Q. 5.

Solution:

Journals of Shri Prabhakar

Date Particulars L. Dr. Cr.

F. ₹ ₹
2010
Oct.,
01 Cash A/c Dr. 50,000 -----
Furniture A/c Dr. 10,000 -----
Machinery A/c Dr. 20,000 -----
To Creditors A/c ----- 5,000
To Bank Overdraft A/c ----- 10,000
To Capital A/c ----- 65,000
( Being started business with assets and
liabilities )

02 Purchases A/c Dr. 12,000 -----

To Mayuresh’s A/c ----- 12,000
( Being purchases goods on credit )

03 Chinmay’s A/c Dr. 7,200 -----

To Sales A/c ----- 7,200
( Being sold goods on credit )

05 Stationery A/c Dr. 200 -----

Postage A/c Dr. 200 -----
To Cash A/c ----- 400
( Being expenses paid for business )

08 Mayuresh’s A/c Dr. 12,000 -----

To Cash A/c ----- 11,850
To Discount Received A/c ----- 150
( Being amount paid to Mayuresh and
discount received )

11 Purchases A/c Dr. 18,000 -----

To Bank A/c ----- 17,460
To Discount Received A/c ----- 540
( Being goods purchased @ 10 % T. D. &
3 % C. D. And amount paid by cheque )

15 Rishabh’s A/c Dr. 12,120 -----

To Sales A/c ----- 12,000
To Cash A/c ----- 120
( Being sold goods to Rishabh on credit &
Paid carriage on his behalf )

18 Cash A/c Dr. 6,070 -----

 Discount Allowed A/c Dr. 50 -----
To Rishabh’s A/c ----- 6,120
( Being cash received & Discount Allowed )

20 Insurance Claim A/c Dr. 3,800 -----

Goods Lost by fire A/c Dr. 1,200 -----
To Purchases A/c ----- 5,000
( Being goods destroyed by fire and part
Amount receivable as Insurance Claim )

25 Bank A/c Dr. 29,400 -----

Discount Allowed A/c Dr. 600 -----
To Sales A/c ----- 30,000
( Being goods sold in cash @ 2 % C. D.
& amount deposited in Bank )

29 Purchases A/c Dr. 22,500 -----

Carriage A/c Dr. 200 -----
To Deven’s A/c ----- 22,700
( Being purchased goods on credit @ 10 %
T. D. And Carriage charges incurred on our
behalf )

31 Drawings A/c Dr. 400 -----

To Purchases A/c ----- 400
( Being withdrawn goods for personal use )

Total ₹ 2,05,940 2,05,940

Q. 6. Solution:

Journals of Mr. Vishwas

Date Particulars L. Dr. Cr.

F. ₹ ₹
2009
April
01 Bank A/c Dr. 30,000 -----
To Capital A/c ----- 30,000
( Being additional capital introduced )

02 Purchases A/c Dr. 13,500 -----

To Madhura’s A/c ----- 9,000
To Cash A/c ----- 4,410
To Discount Received A/c ----- 90
( Being purchases goods @ 10 % T. D. &
2 % C. D. & 1/2 amount paid by cheque )
05 Salaries A/c Dr. 8,000 -----
Wages A/c Dr. 1,500 -----
Drawings A/c Dr. 2,000 -----
To Cash A/c ----- 9,500
To Bank A/c ----- 2,000
( Being amount paid in cash & by cheque
For business and personal use )

08 Cash A/c Dr. 6,790 -----

Discount Allowed A/c Dr. 210 -----
To Sales A/c ----- 7,000
( Being goods sold in cash @ 3 % C. D. )

10 Cash A/c Dr. 800 -----

To Bad – Debts Recovered A/c ----- 800
( Being bad debts recovered )

13 Advertisement / Free samples A/c Dr. 450 -----

To Purchases A/c ----- 450
( Being goods distributed as free samples )

15 Madhura’s A/c Dr. 9,000 -----

To Cash A/c ----- 8,950
To Discount Received A/c ----- 50
( Being amount paid to Madhura and
Discount Received )

18 Drawings A/c Dr. 2,000 -----

To Cash A/c ----- 1,200
To Purchases A/c ----- 800
( Being cash & goods withdrawn for
Personal use )

22 Stationery A/c Dr. 500 -----

To Cash A/c ----- 500
( Being Stationery purchased in cash )

25 Drawings A/c Dr. 750 -----

To Cash A/c ----- 750
( Being amount paid for personal use )

30 Parimal’s A/c Dr. 8,550 -----

To Sales A/c ----- 8,550
( Being sold goods to Parimal on credit
@ 5 % T. D. )

Total ₹ 84,050 84,050

Q. 7. Solution:

Journals of Mr. Randhir

Date Particulars L. Dr. Cr.

F. ₹ ₹
2011
January,
01 Cash A/c Dr. 75,000 -----
Stock of Goods A/c Dr. 40,000 -----
Furniture A/c Dr. 20,000 -----
Machinery A/c Dr. 30,000 -----
To Creditors A/c ----- 15,000
To Bank Loan A/c ----- 25,000
To Capital A/c ----- 1,25,000
( Being started business with assets and
liabilities )

02 Cash A/c Dr. 10,000 -----

To Sales A/c ----- 10,000
( Being goods sold in cash )

03 Postage A/c Dr. 150 -----

Stationery A/c Dr. 300 -----
To Cash A/c ----- 450
( Being expenses paid in cash )

05 Computer A/c Dr. 30,500 -----

To Cash A/c ----- 30,500
( Being Computer purchased and spent
For its installation in cash )

08 Investment in Shares of Zee Ltd. A/c Dr. 6,120 -----

To Bank A/c ----- 6,120
( Being amount Invested in Shares of Zee
Ltd. And amount paid by Bank )

11 Investment in 10 % Debentures of
ABC Ltd. A/c Dr. 10,000 -----
To Bank A/c ----- 10,000
( Being Invested in 10 % Debentures of
ABC Ltd. And amount paid by cheque )

15 Purchases A/c Dr. 15,200 -----

To Cash A/c ----- 14,896
To Discount Received A/c ----- 304
( Being purchases goods @ 5 % T. D. &
2 % C. D. In cash )
18 Advance to Steel Merchants A/c Dr. 5,000 -----
To Cash A/c ----- 5,000
( Being order placed for Machinery and
part amount paid as an advance )

22 Manisha’s A/c Dr. 12,100 -----

To Sales A/c ----- 12,000
To Cash A/c ----- 100
( Being sold goods to Manisha on credit
& paid carriage on his behalf )

25 Machinery A/c Dr. 15,000 -----

To Cash A/c ----- 9,500
To Advance to Steel Merchants A/c ----- 5,000
To Discount Received A/c ----- 500
( Being Machinery received from Steel
Merchants paid them balance amount &
Discount Received from them )

26 Machinery A/c Dr. 1,000 -----

To Cash A/c ----- 1,000
( Being cash paid for installation charges
Of new machinery purchased )

29 Salaries A/c Dr. 8,000 -----

Rent A/c Dr. 3,000 -----
Wages A/c Dr. 500 -----
To Cash A/c ----- 11,500
( Being cash paid for business expenses)

31 Cash A/c Dr. 250 -----

To Commission Received A/c ----- 250
( Being cash received as commission
From Ajay )

Total ₹ 2,82,120 2,82,120

Q. 8. Solution:

Journals of Abhay

Date Particulars L. Dr. Cr.

F. ₹ ₹
2010
March,
01 Cash A/c Dr. 1,860 -----
Discount Allowed A/c Dr. 90 -----
To Varun’s A/c ----- 1,950
 ( Being cash received & discount allowed )

03 Purchases A/c Dr. 20,900 -----

To Cash A/c ----- 20,900
( Being purchases goods @ 5 % T. D. )

04 Meenakshi’s A/c Dr. 10,000 -----

To Sales A/c ----- 10,000
( Being sold goods on credit )

07 Machinery A/c Dr. 14,500 -----

To Cash A/c ----- 14,500
( Being machinery purchased in cash paid
for installation charges for it )

08 Refreshments A/c Dr. 200 -----

To Cash A/c ----- 200
( Being cash paid for Refreshments given
To staff )

11 Cash A/c Dr. 9,950 -----

Discount Allowed A/c Dr. 50 -----
To Meenakshi’s A/c ----- 10,000
( Being cash received & discount allowed )

15 Telephone Bill A/c Dr. 2,000 -----

Drawings A/c Dr. 600 -----
To Bank A/c ----- 2,600
( Being amount paid for business and
Personal expenses )

18 Cash A/c Dr. 7,200 -----

To Capital A/c ----- 7,200
( Being sold personal asset and amount
Invested in Business )

20 Bonus to Staff A/c Dr. 6,000

To Cash A/c 6,000
( Being cash paid for bonus to staff )

23 Cash A/c Dr. 1,000 -----

To Bad – Debts Recovered A/c ----- 1,000
( Being bad debts recovered )

26 Advance for Furniture A/c Dr. 2,000 -----

To Cash A/c ----- 2,000
( Being order placed for furniture and paid
part amount as an advance )
28 Cash A/c Dr. 420 -----
To Interest on Investment A/c ----- 420
( Being amount received as Interest on
Investment )

31 Drawings A/c Dr. 3,000 -----

To Bank A/c ----- 3,000
( Being withdrawn cash from Bank for
personal use )

Total ₹ 79,770 79,770

Q. 9. Solution:

Journals of Shri Dhananjay

Date Particulars L. Dr. Cr.

F. ₹ ₹
2008
April,
01 Cash A/c Dr. 60,000 -----
Stock of Goods A/c Dr. 28,000 -----
Machinery A/c Dr. 75,000 -----
Furniture A/c Dr. 15,000 -----
To Creditors A/c ----- 20,000
To Amit’s Loan A/c ----- 50,000
To Capital A/c ----- 1,08,000
( Being started business with cash, assets
And liabilities )

02 Neenad’s A/c Dr. 8,640 -----

To Sales A/c ----- 8,640
( Being sold goods on credit @ 4 % T. D.)

05 Cash A/c Dr. 9,800 -----

Discount Allowed A/c Dr. 200 -----
To Sales A/c ----- 10,000
( Being goods sold in cash @ 2 % C. D. )

08 Anilket’s A/c Dr. 4,400 -----

To Cash A/c ----- 4,250
To Discount Received A/c ----- 150
( Being amount paid to Aniket and
Discount Received from him )

10 Cash A/c Dr. 8,600 -----

Discount Allowed A/c Dr. 40 -----
 To Neenad’s A/c ----- 8,640
( Being cash received from Neenad and
Allowed Discount to him )

12 Bank A/c Dr. 13,965 -----

Discount Allowed A/c Dr. 285 -----
To Sales A/c ----- 14,250
( Being goods sold for cash @ 5 % T. D. )
@ 2 % C. D. & amount received by
cheque )

15 Drawings A/c Dr. 500 -----

To Cash A/c ----- 500
( Being cash paid for self use )

18 Drawings A/c Dr. 10,000 -----

To Cash A/c ----- 10,000
( Being cash paid for self use )

19 Purchases A/c Dr. 27,000 -----

To Cash A/c ----- 9,000
To Bank A/c ----- 18,000
( Being purchases goods @ 10 % T. D.
Paid 1/3 amount in cash and remaining
By cheque )

22 Stationery A/c Dr. 200 -----

To Cash A/c ----- 200
( Being stationery purchases in cash )

25 Advertisement / Free samples A/c Dr. 400 -----

To Purchases A/c ----- 400
( Being goods distributed as free samples )

28 Vishal’s A/c Dr. 8,100 -----

To Sales A/c ----- 8,000
To Cash A/c ----- 100
( Being invoiced goods to Dinanath on
Vishal’s behalf & also paid carriage for it )

30 Amit’s Loan A/c Dr. 5,000 -----

To Cash A/c ----- 5,000
( Being cash paid for loan intaallment )

Total ₹ 2,75,130 2,75,130