Give Answer As Asked . (3 Marks)

Question 13 Marks

Pass jounral entries for closing the following account:
$(1)$ Dividend received account $Rs.700$
$(2)$ Purchase account $Rs.5,000$
$(3)$ Sales account $Rs. 10,000$

Answer

Journal Proper of Shri......
Dt./No.	Particulars		L.	Debit	Credit
Dt./No.	Particulars		F.	(Rs.)	(Rs.)
$1$	Dividend A/c	Dr.		$700$
	To Profit & Loss A/c				$700$
	(Being received dividend A/c closed and transferred to Profit & Loss A/c)
$2$	Trading A/c	Dr.		$5,000$
	To Purchase A/c				$5,000$
	(Being Purchase A/c closed and transferred to Trading A/c)
$3$	Sales A/c	Dr.		$10,000$
	To Trading A/c				$10,000$
	(Being Sale A/c closed and transferred to Trading A/c)
	Total			$15,700$	$15,700$

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Question 23 Marks

Pass jounral entries for closing the following account:
$(1)$ Interest received account $Rs. 800$
$(2)$ Advertisement expense account $Rs. 1,500$
$(3)$ Salary account $Rs. 4,000$

Answer

Journal Proper of Shri......
Dt./No.	Particulars		L.	Debit	Credit
Dt./No.	Particulars		F.	(Rs.)	(Rs.)
$1$	Interest received A/c	Dr.		$800$
	To Profit & Loss A/c				$800$
	(Being interest received Ale closed & transferred to Profit and Loss A/c)
$2$	Profit & Loss A/c	Dr.		$1,500$
	To Advertisement Exp. A/c				$1,500$
	(Being Advertisement exp. A/c closed and transferred to Profit and Loss A/c)
$3$	Profit and Loss A/c	Dr.		$4,000$
	To Salary A/c				$4,000$
	(Being Salary exp. A/c closed and transferred to Profit & Loss A/c)
	Total			$6,300$	$6,300$

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Question 33 Marks

Pass jounral entries for closing the following account:
$(1)$ Interest expense account $Rs.1,000$
$(2)$ Sales return account $Rs. 3,000$
$(3)$ Purchase return account $Rs. 2,000$

Answer

Journal Proper of Shri......
Dt./No.	Particulars		L.	Debit	Credit
Dt./No.	Particulars		F.	(Rs.)	(Rs.)
$1$	Profit & Loss A/c	Dr.		$1,000$
	To Interest Expense A/c				$1,000$
	(Being closing entry for Interest expenses A/c transferred to Profit & Loss A/c)
$2$	Trading A/c	Dr.		$3,000$
	To Sales Return A/c				$3,000$
	(Being closing entry for Sales return A/c transferred to Trading A/c)
$3$	Purchas return A/c	Dr.		$2,000$
	To Trading A/c				$2,000$
	(Being Purchase return A/c closed and transferred to trading A/c)
	Total			$6,000$	$6,000$

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Question 43 Marks

Pass adjustment entries for the following adjustment in the Journal proper of Shri Maya :
1. Closing stock of ₹ 30,000.
2. Salary ₹ 8,000 is unpaid.
3. ₹ 600 is accrued for interest.

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Question 53 Marks

Form the following, pass necessary journal entries in the Journal Proper of Shri Ektta:
1. Brought machinery of ₹ 10,000; furniture of ₹ 15,000 and stock of goods of ₹ 25,000 for starting the business.
2. At the end of the year, the balance of purchase account is ₹ 75,000; carriage inward account is ₹ 5,000 and sales return account is ₹ 10,000. Write closing combined entries.
3. Pass closing combined entries for these accounts:(1) Interest received account ₹ 900, (2) Dividend account ₹ 600 and (3) Interest on drawings ₹ 500.

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Question 63 Marks

Pass journal entries for the following transaction in the journal proper of Shri Dhruv:
1. ₹ 3,000 received from Sejal is recorded in Bijal’s account.
2. ₹ 1,600 received from Karnal for bad debts written off in past, which is credited to Karnal’s account.
3. ₹ 2,500 paid for life insurance premium is debited to Premimum A/c.

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Question 73 Marks

Record the following transactions in the journal proper of Shri Rakesh Patel:
1. Gave goods of ₹ 5,000 to Anath Ashram.
2. Distributed goods of ₹ 4,000 as free samples.
3. Withdrew goods of ₹ 8,000 from the business for the personal use.

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Question 83 Marks

Record the following transactions in the journal proper of Shri Naresh:
1. A bill of ₹ 6,000 drawn on a debtor Ashok, which he accepted and returned it to us.
2. Distributed goods of ₹ 3,000 as free samples.
3. ₹ 6,500 payable to Pankaj is accepted by Yogesh to pay.

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