Ravi Sir and Sanjeev Sirs Nimble Education for Commerce and Humanities ICSE,ISC,CBSE,IGCSE,AS & A,IBDP

Contact 9033311500, 8866611600

Journals Revision

Give journals for the following transactions for the month of February
1.Started business with a loan from friend in cash Rs 500,000.
2.Purchased goods Rs 80,000, trade discount @ 20% and cash discount @ 10% allowed.
3.Purchased goods worth Rs 40,000, trade discount @ 10% and cash discount @ 5% allowed, 40% of
the amount was paid immediately.
4.Purchased goods worth Rs 50,000, 10% trade discount allowed. Cash discount allowed @ 20% if
paid within 7 days. He paid 30% in cash on 6 and 50% on 9.
5.Received a cheque of Rs 19,200 from Haq for s ettlement of account of Rs 19,800.
6.Ashu became insolvent and an amount of 60 paise in a rupee was recovered from him in final
settlement. Amount due from him was Rs 2,000.
7.Sold furniture book value Rs 3,000 for 2,800 in cash.
8.Sold old news papers Rs 20.
9.Purchased goods from Zala Rs 30,000.
10.Sold 60% of goods purchased from Zala to Rohit at 50% profit subject to 5% trade discount and 1%
cash discount.
11.Withdrew from bank Rs 10,000 for office use and Rs 3,000 for personal expenses.
12.Paid for car repairs Rs 2,500, 75% of car use is for personal use.
13.Received Rs 5,200 from Anurag previously written off as bad.
14.Salaries due to manager Rs 10,000.
15.Depreciation to be charged on Machinery with book value Rs 100,000 @ 10%.
16.Rent paid Rs 3,000 with included Rs 1,000 for next month.
17.Interest on capital allowed Rs 800 and charged on drawings Rs 200.
18.Purchased a second hand car for Rs 50,000 and spent Rs 3,000 on repairs along with Rs 10,000
on tyres.
19.Paid for repairs to office chairs Rs 2,000.
20.Paid for building insurance Rs 30,000 and life insurance Rs 10,000 by cheque.
21.Purchased a machinery for Rs 50,000 and paid Rs 4,000 for transportation along with Rs 2,500 for
installation.
22.Sold goods to Anu costing Rs 40,000 and invoice was prepared at 15% plus cost, subject to 1%
cash discount.
23.Purchased goods from Mr. Venu Rs 200,000, of these sold to Rana goods worth Rs 80,000 at an
invoice of 30% above cost subject to 5% trade discount.
24.Withdrew goods for personal use Rs 10,000. Distributed goods as free samples Rs 4,500. Gave
goods for charity Rs 3,500. Goods pilfered by employee Rs 500.
25.Goods costing Rs 10,000 having a sales value Rs 12,000 were damaged by fire. Claim received to
the extent of 90%.
26.Goods costing Rs 2,000 were damaged while being in godown. Insurance claim passed RS 1,200.
27.Depreciate computer costing Rs 100,000 @ 12% pa for 5 months.
28.Purchased furniture worth Rs 200,000 from Zara furniture, of this 30% was for office use and balance
for re sale.

Q2.Journalise the following transactions for the month of march.

1.Started business with cash Rs 200,000, bank balance Rs 100,000, Inventory Rs 500,000 and Office
equipment Rs 150,000.

Ravi Sir and Sanjeev Sirs Nimble Education for Commerce and Humanities ICSE,ISC,CBSE,IGCSE,AS & A,IBDP
Contact 9033311500, 8866611600
Ravi Sir and Sanjeev Sirs Nimble Education for Commerce and Humanities ICSE,ISC,CBSE,IGCSE,AS & A,IBDP
Contact 9033311500, 8866611600
2.Paid rent Rs 5,000 by cheque, 25% of the premises was to be used for household purposes.
3.Purchasaed from Bharti goods Rs 120,000, GST applied @ 10%.
4.Sold goods costing Rs 120,000 at a profit of 50% on cost subject to 10% GST and 5% trade discount.
Carriage outwards paid was Rs 2,000.
5.Paid insurance Rs 4,000 by cheque. Accounting year ends on 31st March.
6.Purchased goods costing Rs 80,000 from Arham sales, and they charged Rs 3,000 for transportation.
Sold half of the goods to Naran at a profit of 40% on cost subject to 1% trade discount, we paid Rs
4,500 for transportation of goods which was to be charged to him.
7.Purchased 100 shares of ABB ltd at Rs 300 per share, brokerage being 1%. All payment paid in
cheque.

Q3.Journalise the following for opening entry.

Radhe had the following assets and liabilities on 1st April 2017: Cash Rs 200,000, Inventory Rs 80,000,
Debtors Rs 90,000, Bills receivable Rs 110,000, Furniture Rs 80,000, patents Rs 25,000, Debtors Rs
180,000, Creditors Rs 90,000, Bills payable Rs 20,000, Loan from Bank of Ahmedabad Rs 50,000.

Ravi Sir and Sanjeev Sirs Nimble Education for Commerce and Humanities ICSE,ISC,CBSE,IGCSE,AS & A,IBDP
Contact 9033311500, 8866611600