Journal Entries questions

Journal Entries questions

Question 1

Pass Journal entries in the Journal of M/s Bhaskaran: 
January 1, 2022, Commenced business with cash $10,000
January 2, 2022, Furniture purchased $500
January 2, 2022, Computer purchased for office use$1,000
January 4, 2022, Goods purchased for cash$1,200
January 9, 2022, Goods sold for cash $900
January 10, 2022, Goods purchased for cash$400
January 12, 2022, Goods sold for cash $750
January 15, 2022, Goods sold for cash $250
January 24, 2022, Goods purchased for cash$1,200
January 28, 2022, Goods sold for cash $1,150
January 31, 2022, Salary paid $380
January 31, 2022, Rent paid $200

Question 2

Pass Journal entries in the Journal of M/s Jaykaran: 
February 1, 2022, Commenced business with cash $15,000
February 2, 2022, Furniture purchased $800
February 2, 2022, Machinery purchased $1,500
February 4, 2022, Goods purchased for cash$2,500
February 6, 2022, Goods purchased on credit from ABC company$1,800
February 9, 2022, Goods sold for cash $2,240
February 10, 2022, Goods purchased for cash$1,400
February 12, 2022, Goods sold for cash $1,450
February 15, 2022, Goods sold on credit to Harris $2,900
February 20, 2022, Goods purchased for cash$1,400
February 22, 2022, Goods sold for cash $1,150
February 25, 2022, Cash paid to ABC company $1,800
February 26, 2022, Cash received from Harris $2,000
February 27, 2022, Salary paid $500
February 28, 2022, General Expenses paid $500

February 28, 2022, Rent paid $300

Journal Entries questions

Question 3

Pass Journal entries in the Journal of M/s Natrazan: 
March 1, 2021, Commenced business with cash $35,000
March 2, 2021, Cash deposited into the Bank $10,000.
March 3, 2021, Computer purchased $1,000 paid by cheque.
March 4, 2021, Machinery purchased $1,800
March 5, 2021, Goods purchased for cash$5,500
March 5, 2021, Carriage paid on the purchase of goods $100
March 6, 2021, Goods purchased on credit from PQR company$3,000
March 9, 2021, Goods sold for cash $2,350
March 10, 2021, Goods purchased for cash$2,000
March 12, 2021, Goods sold for cash $2,350
March 15, 2021, Goods sold on credit to John $3,000
March 20, 2021, Cash deposited into the Bank $5,000.
March 24, 2021, Goods purchased for cash$1,400
March 25, 2021, Goods purchased on credit from PQR company$2000
March 28, 2021, Goods sold for cash $1,150
March 30, 2021, Cash paid to PQR company $2,500
March 31, 2021, Cash received from John $2,000
March 30, 2021, Advertisement Expenses paid by cheque $1,500
March 31, 2021, Salary paid $500
March 31, 2021, General Expenses paid $500

March 31, 2021, Rent paid $300
March 31, 2021, Cash paid to PQR company $800

Accounting journal entries practice

Question 4

Pass Journal entries in the Journal of M/s Swaminathan: 
January 1, 2022, Commenced business with cash $18,000, Machinery $8,000 Vehicles$4,000.
January 2, 2022, Furniture purchased $2,000
January 3, 2022, Cash deposited into the Bank $5,000
January 4, 2022, Goods purchased for cash$5,000
January 9, 2022, Goods sold for cash $6,600
January 10, 2022, Goods purchased on credit
From- krishna:$4,000
From- Gopalan: $3,000

January 11, 2022, Goods Sold on credit
T0- Marry:$4,500
To- Leena: $3,300
January 12, 2022, Goods sold for cash $3,750
January 15, 2022, Goods sold for cash $1,250
January 20, 2022, Cash deposited into the Bank $4,000
January 24, 2022, Goods purchased and paid by cheque$1,000
January 25 Amount paid by cheque to krishna:$2,000
January 28, 2022, Goods sold for cash $1,150
January 31, 2022, Salary paid $500
January 31, 2022, Rent paid $300
January 31 Amount paid by cheque to Gopalan:$2,000


Journal Entries questions

Question 5

Pass Journal entries in the Journal of M/s Wilson: 
January 1, 2022, Commenced business with cash $28,000, Machinery $12,000 Vehicles$5,000.
January 3, 2022, Cash deposited into the Bank $8,000
January 4, 2022, Goods purchased for cash$6,000 at 10% trade discount.
January 9, 2022, Goods sold for cash $8,000 at 15% trade discount.
January 12, 2022, Goods purchased on credit at 12% trade discount.
From- krishna:$3,000
From- Gopalan: $5,000
January 15, 2022, Goods Sold on credit 20% trade discount.
T0- Marry:$4,500
To- Leena: $3,300
January 18, 2022, Computer purchased $4,000 at 20% trade discount
January 20, 2022, Cash withdrawn from Bank $2,500 for office use.
January 30, 2022, Wages paid $500
January 31, 2022, Rent and Tax paid $300

Question 6

Pass Journal entries in the Journal of M/s Wilson: 
January 1, 2022, Commenced business with cash $22,000, Machinery $8,000.
January 3, 2022, Cash deposited into the Bank $8,000
January 4, 2022, Goods purchased for cash$6,000 at 10% cash discount.
January 9, 2022, Goods sold for cash $8,000 at 5% cash discount.
January 15, 2022, Goods Sold on credit to Pollard$2,000, at 20% trade discount.
January 18, 2022, Computer purchased $4,000 at 20% trade discount
January 20, 2022, Cash withdrawn from Bank $1,500 for office use.
January 30, 2022 Amount received from Pollard $1,500 In full settlement of $1,600. Discount allowed $100.
January 30, 2022, salary paid $1,500.
January 30, 2022, Advertisement Expenses payable$1,200
January 31, 2022, Rent and Tax paid$400.

Journal Entries questions

Question 7

Pass Journal entries in the Journal of M/s Soloman:
January 1, 2022, The owner invested $40,000 cash in the corporation.
January 2, 2022, Purchased $3,000 of computer with cash.
January 3, 2022, Purchased $6,000 of equipment with cash.

January 4, 2022, Purchased a new truck for $9,000 cash. 
January 6, 2022, Purchased $4500 in supplies on account.
January 8, 2022, Performed work for customers and received $50,000 cash.
January 14, 2022, Performed work for customers and billed them $10,000.
January 19, 2022, Received $5,000 from customers from work previously billed.
January 20, 2022, Paid office salaries $900.
January 24, 2022,Paid utility bill $2,200.
January 31, 2022, Paid February and March Rent in advance for $2,000.
January 31, 2022, Paid $800 for supplies previously purchased. 

Golden Rules Of Accounting

Journal Entries questions

 

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