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50 Journal Entries

The document records 50 accounting transactions for Ram's business. It records the purchase and sale of goods and assets for cash and credit. It also records receipts and payments of cash, including payment to suppliers, wages, rent, insurance premium and loan interest. Transactions include additional capital introduction, bank deposits, cheque receipts and payments, and bad debts.

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Ashish Gupta
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34K views8 pages

50 Journal Entries

The document records 50 accounting transactions for Ram's business. It records the purchase and sale of goods and assets for cash and credit. It also records receipts and payments of cash, including payment to suppliers, wages, rent, insurance premium and loan interest. Transactions include additional capital introduction, bank deposits, cheque receipts and payments, and bad debts.

Uploaded by

Ashish Gupta
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
  • Accounting Transactions: This section contains a continuous list of transactions meant for accounting exercises or practice, detailing various financial entries and account movements.

Created by Online2PDF.

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1.
Ram started business with cash Rs. 5,00,000
Cash a/c
Dr
5,00,000
To Capital a/c
5,00,000
2.
Goods purchase for cash Rs. 4,000.
Purchase a/c
Dr
4,000
To Cash a/c
4,000
3.
Goods purchase from Mohan for cash Rs. 3,000.
Purchase a/c
Dr
3,000
To Cash a/c
3,000
4.
Goods purchase from Mohan on credit Rs. 4,000.
Purchase a/c
Dr
4,000
To Mohan a/c
4,000
5.
Cash paid to Mohan Rs. 4,000.
Mohan a/c
Dr
4,000
To Cash a/c
4,000
6.
Goods purchase from Anil Rs. 6,000.
Purchase a/c
To Anil a/c
7.

Dr

Cash paid to Anil Rs. 5,000.

6,000
Anil a/c
Dr
5,000
To Cash a/c
5,000
8.
Furniture purchase for cash Rs. 8,000.
Furniture a/c
Dr
8,000
To cash a/c
8,000
9.
Machinery purchase from sunil on credit Rs. 5,000.
Machinery a/c
Dr
5,000
To Sunil a/c
5,000
10.
Goods sold for cash Rs. 5,000.
Cash a/c
Dr
5,000
To Sales a/c
5,000
11.
Goods sold to Ramesh on credit Rs. 6,000.
Ramesh a/c
Dr
6,000
To Sales a/c
6,000
12.
Cash received from Ramesh Rs. 4,000.
Cash a/c
Dr
4,000
To Ramesh a/c
4,000
13
Goods sold to Rakesh Rs. 5,000.
Rakesh a/c
Dr
5,000
To Sales a/c
5,000
14.
Cash received from Rakesh Rs. 4,000.
Cash a/c
Dr
4,000
To Rakesh a/c
4,000

6,000

15.
Old furniture sold for cash Rs. 1,000.
Cash a/c
Dr
1,000
To Furniture
1,000
16.
Salary paid Rs. 800.
Salary a/c
Dr
800
To Cash a/c
800
17.
Rent paid Rs. 900.
Rent a/c
Dr
900
To Cash a/c
900
18.
Wages paid Rs. 500.
Wages a/c
Dr
500
To Cash a/c
500
19.
Goods return to Anil Rs. 700.
Anil a/c
Dr
700
To Purchase return
700
20
Goods return by Rakesh Rs. 600.
Sales return a/c
Dr
600
To Rakesh
600
21.
Commission Received Rs. 2,000.
Cash a/c
Dr
2,000
To Commission
2,000
22.
Goods purchase from Ashok on credit Rs. 1,000.
Purchase a/c
Dr
1,000
To Ashok a/c
1,000
23.
Cash paid to Ashok in full settlement Rs. 950.
Ashok a/c
Dr
1,000
To Cash a/c
950
To Discount a/c
50
24.
Goods sold to Mahesh Rs. 5,000.
Mahesh a/c
Dr
5,000
To Sales a/c
5,000
25.
Cash received from Mahesh in full settlement Rs. 4900.
Cash a/c
Dr
4900
Discount a/c
Dr
100
To Mahesh
5000
26.
Depreciation charge on Machinery Rs. 600 & Furniture Rs. 200.
Depreciation a/c
Dr
800
To Machinery
To Furniture
27.
Goods worth Rs. 600 given as free Sample.
Free sample a/c Dr
600
To Purchase a/c
600
28.
Goods worth Rs. 800 given as charity.
Charity a/c
Dr
800

600
200

To Purchase a/c
800
29.
Goods worth Rs. 600 lost by fire.
Loss by fire a/c Dr
600
To Purchase a/c
600
30.
Goods worth Rs. 1000 lost by fire, Insurance Co. pays Rs. 600.
Cash a/c
Dr.
600
Loss by fire a/c
Dr.
400
To Purchase a/c
1000
31.
Goods sold to Ramesh on credit Rs. 1000.
Ramesh a/c
Dr.
1000
To Sales a/c
1000
32.
Ramesh become insolvent and 60% amount received as final payment.
Cash a/c
Dr.
600
Bad debts a/c
Dr.
400
To Ramesh
1000
33.
Rs. 300 recovered which were originally Bad debts.
Cash a/c
Dr
300
To Bad debts recovered a/c
300
34.
Goods sold to Ramesh on credit Rs. 2000 & 10% trade discount allowed.
Ramesh a/c
Dr
1800
To Sales a/c
1800
35.
Mohan Purchased goods from us Rs. 1000.
Mohan a/c
Dr
1000
To Sales
1000
36.
Cash received from Mohan in full settlement Rs. 900.
Cash a/c
Dr
900
Discount a/c
Dr
100
To Mohan
1000
37.
Interest on capital allowed Rs. 750.
Interest on capital a/c Dr
750
To Capital a/c
750
38.
Loan Received Rs.5,000
Cash a/c
Dr
5000
To Loan a/c
5000
39.
Interest on loan Rs. 500 paid.
Interest on loan a/c
Dr
500
To Cash a/c
500
40.
Life insurance premium of prop writer paid Rs. 1500.
Drawings a/c
Dr
1500
To Cash a/c
1500
41.
Additional capital introduced by owner Rs. 20,000.
Cash a/c
Dr
20000
To Capital a/c
20000
42.
Cash deposited into bank Rs. 15,000.
Bank a/c
Dr
15000

To Cash a/c
15000
43.
Salary paid by cheque Rs. 800.
Salary a/c
Dr
800
To Bank a/c
800
44.
Cash sales Rs. 2000 & deposited into bank on same day.
Bank a/c
Dr
2000
To Sales a/c
2000
45.
Bank charges charged by bank Rs. 50.
Bank charge a/cDr
50
To Bank a/c
50
46.
Goods sold to Raman Rs. 1000 & cheque received on same day.
Cash a/c
Dr
1000
To Sales a/c
1000
47.
Above cheque deposited into bank .
Bank a/c
Dr
1000
To Cash a/c
1000
48.
Goods sold to Rajesh Rs. 500 & cheque received & deposited into bank on same day.
Bank a/c
Dr
500
To Sales a/c
500
49.
Cash paid to Ram Rs. 500 on behalf of mohan.
Mohan a/c
Dr
500
To Cash a/c
500
50.
Rs. 1000 directly deposited by Kamal in our Bank a/c.
Bank a/c
Dr
1000
To Kamal a/c
1000

nk on same day.

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