Sample QuestionsJournal questions
One sample from each question group in this chapter. Select any group above to see the full set with answer keys.
On account of purchase of furniture, which account will be debited for inward and installation expense?
Life insurance premium is debited to _____________ .
- A
- B
- C
Life insurance premium account
- D
View full solution →Goods of $₹ 5000$ purchased from Keval at $10 \%$ trade discount and at $5 \%$ cash discount where $50 \%$ amount paid by cheque. What amount will be credited to bank account?
- A
$₹ 250$
- B
$₹ 500$
- C
$₹ 112.50$
- ✓
$₹ 2137.50$
Answer: D.
View full solution →Goods of $₹ 6000$ purchased from Shreya on cash at $10 \%$ trade discount and $5 \%$ cash discount. How much amount of discount will be recorded in the journal entry?
- A
$₹ 300$
- B
$₹ 270$
- ✓
- D
$₹ 600$
Answer: C.
View full solution →Which balance and what effect would take place when interest on bank balance is occured?
Write two transactions where 'Drawings' account is debited in journal book.
Which account will be debited when wages paid for installation of machinery purchased? Why?
Write two transactions where purchase account is credited in journal book.
Which account will be debited, when goods sold are returned back?
Which transaction is cause of emergence of bad debts?
From the following transactions of Jay Ambe Tools, write journal entries.
$2018$
July
$1$ Paid by chqeue : Life insurance premium $₹ 1000$ and for fire insurance $1500.$
$8$ Bank has sanctioned bank overdraft of $₹ 40,000.$
$15$ Purchased 2000 shares of Nirma Ltd. at $₹ 10$ per share and brokerage paid at $₹ 1$ per share, payment made by cheque.
$20$ Cheque received from Mahesh of $₹ 1900$ after deducting $5\%$ cash discount.
View full solution →From the following transactions of Rajkot Oil Depo, write journal entries.
$2018$
June
$1$ Goods of $₹ 1000$ given for Railway relief fund.
$8$ Furniture of $₹ 4000$ purchased and against which goods given of $₹ 3500.$
$10$ Goods of $₹ 400$ withdrawn for personal use.
View full solution →From the following transactions of Mansukh, write journal entries.
$2018$
May
$7$ Goods of $₹ 8000$ destroyed by fire. Insurance company admitted claim of $80 %$ amount.
$11$ Insurance company has issued chqeue of insurance claim.
$22\ ₹ 500$ realised from sale of goods destroyed by fire.
View full solution →Write journal entries in the books of Shailesh for the following transactions.
$2018$
April
$1$ Machine purchased $₹ 50,000$ and installation expense $₹ 5000$ paid in cash.
$7$ Goods of $₹ 2000$ distributed as sample.
$15\ ₹ 4000$ was receivable from Ved. He becomes insolvent and $50 \%$ amount is received by cheque as final settlement.
View full solution →Write journal entry in the books of Satish, from the following transactions.
$2018$
March
$1$ Business commenced by introducing cash $₹ 60,000$ and loan of Avani $₹ 40,000.$
$7$ Life insurance premium $₹ 2000$ paid by cheque.
$9$ Interest received from Shailesh $₹ 500.$
View full solution →Write journal entries in the books of Parul for the following transactions.
$2018$
Dec.
$1 ₹ 40,000$ deposited with bank.
$6 ₹ 5000$ for office expense and $₹ 3000$ for personal use withdrawn from bank.
$12$ Loan of $₹ 7000$ approved for clerk Varsha.
$15$ Machine of $₹ 50,000$ purchased by cheque from Bharat Company Ltd. and paid wages of $₹ 1000$ for its installation.
$18$ Purchase files of $₹ 200$ and books of $₹ 300$ for shop.
View full solution →From the following transactions write journal entries in the books of Jeel.
$2018$
July
$1$ Goods of ₹ 5000 purchased at $10 \%$ trade discount and at $5 \%$ cash discount from Fenil. Payment done by cheque.
$6$ Goods of ₹ 300 given in donation on occasion of Shradh of mother.
$11$ Goods destroyed by fire $₹ 10,000$. Insurance company has admitted claim of $70 \%$ amount and the amount credited in our account through $NEFT.$
$17$ Goods of $₹ 20,000$ sold to Rahul at $10 \%$ trade discount and $5 \%$ cash discount. Half amount received by chqeue.
View full solution →From the following transactions write journal entries in the books of Gopi Traders.
$2018$
June
$1$ Loan borrowed from Apexa $₹ 35,000.$
$8$ Bank had debited $₹ 150$ of bank charges and credited $₹ 250$ of interest.
$12$ Janvi becomes insolvent from whom $₹ 10,000$ was receivable out of which $40\%$ amount received as final settlement by cheque.
$18$ Goods of $₹ 60,000$ purchased from Chetan and $50 \%$ amount paid by $NEFT. NEFT$ charge was $₹ 5.$
View full solution →Write journal entries, from the following transactions of Avdhut Kirans.
$2018$
May
$1$ Goods of $₹ 50,000$ purchased at $20 \%$ trade discount and at $10 \%$ cash discount from Shravan.
$20$ Goods purchased from Shravan out of which $25\%$ goods of cost price sold to Yash by adding $25 \%.$
$25$ Yash had returned goods of $₹ 5000$, which are returned back to Shravan.
View full solution →From the following transactions, write journal entries in the books of $'V'$ Mart.
$2018$
March
$1$ Machinery purchased $₹ 90,000$ payment made by cheque and $₹ 10,000$ paid in cash for its installation.
$9$ Old furniture of $₹ 7000$ sold to Vimlesh for $₹ 10,000.$
$25$ Weighing machine and weights are purchased for shop of $₹ 4500.$
$30$ Two chairs purchased for business, each of $₹ 1500.$
View full solution →Write journal entries in the books of Ashwin for the following transactions.
$2018$
May
$1 ₹ 5000$ for business and $₹ 2000$ for personal use are withdrawn from bank.
$4$ Picnic fees of son, paid from business $₹ 1700.$
$10$ Goods of $₹ 4500$ sold to Magan to earn $10\%$ profit on selling price.
$15$ Goods of $₹ 700$ ruined to rain, sold for $₹ 200.$
$20 ₹ 5000$ of salary and $₹ 1000$ of wages are paid.
$25$ Goods of $₹ 6000$ sold to Honey at $10\%$ trade discount and $10\%$ cash discount.
$30$ Goods of $₹ 700$ is received as sample.
View full solution →From the following transactions perpare journal of Pranav Patel of Rajkot.
The following $GST$ rates are applicable to the business transactions of Shri Pranavbhai. The amount of $GST$ is not included in following transactions.
| Particulars of $GST$ |
On goods |
On services |
| Central Goods and Service Tax : $CGST$ |
$6 \%$ |
$2.5 \%$ |
| State Goods and Service Tax : $SGST$ |
$6 \%$ |
$2.5 \%$ |
| Integrated Goods and Service Tax : $IGST$ |
$12 \%$ |
$5.0 \%$ |
$2019$
Dec.
$1$ Goods of $₹ 10,000$ purchased at $10 \%$ trade discount from Manubhai of Bhavnagar, amount paid by cheque.
$3$ Goods of $₹ 20,000$ purchased at $10 \%$ trade discount from Prakashchandra of
Puna (Maharashtra).
$5$ Goods of $₹ 30,000$ sold at $10 \%$ trade discount to Arvindbhai of Ahmedabad.
$8$ Goods of $₹ 25,000$ sold at $10 \%$ trade discount to Kamleshbhai of Kochi (Kerala), against which cheque is received.
$15$
$\frac{1}{4}$th goods returned to Prakashchandra and proportionate $GST$ credit is received.
$20$
$\frac{1}{3}$rd goods returned by Arvindbhai and proportionate $GST$ credit is allowed.
$25$ A cupboard for office is purchased from Shivam Furniture Mart of Amreli $₹ 10,000.$
$28$ Rent paid $₹ 4000.$ View full solution →Write journal entries for the following transactions in the books of Hasmukhbhai of Vadodara.
The following $GST$ rates are applicable to the business transactions of Hasmukhbhai. The amount of $GST$ is not included in following transactions.
| Particulars of GST |
On goods |
On services |
| Central Goods and Service Tax : $CGST$ |
$6 \%$ |
$2.5 \%$ |
| State Goods and Service Tax : $SGST$ |
$6 \%$ |
$2.5 \%$ |
| Integrated Goods and Service Tax : $IGST$ |
$12 \%$ |
$5.0 \%$ |
$2019$
August
$1$ Goods of ₹ $40,000 $purchased at $10 \%$ trade discount from Jyotindrabhai of Jamnagar. Payment made by cheque.
$3$ Goods of ₹$ 60,000$ purchased at $5 \%$
cash discount from Manindersingh of Bhatinda (Punjab).
$6$ Goods of ₹ $90,000$ sold at $10 \%$ trade discount to Navinchandra of Navsari.
$8$ Brokerage paid ₹ $9000$.
$10$ A machine of ₹ $1,00,000$ purchased from 'Morden Machine Co.' of Bhuj.
$15$ Goods of ₹ $15,000$ returned to Manindersingh the proportionate credit of $GST$ is received back.
$18$ Goods of ₹ $30,000$ sold at $10 \% $ trade discount to Devendra Kapoor of Delhi, against which cheque is received.
$20$ Goods of ₹ $30,000$ returned by Navinchandra and proportionate credit of $GST$ allowed him. View full solution →From the following information write journal entries in the books of Jagdishbhai of Junagarh.
The following $GST$ rates are applicable to the business transactions of Shri Jagdishbhai. $GST$ amount is not included in following transactions.
| Particulars of $GST$ |
On goods |
On services |
| Central Goods and Service Tax : $CGST$ |
$6 \%$ |
$2.5 \%$ |
| State Goods and Service Tax : $SGST$ |
$6 \%$ |
$2.5 \%$ |
| Integrated Goods and Service Tax : $IGST$ |
$12 \%$ |
$5.0 \%$ |
$2019$
June
$1$ Goods of $₹ 80,000$ purchased at $10 \%$ trade discount from Nareshbhai of Nadiad.
$5$ Goods of $₹ 1,00,000$ sold at $10 \%$ trade discount to Bakulbhai of Bengaluru (Karnataka).
$9$ $\frac{1}{5}$ th goods is returned to Nareshbhai. The proportionate amount of $GST$ received back.
$15$
$\frac{1}{6}$ th goods is received back from Bakulbhai. The proportionate amount of $GST$ is allowed.
$22$ A machine of $₹ 60,000$ purchased from Rameshwar stores of Rajkot, amount paid by cheque.
$30$ Telephone bill paid $₹ 8000$ by cheque. View full solution →Write journal entries for the following transactions in the books of Rakesh Traders :
$2018$
April
$1$ Goods of ₹ $30,000$ purchased at $10 \%$ trade discount from Bhavik.
$3$ Goods purchased from Bhavik, sold to Gagan after adding $25 \%$ profit.
$7$ Goods of ₹ $15,000$ was returned by Gagan, same was returned to Bhavik.
$15$ Shares of $BHEL$ company are purchased for ₹ $18,000$. Payment made by cheque including brokerage of $2\%$.
$25$ ₹ $1515$ was to be collected from Kirit. He paid cheque of ₹ $1500$ as a final settlement.
View full solution →