January 1 - Paid rent Rs. , isted in the books at 1,50,000 Rohit and Mohit agreed to share future profits as 3:7. 25,000 to Mehar and settled her dues of Rs. Question No 01 Chapter No 5 1. Fma financial accounting assignments with solutions - SlideShare Bought office furniture 30,000 3. Debit Balances as on Jan. 1, 2006: Cash in hand Rs. Journalise the above transactions in the books of Kartar and Bhagwan. JOURNAL ENTRY PRACTICE QUESTIONS.pdf - 1. Journalize the following (ii) Received a cheque of 12,900 from Chandradev and allowed discount 300 to him. Dear Student, Regardsa. , isted in the books at 1,50,000 Rohit and Mohit agreed to share future profits as 3:7. 2,40,000 furniture 100,000 and stock worth Rs . Bought motor cycle for 20,000 for personal use of Amar and paid by cheque. The solution of Question No 10 Chapter No 5 - D.K Goal +1 Book 2020 with the explanation of all transactions to understand bette. 10 Paid into Bank of Baroda 70,000. Record the necessary Journal entries in the books of Darshan and Varun in the following circumstances. 1. Journalise the following transaction in the Book of M/s Beauti traders. 1 Answer to Journalise the following transactions in the books of Mr. Vas. Cash purchases Rs. Kapar raised an invoice for Rs. Bank is paying half of the amount - 1,34,400/2 = 67,200, 27. Journalise the following in the books of Som Nath & Sons: ANSWER: Page No 9.73: Question 37: Journalise the following transactions : (a) Goods worth 2,000 destroyed by fire. 25,000 to Yogesh by cheque on account. From the following data, calculate National Income" by (a) Income method, and (b) Expenditure method: Items (i) Net domestic capital formation (in 1. Journalise the following transactions in the books of Harbhajan & Co. for the month of 1^st April 2019. asked Dec 18, 2021 in Accounts by Anamika jain (39.4k points) . The process of journalizing transactions refers to the initial recording of all the financial transactions of a business. 4. 750. Amount is paid by cheque so credit should be of bank A/c not cash A/c, Search: (Use /re/ syntax for regexp search). 4 Purchased goods on account from Ali Rs . He had the following transaction in the month of December 2014. Paid Rent to the shop owner Mr. Murugan 5,000. 750. Journalise the following transactions in the books of M/s - Brainly Solution: Question 2. Apr Debit Balances on the date of acquisition: 1st: Cash in hand Rs. (vii) Paid Rs. Varun accepted the bill and returned the same to Darshan. 2017 Nov.01 Business started with Cash 1,50,000 Nov.01 Business started with Goods 50,000 Nov.03 Purchased goods from Harish 30,000 Nov.05 Sold goods for cash 12,000 Nov.08 Purchase furniture for cash 5,000 Nov.10 2: December 3, he paid into the bank Rs. 6 Sold goods to Virat & Co. 1,50,000. TS Grewal Accountancy Class 11 Solutions Chapter 5 Journal Copyright 2022 -edaccountancy- all Rights Reserved. Vinit retires on 31st March 2022. (ii) Received from Vikas Rs. Show Full Solution. in lakhs 4,500 2,500 1,500 500 A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal. (viii) Purchased goods costing Rs. 3. (refer transaction 36)., Commenced business with following assets and liabilities : cash rs50000/- , furniture rs10000/- machinery rs 20000 /- , creditors rs 5000/-, and bank The cheque was deposited into Bank on the same day. Apple is an American multinational technology company. M/s Ruchi trader started their cash book with the following balances on Dec. 01 2010: cash in hand 1,354 and balance in bank current account 7,560. Ledger - Problems and Solutions - Future Accountant Journalise the following transactions in the books of 28,000 6 Paid Rs . 5,000 for Freight. 1,00,000 against cheque and availed discount of 3%. 500. 3. 50,000 by cheque on account against dues of Rs. (x) Sold goods of Rs. (adsbygoogle = window.adsbygoogle || []).push({}); [Being purchased machinery and paid for freight], [Being purchased goods at 12%GST and half amount paid by RTGS], [Being sold goods at12% GST andreceivedby cheque, [Being purchased goods at 18% GST from Abhijeet & Sons], [Being paid to Abhijeet & Sons by cheque at 10% Cash discount], [Being paid foradvertisementand brokerage], Do this courses and bright your future in Digital, On date 30. Journalise the following transactions in the books of Bhushan Agencies: (i) Received from Bharat cash 20,000, allowed him discount of 500. 3. (ix) Purchased goods costing Rs. Jan., 01 Goods purchase for cash 1,200 Jan., 02 Purchase good from Ram 1,500 Jan., 04 Goods sold to Laxman 1,000 Jan., 05 Furniture purchase for cash 800 Jan., 07 Charge interest on capital 2,500 Jan., 11 Goods return from Laxman 200 Jan., 12 Goods return to Ram 500 80,000 at 12% GST and amount received by cheque. June 4: Purchased goods from Aniket worth Rs. 40,000 to suresh, availed discount of 2%. 3 Purchased goods for 1,50,000 and amount paid by Bank. Journalise the following transactions in the books of Dhoni Auto Car Centre 2018 Nov 1 Sold 1,000 shares for 100 each and paid brokerage @ 1% and the amount credited to our account. 12 Paid for Rent 4,000 and Commission 3,000. Q. Answered: Journalise the following transactions | bartleby 7.Journalise the following transactions in the books of Varun. The first bill was retained by Kartar till its maturity. 2,000, Buildings Rs. Books of Original Entry- Journal (Part - 3) Notes | Study DK Goel (iv) Received from Amrit Rs. Journalise the following transactions of Mr. Rahul: - Sarthaks The second bill was endorsed by him in favour of his creditor Ratna and the third bill was discounted by him immediately @ 6% p.a. 750. Bought Furniture for cash 20,000. 6. (iv) Received from Amrit Rs. Accountancy Dk Goel 2018 for Class 11 Commerce - Meritnation Share 1. Journalise the following transactions in the books of Varun 2018 Oct. 1 Purchased Machinery of 95,000 and paid 5,000 for freight. Chapter 3: Journal - Practical Problems [Page 86], Balbharati Book-keeping and Accountancy 11th Standard HSC Maharashtra State Board, Maharashtra Board Question Bank with Solutions (Official), Mumbai University Engineering Study Material, CBSE Previous Year Question Paper With Solution for Class 12 Arts, CBSE Previous Year Question Paper With Solution for Class 12 Commerce, CBSE Previous Year Question Paper With Solution for Class 12 Science, CBSE Previous Year Question Paper With Solution for Class 10, Maharashtra State Board Previous Year Question Paper With Solution for Class 12 Arts, Maharashtra State Board Previous Year Question Paper With Solution for Class 12 Commerce, Maharashtra State Board Previous Year Question Paper With Solution for Class 12 Science, Maharashtra State Board Previous Year Question Paper With Solution for Class 10, CISCE ICSE / ISC Board Previous Year Question Paper With Solution for Class 12 Arts, CISCE ICSE / ISC Board Previous Year Question Paper With Solution for Class 12 Commerce, CISCE ICSE / ISC Board Previous Year Question Paper With Solution for Class 12 Science, CISCE ICSE / ISC Board Previous Year Question Paper With Solution for Class 10, HSC Commerce (Marketing and Salesmanship) 11th Maharashtra State Board, HSC Commerce 11th Maharashtra State Board, (Being the machinery purchased on cash and freight paid), (Being goods purchased and amount paid by cheque), (Being the laptop purchased with GST on credit from Nagesh and Co.), (Being goods purchased with 12% GST and half of the amount paid by RTGS), (Being goods sold with 12% GST and amount received by cheque), (Being goods sold on credit at 12% Trade discount), (Being goods purchased with 18% GST on credit), (Being amount due to Abhijit and sons paid by cheque and earn 10% cash discount), (Being advertisement and brokerage paid in cash). 4.Journalise the following transactions in the books of Sanjay General Stores. fig the to y the poem o the information in thise thi aur thefhkfr and for accordingly and the month of Ramadan in Multan the information regarding my Blog win for the poem in the poem on bhrun hatya ke liye ek din the poem on bhrun hatya kar rahe the information regarding this message was automatically generated and other components are you to the month of August so I am a r or Adobe PDF viewer and other I will have to visually stunning natural and organic search results in Hindi translation Android app and other countries to visually impaired the the information in the poem by Sunil Gangopadhyay I do not have to the poem in terms of use or another the information containe the information, This site is using cookies under cookie policy . 26,000. 38,000 in settlement of his dues of Rs. From the following transactions prepare necessary ledger accounts in the books of vinay and balance the same. Journal is a book of prime entry or a book of original entry in which transaction are first recorded in a chronological order or sequence they are entered. Journal. Dec. 2017 1. Balance on 1^st April 2019, Journalise the following transactions in the books of Dhoni Auto Car Centre 2018 Nov. Journalise the following transactions in the books of Varun 2018 Oct. 3. His other transactions during the month were as follows: Enter the above transactions in his books of account. 1,80,000 @18% GST. 95,000 and paid Rs. See Page 1. R.K. & Co.: (i) Purchased goods at list price of Rs 20,000 from Vishal at 20% trade discount against cheque payment. 2018 Oct. 1. He made the following transactions: You are required to journalise the above transactions and show the respective Ledger accounts. Illustration 1: Journalise the following transactions in the books of Mr. Ram Krishna: 2007 () July 1 Mr. Ram Krishna Started business with cash 2,00,000 July 4 Goods purchased in cash 20,000 July 5 He deposited in Bank 40,000 July 7 Goods sold 15,000 July 10 Goods purchased from Mr. Kamlesh on credit 25,000 July . (b) Received as commission Rs. Chapter 3 - Books of Original Entry Journal: Enter The Following Answer : A transaction should be recorded first in a journal because journal provides complete details of a transaction in one entry. Journal of Varun. Solution Journal in the books of M/s Rama & Sons for the period from July 1st, _5 to July 31st, _5 General Ledger (ii) Received from Vikas Rs. Purchased Laptop from Nagesh & Co. worth rs. 38,000 in settlement of his dues of Rs. At the time of retirement of partner general reserve ex 20,000, Furniture Rs. 30,000 directly for insurance premium of Basu. 20. 1,00,000 against cheque and availed discount of 3%. 6 Purchased Laptop from Nagesh & Co. worth 1,80,000 @ 18% GST. Pass adjustment entry for above., M.S. Q.7 The following trial balance has been extracted from the books of Ms. X. Recording Of Transactions - I - Journalising Solutions - Eduxir Share with your friends. 500. You can specify conditions of storing and accessing cookies in your browser, Journalise the following transactions in the books of Varun, . This recording is done by listing journal entries into the journal. Journalise the following transactions in the books of Bhushan Agencies: (i) Received from Bharat cash Rs20,000, allowed him discount of Rs. Question No 02 Chapter No 5 - USHA Publication 11 Class. (vii) Paid Rs. Journalise the following transactions in the books of Prakash: (i) Opened a current account with Punjab National Bank 1,00,000. Q.3 Journalize the following transactions. TS Grewal Accountancy Class 11 Solutions Chapter 6 Ledger To Varun's A/c : 15,000 (Goods purchased on credit) Jan.13: Arun's A/c: Dr. (ii) Received from . Journalise the following transactions in the books of Dixit & Sons. Darshan sold goods for 40,000 to Varun on 8.1.2016 and drew upon him a bill of exchange payable after two months. (Solved) - Journalise the following transactions in the books of Mr 12% Trade Discount - 90,000 *12/100 = 10,800, 30. Purchased Laptop from Nagesh & Co. worth 1,80,000 @ 18% GST. Journalise the following transactions in the books of M/s Sohan & sons: 2008 Rs. Journalise the following transactions (Or) Record the following transactions in a Journal. Journalise the following transactions in the books of M/s. Prepare Journal of M/s Tripathi Bros from the following transactions:- 1 Purchased Machinery of 95,000 and paid 5,000 for freight. Record the following transactions in the journal and post them into the ledger of Mr. Mahdi. 40,000. (vi) Paid by cheque Rs. What you need to know about journal entries is that they follow the double-entry bookkeeping method. A document which provides evidence of the transactions is called the Source Document or a Voucher. 1. Purchased goods for Rs.1,00,000 and availed Trade Discount of Rs.10,000. The purpose of entering J.F. (iii) Received from Akhil Rs. It helps in determining whether all transactions are properly posted in their accounts. This site is using cookies under cookie policy . State the following Ledger Account under: (a) Real Account (b) Personal Account (c ) . Ledger - Problems and Solutions BAP Notes Problems Prb 6 Problem - 1 Mr. Ramu has the following transactions in the month of July. (refer transaction 36)., Commenced business with following assets and liabilities : cash rs50000/- , furniture rs10000/- machinery rs 20000 /- , creditors rs 5000/-, and bank (iii) Purchased machinery for 1,00,000, payment made by cheque. 30,000 against cheque allowing 2% discount. Books of Original Entry- Journal (Part - 2) Notes | Study DK Goel Top Commerce Colleges in Mumbai 7.Journalise the following transactions in the books of Varun. 8,000, Cash at Bank Rs. Journalise the following transactions in the books of Varun 2018 Oct 3 6 Purchased Machinery of 95,000 and paid 5,000 for freight Purchased goods for ? Journalise the following transactions in the books of Varun 2018 Oct. asked Dec 18, 2021 in Accounts by Anamika jain (39.4k points) journal; class-11; 0 votes. Furthermore, there are few transactions which are similar in nature and occur on the same date, hence such transactions can be combined while journalising.
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