Give Answer As Asked .(12 Marks)

Question 112 Marks

Record the following transaction in the Journal Proper of Shri Ekta

$2014$
March	$1$	Brought furniture of $Rs.7,000.$ goods of $Rs.15,000$ and machinery of $Rs.20,000$ to start the Business
	$2$	Scientific calculator of $Rs.2,000$ and cellular phone of $Rs.25,000$, purchased fromKamlesh Trader
	$3$	Fan of $Rs.2,500$ purchased for household use by giving goods of $Rs.3,000.$
	$4$	Drew a bill of $Rs.8,000$ on Namrata, which he accepted and returned.
	$5$	Bill of Namrata endorsed to Yesha against her debt of $Rs.8,050.$
	$6$	A bill of $Rs.6,000$ drawn by Bharat accepted by us and retured to him.
	$7$	Goods of $Rs.8,000$ were stolen away from the godown, for which the insurance company accepted a claim of $75%$ of the amount.
	$8$	An amount of $Rs.8,000$ is receivable from Nirav and $Rs.8,200$ is payable to Nalin. The account of Nalin was settled by Nirav accepting to pay $Rs.8,000.$
	$9$	Cash received from Rajendra for bad debt recovered $Rs.2,000$.
	$10$	$Rs.300$ is payable to Manoj for interest.

Answer

Journal Proper of Ekta
Dt./No.	Particulars		L.	Debit	Credit
Dt./No.	Particulars		F.	(Rs.)	(Rs.)
$2014$
Mar.$1$	Furniture A/c	Dr.		$7,000$
	Goods Stock A/c	Dr.		$15,000$
	Machinery A/c	Dr.		$20,000$
	To Capital A/c				$42,000$
	(Being furniture, goods stock and machinery bring in the business)
$2$	Stationary Exp. A/c	Dr.		$2,000$
	Mobile Phone A/c	Dr.		$25,000$
	To Kamlesh Traders A/c				$27,000$
	(Being calculator and mobile phone purchased from Kamlesh Traders)
$3$	Drawings A/c	Dr.		$3,000$
	To Purchase A/c				$3,000$
	(Being goods withdrawn for purchase of fan for house)
$4$	Bills Receivable A/c	Dr.		$8,000$
	To Namrata A/c				$8,000$
	(Being bill accepted and returned by Namrata)
$5$	Yesha A/c	Dr.		$8,050$
	To Bills Receivable A/c				$8,000$
	To Discount A/c				$50$
	(Being entry for bills receivable endorsed to Yesha)
$6$	Bhargav A/c	Dr.		$6,000$
	To Bill payable A/c				$6,000$
	(Being bills payable accepted & returned to Bhargav)
$7$	Insurance Co. A/c	Dr.		$6,000$
	Loss by theft St. A/c	Dr.		$2,000$
	To Purchase A/c				$8,000$
	(Being goods of Rs.8,000 stolen away and Insurance Co. accepted 75 % claim)
$8$	Nalin A/c	Dr.		$8,200$
	To Nirav A/c				$8,000$
	To Discount A/c				$200$
	(Being entry for the account of Nirav was settled by Nalin accepting to pay Rs.4,000)
$9$	Cash A/c	Dr.		$2,000$
	To Bad Debts Recovered A/c				$2,000$
	(Being entry for bad debts recovered)
$10$	Interest A/c	Dr.		$300$
	To Unpaid interest A/c				$300$
	(Being adjustment entry for unpaid interest to Manoj)
	Total			1,12,550	1,12,550

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Question 212 Marks

Write adjustment entries for the following adjustments.
$(1)$ Provide depreciation of $Rs.2,000$ on furniture.
$(2)$ $Rs.2,500$ is irrecoverable from Kalpana.
$(3)$ Insurance premium $Rs. 1,000$ is paid in advance to insurance company.
$(4)$ Apprentice premium $Rs.2,000$ is still not received.
$(5)$ Unpaid advertisement expense $Rs. 1,700.$
$(6)$ Interest $Rs.500$ received in advance.
$(7)$ Closing stock is $Rs.12,000.$

Answer

Total of journal proper $= Rs.21,700$

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Question 312 Marks

Write Closing entries to close the following accounts:
$(1)$ Purchase A/c : $Rs. 10,000$
$(2)$ Purchase return A/C : $Rs.500$
$(3)$ Sales Alc : $Rs.16,000$
$(4)$ Sales return A/c : $Rs.1,000$
$(5)$ Salary A/C : $Rs.4,000$
$(6)$ Wages A/C : $Rs.800$
$(7)$ Dividend A/c : $Rs.250$
$(8)$ Depreciation A/c : $Rs.1,000$
$(9)$ Discount received A/c : $Rs. 150$
$(10)$ Interest paid A/c : $Rs.175$
$(11)$ Apprentice premium A/C : $Rs. 600$
$(12)$ Railway freight A/c : $Rs. 200$
$(13)$ Borrowed loan interest A/c : $Rs.425$
$(14)$ Loan advance - Interest A/c : $Rs.325$
$(15)$ Carriage inward A/c : $Rs.300$

Answer

Total of journal proper $= Rs. 35,725$

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Question 412 Marks

Write the following transactions in the journal proper of Samir $(Rectification entries)$
$(1)$ Salary for $Rs.5,000$ is wrongly debited to Keyur A/c.
$(2)$ Bad debts written off $Rs.2,000$ is recovered from Zalak which is wrongly credits to Zalak A/c.
$(3)$ $Rs.3,000$ received from Nayan, wrongly credited to Nayana A/c.
$(4)$ $Rs. 2,000$ paid for life insurance premium is debited to Insurance premium A/c.
$(5)$ Machine of $Rs.8,000$ sold for $Rs. 7,000$ to Dev.
$(6)$ $Rs.1,000$ paid to Haresh is debited to Naresh A/c.
$(7)$ $Rs. 1,200$ paid for insurance premium is debited to Insurance company A/c.
$(8)$ $Rs.1,000$ received from Het, wrongly recorded to Heet A/c.
$(9)$ Purchased a machine of $Rs.5,000$ is debited wrongly to purchase A/c.
$(10)$ $Rs.1,000$ paid for office expense is debited to salary A/c.

Answer

Total of journal proper $= Rs. 29,200$

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Question 512 Marks

From the following transactions of Kaushik Patel prepare journal proper.
$2016$ Jan $1$. Started business by bringing in stock of goods $Rs. 10,000$, Computer $Rs. 12,000$, Furniture $Rs. 10,000$ and Machine of Rs. $4,000.$$4$ From Dev Electronics purchased $A.C.$ of $Rs.18,000$ and Mobile of $4,000$ for business.
$7$ Goods of $Rs.8,000$ destroyed in an accident for which insurance company accepted claim of $80\%$ amount.
$10$ Received $Rs. 3,000$ from Nidhi which was earlier written off as bad debts.
$12$ Purchased a cupboard of $Rs. 3,800$ for personal use in exchange of goods of $Rs.4,000$ $14$ Drew a bill of $Rs.2,000$ on Prakash which he accepted and returned.
$16$ Accepted a bill of $Rs.4,000$ and returned it to Mayank.
$20$ Endorsed the bill accepted by Prakash in favour of Bela for the settlement of debt of $Rs.2,020.$
$21$ An amount of $Rs. 6,000$ is receivable from Archana and that of $Rs. 6,350$ is payable to Samir.
The amount of Archna was settled by Samir accepting to pay $Rs. 6,000$ $23$ Interest $Rs.400$ is due for payment to Avneetbhai.
$25$ Commission $Rs.400$ is receivable from Avneetbhai.
$28$ Goods of $Rs.35,000$ is withdrawn for personal use from the business.
$31$ Drew a bill of $Rs. 3,000$ on Zalak which she accepted and returned.

Answer

Total of journal proper = $Rs. 96,170$

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