ACCOUNTANCY - JOURNAL ENTRY

Journal ENTRY…
CHARAK RAY
Libra.charak@gmail.com

Q.1. Journalize the following transactions: 2018
June 1 SiyaRam started business with cash 50,000
June 2 Purchased goods for cash 20,000
June 4 Purchased goods from Subhash 12,000
June 5 Purchased Furniture for cash 6,000
June 7 Sold goods for cash 13,000
June 9 Sold goods to Mahesh 15,000
June 10 Paid cash to Subash 8,000
June 12 Received cash from Mahesh 10,000
June 16 Purchased goods from Ravi for cash 7,500
June 17 Purchased goods from Ravi 5000
June 18 Sold goods to Suresh for cash 12,600
June 19 Sold goods to Suresh 7,000
June 20 Bought Machinery for cash 8,000
June 24 Withdrew cash from office for personal use 2,500
June 27 Paid Rent 400
June 29 Paid Wages 450
June 30 Paid salary to Gopal 1,200
June 30 Received Commission 200

Q.2. Journalise the following transactions: 2018
Jan 1 Rahul started business with cash 1,00,000
Jan 2 Paid into bank 60,000
Jan 3 Bought goods from M/s Singh & Co. on credit 20,000
Jan 4 Paid cartage 20,000
Jan 4 Placed an order for HP printers for 15,000 amount advanced 2,000
Jan 4 Purchased calculator 1,000
Jan 4 Purchased computer by cheque 13,000
Jan 6 paid for postage 150
Jan 8 Sold goods for cash 4,000
Jan 9 Sold goods on credit to M/s Sharda & Co. 10,000
Jan 9 paid cartage 200
Jan 15 Paid to M/s Singh & Co. on account 17,500
Jan 25 Sold goods to M/s Ray & Co. 5,600

Date Particulars L.F Dr.(`) Cr.(`)
JOURNALQ.3/8.52(i) Purchased goods of list price of 20,000 from Vishal at 20% trade discount against cheque.
(i) Purchases A/c Dr. 16,000
To Bank A/c 16,000
(Being goods purchased list price 20,000 less 15% trade
discount 20,000 -4,000= 16,000)
(ii) Purchased goods of list price of 20,000 from Naman at 15% trade discount against cash.
(ii) Purchases A/c Dr. 17,000
To Cash A/c 17,000
discount 20,000 -3,000= 17,000)
(iii) Purchased goods of list price of 30,000 from Amrit at 20% trade discount.
(iii) Purchases A/c Dr. 24,000
To Amrit A/c 24,000
discount 30,000 -6,000= 24,000)
(iv) Purchased goods of list price of 40,000 for 35,000 for cash.
(iv) Purchases A/c Dr. 35,000
To Cash A/c 35,000
(Being goods purchased list price 40,000 for 35,000.)
(v) Goods returned of list price of 10,000 purchased from Amrit.
(v) Amrit Dr. 8,000
To Purchase Return A/c 8,000
(Being goods purchased list price 10,000 less 20% T.d.)

(vi) Sold goods to Parul of list price of 40,000 at 10% trade discount against cheque paymen
(vi) Bank A/c Dr. 36,000
To Sales A/c 36,000
(Being goods sold to Parul list price 40,000 less 10% trade
discount 40,000 -4,000= 36,000)
(vii)Cash A/c Dr. 27,000
To Sales A/c 27,000
(Being goods sold to Aman list price 30,000 less 10% trade
discount 30,000 -3,000= 27,000)
(viii) Pawan Dr. 18,000
To Sales A/c 18,000
(Being goods sold to Pawan list price 30,000 less 10% trade
discount 20,000 -2,000= 18,000)
(vii) Sold goods to Aman of list price of 30,000 at 10% trade discount against cash.(viii) Sold goods to Pawan of list price of 20,000 at 10% trade discount.(ix) Sold goods to Yamini of list price of 25,000 for 23,000.
(ix) Yamini Dr. 23,000
To Sales A/c 23,000
(Being goods sold to Yamini for 23,000.)

Q.12. Journalise the following transactions: Page 8.55.
(i) Paid `2,000 in cash as wages on installation of a machine.
(ii)Sold goods to Manohar, list price `4,000, trade discount 10% and Cash discount 5%. He
paid the mount on the same day and availed the cash discount.
(iii) Received and order from Shyam for supply of goods of the list price of ` 1,00,000 with
an advance of 10% of list price.
(iv)Received commission ` 5,000 half of which is an advance.
(v)Rajanikant is declared insolvent. A final compensation of 25 paise in a rupee is received
from his estate out of `5,000.
JOURNAL

Q5/8.53. Journalise the following transactions:
(i) Shyam became insolvent. A first and final composition of 75 paise in a rupee was
received from his official receiver. He owed us `10,000.
(ii)Received cash `5,000 for a bad debt written off last year.
(iii)Rent due to landlord `8,000.
(iv)Salaries due to clerks `10,000.
(v)Placed and order with Rakesh Mohan for the supply of goods of the list price of
`1,00,000. In this connection, Raman paid 10% of the list price as an advance by
cheque. JOURNAL

Q6. Journalise the following transactions: P-8.53
(i) Goods worth 500 given as charity.
(ii)Sold goods to Mayank of 1,00,000, payable 25% by cheque at the time of sale and
balance after 30 days of sale.
(iii)Received 975 from Harikrishna in full settlement of his account for 1,000.
(iv)Received a first and final dividend of 60 Paise in a rupee from the official receiver of
Rajan, who owed us 1,000.
(v)Charged depreciation on plant 1,000.
(vi)Charged interest on Drawings 1,500.
(vii)Sold goods costing 40,000 to Anil for cash at a profit of 25% on cost less 20% trade
discount & charged 15% GST and paid cartage 100, which is not to be charged from
customer.
JOURNAL

Q.13. Journalise the following transactions:
(i) Isha commenced business by investing `2,00,000 in cash.
(ii) Opened a current account in bank `1,20,000.
(iii)She transferred `15,00,000 to the firm’s bank account from her saving account.
(iv)Purchased goods for `60,000 and paid `2,000 for carriage.
(v)Purchased goods for `1,00,000 from Rashmi.
(vi)Purchased a shop for `15,00,000 and paid by cheque.
(vii)Purchased machinery from Rajiv for `10,000 and paid him by bank draft taken from
paying bank charges of `200.
JOURNAL

Q.. Journalise the following transactions: P-8.56
(i) Gaurav commenced business by introducing capital incash `21,000 and by cheque `50,000.
(ii)Gaurav purchased goods from Saurabh for 30,000 and Saurabh allowed him Trade
discount of `3,000.
(iii)He sold goods to Ramesh against cash `20,000 and allowed him Cash discount of `400.
(iv)Paid salary to Suresh `3,000.
(v)Placed an order with shyam for goods of `1,00,000 and paid advance by cheque of `10,000.
(vi)Paid rent of building `20,000, half of the building is used by the proprietor for his
residence.
(vii)Salary due to staff `25,000.
(viii)Charge depreciation on furniture @ 10% p.a. for one month(furniture `24,000)JOURNAL

Q.Journalise the following transactions: P-8.57
(i) Ajay returned goods purchased from Manoj `22,000. He had availed Trade discount of
`2,200 on the goods returned.
(ii)Ajay received `5,000 from Abhay which he had earlier written off as Bad Debts.
(iii)A fire occurred in the godown of Ajay and he lost goods worth `10,000. The stock was
not insured.
(iv)Ajay took goods worth `2,500 (cost) for his personal use sale price `3,000.
(v)Paid rent for Ajay’s residence `10,000.
JOURNAL

JOURNAL
Q. Journalise the following transactions: P-8.57
(i) Paid Income Tax 3,000.
(ii)Interest on Capital 300.
(iii)Goods worth 500 given as charity.

Pass Journal Entries to the set off of taxes for M/s. Logistics, Delhi for March, 2018:
Date Particulars Amount (Rs.)
3 Purchased goods from M/s Amar Sales, Delhi 50,000
5 Purchased goods from M/s Blue Traders, Chennai 80,000
5 Deposited CGST Rs. 1,000; SGST Rs. 1,000; and IGST Rs. 5,000
10 Sold goods to M/s Rahul Traders, Delhi 30,000
10 Sold goods against cash to a customer 2,000
15 Sold goods to Basu Sales, Kolkata 1,50,000
15 Paid Restaurant bill for lunch with customer (including GST) 5,900
15 Paid to Lawyer for Consultation 5,000
20 Sold goods on credit to Ramesh 10,000
30 Paid Telephone Expenses (including GST) 5,900
30 Paid Electricity Bill 5,000
31 Paid Salaries to Staff 15,000
GST rates of CGST @ 9%, SGST @ 9%, IGST @ 18%.

DATE PARTICULARS LF AMT.
(DR.)
AMT.
(CR.)
2018
Mar 3
Purchases A/c …Dr.
Input CGST A/c …Dr.
Input SGST A/c …Dr.
To Amar Sales
(Intra-state Purchase of
goods)
50,000
4,500
4,500
59,000
JOURNAL ENTRY
Purchased goods for Rs. 50,000 plus GST from Amar
Sales, Delhi
Note: It is a intra-state (within state) transaction.
Therefore, both CGST and SGST will be levied.

DATE PARTICULARS LF AMT.
(DR.)
AMT.
(CR.)
2018
Mar 5
Input IGST A/c …Dr.
To Blue Traders
(Inter-state Purchase of
goods)
80,000
14,400
94,400
Purchases goods of Rs. 80,000 from Blue Traders,
Chennai
Note:
It is a inter – state transaction (between Delhi and
Chennai). Therefore, IGST will be levied.

2018
Mar 5
Input IGST A/c …Dr.
To Bank A/c
(GST deposited)
1,000
1,000
5,000
7,000
Deposited CGST – Rs. 1,000; SGST – Rs. 1,000 and IGST
Rs. 5,000.
2018
Mar
10
Rahul Traders …Dr.
To Sales A/c
To Output CGST A/c
To Output SGST A/c
(Intra-state sale of goods)
35,400
30,000
2,700
2,700
Sold goods to Rahul Traders, Delhi of Rs. 30,000

2018
Mar
10
Cash A/c …Dr.
To Sales A/c
To Output CGST A/c
To Output SGST A/c
(Cash sale of goods)
2,360
2,000
180
180
Cash sale over the counter Rs. 2,000
2018
Mar
15
Basu Sales …Dr.
To Sales A/c
To Output IGST A/c
(Inter-state sale of goods)
1,77,000
1,50,000
27,000
Goods sold to Basu Sales, Kolkata of Rs. 1,50,000.
Note:
It is a inter – state transaction (between Delhi and
Kolkata). Therefore, IGST will be levied.

2018
Mar
15
Entertainment A/c ...Dr.
To Cash A/c
(Paid restaurant bill)
5,900
5,900
Paid Restaurant bill for lunch with customer Rs. 5,900
(inclusive of GST).
Note:
Input CGST and Input SGST is not claimed because input
credit of GST is not allowed.
2018
Mar
15
Professional Fee A/c ...Dr.
To Bank A/c
(Fee paid to lawyer)
5,000
5,000
Fee paid to Lawyer for consultation Rs. 5,000.
Note:
GST on lawyer fee is paid by the receiver of service.

2018
Mar
15
To Bank A/c
(CGST and SGST paid on
Lawyer’s fee paid under
Reverse Charge)
450
450
900
CGST and SGST on Fee paid to Lawyer of Rs. 5,000.
Note:
GST on lawyer fee is paid by the receiver of service.
2018
Mar
20
Ramesh …Dr.
To Sales A/c
To Output CGST A/c
To Output SGST A/c
11,800
10,000
900
900
Goods sold to Ramesh Rs. 10,000.

2018
Mar
20
Ramesh …Dr.
To Sales A/c
To Output CGST A/c
To Output SGST A/c
11,800
10,000
900
900
Goods sold to Ramesh Rs. 10,000.

2018
Mar
30
Telephone Exp. A/c …Dr.
To Cash A/c
(Telephone Bill paid)
5,000
450
450
5,900
Telephone bill for the month paid – Rs. 5,900, including
GST

2018
Mar
30
Electricity Exp. A/c ...Dr.
To Cash A/c
(Electricity Bill Paid)
5,000
5,000
Paid Electricity Bill of Rs. 5,000

2018
Mar
30
Salaries A/c …Dr.
To Bank A/c
(Salaries paid for the
month)
15,000
15,000
Paid salary for the month Rs. 15,000.

DATE PARTICULARS LF DR.(`) CR.(`)
2017
June 1
Cash A/c …Dr.
To Capital A/c
(Being capital brought
in by Singh)
50,000
50,000
JOURNAL
2017 June 1 Started business with cash `50,000
GST rates of CGST and SGST @ 6%,
Q8./8.53
In the books of Singh Enterprise
2017 June 2 Deposited cheque from savings account in
firm’s account `2,00,000.

2017
June 1
Bank A/c …Dr.
To Capital A/c
(Being further capital
brought in by Singh)
2,00,000
2,00,000
2017 June 2 Deposited cheque from savings account in
firm’s account `2,00,000.
JOURNAL
Q8./8.53

2017
June 1
Cash A/c …Dr.
To Ram’s A/c
(Being Cash received
from Ram)
50,000
50,000
2017 June 3 Received cash from Ram `50,000.
JOURNAL
Q8./8.53
2017 June 4 Purchased goods for cash `15,000.
2017
June 4
To Cash A/c
(Being goods purchased for
cash paid CGST & SGST@6%)
15,000
900
900
16,800

2017
June 11
M/s Hari Sales A/c …Dr.
To Sales A/c
TO Output CGST A/c
To Output SGST A/c
(Being Goods sold to M/s Hari Sales)
13,440
12,000
720
720
2017 June 11 Sold goods to M/s Hari Sales, Delhi`12,000.
JOURNAL
Q8./8.53
2017 June 13 Paid to Ramavtar `40,000.
2017
June 4
Ramavtar’s A/c …Dr.
To Cash A/c
(Being cash paid to Ramavtar)
40,000
40,000

2017 June 17 Received from M/s Hari Sales `10,000.
2017
June 17
Cash A/c …Dr.
To M/s Hari Sales A/c
(Being Cash received from
M/s Hari Sales )
10,000
10,000
2017 June 20 Bought furniture from S.R.Furnishers
against cash (including CGST and SGST) `22,400.

2017
June 4
Furniture A/c …Dr.
To Cash A/c
cash paid CGST & SGST@6%
22,400 X 12/112=2400)
20,000
1,200
1,200
22,400

2017 June 17 Received from M/s Hari Sales `10,000.
2017 June 27 Paid Rent `28,000.
2017 June 30 Paid Salary `50,000.

2018
Jan 1
Cash A/c …Dr.
To Capital A/c
(Being capital brought in
by Rakesh)
50,000
50,000
JOURNAL
2018 Jan 1Rakesh commenced business with cash `50,000
GST rates of CGST and SGST @ 6%, IGST is levied@12%
Q9./8.54
In the books of Shri Rakesh
2018 Jan 2 Purchased Goods for cash `10,000.

2018 Jan 2 Purchased Goods for cash `10,000.
2018
Jan 2
To Cash A/c
cash paid CGST & SGST@6%)
10,000
600
600
11,200

2018 Jan 5 Purchased Goods from Mohan, Delhi on credit `6,000.
2018
Jan 5
To Mohan’s A/c
(Being goods purchased from
Mohan paid CGST &
SGST@6%)
6,000
360
360
6,720

2018
Jan 7
Bank A/c …Dr.
To Cash A/c
(Being cash deposited
into bank of india)
6,000
6,000
2018 Jan 7 Opened Bank account with Bank of India `6,000.
JOURNAL
Q9./8.54

2018 Jan 10 Bought furniture for office `2,000.
2018
Jan 10
To Cash A/c
(Being furniture purchased for
cash paid CGST & SGST@6%
paid)
2,000
120
120
2,240

2018
Jan 15
Cash A/c …Dr.
To Sales A/c
TO Output CGST A/c
To Output SGST A/c
(Being Goods sold for cash)
8,960
8,000
480
480
2018 Jan 15 Sold goods for cash `8,000.
JOURNAL
Q9./8.54

2018
Jan 20
Ram’s A/c …Dr.
To Sales A/c
To Output CGST A/c
To Output SGST A/c
(Being Goods sold to Ram, Delhi)
5,600
5,000
300
300
JOURNAL
Q9./8.54
2018 Jan 20 Sold goods to Ram, Delhi on credit `5,000.

2018
Jan 25
Cash A/c …Dr.
To Sales A/c
TO Output CGST A/c
To Output SGST A/c
3,920
3,500
210
210
2018 Jan 25 Cash sales `3,500.
JOURNAL
Q9./8.54 GST rates of CGST and SGST @ 6%, IGST is levied@12%
2018 Jan 27 Paid to Mohan on account `3,000.
2018
Jan 27
Mohan’s A/c …Dr.
To Cash A/c
(Being cash paid to Mohan)
3,000
3,000

2018 Jan 28 Ram returned goods `500.
2018
Jan 28
Sales Return A/c …Dr.
Output CGST A/c …Dr.
Output SGST A/c …Dr.
To Ram’s A/c
(Being Ram returned goods)
500
30
30
560
2018 Jan 31 paid Salaries ` 9,000.
2018
Jan 31
Salaries A/c …Dr.
To Cash A/c
(Being Salaries paid)
9,000
9,000
2018 Jan 31 Rejected and returned 10% of goods
supplied by Mohan.

Date Particulars JF Amount Date Particulars JF Amount
2018
Jan 1
CASH A/c
2018
Jan 1
Cash A/c …Dr.
To Capital A/c
50,000
50,000
To Capital A/c 50,000
2018
Jan 2
To Cash A/c
10,000
600
600
11,200
2018 By Purchases A/c 10,000
Jan2 By Input CGST A/c 600
By Input SGST A/c 600
2018
Jan 7
Bank A/c …Dr.
To Cash A/c
6,000
6,000
Jan 7 By Bank A/c 6,000
2018
Jan 10
To Cash A/c
2,000
120
120
2,240
Jan 10 By Furniture A/c 2,000
By Input CGST A/c 120
2018
Jan 25
Cash A/c …Dr.
To Sales A/c
TO Output CGST A/c
To Output SGST A/c
8,960
8,000
480
480
Jan 15 To Sales A/c 8,000
TO Output CGST A/c 480
To Output SGST A/c 480
2018
Jan 27
To Cash A/c
3,000
3,000
Jan 27 By Mohan’s A/c 3,000
2018
Jan 31
Salaries A/c …Dr.
To Cash A/c
(Being Salaries paid)
9,000
9,000
Jan 31 By Salaries A/c 9,000
62880 62880
Jan 31 By Balance c/d 31440
Feb 1 To Balance b/d 31440
Jan 25 To Sales A/c 3,500

Capital A/c
2018
Jan 1
Cash A/c …Dr.
To Capital A/c
50,000
50,000
2018
Jan 1 By Cash A/c 50,000
Jan 31 To Balance c/d 50,000
50,000 50,000
Feb1 By Balance b/d 50,000
2018
Jan 7
Bank A/c …Dr.
To Cash A/c
6,000
6,000
Bank A/c
Jan 7 To Cash A/c 6,000 Jan31 By Balance c/d 6,000
6,000 6,000
Feb 1 To Balance c/d 6,000

2018
Jan 2
To Cash A/c
10,000
600
600
11,200
Purchases A/c
Jan 2 To Cash A/c 10,000
2018
Jan 5
To Mohan’s A/c
6,000
360
360
6,720
Jan 5 To Mohan’s A/c 6,000 Jan31 By Balance c/d 6,000
16,000 16,000
Feb 1 To Balance b/d 6,000
42
Date Particulars J
F
Amou
nt
Date Particulars J
F
Amount
Input SGST A/cInput CGST A/c
2018
Jan 2
To Cash A/c
10,000
600
600
11,200
2018
Jan 5
To Mohan’s A/c
6,000
360
360
6,720
Jan 2 To Cash A/c 600
Jan 2 To Cash A/c 600
Jan 5 To Mohan 360
Jan 5 To Mohan 360
2018
Jan 10
To Cash A/c
2,000
120
120
2,240
Jan 10 To Furniture A/c 120
Jan 10 To Furniture A/c 120
1,080 1,080
Jan31 By Balance c/d 1,080
1,080 1,080

Mohan’s A/c
2018
Jan 5
To Mohan’s A/c
6,000
360
360
6,720
2018 By Purchases A/c 6,000
Jan5 By Input CGST A/c 360
2018
Jan 27
To Cash A/c
(Being cash paid to Mohan)
3,000
3,000
6,720 6,720
Jan 31 To Balance c/d 3,720
Jan31 By Balance b/d 3,720
2018
Jan 10
To Cash A/c
2,000
120
120
2,240
Furniture A/c
2,000 2,000
Feb1 To Balance c/d 2,000

2018
Jan 15
Cash A/c …Dr.
To Sales A/c
TO Output CGST A/c
To Output SGST A/c
8,960
8,000
480
480
2018Jan
15
CASH A/c
Dat
e
Particulars J
F
Amo
unt
Date Particulars J
F
Amoun
t
2018
Jan
15
To Sales A/c 8,000
Sales A/c
By Cash A/c 8,000
Dat
e
Particulars J
F
Amo
unt
Date Particulars J
F
Amoun
t
2018
Jan
15
Output CGST A/c
By Cash A/c 480
Dat
e
Particulars J
F
Amo
unt
Date Particulars J
F
Amoun
t
2018
Jan
15
output SGST A/c
By Cash A/c 480

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