WORKSHEET FOR JOURNAL ENTRIES:

1. Journalise the following transactions:

2018
April 1 Received an order for goods for ₹1,20,000 from M/s Gauri Shankar
and Sons.
April 3 Received order for goods from M/s Ranbir and Co. of ₹5,00,000
along with a cheque for ₹1,80,000 as advance.
April 5 Placed order for goods with M/s Kohli and Sons of ₹2,50,000; paid
them ₹1,00,000 by cheque in advance.
April 7 Kohli & Sons. supplied goods of ₹2,50,000
April 10 Paid a cheque for 60% of the balance amount due to Kohli & Sons on
account.
April 15 Goods for ₹20,000 and furniture of the book value of 10,000
destroyed by fire.
April 20 Goods costing ₹50,000 were damaged in transit; claim was made on
railway authorities for the same.
April 22 Received from Salesman ₹60,000 for goods sold by him after
deducting his travelling expense ₹4,000.
April 25 Sold goods to Vishesh costing ₹40,000 at a profit of 25% and allowed
him 10% trade discount and paid for cartage ₹1,000 to be charged
from him.
April 28 Received a cheque of ₹40,000 from the railway authorities in full
settlement of claim for damages in transit.

2. Journalise the following:

2017
March 1 Mukesh Bros. invested ₹2,00,000 in business of general stores.
March 2 Paid into Current Account ₹1,20,000.
March 4 Purchased goods for ₹60,000 and paid ₹2,000 for carriage on these
goods.
March 6 Purchased goods for ₹1,00,000 on credit from Raghunath Brothers,
paid ₹1,200 for carriage on these goods.
March 10 Purchased machinery for ₹10,000 and spent ₹100 for its carriage.
March 13 Payment made to Raghunath Brothers by cheque after getting 10%
discount for prompt payment.
March 16 Additional cash introduced by the proprietor ₹50,000.
March 17 Spent ₹25,000 for show case.
March 20 Purchased goods from Ravi for ₹12,000 and the payment was made
by cheque.
March 22 Sold 1/5th of the above goods at a profit of 33 1/3% on cost.
March 28 Bank charges for its services ₹200.

3. Pass the Journal Entries for the following:

2017
March 2 Purchased an Iron Safe for business for ₹1,00,000 and payment
made by cheque.
March 3 Purchased filing cabinet for office use ₹40,000 and paid ₹200 as
cartage on it.
March 4 Purchased a Computer from Radha Kishan and Co. for ₹80,000 on
credit.
March 5 Purchased an electric fan for ₹20,000.
March 6 Purchased a ‘Horse’ for business for ₹1,50,000 and payment made
by cheque.
March 7 Purchased Post Cards for ₹250; Envelopes for ₹500 and Stamps for
₹1,000.
March 8 Purchased office stationery for ₹4,000.
March 15 Gave as Charity—Cash ₹2,000 and Goods ₹4,000.
March 20 The Horse bought on March 6 died, its carcass was sold for ₹10,000.
March 25 Sold household furniture for ₹1,00,000 and paid the money into
business.
March 31 Paid to landlord by cheque ₹1,20,000 for rent. One third of the
building is occupied by the proprietor for residential use.

4. Prepare Journal from the following transactions:

₹
Cash paid for installation of machine. 5,000
Goods given away as charity. 20,000
Interest charged on capital @7% p.a. when total capital was 7,00,000
Received ₹12,000 of a bad debt written off last year. -
Goods destroyed by fire. 20,000
Rent outstanding 10,000
Interest on drawing 9,000
Sudhir Kumar who owed me ₹30,000 has failed to pay the amount. -
He pays me a compensation of 45 p. in a ₹ by cheque
5. Journalise the following transactions in the books of Harpreet bros:
a) ₹10,000 due from Rohit are now bad debts.
b) Goods worth ₹20,000 were used by the proprietor.
c) Charge depreciation @10%p.a. for two months on machine costing
₹3,00,000.
d) Provide interest on capital of ₹15,00,000 at 6%p.a. for 9 months.
e) Rahul who owed us ₹20,000 become insolvent and a final dividend of 60
paise in a rupee is received from his estate by cheque.
f) Goods costing ₹80,000 sold to Mohan for ₹1,00,000.

6. Enter the following transactions in the Journal of Shankar Stores:

2018
April 1 Started business with ₹ 5,00,000; paid into bank ₹ 4,00,000
April 4 Purchased goods for ₹ 1,40,000 in all, out of which half the goods
was on credit from Mr. Sudhir.
April 7 Purchased building for ₹ 2,00,000 and paid 2% brokerage on its
purchase. Also incurred ₹ 24,000 on its registration. Payment for
building was made by cheque and brokerage and registration
charges were paid in cash.
April 12 Sold goods to Arun for ₹ 2,00,000. Arun pays one-fourth amount in
cash.
April 14 A cheque of ₹ 1,48,000 is received from Arun in full settlement and
the cheque is immediately deposited into bank.
April 16 Paid stationery expenses ₹ 180.
April 17 Paid fire insurance premium on building by cheque ₹ 1000 and
Shankar’s life insurance premium by cheque ₹ 4000.
April 20 Paid for office cleaning ₹ 200.
April 28 Received a sum of ₹ 2500 being rent for a portion of building let out.
April 28 Paid for advertisement in ‘The Hindustan Times’ ₹ 2000.

7. The following balances appeared in the books of Vishal Stores on 1 st April,

2020:
Assets: Cash ₹ 15,000; Bank Balance ₹ 5,000; Stock ₹ 40,000; Furniture ₹ 3,600;
Debtors ₹ 24,000 (X ₹ 6,000, Y ₹ 8,000 and Z ₹ 10,000).
Liabilities: Bank Loan ₹ 10,000; Creditors ₹ 12,500 (Ajay ₹ 5,000, Vijay ₹ 7,500).
Following transactions took place during April 2020:
2020
April 2 Bought goods from Kailash for ₹ 20,000 at a trade discount of 10%
and cash discount of 2%. Paid 60% amount immediately.
April 4 Sold goods to X for ₹ 9,000.
April 5 Received ₹ 14,800 from X in full settlement of his account.
April 6 Cash deposited into bank ₹ 10,000.
April 8 Cheque received from Y for ₹ 7,850 in full settlement of his account.
This cheque was immediately deposited into the bank.
April 10 Received a cheque from Z ₹ 2,000.
April 12 Cheque received from Z deposited into bank.
April 15 Cheque received from Y dishonoured.
April 16 Cash sales ₹ 15,000; Out of this amount ₹ 12,000 deposited into the
bank.
April 16 Amount due to Ajay paid by cheque.
April 18 Old newspapers sold ₹50.
Old furniture sold ₹750.
April 20 Z became insolvent and 40 paise in a rupee could be received from
his estate by cheque which is deposited into bank.
April 22 Purchased goods from Gopal and paid by cheque ₹ 8,000.
April 24 Sold half of the above goods to Chanderkant at a profit of 30% on
cost.
April 25 Proprietor withdrew for private use ₹ 2,000 from office and ₹ 3,000
from bank.
April 30 Paid salary to Motilal by cheque ₹ 2,000.
April 30 Paid Rent by cheque ₹ 1,500.
April 30 Paid trade expenses ₹ 500.
8. Journalise the following transactions in the books of Mathur Bros.
2018
Feb 1 Started business contributing ₹ 50,000 in cash; ₹ 4,50,000 in
cheque and building valued ₹ 20,00,000.
Feb 5 Purchased goods from Manohar Lal of the list price of
₹ 50,000 for ₹ 46,000.
Feb 17 Purchased goods costing ₹ 1,00,000 from Sahil & Co. Paid 60%
immediately by cheque to avail 5% discount.
Feb 24 Sold goods to Kishore & Co. of the list price of ₹ 40,000 for
₹ 38,000.
Feb 26 Sold to Kanika & Co. goods costing ₹ 1,00,000 at 20% profit,
allowing 10% trade discount and 5% cash discount. Kanika &
Co. made 40% payment immediately by cheque.