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Question 14 Marks

Pass Jounral entries for the following transaction in Journal Proper:
$(1) Rs.700$ received from Renuka is recorded in Bhumika's account.
$(2) Rs.1,000$ received from Updesh for bad debt written off in past, which is credited to Updesh'saccount.
$(3) Rs.800$ paid to Sharma is debited to Varma's account.
$(4) Rs.1,200$ paid for insurance premium is debited to drawings account.
$(5)$ Old furniture of $Rs.6,000$ of business sold for $Rs.5,800.$

Answer

Journal Proper of Shri.....
Dt./No.	Particulars		L.	Debit	Credit
Dt./No.	Particulars		F.	(Rs.)	(Rs.)
$1$	Bhumika A/c	Dr.		$700$
	To Renuka A/c				$700$
	(Being rectification entry for an amount received from Renuka but wrongly recorded to Bhumika A/c)
$2$	Updesh A/c Dr.	Dr.		$1,000$
	To Bad Debts Recovered A/c				$1,000$
	(Being rectification entry for bad debts recovered received from Updesh is wrongly recorded to his A/c)
$3$	Sharma's A/c	Dr.		$800$
	To Verma's A/c				$800$
	(Being rectification entry for amount paid to Sharma) is wrongly debited to Verma's A/c)
$4$	Insurance Premium A/c	Dr.		$1,200$
	To Drawing A/c				$1,200$
	(Being Rectification entry for insurance premium paid is wrongly debited to drawings A/c)
$5$	Loss by sale of furniture A/c	Dr.		$200$
	To Furniture A/c				$200$
	(Being entry for furniture sold by loss)
	Total			$3,900$	$3,900$

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Question 24 Marks

Record the following transactions in the journal proper of Rakesh: $(1 )$ Gave goods of $Rs.5,000$ to Anath Ashram. $(2 )$ Distributed goods of $Rs.4,000$ as free samples. $(3)$ Withdrew goods of $Rs.8,000$ from the business for the personal use. $(4)$ Purchased furniture of $Rs.3,000$ by giving goods of $Rs.2,800. (5)$ Goods of $Rs.7,000$ were destroyed by fire, for which the insurance company accepted a claim of $Rs.5,500. (6)$ An amount of $Rs.2,000 $ Is receivable from Nirali, which cannot be received now. $(7)$ Write off depreciation on machinery $Rs.800. (8)$ Salary for the month of March is unpaid $Rs.7,800.$

Answer

$1)$ donation expense A/c Dr. $Rs. 5000,$ To purchase A/c $Rs. 5000$
$2)$ advertisement expense A/c Dr. 4000, To purchase A/c $Rs. 4000$
$3)$ drawings A/c Dr. $Rs. 8000,$ To purchase A/c $Rs. 8000$
$4)$ furniture A/c Dr. $Rs. 2800, $ To purchase A/c $Rs. 2800$
$5)$ insurance company A/c Dr. $Rs. 5500,$ loss due to accident A/c Dr. $Rs. 1500,$ To purchase A/c $Rs. 7000$
$6)$ bad debts A/c Dr. $Rs. 2000, $ To nirali A/c $Rs. 2000$
$7)$ depreciation A/c Dr. $800,$ To machine A/c $Rs. 800$
$8) $ salary A/c Dr. $Rs. 7800,$ To outstanding salary A/c $Rs. 7800$

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Question 34 Marks

Shri Gujarat Stores does not maintain separate subsidiary books for transactions of bill receivable, bill payable, purchase return and sales return. Record the following transactions in the Journal Proper.$(1)$ Drew a bill $Rs.8,000$ on Ramnik which he accepted and returned.
$(2)$ Accepted a bill of $Rs.3,000$ drawn by Vijay and returned to him.
$(3)$ Bill receivable of Ramnik endorsed to Ramesh.
$(4)$ Goods of $Rs.3,000$ returned by Paresh to us.
$(5)$ Goods of $Rs.1,500 $ returned to Mahendra.

Answer

Journal Proper of Gujarat Stores
Dt./No.	Particulars		L.	Debit	Credit
Dt./No.	Particulars		F.	(Rs.)	(Rs.)
$1$	Bills Receivable A/c	Dr.		$8,000$	-
	To Ramnik's A/c			-	$8,000$
	(Being bills receivable accepted returned by Ramnik)
$2$	Vijay's A/c	Dr.		$3,000$	-
	To Bills Payable A/c			-	$3,000$
	(Being Vijay's bill accepted and returned)
$3$	Ramesh A/c	Dr.		$8,000$	-
	To Bills receivable A/c			-	$8,000$
	(Being Ramnik bill endorsed to Ramesh)
$4$	Saled Return A/c	Dr.		$3,000$	-
	To Paresh A/c			-	$3,000$
	(Being goods returned by Paresh)
$5$	Mahendra A/c	Dr.		$1,500$	-
	To Purchase Returned A/c			-	$1,500$
	(Being goods returned to Mahendra)
	Total			$23,500$	$23,500$

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Question 44 Marks

Yuvraj does not maintain separate subsidiary books for bills receivable, bills payable,purchase returns and sales returns. Pass entries of the following transactions in the Journal Proper. $(1)$ A bill of $Rs. 8000$ drawn on a debtor Mayur for collection of dues from him, which heaccepted and returned it to us. $(2)$ We accepted a bill of $Rs. 5000$ drawn by Ketan against his debt of $Rs. 7000,$ which weaccepted and returned to him. $(3)$ The bill accepted by Mayur was dishonoured on the maturity date. $(4)$ Returned goods of $Rs. 4000$ to Chetan. These goods were purchased before ten days onthree months' credit. $(5)$ Pranay returned goods of $Rs. 2000,$ which we had sold on two months' credit.

Answer

Journal Proper of Shri Yuvraj
Dt./No.	Particulars		L.	Debit	Credit
Dt./No.	Particulars		F.	(Rs.)	(Rs.)
$1$	Bills receivable A/c	Dr.		$8000$
	To Mayur's A/c				$8000$
	[Being bill of $Rs. 8000$ accepted by Mayur. ]
$2$	Ketan A/c	Dr.		$5000$
	To Bill payable A/c				$5000$
	[Being bill of $Rs. 5000$ drawn by Ketan, accepted by us.]
$3$	Mayur's A/c	Dr.		$8000$
	To Bill receivable A/c				$8000$
	[Being bill receivable of $Rs. 8000$ dishonoured by Mayur.]
$4$	Chetan's A/c	Dr.		$4000$
	To Purchase returns A/c				$4000$
	[Being goods of $Rs. 4000$ returned to Chetan]
$5$	Sales return's A/c	Dr.		$2000$
	To Pranav's A/c				$2000$
	[Being goods of $Rs. 2000$ returned by Pranav]
	Total			$27,000$	$27,000$

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