Pass the Journal Entries
1. Mohan Started business with cash Rs. 100000, Loan from Mr. Hari Rs. 50000, Goods taken
from His Friends of Rs. 45000 and one computer of Rs. 25000 Which is his own on 1 st June
2010.
2. Open a current account in Union Bank of India with cash of Rs. 15000 on 2 nd June.
3. Purchased Goods worth Rs. 40000 from Rahim and paid him half by cheque on 3 rd June.
4. Purchase Stationary for the office use of Rs. 1000 on 4th June.
5. Sold good to Mr. Sahil of Rs. 35000 and Allowed 1 ½ % discount on 5 th June.
6. Paid by cheque Rs. 20000 to Friend for Goods from own pocket on 7 th June.
7. Paid advance Salary to Mr. Rohit one of your employee Rs. 5000 on 8 th June.
8. 10th June Purchase a Safe for office use Rs. 12000.
9. Sold goods on Credit basis to Mr. Sumit of Rs. 50000 at Invoice Price Less 5% TD on 11 th
June.
10. Returned goods to Rahim of Rs. 2000 on 15th June.
11. Goods returned by Mr. Sahil of Rs. 3000 on 15th June.
12. Paid to Rahim Less 3% Cash Discount On 16th June.
13. Deposited in to bank Rs. 30000 on 16th June.
14. Paid Wages for Construction of canteen of Rs. 30000 by cash on 17 th June.
15. Purchased Goods of Rs. 20000 and Paid Freight of Rs. 500 for the same on 17 th June.
16. Purchase a Car of Rs. 300000 and 80 % Loan is approved and rest paid by cash on 18 th
June.
17. 20th June Cashier Stolen Rs. 10000 from Office.
18. Received from Mr. Sahil on 21st June Less 3% for full settlement by Cheque.
19. Deposited Cheque in to bank on 23rd June of Mr. Sahil.
20. Bank Intimate that Cheque of Mr. Sahil Dishonor on 24th June.
21. Mr. Sumit paid 60 Paisa in a Rupee due to insolvency on 25 th June.
22. 26th June placed an order to Mr. Ramesh for Rs. 45000.
23. 27th June Paid Electricity charges, Salary and Insurance of Rs. 3500, 6000, and 2000 by
cheque.
24. Goods given as charity to a trust of Rs. 3500 on 27th June.
25. Expenses for Tour and Travel for Personal Work Paid by Cheque of Rs. 5000 on 28 th June.
26. Withdraw from Bank Rs. 8500, half amount for payment of Office exp. And half for personal
use on 29th June.
27. Received Payment from Mr. Sahil by cash on 30th June.
Pass Journal Entries -
1 Business started with cash of Rs. 1, 00,000 and goods of Rs. 50,000, Furniture of Rs.
10,000 and Creditors of Rs. 30,000 on 1st September 2008.
2 Open a Bank account with cash of Rs. 50,000 on 5th September.
3 Purchase Goods of Rs. 65,000 from Mr. X and Paid 60% in Cash on 7 th September.
4 Purchase a Machine of Rs. 45,000 and payment made by Cheque 7 th September.
5 Sold goods of Rs. 40,000 to Mr. Y at trade discount of 5% 9th September.
6 Paid Advance Salary for the month of October Rs. 12,000 on 10th September.
7 12th September paid insurance premium 2% on cost of machine.
8 Deposited in to bank A/C of the business Rs. 5,000 earned by the Proprietor in his
personal capacity on 15th September.
9 Paid to Mr. X less 5% on 17th September.
10 Goods returned by Mr. Y of Rs. 2,500 on 18th September.
11 Received a Cheque of Rs. 10,000 against Commission in advance on 20 th September and
sent in to bank next day.
12 Paid life insurance premium on 21st September of Rs. 4,000 through ECS facility.
13 Purchase Goods of Rs. 40,000 on credit basis from Mr. A on 22 nd September.
14 Sold goods on 24th September to Mr. B of Rs. 45,000 @ 2% discount. He paid 30% in cash
on which we allow 5% Cash Discount.
15 Depreciation Charged on machine @ 5% on 26th September.
16 27th September Purchase goods of Rs. 35,000, out of this goods amounting to Rs. 30,000
were insured. Goods amounting to Rs. 8,000 are lost by fire, out of the insured goods but
loss is only Rs. 6,500. Insurance Company accepted this Claim and made the Payment.
17 Received from Mr. Y only 60 paisa in a rupee on 28th September.
18 With draw goods of Rs. 2,000 and Cash Rs. 5,000 for personal use on 29 th September.
19 Paid Wages on 29th September by cheque of Rs. 2,300.
20 Withdraw from bank for payment of Staff Salary of Rs. 25,000 on 30th September.
21 Purchase Furniture for Office use on 30 th September of Rs. 20,000 and paid Cartage of Rs.
200 for the same.
22 On 30th September received from Mr. B less 2% for the full settlement of the accounts.
23 Goods distributed as free sample of Rs. 3,000 on 30th September.
24 Paid Telephone Bill and Mobile Bill for the previous month of Rs. 5,000 and 2,500
respectively on 4th October.
25 Purchase Goods of Rs. 25,000 for cash and Sold Goods of Rs. 30,000 to Mr. S on 7 th
October.
