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Journal - Problems

The document contains transactions from January 2016 and January 2000 to be journalized for different companies and individuals. It also contains transactions from April 2000 for Sakthivel of Chennai to be journalized. The transactions include purchases and sales of goods and assets, expenses paid like salaries, rent, freight, and interest received and paid.

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269 views

Journal - Problems

The document contains transactions from January 2016 and January 2000 to be journalized for different companies and individuals. It also contains transactions from April 2000 for Sakthivel of Chennai to be journalized. The transactions include purchases and sales of goods and assets, expenses paid like salaries, rent, freight, and interest received and paid.

Uploaded by

Sheeba
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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JOURNAL

1.Journalise the following transactions:


2016
JAN 1. Purchased goods for cash Rs. 10.000
JAN 2. Purchased stationery for cash Rs. 500
JAN 3. Purchased furniture for cash Rs. 3,000
JAN 4. Sold goods for cash Rs.8,000.
JAN 5. Sold goods to Jane for cash Rs. 3,000
JAN 6. Sold goods to James Rs. 2,000
JAN 7. Paid Rent to Krishnan, the landlord Rs. 800
JAN 8. Paid salary of Rs.8,000
JAN 9. Paid Lokesh, the manager his salary of Rs. 3.000
JAN 10. Paid freight on goods purchased Rs.300
JAN 11. Paid freight on machine purchased Rs. 400
JAN 12. Paid wages Rs. 500
JAN 13. Paid wages to erect a machine Rs.1,000
JAN 14. Received Rs.800 from Kamal
JAN 15. Received Rs.600 from Kamal as interest
JAN 16. Received Rs. 7,000 from Kamal as loan at 5% interest

2.Journalise the following transactions of M/s. Radha & Sons


2000
Jan 1 Business started with Rs. 2,50,000 and cash deposited with Bank Rs.1,50,000
3 Purchased machinery on credit from Rangan Rs.50,000
6 Bought furniture from Ramesh for cash Rs. 25,000
12 Goods sold to Yashoda Rs.22,500
13 Goods Returned by Yashoda Rs.2,500
15 Goods sold for cash Rs.50,000
17 Bought goods for cash Rs.25,000
20 Cash received from Yesodha Rs.10,000
21 Cash paid to Ramola Rs.20,000
25 Cash withdrawn from bank Rs.50,000
29 Paid advertisement expenses Rs.12,500
30 Bought office stationery for cash Rs.5000
31 Cash withdrawn from bank for personal use of the proprietor Rs.6250
31 Paid salaries Rs.15,000
31 Paid rent Rs.2,500

3.Pass the necessary journal entries in the books of Sakthivel of Chennai for the following
transactions from the following report of transactions written by him for April 2000.
2000
April 2 Purchased business for Rs. 2,00,000
4 Purchased machinery from Kandan Bros, Trichy for Rs. 30,000 on which they paid
Rs. 300 freight on my behalf.
4 The erection charges of machinery amounted to Rs. 900 which were paid in cash.
6 A cashier has stolen Rs. 1,500 and he is absconding.
8 Goods costing Rs. 12,000 were insured for Rs. 10,000 and premium at 8% p.a was paid
on them.
10 On claim being made for theft of cash, insurance company paid Rs. 1,500.
12 Received an order from Dayalan for supply of goods worth Rs. 4,000.
13 Goods were supplied as per order of Dayalan and freight of Rs. 200 was paid on it.
15 Goods worth Rs. 100 were distributed as samples free of charge.
20 Goods, the list price of which is Rs. 40,000; are sold to Sugumar at 10% trade discount

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