Page 136 - Office Practice and Accounting -9

d. Purchased goods for Rs. 7,000
e. Sold goods for Rs. 4,000

f. Sold goods to Kirtee Enterprises for Rs. 3,000
g. Paid rent Rs. 3,000

Required: Journal Entries
13. You are given following transactions.

Shrawan – 1 Started business with cash Rs. 4,50,000 and goods of Rs.
80,000
Shrawan – 2 Cash Rs. 1,20,000 deposited into bank

Shrawan – 4 Goods of Rs. 25,000 purchased from Rama
Shrawan – 5 Furniture sold to Uma for Rs. 23,000
Shrawan – 10 Cash drawn for domestic use Rs. 10,000
Shrawan – 12 Goods of Rs. 25000 sold to Sujan receiving cash Rs. 13,000
partial receipt
Shrawan – 15 A cheque of Rs. 23,900 issued to Rama in full settlement
Shrawan – 16 Rs. 2500 was paid for proprietor’s life insurance premium

Shrawan – 20 Cash received from Uma
Shrawan – 25 Ganga who owns Rs. 15,000 declared insolvent and her
account is closed

Shrawan – 28 Goods of Rs. 3,000 lost by accident out of which Rs. 2,000
claim is admitted by insurance company
Shrawan – 30 Salary Rs. 200 due for the month

Required: Journal entries
14. Journalize the following transactions in the books of Barbote Cheese
Factory for the month of January, 2014.

Jan–1 Business commenced with cash Rs. 1,20,000, furniture of Rs.
30,000 and machinery of Rs.22,500

Jan–5 Opened a bank account with Rs. 75,000
Jan–7 Sold Cheese to Fikkal Dairy for Rs.20,000
Jan–9 Machinery costing Rs. 25,000 purchased from Pampha, paying
cash Rs. 7,000, issuing cheque of Rs. 8,000 and balance on credit
Jan 10 Purchased goods of Rs. 25000 from XYZ Traders

Jan–12 Purchased goods of Rs. 6,000 for cash and received 10% trade
discount

132 Office Practice and Accounting 9