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    Assignment Journal

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    aishasiddiq5784
    The document contains two journal entries assignments for Mr. Akshay and Mantri. [1] For Mr. Akshay, it provides 7 transactions from April 1-20, 2010 including starting a business, purchases, deposits, sales, expenses. [2] For Mantri, it provides 14 transactions from June 1-30, 2011 including starting business, bank deposit, purchases, sales, payments, returns, expenses.

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    Assignment Journal

    Uploaded by

    aishasiddiq5784
    75 views4 pages
    The document contains two journal entries assignments for Mr. Akshay and Mantri. [1] For Mr. Akshay, it provides 7 transactions from April 1-20, 2010 including starting a business, purchases, deposits, sales, expenses. [2] For Mantri, it provides 14 transactions from June 1-30, 2011 including starting business, bank deposit, purchases, sales, payments, returns, expenses.

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    The document contains two journal entries assignments for Mr. Akshay and Mantri. [1] For Mr. Akshay, it provides 7 transactions from April 1-20, 2010 including starting a business, purchases, deposits, sales, expenses. [2] For Mantri, it provides 14 transactions from June 1-30, 2011 including starting business, bank deposit, purchases, sales, payments, returns, expenses.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    75 views4 pages

    Assignment Journal

    Uploaded by

    aishasiddiq5784
    The document contains two journal entries assignments for Mr. Akshay and Mantri. [1] For Mr. Akshay, it provides 7 transactions from April 1-20, 2010 including starting a business, purchases, deposits, sales, expenses. [2] For Mantri, it provides 14 transactions from June 1-30, 2011 including starting business, bank deposit, purchases, sales, payments, returns, expenses.

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    © All Rights Reserved
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    of 4

    ASSIGNMENT

    Unit II: Journal

    1. Journalise the following transactions in the books of Mr. Akshay.

    2010 April 1 Mr. Akshay started business with Cash Rs 80,000.


    4 Purchased goods form Mona Rs 28,000.
    7 Deposited cash into Dena Bank Rs 39,000.
    10 Sold goods to Dinesh Rs 41,000.
    13 Purchased Laptop of Rs 30,000 in cash.
    17 Paid Mona by cheque Rs 30,000.
    20 Paid wages Rs 500.
    In the Books of Akshay
    Journal

    DATE PARTICULAR I DEBIT CREDIT


    F AMT AMT
    April Cash dr. 80,000
    2010 To capital a/c 80,000
    1 (Being the business start with cash)
    4 Purchase a/c dr. 28,000
    To Mona a/c 28,000
    (Being goods purchased from
    mona)
    7 Deposited cash a/c dr. 39,000
    To Dena bank a/c 39,000
    (Being deposited cash in Dena
    bank)
    10 Dinesh a/c dr. 41,000
    To sales a/c 41,000
    (Being goods sold)
    13 Laptop a/c dr. 30,000
    To cash a/c 30,000
    (Laptop purchased in cash)
    17 Mona dr. 30,000
    To Bank a/c 30,000
    (Issue of cheque to mona)
    20 Wages a/c dr. 500
    To cash a/c 500
    (Wages paid)

    2. Journalise the following transactions in the books of Mantri.


    2011 1 Commenced business with Cash Rs 1,20,000, Goods Rs. 60,000 and Furniture
    June Rs 65,000.
    3 Opened a current account in Bank of Baroda by depositing Rs 75,000.
    5 Cash purchases Rs 35,000.
    9 Cash Sales Rs 55,000.
    10 Purchased goods worth Rs 20,000 from Amit & Co. subject trade discount of
    2%
    14 Credit sales to Kalpana Rs 15,000.
    16 Paid cash to Amit & Co. Rs 9,500 who allowed us discount Rs 100.
    19 Goods distributed as free samples of Rs 1,500.
    21 Received Cash from Kalpana Rs 4,800 on account and allowed her cash
    discount Rs 200.
    24 Returned goods of Rs 750 to Amit & Co.
    26 Purchased shares of Rs 15,000 of HDFC Bank.
    29 Received goods returned by Kalpana Rs 200.
    30 Rent paid by cheque Rs 7,000

    In the Books of Mantri


    Journal

    DATE PARTICULAR IF DEBIT CREDIT


    AMT AMT
    June Cash a/c dr. 1,20,000
    2011 Stock a/c 60,000
    Furniture a/c
    1 To capital a/c 65,000
    (commenced with cash, goods and 2,45,000
    furniture)
    3 Bank a/c dr. 75,000
    To Cash a/c 75,000
    (Cash deposited in bank of baroda)
    5 Purchase a/c dr. 35,000
    To cash a/c 35,000
    (Cash purchase made)
    9 Cash a/c dr. 55,000
    To sales a/c 55,000
    (Goods sold for cash)
    10 Purchase a/c (20,000 – 400) dr. 19,600
    To Amit & Co. a/c 19,600
    (Good purchased worth Rs 20,000
    at a trade discount of 2%)
    14 Kalpana dr. 15,000
    To sales a/c 15,000
    (Credit sales to kalpana)
    16 Amit & Co. dr. 9,600
    To cash a/c 9500
    To discount received a/c 100
    (Cash paid to Amit & Co. and
    discount received)
    19 Advertisement a/c dr. 1,50
    To purchase a/c 1,500
    (Goods distributed as Free samples)

    21 Cash a/c dr. 4,800


    Discount allowed a/c dr. 200
    To kalpana 5000
    (Cash received and discount
    allowed)
    24 Amit & Co. dr. 735*
    To purchase Return a/c 735*
    (Goods returned Amit & Co.)

    26 Investment in shares a/c dr. 15,000


    To cash a/c 15,000
    (purchase of shares of HDFC bank)

    29 Sales return a/c dr. 200


    To Kalpana 200
    (Goods returned by kalpana)

    30 Rent a/c dr. 7,000


    To bank a/c 7,000
    (Rent paid through cheque)

    *Goods returned to Amit of value 750 will be recorded at a discount of 2% which is allowed
    as trade discount i.e. at Rs735 [750- 15(2% of 750)].

    3.

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