Journal Entries

1. Pass the journal entries for the following transactions.

2021 April 1 Purchased goods for cash Rs. 80,000.
2021 April 2 Purchased goods on credit from Amar Traders Rs. 1,00,000.
2021 April 3 Sold goods for cash Rs. 1,10,000
2021 April 4 Sold goods on credit to Vimal Rs. 1,30,000.
2021 April 5 Returned goods to Amar Traders Rs. 10,000
2021 April 6 Vimal returned goods to us Rs. 13,000.

2. From the following transaction of Raj, Pass the journal entries

1. Started business with Rs. 2,00,000 in cash.
2. Brought office furniture for cash Rs. 20,000
3. Brought machinery on credit from Globe traders Rs. 30,000
4. Purchased goods from Bharath Traders Rs. 1,00,000
5. Sold goods for cash Rs. 2,00,000
6. Sold goods to Babu Rs 75,000.
7. Received the amount due from Mr. Babur s. 75,000
8. Paid the amount due to Bharath Traders
9. Received interest on investment Rs. 8,000
10. Received service charges Rs. 10,000
11. Paid general expenses Rs. 5,000
12. Received dividend on shares Rs. 6,000
13. Paid general expenses Rs. 2,000

3. Journalize the following transactions in the books of Rahul.

2021 June 1 Started business with cash Rs. 3,00,000
2021 June 7 Cash Purchases RS. 30,000
2021 June 9 Cash Sales Rs. 25,000
2021 June 15 Goods Sold to Mr Raghu Rs. 15,000
2021 June 18 Purchased Office furniture Rs. 60,000
2021 June 25 Purchased goods from Prakash Rs. 40,000
2021 June 27 Paid cash to Mr Prakash Rs. 20,000
2021 June 28 Received cash from Raghu Rs. 10,000
2021 June 29 Received commission Rs. 2,000
2021 June 30 Paid rent by cash Rs. 1,000

4. Pass the Journal entries in the books of Ajith Traders.

1. On 1st April 2021, Purchased goods for cash Rs. 50,000
2. On 4th April 2021, Purchased goods from Ramesh and Company by Cheque Rs. 60,000 and
Paid carriage thereon Rs. 500 in cash.
3. On 6th April 2021, Purchased furniture from Karnataka Traders for Rs 15,000 and paid
carriage thereon Rs. 750 in cash.
 4. On 10th April 2021 Purchased machinery by cheque Rs. 40,000 and paid freight and carriage
thereon Rs. 2,000 and installation charges Rs. 4,000 in cash.
5. On 12th April 2021, sold goods for cash Rs. 80,000.
6. On 15th April 2021, Sold goods for Rs. 90,000 and received cheque.
7. On 28th April 2021, sold goods to Sheetal Traders Rs. 75,000

5. Pass the compound journal entries for the following transactions.

1. On 20th January 2021 rent paid Rs. 2,000; interest paid Rs. 7,000; Salary Paid Rs. 11,000.
2. On 21st January 2021 received commission Rs. 4,000; received interest on deposit Rs. 6,000
3. On 23rd January 2021 paid commission Rs. 1,000 and refreshment expenses Rs. 2,000
4. On 25th January 2021 paid general expenses Rs. 2,000 and rent in advance Rs. 3,000
5. On 29th January 2021, purchased office furniture Rs. 12,000 and computer for Rs. 30,000 and
issued cheque.

6. Journalize the following transactions in the books of Nishanth.

April 1, 2021 Commenced business with the following:

Cash Rs. 2,50,000

Furniture Rs. 1,00,000
Building Rs. 2,00,000
Stock Rs 30,000
Cash at bank Rs 5,000
Cash in hand Rs 2,000
April 4, 2021 Purchased Computer for Rs. 20,000 and Office Car Rs. 40,000

April 6, 2021 Purchased goods from Rajesh Rs. 15,000 and Mahesh Rs. 13,000

April 8, 2021 Sold goods to Rajendra Rs. 20,000 and Raghu Rs. 25,000.

April 10, 2021 Cash purchases Rs. 8,000 and paid commission Rs. 500

April 11, 2021 Paid Mr. Rajesh Rs. 3,000 in cash; Rs. 11,000 in cheque and received discount Rs.
1,000

April 13, 2021 Received from Rajendra Rs. 12,000 cash; Rs. 7,500 cheque and allowed him
discount Rs. 500

April 14, 2021 Cash Sales Rs. 30,000 and additional capital introduced Rs. 40,000

April 15, 2021 Cash drawn from bank for office use Rs. 15,000 and for personal use Rs. 7,500.

7. Journalize the following transactions in the books of Mr. Ramesh.

September 1, 2021 Mr. Ramesh Commenced business with Rs. 1,50,000

September 2, 2021 He opens an account with bank and deposits Rs. 50,000

September 4, 2021 Purchased furniture for Rs. 8,800; Typewriter for Rs. 3,000 and issued cheque.
September 6, 2021 Good purchased from Mr. Satya Rs. 7,500

Spetember 8, 2021 Goods Purchased from Mr. Srikanth for cash Rs. 9,000

September 10,2021 Goods sold to Rakesh for Rs. 10,000

September 12, 2021 Goods sold to Kumar for cash Rs. 12,000

September 14, 2021 Paid for Office stationery Rs. 800

September 16, 2021 Installed neon sign board at the cost of Rs. 10,000

September 18, 2021 Received cash from Rakesh of Rs. 9,000 allowed discount of Rs. 1,000

September 20, 2021 Invoiced goods to Mr Rakesh worth Rs. 5,000 and allowed a trade discount of 5%

September 22, 2021 Cheque issued for Rs. 7,000 in full settlement (i.e. Nothing more is due to them)
to Mr. Satya.

September 24, 2021 Deposited Rs. 10,000 into the bank

September 26, 2021 paid insurance premium Rs. 900 by cheque

September 28, 2021 Paid rent Rs. 2,000 salaries Rs. 5,000 and electricity bill Rs. 1,000.

8. Journalize the following transactions in the books of Ajith.

1st March 2021 Started business with cash Rs. 2,50,000

2nd March 2021 Borrowed a loan from Mr. Raghu Rs. 1,00,000

5 March 2021 Purchased computer for office use Rs. 40,000 from Gurudev Infotech.

7 March 2021 Purchased furniture for office use Rs. 20,000

9 March 2021 Appointed Mr. Sudeep as a Manager and gave him an advance of Rs. 10,000.

11 March 2021 Purchased goods from Mr. Kiran Rs. 50,000

13 March 2021 Sold goods to Mr. Arun rs. 60,000

15 March 2021 Placed an order with Mr. Suresh for goods to be received a month later Rs. 15,000

17 March 2021 Paid Commission to Mr. Prathap Rs. 5,000

19 March 2021 Received cash from Mr Manjunath Rs. 3,000 as on advance from future sales.

21 March 2021 gave a loan to Mr. Suhas Rs. 12,000

23 March 2021 Cash Paid to Mr. Kiran Rs. 30,000

25 March 2021 Received cash from Mr. Arun Rs. 45,000

30 March 2021 Paid Salaries Rs. 10,000 and Rent Rs. 6,000
OPENING JOURNAL ENTRY

9. Pass the opening journal entry from the following information as on 1st April 2021.

2021 March 31 cash in hand Rs. 40,000; cash at Bank Rs. 45,000; Stock in trade Rs. 65,000; sundry
debtors Rs. 80,000; Office furniture Rs. 90,000 and sundry creditors Rs. 40,000.

10. Pass the opening journal entry from the following information as on 1st April 2021 of Mr. Amar
Assets and Liabilities.

Stock of goods Rs. 28,000; Cash at bank Rs. 72,000; Cash in hand Rs. 2,000; Furniture Rs. 10,000;
Amount due from Mr. Anand Rs. 3,000; Amount due from Mahesh Rs. 5,000; Amount due to Ramesh
Amith Rs. 4,000 and Amount due to Mahadev Rs. 6,000.

11. Journalize the following transactions in the books of Prathap.

1 May 2021 Started business with cash Rs. 25,000 and stock Rs. 50,000

8 May 2021 Deposited cash into bank Rs. 10,000

11 May 2021 Purchased furniture for business purpose Rs. 3,000

15 May 2021 Purchased furniture for resale Rs. 2,000

17 May 2021 Purchased goods from Mr. Arjun Rs. 4,000

19 May 2021 Sold goods to Mr. Ram Rs. 5,000

21 May 2021 Sold Furniture which was purchased for business purpose Rs. 1,000

23 May 2021 Purchased building for Rs. 20,000 for cash

25 May 2021 Received Rs. 1,200 from LIC of India as agent’s commission Rs. 2,500

27 May 2021 Withdrew cash from business for personal expenses Rs. 1,000

28 May 2021 Paid salary Rs. 1,500; Rent Rs. 1,000 and electricity bill Rs. 300

31 May 2021 Bank Paid Rs. 600 directly for insurance premium.

12. Journalize the following transactions in the books of Pradeep.

2021

July 1 Mr. Pradeep commenced business with cash Rs. 2,00,000 and goods Rs. 50,000.

July 4 Opened Current A/c with Punjab National Bank and Deposited Rs. 25,000

July 6 Borrowed a loan from PNB Rs. 75,000

July 8 Borrowed a loan from Karnataka enterprises Rs. 25,000

July 10 Purchased furniture from Mysore woods and issued a cheque of Rs. 5,000

July 12 Cash purchases Rs. 10,000

July 14 Cash Purchases from Ramnath and Co Rs. 15,000

July 16 Goods Sold to Ms Bharath Traders Rs. 20,000.

July 18 Received commission Rs. 5,500

July 20 received commission from Karnad Rs. 6,000

July 22 Purchased goods from Narayan Rs. 7,000

July 24 Purchased stationery for Rs. 1,500

July 26 Drawing by the proprietor from cash Rs. 4,000

July 27 Drawings by the proprietor from bank Rs. 2,000

July 28 Proprietor took goods from business for personal use Rs. 1,000

July 29 Paid rent Rs. 500; salaries Rs. 3,000 by cheque

July 30 Issued cheque to Narayan Rs. 5,000.

13. Journalize the following transactions in the books of Mr. Rajiv.

2021 Aug 1 Mr. Rajiv started his business with Rs. 80,000 in cash. Brought office furniture worth Rs.
25,000 and stock of goods valued at Rs. 30,000 and loan from his wife Rs. 24,000

2021 Aug 2 Purchased goods from Mr Madhu for cash Rs. 28,000 and paid carriage Rs. 500

2021 Aug 5 Invoiced goods to Mr. Dinesh Rs. 5,000

2021 Aug 7 Purchased from Mr Prakash goods worth Rs. 12,000

2021 Aug 9 received rent from tenant Rs. 2,500

2021 Aug 11 Mr. Rajiv withdrew for personal use Rs. 3,000

2021 Aug 13 Paid cash for advertisement in newspaper Rs. 750

2021 Aug 15 Returned to Mr Praksh goods damaged in transit and sent him a debit note Rs. 500

2021 Aug 19 Paid interest at Rs. 10% per annum to Mrs Rajiv on her loan.

2021 Aug 28 Mr Dinesh Returned goods valued at Rs. 200 as being defective.

14. Journalize the following transactions in the books of Mr. Kadur

2021
April 1 Commenced business with cash Rs. 50,000; Furniture Rs. 10,000; goods Rs. 15,000 and
borrowed money from his brother patil Rs. 30,000.

April 3 Purchased goods of Rs. 35,000 from Suhas.

April 5 Returned goods of 3,000 to Suhas

April 7 Gave charity to a poor student Rs. 2,000

April 9 Theft of cash from office Rs. 1,000

April 11 Purchased for cash goods worth Rs. 12,000 at 5% cash discount

April 13 Gave an order to Rohit for purchase of goods worth Rs. 20,000

April 15 Received goods worth Rs. 20,000 as per the order to Rohit.

April 17 Sold goods to Pathan Rs. 5,000

April 19 Good worth Rs. 2,000 stolen

April 21 Paid Rs. 3,000 to print Pamphlets about business.

April 23 Bad Debts written off Rs. 2,000 from Ganesh

April 25 Recovery of written off bad debts from Pritvi Rs. 1,000.