Assignment-Journal (I)

  

Q-1. Following are the few Examples to see whether we have understood the above rules:

1. Raja Started business with cash Rs 80,000.

2. Purchased goods on cash Rs 20,000.

3. Purchased goods on credit (X)Rs 15,000.

4. Purchased Furniture (cash) Rs 10,000.

5. Paid Rent Rs 500.

6. Paid Salary Rs 2000

7. Deposited into Bank Rs 5000.

8. Paid X by cheque Rs 10000.

9. Withdrawn money for Private use Rs 2500.

10. Paid Telephone bills by cheque Rs 1000.

Q-2.  Journalise the Following :

1. Withdraw from Bank from office use Rs 5000.

2. Withdraw from Bank for Personal use Rs 5000.

3. Paid Rent by Cheque Rs 2000.

4. Goods withdrawn for Personal use Rs 2500.

5. Paid Advance to suppliers of goods Rs 2000.

6. Recieved advance from customer Rs 3500.

7. Interest allowed by the Bank Rs 1500.

8. Interest Charged by the Bank Rs 500.

Q-3. Journalise the Books of furniture Dealer:

1. Goods for Personal use { sale price Rs 1000,cost price Rs 800 }

2. Goods Costing Rs 500 distributed as sample.

3. Goods Stolen {cost Rs 400,Sale Price Rs 500}

4. Goods Costing Rs 500 given as charity.

5. Furniture Costing Rs 500 used in Office.

6. Purchased Machineries Rs 5000 and gave a Cheque and Installation Charges Rs100 by Cheque.

7. Paid Rs 975 to vijay on Account of Rs 1000.

8. Received Rs 975 From Hari Krishan in full Settlement of Rs 1000.

9. Paid Rs 975 to Naresh in full Settlement of Rs 1000.

Q-4. Make Journal Entries for the Following:

1. Received 60 Paise in a Rupee From Mr. Rajan,who owed Rs 1000.

2. Rs 125 Owed by Ramesh Written off as Bad Debts.

3. Recieved cash from a Bad debt Written off Rs 500.

4. Allowed Interest on Capital Rs 6000.

5. Charged Interest on Drawings Rs 550.

6. Rent due to Land-Lord Mr.Ram Rs 80.

7. Salary due to Employee Rs 500.

8. Paid Rent in Advance Rs 100.

9. Rent in Advance to be Adjusted Rs 200.

Q-5. Make Journal Entries for the Following :

1. Ram was declared insolvent .A Dividend of 60 Paise in a Rupee was Received from his estate out of a debt Rs 1500.

2. An Amount Written off as Bad debts now Recovered Rs 1000.

3. Rs 50,000 taken as loan from Bank.

4. Repairs Rs 500 not yet Paid .

5. Sales Returns Rs 250 by Arjun Kumar.

6. Depreciation on Building Rs 5000.

7. Salary outstanding Rs 2500.

8. Bank Charged Rs 50 as its Charges .

9. Ramesh take goods of Rs 100 Purchased through him and immediately refunds back the money.