Journal Entries questions for Practice

Journal Entries questions for Practice

Journal Entries questions for Practice

Question 1.

Pass Journal entries in the Journal of M/s Rakesh Kumar: 
April 1, 2021, Commenced business with cash ₹5,80,000.
April 4, 2021, Goods purchased for cash₹1,20,000.
April 6, 2021, Goods sold for cash ₹1,80,000.

April 10, 2021, Goods purchased on credit ₹90,000 from M/s Mukul.
April 12, 2021, Furniture purchased ₹13,000.
April 15, 2021, Goods sold on credit to Dinesh Kumar ₹1,60,000.

April 20, 2021, Cash paid to M/s Mukul ₹45,000
April 23, 2021, Cash received from Dinesh Kumar ₹80,000.

April 25, 2021, Amount withdrawn by the proprietor ₹14,000 for his personal use.
April 28, 2021, Salary paid  ₹15,000.
April 29, 2021, Wages paid ₹10,000.
April 30, 2021, Rent paid ₹5,000.

Golden Rules Of Accounting

Question 2.

Pass Journal entries in the Journal of M/s Suresh Kumar: 
May 1, 2021, Started business with cash ₹8,00,000.
May 2, 2021, Furniture purchased ₹10,000.
May 4, 2021, Goods purchased for cash₹2,50,000.
May 5, 2021, Machinery purchased ₹50,000.
May 6, 2021, Goods sold for cash ₹2,00,000.

May 10, 2021, Goods purchased on credit ₹2,90,000 from M/s Sanjay.
May 15, 2021, Goods sold on credit to Kumar ₹3,40,000.
May 20, 2021, Cash paid to M/s Sanjay ₹1,90,000
May 22, 2021, Goods sold for cash ₹1,90,000.
May 23, 2021, Cash received from Kumar ₹2,80,000.

May 25, 2021, Cash Deposited into the bank ₹50,000.
May 27, 2021, Carriage paid ₹8,000.

May 28, 2021, Salary paid  ₹20,000.
May 29, 2021, Wages paid ₹15,000.
May 30, 2021, Rent paid ₹12,000.
30 transactions with their Journal Entries, Ledger, Trial balance and Final Accounts- Project

Question 3.

Pass Journal entries in the Journal of M/s DK: 
May 1, 2021, Started business with cash ₹10,00,000.
May 2, 2021, Furniture purchased ₹50,000.
May 2, 2021, Computer purchased ₹50,000.
May 4, 2021, Goods purchased for cash₹3,50,000.
May 5, 2021, Machinery purchased ₹1,50,000.
May 6, 2021, Goods sold for cash ₹3,90,000.
May 8, 2021, Goods purchased for cash₹1,50,000.
May 10, 2021, Goods purchased on credit ₹3,90,000 from M/s Sanjay.
May 15, 2021, Goods sold on credit to Kumar ₹3,60,000.
May 20, 2021, Cash paid to M/s Sanjay ₹2,90,000
May 22, 2021, Goods sold for cash ₹2,10,000.
May 23, 2021, Cash received from Kumar ₹2,80,000.
May 25, 2021, Cash withdrawn from bank for office use ₹50,000.
May 6, 2021, Goods sold for cash ₹2,00,000.
May 30, 2021, Fire Insurance Premium paid ₹12,000.
May 27, 2021, Carriage paid ₹8,000.
May 28, 2021, Salary paid  ₹20,000.
May 29, 2021, Wages paid ₹15,000.
May 30, 2021, Rent paid ₹12,000.
May 31, 2021, Cash withdrawn from bank for personal use by proprietor ₹50,000.

Accounting journal entries practice

Journal Entries questions for Practice

Question 4.

Pass Journal entries in the Journal of M/s DK: 
May 1, 2021, Started business with cash ₹10,00,000.
May 2, 2021, Furniture purchased ₹50,000.
May 2, 2021, Computer purchased ₹50,000.
May 4, 2021, Goods purchased ₹3,50,000.
May 10, 2021, Goods purchased on credit ₹3,90,000 from M/s Deepak.
May 15, 2021, Goods sold on credit to Dinkar ₹2,20,000.
May 22, 2021, Goods returned to M/s Deepak ₹90,000.
May 25, 2021, Cash paid to M/s Deepak ₹3,00,000
May 26, 2021, Goods return from Dinkar ₹20,000.
May 30, 2021, Cash received from Dinkar ₹2,00,000.
May 31, 2021, Salary paid  ₹18,000.
May 30, 2021, Rent paid ₹8,000.

Question 5.

Enter the following transactions in the Journal of Rachit:- 

April 1, 2021, Rachit started a business with cash ₹90,000 and Machinery ₹40,000.

April 4, 2021, Goods purchased for cash ₹40,000.

April 5, 2021, Goods purchased on credit from –

 Jay & Company ₹60,000.

Vijay & Company ₹50,000.

April 10, 2021, Furniture Purchased for cash ₹20,000.

April 12, 2021, Goods sold for Cash ₹70,000

April 15, 2021, Goods sold on Credit to sanjoy₹95,000

April  16, 2021, Rent paid ₹5,000

April  20, 2021, Cash paid to Jay & Company ₹45,000.

April  25, 2021, Cash Received from sanjoy ₹65,000.

April  30, 2021, Salary paid ₹15,000, Wages paid ₹10,000.
Journal Entries questions for Practice

Journal Entries questions for Practice
Journal Entries questions for Practice

Question 6.

2021

July 1 Sanjay started business with cash ₹5,00,000 and Machinery ₹1,00,000.
July 3. Goods purchased for cash 80,000.
July 6 Goods Sold for cash ₹1,20,000.
July 10  Goods purchased  on credit form:   
Kumar ₹60,000

Ajay
40,000.
July 15  Goods Sold on credit to:   
Rakesh ₹90,000
Vijay ₹80,000.
July 16  Cash paid to:
Kumar ₹60,000
  Ajay 40,000.
July 19 Cash received from:   
Rakesh ₹90,000
  Vijay₹80,000.
July 31   Rent paid ₹4,000
  Wages paid 6,000
  Salary paid ₹10,000.
Journal Entries questions for Practice

Question 7.
2021

July 1 R.Chaher started business with cash ₹4,00,000  Machinery ₹2,00,000 and Furniture ₹80,000.

July 3. Goods purchased for cash₹1,90,000.
July 6 Goods Sold for cash ₹2,50,000.
July 10  Goods purchased  on credit form:
S.Kumar ₹90,000
R.Ajay 50,000.

July 15  Goods Sold on credit to:
V.Rakesh ₹95,000
  D.Vijay 80,000.

July 16  Cash paid to:  
S.kumar ₹60,000
R.Ajay 40,000.

July 19 Cash received from:   
V.Rakesh ₹95,000
  D.Vijay 80,000.

July 31   Rent paid ₹12,000
  Wages paid 8,000
  Salary paid ₹20,000.

Question 8.
Enter the following transactions in the Journal of Rachit

2021 

September 1, M/s Rachit started business with cash ₹ 4,00,000 and machinery ₹ 1,50,000.

September 4, Goods purchased for cash ₹80,000 at 20% trade discount.

September 7, Machinery Purchased for cash₹ 50,000 at 20% trade discount .

September 10, Goods sold for Cash ₹ 1,20,000 at 30% trade discount.

September 13, Goods purchased from Dinesh ₹80,000 at 25% trade discount.

September 15, Goods Sold to Mohit ₹1,80,000 at 25% trade discount.

September 20, Carriage paid on purchase of goods ₹5,000

September 25, Goods Purchased on credit From-

  Dinesh ₹ 35,000

  Suresh ₹ 25,000
Trade discount @20%.

September 26 Goods Sold on credit to-

  Sanjay ₹1,00,000

  Vijay ₹80,000
Trade discount @30%.

September 28 Salary paid ₹ 25,000, Rent paid ₹ 16,000.
Journal Entries questions for Practice

Question 9.

Enter the following transactions in the Journal of Kapil:
2021

September 1 Mr.Kapil Started business with cash ₹5,00,000.

September 5 Goods purchased ₹ 2,00,000 at 25% trade discount.

September 8Furniture Purchased for cash ₹ 50,000 at 20% trade discount.

September 11 Goods sold for Cash ₹ 3,00,000 at 45% trade discount.

September 14 Goods purchased from Dinesh ₹ 1,20,000 at 25% trade discount.

September 15 Goods Sold to Mahi ₹1,50,000 at 40% trade discount.

September 21 Wages  paid ₹ 15,000

September 26 Goods Purchased on credit From- Raji ₹ 40,000

September 27 Computer Purchased for Personal use ₹ 30,000.

September 27 Goods Sold on credit to- Poorva ₹80,000

September 28 Salary paid ₹ 12,000.

September 30 Cash withdrawn for personal use ₹ 20,000
Journal Entries questions for Practice

Question 10.

Enter the following transactions in the Journal of Mohit:

1. Goods Purchased for cash ₹ 5,00,000 at 20% trade discount.
2.
Goods Sold for cash ₹ 4,00,000 at 25% trade discount.
3. Goods Purchased On credit from Rakesh ₹ 3,00,000.
4. Goods Sold On credit to Dinesh ₹  4,50,000.
5. Goods given in charity ₹  8,000.
6.
Goods given as Free sample ₹ 5,000.
7. Goods withdrawn for personal use ₹  18,000.
8.
Goods Destroyed by fire ₹ 20,000.

Question 11.

Enter the following transactions in the Journal of Rohit:

1. Goods Purchased for cash ₹ 5,00,000 at 20% trade discount and 5% cash discount.
2. Goods Sold for cash ₹ 4,00,000 at 25% trade discount and 10% cash discount.
3. Goods Purchased for cash ₹ 3,00,000 at 20% trade discount and 8% cash discount.
4. Goods Sold for cash ₹ 8,00,000 at 25% trade discount and 6% cash discount.

Question 12.

Enter the following transactions in the Journal of CHARU:

1. Goods Purchased on credit from Sagar ₹ 5,00,000 at 20% trade discount.
2. Goods Sold on Credit to Dinesh ₹ 4,00,000 at 25% trade discount.
3. Goods Purchased for cash ₹ 3,00,000 at 20% trade discount and 8% cash discount.
4. Goods Sold for cash ₹ 8,00,000 at 25% trade discount and 6% cash discount.
5. Cash paid to Sagar in full settlement ₹ 3,80,000.
6. Cash received from Dinesh in full settlement ₹ 2,90,000.

Journal Entries questions for Practice

Question 13.

Enter the following transactions in the Journal of Jay Kumar:

Mr.Jay Kumar started business with cash ₹ 3,00,000
2. Goods purchased for cash ₹ 60,000
3. Goods sold for cash₹ 90,000
4. Goods purchased from Ram ₹ 48,000
5. Machinery purchased ₹ 30,000 and Installation charges paid ₹ 10,000
6. Goods sold to Deepak ₹ 40,000
7. Wages paid ₹ 4,000
8. Rent paid ₹ 6,000
9. Goods return to Ram ₹ 10,000
10. Commission received ₹ 5,000
11. Goods return from Deepak ₹ 8,000
12. Cash paid to Ram in his account
13. Cash received from Deepak in his account
14. Salary paid to Nayak ₹ 10,000
15. Cash Deposited in Bank ₹ 25,000
16. Furniture purchased ₹ 20,000
17. Depreciation Charged on Machinery ₹ 4,000
18. Cash Withdrawn from the bank for office use ₹ 10,000
19. Cash Withdrawn for personal use ₹ 8,000
20. Repairs paid for furniture ₹ 1,000

Question 14.

Enter the following transactions in the Journal of Rohit:

1. Goods Purchased on credit from Tara ₹ 5,00,000 at 20% trade discount and 10% cash discount, 50% amount immediately paid in cash.
2. Goods Purchased on credit from Nana ₹ 4,00,000 at 25% trade discount and 10% cash discount, 60% amount immediately paid in cash.
3. Goods sold on credit to Sanjay ₹ 8,00,000 at 20% trade discount and 10% cash discount, 50% amount immediately received by cheque and cheque deposited in bank same day.
4. Goods sold on credit to Rajesh ₹ 4,00,000 at 25% trade discount and 8% cash discount, 40% amount immediately received in cash.
5. Goods sold on credit to Brajesh ₹ 6,00,000 at 40% trade discount and 5% cash discount, 40% amount immediately received by cheque.

Question 15.

Enter the following transactions in the Journal of Naresh:

1. Goods Purchased on credit from Meera ₹ 5,00,000 at 20% trade discount and 10% cash discount, 50% amount immediately paid by cheque.
2. Goods Purchased on credit from Heera₹ 4,00,000 at 25% trade discount and 10% cash discount, 60% amount immediately paid in cash.
3. Goods withdrawn for personal use ₹ 15,000.
4. Goods given in charity ₹ 10,000.
5. Goods distributed as free sample ₹ 12,000.
6. Goods destroyed by fire ₹ 20,000.

 

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