Page 134 - Office Practice and Accounting -9

7. Give the journal entries for the following transactions of ABC Company
Limited for the month of January:
Jan 1 Started business with capital of Rs. 1,00,000
Jan 2 Cash deposited into bank Rs. 75,000

Jan 5 Furniture purchased on cash Rs. 15,000
Jan 8 Rent paid Rs. 4,000 including advance of Rs. 1,000

Jan 9 Cash drawn for domestic use Rs. 5,000
Jan 11 Cash drawn for office use Rs. 6,000
Jan 15 Goods of Rs 1,000 sold to Ram for Rs. 800

Jan 19 Interest received Rs. 2,000
Jan 24 Machinery of Rs. 15000 purchased from Dipak
Jan 25 Purchased goods from Pashupati Tradings for Rs 12000 at 5%
trade discount
Jan 26 Cheque issued to Dipak Rs. 14800 in full settlement

Jan 27 Paid commission by cheque Rs. 1200
Jan 28 Paid to Pashupati Traders at 10% discount
8. The following transactions are relating to a business office.

Baishakh – 1 Business started with cash Rs. 5,50,000 and bank balance of Rs.
50,000
Baishakh – 5 Deposited Rs 45000 into bank
Baishakh – 8 Goods of Rs. 12000 purchased from Nima
Baishakh – 11 Paid Rs. 22000 to creditor through cheque
Baishakh – 16 Goods withdrawn by proprietor for personal use Rs. 8,500
Baishakh – 17 Goods of Rs. 9000 sold to Kiran receiving cash Rs. 1,000 as
partial receipt
Baishakh – 21 Cash drawn for office use Rs. 5,000
Baishakh – 23 Goods purchased for Rs. 3,000 and paid through cheque
Baishakh – 24 Paid to Nima Rs. 11000 in full settlement
Baishakh – 26 Furniture purchased from Sanju for Rs. 3,500
Baishakh – 27 Goods costing Rs. 1,500 sold at profit of Rs. 500

Baishakh – 29 Telephone bill paid through cheque Rs. 700
Baishakh – 31 Received Rs. 7900 from Kiran in full settlement of his account
Required: Journal entries

130 Office Practice and Accounting 9