6. Pass necessary Journal entries for the following transact
2020
April 1 Deposited in bank 30000
April 3 Cash withdrawn from bank... 10000
April 7 Wages paid by cheque
7000
April 10 Cheque received from Deewan 8,500 and discount allowed to him 500. Cheque is deposited in
bank on the same day.
April 12 As per standing instructions, Bank paid Telephone bill 1000
April 14 Deewan's cheque returned by the bank as dishonoured.
April 16 Charges debited by bank
400
April 17 Goods sold and sale proceeds deposited in bank
8000
April 19 Bank has paid insurance premium as per our standing instructions. 1800
April 25 Dividend collected by Bank............ 2500
Answers
Following are translations
JOURNAL ENTRIES
1 April 2020
Bank A/C DR 30,000
To Cash A/C 30,000
( Being cash deposited in the bank account )
3 April 2020
Cash A/C DR 10,000
To Bank A/C 10,000
( Being cash withdrawn from bank )
7 April 2020
Wages A/C DR 7,000
To Bank A/C 7,000
( Being wages paid by bank account )
10 April 2020
Bank A/C DR 8,500
Discount A/C DR 500
TO Deewan A/C 9,000
( Being cheque received from Deewan and given him cash discount )
12 April 2020
Telephone Bill A/C DR 1,000
To Bank A/C 1,000
( Being telephone bill paid through bank account )
14 April 2020
Deewan A/C DR 8,500
To Bank A/C 8,500
( Being cheque dishonoured )
17 April 2020
Bank A/C DR 8,000
To Sales A/C 8,000
( Being sales done )
19 April 2020
Insurnace Premium A/C DR 1,80
To Bank A/C 1,800
( Being insurance premium paid by bank )
25 April 2020
Bank A/C DR 2,500
To Dividend A/C 2,500
( Being dividend collected by Bank )