half amount paid by cash.
$(6)$ Goods of $₹ 6000$ were destroyed by fire. Insurance company accepted a claim and give a cheque of $₹ 5000.$
View full question & answer→Question 43 Marks
Pass journal entries in the books of Shri Rohan Rangani for the following tansactions in the journal proper.
$(1)$ $₹ 2000$ received from Rahul for bad debt written off in past, which is credited to his personal account.
$(2)$ $₹ 4500$ received from Sohan is recorded in Mohan's account.
$(3)$ $₹ 1200$ paid for life insurance premium is debited to insurance premium account.
$(4)$ $₹ 6000$ paid for salary to Parag is debited to his personal account.
$(5)$ $₹ 1000$ paid for installation charges for machinery is wrongly debited to wages account.
$(6)$ Old furniture sold of $₹ 4000$, is entered in the sales account.
View full question & answer→Question 53 Marks
Pass journal entries in the books of Shri Rohan Rangani for the following tansactions in the journal proper.
$(1)$ $₹ 2000$ received from Rahul for bad debt written off in past, which is credited to his personal account.
$(2)$ $₹ 4500$ received from Sohan is recorded in Mohan's account.
$(3)$ $₹ 1200$ paid for life insurance premium is debited to insurance premium account.
$(4)$ $₹ 6000$ paid for salary to Parag is debited to his personal account.
$(5)$ $₹ 1000$ paid for installation charges for machinery is wrongly debited to wages account.
$(6)$ Old furniture sold of $₹ 4000$, is entered in the sales account.
View full question & answer→Question 63 Marks
Pass journal entries for closing the follwoing accounts.
$(1)$ Salary account $₹ 8000$
$(2)$ Dividend account $₹ 6000$
$(3)$ Advertisement expense account $₹ 12,000$
$(4)$ Interest received account $₹ 3000$
$(5)$ Insurance premium account $₹ 5000$
$(6)$ Rent received account $₹ 4000$
View full question & answer→Question 73 Marks
Pass journal entries for closing the following accounts.
$(1)$ Sales account $₹ 80,000$
$(2)$ Purchase account $₹ 60,000$
$(3)$ Wages account $₹ 5000$
$(4)$ Purchase return account $₹ 3000$
$(5)$ Sales return account $₹ 2000$
$(6)$ Railway freight account $₹ 1000$
View full question & answer→Question 83 Marks
Write the following transactions in the journal proper of Shri Saurav Shah.
$(1)$ Outstanding wages of $₹ 500.$
$(2)$ Prepaid insurance premium of $₹ 800.$
$(3)$ Receivable commission $₹ 1200.$
$(4)$ Premium of candidate received in advance of $₹ 1000.$
$(5)$ Provide depreciation of $₹ 2000$ on machinery.
$(6)$ Closing stock of goods is $₹ 15,000.$
$(7)$ Closing stock of stationery is $₹ 800.$
$(8)$ $₹ 3000$ due from Rahul is not possible to recovered now.
View full question & answer→Question 93 Marks
Record the following transactions in the journal proper of Shri Ravindra Rajpara books.
$(1)$ Drawings of $₹ 6000$ transfter to capital account.
$(2)$ Vipul accepted to pay $₹ 8000$ to Biren.
$(3)$ An amount of $₹ 6000$ is receivable from Raj and $₹ 6200$ is payable to Ronak. The account of Ronak was settled by Raj accepting to pay $₹ 6000.$
View full question & answer→Question 103 Marks
Record the following transactions in the journal proper of Vineet Virani.
$(1)$ Brought cash of $₹ 20,000$, furniture of $₹ 5000$, goods of $₹ 10,000$ and machinery $₹ 15,000$ to start the business.
$(2)$ Brought personal debtors of $₹ 15,000$ and personal creditors of $₹ 5000$ in the business.
$(3)$ Brought personal dues from Vishal of $₹ 10,000$ and personal debt to Vivek of $₹ 18,000$ in the business.
$(4)$ Brought personal creditors of $₹ 8000$ in the business.
$(5)$ Brought personal furniture of $₹ 7000$ and personal vehicles of $₹ 15,000$ in the business.
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