JOURNAL ENTRIES

1. Mr. Robert is a sole proprietor having a provisions store. Following are the transactions
during the month of January, 2018. Journalise them.
Jan.              Rs.
1   Commenced business with cash    80,000
2   Deposited cash with bank   40,000
3   Purchased goods by paying cash                      5,000
4   Purchased goods from Lipton & Co. on credit                              10,000
5   Sold goods to Joy and received cash 11,000   
6   Paid salaries by cash                     5,000
7   Paid Lipton & Co. by cheque for the purchases made on 4th Jan.       
8   Bought furniture by cash                        4,000
9   Paid electricity charges by cash                        1,000
10 Bank paid insurance premium on furniture as per standing instructions         300

2. Mr. Ananth is a trader dealing in textiles. For the following transactions, pass journal
entries for the month of January, 2018.
Jan. Rs.
1   Commenced business with cash    70,000
2   Purchased goods from X and Co. on credit      30,000
3   Cash deposited into bank    40,000
4   Bought a building from L and Co. on credit     95,000
5   Cash withdrawn from bank for office use        5,000
6   Cash withdrawn from bank for personal use of Mr. Ananth   4,000
7   Towels given as charities     3,000
8   Shirts taken over by Ananth for personal use 12,000
9   Sarees distributed as free samples          3,000
10 Goods (table clothes) used for office use          200

3. Arun is a trader dealing in automobiles. For the following transactions, pass journal
entries for the month of January, 2018
Jan.              Rs.
1   Commenced business with cash    90,000
2   Purchased goods from X and Co. on credit      40,000
3   Accepted bill drawn by X and Co.          20,000
4   Sold goods to D and Co. on credit          10,000
5   Paid by cash the bill drawn by X and Co.
6   Received cheque from D and Co. in full settlement and deposited
the same in bank      9,000
7   Commission received in cash        5,000
8   Goods costing Rs. 40,000 was sold and cash received    50,000
9   Salaries paid in cash  4,000
10 Building purchased from Kumar and Co. for Rs. 1, 00,000 and an advance of Rs. 20,000 is
given in cash
4. Braithwaite is a trader dealing in electronic goods who commenced his business in 2015.
For the following transactions took place in the month of March 2018, pass journal
entries.

March                    Rs.
1.  Purchased goods from Y and Co. on credit      60,000
2.  Sold goods to D and Co. on credit          30,000
3.  Paid Y and Co. through bank in full settlement         58,000
4.  D and Co. accepted a bill drawn by Braithwaite         30,000
5.  Sold goods to L on credit    20,000
6.  Sold goods to M on credit   40,000
7   Received a cheque from M in full settlement and deposited the same to the
bank       39,000
8.  Goods returned to Y and Co.       4,000
9. L became insolvent and only 90 paise per rupee is received by cash in final settlement
10.  Goods returned by M                           3,000

5. Williamson is a sole trader dealing in textiles. From the following transactions, pass
journal entries for the month of March, 2018.
March                                                Rs.
1   Commenced business with cash 90,000 with goods 60,000       
2   Purchased 20 readymade shirts from X and Co. on credit  10,000       
3   Cash deposited into bank through Cash Deposit Machine  30,000       
4   Purchased 10 readymade sarees from Y and Co. by cash   6,000
5   Paid X and Co. through NEFT                                
6   Sold 5 sarees to A and Co. on credit                         4,000
7   A and Co. deposited the amount due in Cash Deposit Machine           
8   Purchased 20 sarees from Z & Co. and paid through debit card 12,000       
9   Stationery purchased for and paid through net banking                         6,000
10 Bank charges levied                      200

6. Deri is a sole trader dealing in automobiles. From the following transactions, pass journal
entries for the month of January, 2018.
Jan.              Rs.
1   Commenced business with cash 1,00,000 with goods 2,00,000, with buildings  5,00,000
2   Purchased goods from A and Co. on credit 3,00,000
3   Cash deposited into bank    80,000
4   Purchased goods from B and Co. and payment        made through credit card        5,000
5   Paid A and Co. through RTGS   
6   Sold goods to C and Co. and cheque received  50,000
7   Deposited the cheque received from C and Co. with the bank    
8   Purchased goods from Z & Co. and paid through debit card        12,000
9  Stationery purchased for and paid through net banking     6,000
10 Income tax of Deri is paid by cheque          10,000 
7. Chang Lee is a sole trader dealing in sports items. From the following transactions, pass
journal entries for the month of March, 2018.
March                    Rs.
1   Commenced business with cash    4,00,000
2   Cash deposited into bank    3,00,000
3   Purchased goods from Ravi and payment made through net banking    90,000
4   Sales made to Kumar, who deposited the money through CDM  10,000
5   Sales made to Vivek, who made the payment by debit card         60,000
6   Sold goods to Keerthana, who made the payment through credit card   50,000
7   Dividend directly received by bank         2,000
8   Money withdrawn from ATM       3,000
9   Salaries paid through ECS  6,000
10 Cricket bats donated to a trust      10,000

8. Deepak is a dealer in stationery items. From the following transactions, pass journal
entries for the month of January and February, 2018.
Jan.              Rs.
1   Commenced business with cash    2,00,000
2   Opened a bank account by depositing cash      1,00,000
3   Stationery items sold on credit to Padmini and Co.        60,000
4   Bills received from Padmini and Co. for the amount due  
5   Bills received from Padmini and Co. discounted with the bank    58,000
Feb.         
15 Bills of Padmini and Co. dishonoured 

9. Consider the following balances in the Balance Sheet as on 31st March 2013. Pass the
opening entry on 1st April 2013. Rs.
Subodh’s Capital A/c 2,75,000
Loan from HDFC Bank 4,25,000
Plant and machinery 3,30,000
Cash in hand 20,000
Balance at Citi Bank 1,75,000
Trade Debtors
3,55,000
Closing Stock 1,35,000
Trade Payables 2,95,000
Outstanding Expenses 40,000
Prepaid Insurance 20,000

10. Mr. Ramu has the following transactions in the month of July. Record them into the
journal and show postings in the ledger and balance the accounts.
July 1st : Ramu started business with a capital of 75,000
1st : Purchased goods from Manu on credit 25,000
2nd : Sold goods to Sonu 20,000
3rd : Purchased goods from Meenu 15,000
4th : Sold goods to Tanu for cash 16,000
5th : Goods retuned to Manu 2,000
6th : Bought furniture for 15,000
7th : Bought goods from Zenu 12,000
8th : Cash paid to Manu 10,000
9th : Sold goods to Jane 13,500
10th : Goods returned from Sonu 3,000
11th : Cash received from Jane 5,500
12th : Goods taken by Ramu for domestic use 3,000
13th : Returned Goods to Zenu 1,000
14th : Cash received from Sonu 12,000
15th : Bought machinery for 18,000
16th : Sold part of the furniture for 1,000
17th : Cash paid for the purchase of bicycle for Ramu's son 1,500
19th : Cash sales 15,000
20th : Cash purchases 13,500

11. Journalise the following transactions in the books of Moon and post them into the ledger
for the month of August
Aug 10th : Moon commenced business with a capital of 1,50,000
11th : Cash deposited into bank 50,000
12th : Bought equipment for 15,000
13th : Bought goods worth 20,000 from Star and payment made by cheque
14th : Sold goods to Sun for 15,000 and payment received through cheque
16th : Paid rent by cheque 5,000
17th : Took loan from Mr. Storm 25,000
18th : Received commission from Mr. Air by cheque 5,000
19th : Wages paid 15,000
20th : Withdrew from bank for personal use 3,000
21st : Withdrew from bank for office use 10,000
22nd : Bought goods for 25,000
23rd : Cash paid into bank 30,000
24th : Interest paid through cheque 2,000
25th : Gave loan to Mr. Wind 10,000
26th : Amount paid to Mr. Storm on loan account 15,000
27th : Salary paid to Manager Mr. Liquid 5,000
28th : Postage paid 1,000
29th : Received cheque from Mr. Wind on loan account 3,000
30th : Sold part of the equipment for 2,000

12. Deri is a sole trader dealing in automobiles. From the following transactions, pass journal
entries for the month of January, 2018.
Jan.              Rs.
1   Commenced business with cash    1,00,000
     with goods        2,00,000
     with buildings   5,00,000
2   Purchased goods from A and Co. on credit      3,00,000
3   Cash deposited into bank    80,000
4   Purchased goods from B and Co. and payment        made through credit card         5,000
5   Paid A and Co. through RTGS   
6   Sold goods to C and Co. and cheque received  50,000
7   Deposited the cheque received from C and Co. with the bank    
8   Purchased goods from Z & Co. and paid through debit card        12,000
9  Stationery purchased for and paid through net banking     6,000
10      Income tax of Deri is paid by cheque          10,000

13. Chandran is a sole trader dealing in sports items. From the following transactions, pass
journal entries for the month of March, 2018.
March                    Rs.
1   Commenced business with cash    4,00,000
2   Cash deposited into bank    3,00,000
3   Purchased goods from Ravi and payment made through net banking    90,000
4   Sales made to Kumar, who deposited the money through CDM  10,000
5   Sales made to Vivek, who made the payment by debit card         60,000
6   Sold goods to Keerthana, who made the payment through credit card   50,000
7   Dividend directly received by bank         2,000
8   Money withdrawn from ATM       3,000
9   Salaries paid through ECS  6,000
10 Cricket bats donated to a trust      10,000