Financial Accounting Journalise Transactions Question And Answers Homework Help
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1. Journalise the following transactions
|Apr 1, 2009||Capital Rs 2,00,000; Debtors — Rs 20,000; Cash-in-hand — Rs 5,000; Cash at Bank — Stock Rs 7,000; Creditors Rs 25,000; Rs 15,000; Machinery Rs 1,50,000; Furniture and Fixtures — Rs 25,000.|
|Apr 2, 2009||Received Rs 1,500 from Mohamed in full settlement of his account Rs 2,000.|
|Apr 3, 2009||Received Rs 1,500 from Xavier on his account for Rs 2,000.|
|Apr 4, 2009||Paid Rs 1,400 to Guru in full settlement of his account for Rs 1500.|
|Apr 5, 2009||Paid Rs 1,400 to Veer Singh on his account for Rs 1,500.|
|Apr 6, 2009||Received a first and final dividend of 70 paise in the rupee from the official receiver of Mr. Rao who owed Rs 3,000.|
|Apr 7, 2009||Wages paid Rs 1000 for erection of plant.|
2. Journalise the following transaction in the books of Govind. Post them in the ledger and balance the various accounts opened in the ledger.
|2009||Apr 1||Govind commenced business with the following assets and liabilities.|
|Apr 4||Sold goods to Kamal Rs 1,15,000.|
|Apr 7||Bought goods from Ajay Rs 75,000.|
|Apr 9||Paid to Ajay Rs 50,000 on account.|
|Apr 11||Withdraw cash for personal use Rs 3,500.|
|Apr 13||Received Commission Rs 6,000.|
|Apr 15||Furniture purchased Rs 9,000.|
|Apr 17||Brought in additional capital Rs 25,000.|
|Apr 18||Issued a cheque for rent Rs 6,000.|
|Apr 19||Drew from bank for personal use Rs 4,000.|
|Apr 21||Paid life insurance premium Rs 1,327.|
3. Journalise the following transaction:
1 – Business started with cash 8,000 and plant & machinery 3,000.
2 – Stock purchase for sale (cash purchase)= 3,000, credit purchase = 5,000
3 – Wages paid 120,000(including 20,000 of future year).
4 – Salary paid 200,000 but due 110,000.
5 – Sale made for cash 600,000 & on credit 800,000.
6 – Depreciation 10 percent on plant & machinery.
7 – Goods costing 20,000 destroyed by fire.
8 – Payment made to creditor of 200,000 at 10 percent discount.
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4. Prepare journal for the following
1. purchased furniture for Rs.25000/- and paid Rs.200/- for its carriage
2. Goods worth Rs1500/- and cash Rs500/- were given as charity
3. Wages due to laborer’s Rs5000/-
4. Received cash Rs.2000/- from Tushar for bad-debts written off last year
5.If you receive some amount of cash from someone and in the same day you deposit half of the total amount in bank, what will be The journal entry for that?
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