Recording Of Transactions – I – Journalising Solutions

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This page contains solutions to journalising numerical questions. If you are looking for answers to the theoretical questions or solutions to accounting equation numerical questions or solutions to posting numerical questions, you can find them at
  1. Answers to Theoretical Questions
  2. Accounting Equation Numerical Questions Solutions
  3. Posting Numerical Questions Solutions
  4. Tips for Accounting Equation, Journalizing and Posting
Analysis of Transactions – Journalising – Numerical Questions
11. Journalize the following transactions in the books of Himanshu:

2014   Rs.
Dec.01 Business started with cash 75,000
Dec.07 Purchased goods for cash 10,000
Dec.09 Sold goods to Swati 5,000
Dec.12 Purchased furniture 3,000
Dec.18 Cash receieved from Swati In full setlement 4,000
Dec.25 Paid rent 1,000
Dec.30 Paid salary 1,500

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Books of Himanshu Journal
Date Particulars L.F Debit
Amount
₹		 Credit
Amount
₹
Dec.01 Cash A/CDr.
To Capital A/C
(Being Business started with cash) 		  75,000 75,000
Dec.07 Purchase A/CDr.
To Cash A/C
(Being goods Purchased goods for cash)		   10,000 10,000
Dec.09 Swati A/CDr.
To Sales A/C
(Being Goods sold to Swati)		   5,000 5,000
Dec.12 Furniture A/CDr.
To Cash A/C
(Being furniture purchased)		   3,000 3,000
Dec.18 Cash A/C   4,000  
  Discount Allowed A/CDr.
To Swati A/C
(Being cash received from Swati in full settlement)		   1,000 5,000
Dec.25 Rent A/CDr.
To Cash A/C
(Being rent paid)		   1,000 1,000
Dec.30 Salary A/CDr.
To Cash
(Being salary paid)		   1,500 1,500
   Total c/f   1,00,500 1,00,500

12. Enter the following transactions in the journal of Mudit:

2015   Rs.
Jan.01 Commenced business with cash 1,75,000
Jan.01 Building 1,00,000
Jan.02 Goods purchased for cash 75,000
Jan.03 Sold goods to Ramesh 30,000
Jan.04 Paid wages 500
Jan.06 Sold goods for cash 10,000
Jan.10 Paid for trade expenses 700
Jan.12 Cash received from Ramesh
Discount allowed		 29,500
500
Jan.14 Goods purchased from Sudhir 27,000
Jan.18 Cartage paid 1,000
Jan.20 Drew cash for personal use 5,000
Jan.22 Goods use for house hold 2,000
Jan.25 Cash paid to Sudhir
Discount received		 26,700
300

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Books of Mudit Journal
Date Particulars L.F Debit
Amount
₹		 Credit
Amount
₹
Jan.01 Cash A/CDr.   1,75,000  
  Building A/CDr.
To Capital A/C
(Being Business started with cash and building)		   100,000 2,75,000
Jan.02 Purchases A/CDr.
To Cash A/C
(Being goods purchased for cash)		   75,000 75,000
Jan.03 Ramesh A/CDr.
To Sales A/C
(Being goods sold to Ramesh)		   30,000 30,000
Jan.04 Wages A/CDr.
To Cash A/C
(Being wages paid)		   500 500
Jan.06 Cash A/CDr.
To Sales A/C
(Being goods sold for cash)		   10,000 10,000
Jan.10 Trade Expenses A/CDr.
To Cash A/C
(Being trade expenses paid)		   700 700
Jan.12 Cash A/CDr.   29,500  
  Discount Allowed A/CDr.
To Ramesh A/C
(Being cash received from Ramesh in full settlement)		   500 30,000
Jan.14 Purchases A/CDr.
To Sudhir A/C
(Being goods purchased from Sudhir on credit)		   27,000 27,000
Jan.18 Cartage A/CDr.
To Cash A/C
(Being cartage paid)		   1,000 1,000
Jan.20 Drawings A/CDr.
To Cash A/C
(Being cash withdrawn for self)		   5,000 5,000
Jan.22 Drawings A/CDr.
To Purchases A/C
(Being goods withdrawn for household use)		   2,000 2,000
Jan.25 Sudhir A/CDr.
To Discount Received A/c
To Cash A/C
(Being cash paid to Sudhir and received discount)		   27,000 300
26,700
   Total c/f   4,83,200 4,83,200

13. Journalize the following transactions:

2014   Rs.
Dec.01 Hema started business with cash 1,00,000
Dec.02 Open a bank account with SBI 30,000
Dec.04 Purchased goods from Ashu 20,000
Dec.06 Sold goods to Rahul for cash 15,000
Dec.10 Bought goods from Tara for cash 40,000
Dec.13 Sold goods to Suman 20,000
Dec.16 Received cheque from Suman 19,500
  Discount allowed 500
Dec.20 Cheque given to Ashu on account 10,000
Dec.22 Rent paid by cheque 2,000
Dec.23 Deposited into bank 16,000
Dec.25 Machine purchased from Parigya 10,000
Dec.26 Trade expenses 2,000
Dec.28 Cheque issued to Parigya 10,000
Dec.29 Paid telephone expenses by cheque 1,200
Dec.31 Paid salary 4,500

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Journal
Date Particulars L.F Debit
Amount
₹		 Credit
Amount
₹
Dec.01 Cash A/CDr.
To Capital A/C
(Being business started with cash)		   1,00,000 1,00,000
Dec.02 Bank A/CDr.
To Cash A/C
(Being bank account opened with SBI)		   30,000 30,000
Dec.04 Purchases A/CDr.
To Ashu A/C
(Being goods purchased from Ashu)		   20,000 20,000
Dec.06 Cash A/CDr.
To Sales A/C
(Being goods sold to Rahul for cash)		   15,000 15,000
Dec.10 Purchases A/CDr.
To Cash A/C
(Being goods bought from Tara for cash)		   40,000 40,000
Dec.13 Suman A/CDr.
To Sales A/C
(Being goods sold to Suman)		   20,000 20,000
Dec.16 Bank A/CDr.   19,500  
  Discount allowed A/CDr.
To Suman
(Being cheque received from Suman and discount allowed)		   500 20,000
Dec.20 Ashu A/CDr.
To Bank A/C
(Being cheque given to Ashu on account)		   10,000 10,000
Dec.22 Rent A/CDr.
To Cash A/C
(Being rent paid by cheque)		   2,000 2,000
Dec.23 Bank A/CDr.
To Cash A/C
(Being cash deposited into bank)		   16,000 16,000
Dec.25 Machine A/CDr.
To Parigya A/C
(Being machine purchased from Parigya)		   10,000 10,000
Dec.26 Trade Expenses A/CDr.
To Cash A/C
(Being trade expense paid in cash)		   2,000 2,000
Dec.28 Parigya A/CDr.
To Bank A/C
(Being cheque issued to Parigya)		   10,000 10,000
Dec.29 Telephone expenses A/CDr.
To Bank A/C
(Being telephone expenses paid by cheque)		   1,200 1,200
Dec.31 Salary A/CDr.
To Cash A/C
(Being salary paid in cash)		   4,500 4,500
   Total c/f   3,00,700 3,00,700

14. Journalize the following transactions in the books of Harpreet Bros.:

  1. ₹ 1,000 due from Rohit are now bad debts
  2. Goods worth ₹ 2,000 were used by the proprietor.
  3. Charge depreciation @ 10% p.a for two months on machine costing ₹ 30,000
  4. Provide commission on capital of ₹ 1,50,000 at 6% p.a for 9 months
  5. Rahul who owed ₹ 2,000 became insolvent. A final dividend of ₹ 60 paise in a rupee is received from his estate.

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Journal
Date Particulars L.F Debit
Amount
₹		 Credit
Amount
₹
(a) Bad Debt A/CDr.
To Rohit A/C
(Amount due from Rohit is now bad debt.)		   1,000 1,000
(b) Drawings A/CDr.
To Purchases A/C
(Goods drawn by the proprietor)		   2,000 2,000
(c) Depreciation A/CDr.
To Machine A/C
(Charge depreciation @ 10% p.a for two months on machine costing ₹30,000)		   500 500
(d) Commission A/CDr.
To Capital A/C
(commission on capital of ₹1,50,000 at 6% p.a for 9 months)		   6,750 6,750
(e) Cash A/CDr.
   1,200  
  Bad Debt A/CDr.
To Rahul A/C
(Rahul who owed ₹ 2,000 became insolvent. A final dividend of 60paise is received from his estate.)		   800 2000
   Total c/f   12,250 12,250



15. Prepare Journal from the transactions given below:

  1. Cash paid for installation of machine ₹ 500
  2. Goods given as charity ₹ 2,000
  3. Interest charge on capital @7% p.a. when total capital was ₹ 70,000
  4. Received ₹ 1,200 of a bad debts written-off last year.
  5. Goods destroyed by fire ₹ 2,000
  6. Rent outstanding ₹ 1,000
  7. Interest on drawings ₹ 900
  8. Sudhir Kumar who owed me ₹ 3,000 has failed to pay the amount. He pays me a compensation of ₹ 45 paise in a rupee.
  9. Commission received in advance ₹ 7,000

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Journal
Date Particulars L.F Debit
Amount
₹		 Credit
Amount
₹
(a) Machine A/CDr.
To Cash A/C
(Cash paid for installation of machine ₹500)		   500 500
(b) Charity A/CDr.
To Purchases A/C
(Goods given as charity ₹2,000)		   2,000 2,000
(c) Interest on Capital A/CDr.
To Capital A/C
(Interest received on capital @7% p.a. when total capital was ₹70,000)		   4,900 4,900
(d) Cash A/CDr.
To Bad Debts Recovered A/C
(Received ₹1,200 of a bad debts written-off last year)		   1,200 1,200
(e) Loss of Goods A/CDr.
To Purchases A/C
(Goods destroyed by fire ₹2,000)		   2,000 2,000
(f) Rent A/CDr.
To Rent Outstanding A/C
(Rent outstanding ₹1,000)		   1,000 1,000
(g) Drawings A/CDr.
To Interst on Drawings A/C
(Interest on drawings ₹900)		   900 900
(h) Cash A/CDr.   1,350  
  Bad Debt A/CDr.
To Sudhir Kumar A/C
(Sudhir Kumar who owed me ₹3,000 has failed to pay the amount. He pays me a compensation of ₹ 45 paise in a rupee)		   1,650 3,000
(i) Cash A/CDr.
To Commission in Advance A/C
(Commission received in advance ₹7,000)		   7,000 7,000
   Total c/f   22,500 22,500

You might also want to refer the following pages.

  1. Introduction to Accounting
  2. Theory Base of Accounting
  3. Recording of Transactions – I
    1. Answers to Theoretical Questions
    2. Accounting Equation Numerical Questions Solutions
    3. Journalising Numerical Questions Solutions
    4. Posting Numerical Questions Solutions
    5. Tips for Accounting Equation, Journalizing and Posting
  4. Recording of Transactions – II
  5. Bank Reconciliation Statement