Question

Q3 . Journalise the following transactions in the books of Mohan enterprises.(10) Jan 2019 :- 1 . Paid Mohan’s house rent rs. 20,000 3 . Sold goods rs. 60,000 to Asha @ 10% trade discount, 5% cash discount and GST @12% . Asha paid 1/3rd amount through RTGS. 7 . Purchased goods worth rs. 70,000 from Dhruv and amount paid through RTGS. 9. Sold old laptop of rs. 25,000 for 18,000. 11. Sold goods to Aman for rs.85,000 @18%GST. 15 . Paid rent rs. 18,000. 17. Goods lost by fire rs. 10,000. 21. Asha became insolvent and paid rs. 38,000 in full settlement of her account. 24. Placed an order of rs. 10,000 with Ramesh. 30. Salary outstanding rs. 20,000. Q4.Journalise the following transactions and post the entries into Ledger for April 2019.(10) April 2019 .1. Kiran started business with goods worth rs. 50,000 and cash rs. 2,00,000 out of which rs. 50,000 was borrowed @18% p.a. from his fried Prakash. 2. Advanced rs. 5,000 to Suraj with an order to supply goods worth rs. 30,000. 7. Paid rs.5,000 for printing bill books. 10. Goods distributed as free samples rs. 2,500. 17. Paid educational fees of his employee Mr. Gagan’s son Rs. 3,000. 18. Received goods from Suraj as per order dated 2nd April and immediately settled his account by paying cash. 24. Bought goods worth Rs. 10,000 @ 20% Trade Discount on credit from Akash with instructions to supply them to Prabhat. 25. Sent outward invoice to Prabhat for goods supplied by Akash at list price less 10% Trade Discount.​

Answer 1

We are required to journalize the entries in the books of Mohan Enterprises.  

$1/1/19$  Rent a/c Dr.                               $20,000$

       To, Cash a/c                                                         $20,000$

  (Being rent paid)

$3/1/19$            Bank a/c           Dr.                     $19,400$

                    Asha a/c            Dr.                     $38,800$

              Trade discount a/c Dr.                        $6000$

                Cash Discount a/c Dr.                       $3000$

             To Sales                                                                             $60,000$

              To CGST                                                                               $3600$

             To SGST                                                                                 $3600$

(Being goods sold to Asha)

$7/1/19$      Purchase a/c                                $70,000$

             To Bank a/c                                                                         $70,000$

(Being goods purchased)

$9/1/19$         Cash a/c                        Dr.        $18,000$

                   Loss on sale a/c           Dr.           $7,000$

             To, laptop                                                                            $25,000$

      (Being laptop sold)

$11/1/19$        Aman     a/c                      Dr.       $1,00,300$

           To sales                                                                               $85,000$

            To CGST                                                                              $7,650$

             To SGST                                                                                $7,650$

(Being goods sold To Aman)

15/1/19         Rent a/c           Dr.                         $18,000$

              To Rent a/c                                                                       $18,000$

    (Being rent paid)

$17/1/19$           Loss by fire a/c       Dr.                  $10,000$

              To Purchase a/c                                                               $10,000$

       (Being goods lost by fire)

$21/1/19$               Casha/c     Dr.                              $38,000$

                    Bad Debts a/c Dr.                                  $800$

To Asha a/c                                                                                 $38800$

(Being Asha becoming insolvent and

paying only $30,000$)

$4.$      

$1/1/19$                   Cash a/c     Dr. $2,00,000$

                          Goods a/c  Dr. $50,000$

To loan a/c                                                                  $50,000$

To, capital a/c                                                            $2,00,000$

(Being business started)

$2/1/19$                  Purchases a/c   Dr.     $30,000$

       To, cash  a/c                                                               $5,000$

      To, Suraj  a/c                                                               $25,000$

(Being goods purchased)

$7/1/19$        Printing a/c        Dr.         $5,000$

       To, cash a/c                                                              $5,000$

(Being printing expenses paid)

$10/1/19$      Promotion a/c     Dr.          $2,500$

  To,  Goods a/c                                                           $2,500$

(Being free goods distributed)

$17/1/19$          Gagan a/c   Dr.            $3,000$

     To, cash                                                            $3,000$

(Being fees paid)

$18/1/19$          Suraj a/c Dr.           $25,000$

    To cash                                                              $25,000$

(Being cash paid to Suraj)

$24/1/19$       Purchases a/c   Dr. $10,000$

To trade discount  a/c                                                $2,000$

To Akash a/c                                                               $8,000$

(Being goods purchased)

$25/1/19$    Prabhat a/c Dr.       $9,000$

              Trade Discount a/c  $1,000$

             To Sales                                                    $10,000$

(Being outwards invoice raised for Prabhat)

PROJECT CODE: #SPJ3