Assignment- Journal (II)

Q-1 Journalise the Following Transactions:

          1.   ABC ltd. Commenced business with cash 50,000.

          2.   Purchased goods for cash Rs 10,000.

          3.   Purchased goods from Mohan Rs 5,000.

          4.   Purchased Furniture for cash Rs 2000.

          5.   Sold goods for cash Rs 7000.

          6.   Sold goods to Ram Rs 5000.

          7.   Paid Wages Rs 800 and rent paid Rs 700.

          8.   Ram returned goods for Rs 1000.

          9.   Paid into Bank Rs 2100.

        10.  Return Outward Worth Rs 700.

        11.    Purchased goods for Rs 1000 and received Discount of Rs 50.

        12.    Sold goods Worth Rs 1500 and allowed a Discount of Rs 150.

        13.    Goods taken by the Proprietor for his Personal use of Rs 1400.

        14.    Salary Payable to Ankit of Rs 1200.

        15.     Income Tax Paid of Rs 500.

        16.     Bank Charged for of services Rs 450 and allowed interest Rs 650.

        17.     Goods given as charity Rs 5,000.

        18.     ABC ltd. Received advance Rs 1500 for delivered goods after a month.

        19.     Paid customs duty Rs 1100 in cash on import of a New Machinery.

        20.   Provided Interest on Capital of Rs 1000 and Charged interest of Drawing of Rs 1500.

        21.      Goods lost by fire of Rs 5000 and insurance co. Provide claim of Rs 4000.

        22.      Out of Insurance Paid this year, Rs 15000 relate to next year.

        23.       Paid errection expenses on Machine Rs 5000.

        24.       Issue cheque for rent Rs 4000.

        25.      Withdrawn cash from bank for Domestic Purpose of Rs 2500.

        26.      Purchased goods from Sonu Rs 2000 less Trade Discount at 20% plus VAT @ 10%.

       27.      Sold goods costing Rs 7000 to Krish for Rs 9000 plus VAT @ 10%.

       28.      VAT was deposited into Government Account on due date.

       29.      Sohan is declared insolvent. Recieved from his Official Receiver a Dividend of 60 Paise in the rupee on a debt Rs 1000.

       30.    Purchased goods from Sanjay of Rs 40,000 at terms 10% Trade Discount and 5% cash Discount. Paid amount at the time of Purchase itself.

       31.    Sold goods to Anil Rs 20,000, allowed him 10% Trade Discount and 10% cash Discount.