(c) Cash paid to creditors on account 30,000. 200000.5. Ibrahim a sole proprietor Commenced business with a capital of 2,00,000. DR. $10,000 TO PURCH. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students. Journalise the following transactions on following dates in the books of Gajanan. 25,000. Journalise the following transactions in the books of Gajanan. From the following transactions prepare necessary ledger accounts in the books of vinay and balance the same. (iii) Received from Akhil 38,000 in settlement of his dues of 40,000 in cash. Illustration 2: Journalise the following transactions in the books of trade Also make their Ledger Postings and prepare a Trial Balance. Journalise the following transactions. Purchased goods from Star and Co for cash Rs 20,000. 1 Question No.4 - Chapter No.8 - T.S. On 9th October, 2012 Vishwanaths acceptance for 120 days of Rs 15,500 dated 24th September, 2008 deposited into bank for collections. 2003-2022 Chegg Inc. All rights reserved. 25 Purchased Laptop of 40,000 and paid by cheque. PRINTABLE FOR KIDS; XII (12) HSC. Journalise The Following Transactions December 201928 The Vegas Transactions September 20210 Order The Following Sentences December 201984 Following Her October 20210 Stripe Transactions December 201941 The Benefits Of Following Jesus November 201932 Our Company 2008 Columbia Road Wrangle Hill, DE 19720 +302-836-3880 [email protected] Quick Links Journalise the following transaction in the Books of the M/* Bhanu Traders and Post them into the ledger. 2019 May. 3. Journalise the following transactions in the books of Gajanan. (b) Goods were sold in cash 1,00,000 and on credit 50,000 at cost price plus 20%. Started Business with cash Rs. 9. (ii) Credit purchase of goods 18,000. 10 Goods distributed as free samples $ 12,000 Mar. Received cheque of Rs.30,000 from Sati. 28. Journalise the following bill transactions as on 21st May, 2010 in the books of Prabodhan. 1500 as travelling expenses to salesman 8 Withdrew from . Sold goods to Satish on credit Rs.30,000. 30,000 . 19 Goods withdrawn by proprietor for personal use $ 3,800. | December,205 | | Rs. On 3rd October, 2012 Bankatlal informs Gajanan that Navnaths acceptance of Rs 16,000 endorsed to him dishonoured and noting charges paid Rs 200. Debit All Expenses And Losses. We review their content and use your feedback to keep the quality high. On 9thOctober, 2012 Vishwanaths acceptance for 120 days of Rs 15,500 dated 24thSeptember, 2008 deposited into bank for collections.C. (d) Cash received from debtors 10,000. Goods are going out of the Business therefore sales account is credited [Credit the Giver]. 2. 7. 9 Paid for Postage 10,000. 1st PUC Accountancy Recording of Transactions II Twelve Marks Questions and Answers. Grewal +1 Book 2019 Transaction No. 4. 2019 June 1 Started business with cash` 50,000, Bank ` 1,00,000, Goods worth` 50,000. Question No 02 Chapter No 5 - USHA Publication 11 Class. Journalise the following bill transactions as on 31st July, 2011 in the books of Pratapsing. 1. May 3. . Journalise the following transactions (Or) Record the following transactions in a Journal. May 3. Purchased goods for Rs.90,000 and amount paid by bank directly 7. Sold goods to Satish on credit Rs.30,000. 28,000 6 Paid Rs . Paid Rent to the shop owner Mr. Murugan 5,000. 3 Received from Akhil Rs 38,000 in settlement of his dues of Rs 40,000 in cash. Q. 50,000 cash Car valued Rs . 12. Bought Furniture for cash 20,000. 5. 8,000; Cash at Bank Rs. 1 Goods donated to Orphanage $ 10,000 Mar. Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. 12 Paid in to Dena Bank` 40,000. Journalise the following transactions in the books of Gajanan. Medium. 7 Sold goods to Satish on credit 30,000. (c) Charge depreciation @ 10% p.a for two months on machine costing 30,000. Sold goods to Satish on credit. June 7: Cash purchases Rs. 2,40,000 furniture 100,000 and stock worth Rs . 9 Sold goods to Urmila` 30,000 at 5% Trade Discount. 3. 3. A. Journalise the following transactions in the books of Gajanan 2018 October: 1. Books of Gajanan Journal Entry, Navnath A/c Dr. To Bankatlal A/c(Navanths acceptance endorsed ro Bankatlal was dishonoured and noting charges incurred), Bills Receivable A/c Dr To Kartik A/c(Bill drawn and accepted), Cash/Bank A/c Dr.Bad- Debts A/c Dr. To Joyti A/c(Joyti became insolvent and 40% of the amount recovered from his private estate), Bills Payable A/c Dr. To Pandurang A/c(Bill cancelled for renewal), Interest A/c Dr. To Pandurang A/c(Interest charges due on Rs 4,[emailprotected] 18% per annum for 2 months), Padurang A/c Dr. To Bills Payable A/c To Bank A/c(Cheque paid for Rs 3,500 and new bill has been accepted including interest charges), Concept: Accounting Treatment of Bill - Journal Entries and Ledger, Chapter 9: Bill of Exchange (Trade Bill) - Exercise 4 [Page 320], Micheal Vaz Accounts - Book Keeping and Accountancy HSC 12th Standard Maharashtra State Board, Maharashtra Board Question Bank with Solutions (Official), Mumbai University Engineering Study Material, CBSE Previous Year Question Paper With Solution for Class 12 Arts, CBSE Previous Year Question Paper With Solution for Class 12 Commerce, CBSE Previous Year Question Paper With Solution for Class 12 Science, CBSE Previous Year Question Paper With Solution for Class 10, Maharashtra State Board Previous Year Question Paper With Solution for Class 12 Arts, Maharashtra State Board Previous Year Question Paper With Solution for Class 12 Commerce, Maharashtra State Board Previous Year Question Paper With Solution for Class 12 Science, Maharashtra State Board Previous Year Question Paper With Solution for Class 10, CISCE ICSE / ISC Board Previous Year Question Paper With Solution for Class 12 Arts, CISCE ICSE / ISC Board Previous Year Question Paper With Solution for Class 12 Commerce, CISCE ICSE / ISC Board Previous Year Question Paper With Solution for Class 12 Science, CISCE ICSE / ISC Board Previous Year Question Paper With Solution for Class 10, HSC Commerce 12th Board Exam Maharashtra State Board, HSC Arts 12th Board Exam Maharashtra State Board, HSC Commerce (Marketing and Salesmanship) 12th Board Exam Maharashtra State Board. Postage is an expense for the Business therefore it is debited to debit side [Refer Nominal Account Formula]. 4 Purchased goods on account from Ali Rs . Received Dividend Rs.5,000. Journal Entry Journalise the following transactions on following dates in the books of Gajanan A. Paid for Wages Rs.15,000. 4.Journalise the following transactions in the books of Sanjay General Stores. Username * E-Mail * Password * . On 3 rd October, 2012 Bankatlal informs Gajanan that Navnath's acceptance of Rs 16,000 endorsed to him dishonoured and noting charges paid Rs 200. 5 Purchased goods from Mohan on credit` 80,000 at 10% Trade Discount. The following transactions took place: (a) Goods purchased in cash 80,000 and on credit 50,000. Started Business with cash Rs. 1. - Transaction No. Purchased goods for Rs.90,000 and amount paid by bank directly. Goods are not sold on cash basis therefore Satish account is debited [Refer Personal account formula]. Digital Transformation in Financial Service. Journalise the following transactions in the books of Gajanan 2019. May 3. Figure Out the Accounts Affected The very first thing you have to do when journalizing is an analysis of the transaction to figure out what accounts change and by how much. Purchased goods for Rs.40,000 and paid by RTGS. 10,00,000 of which 25% amount was borrowed from wife. M/s Ruchi trader started their cash book with the following balances on Dec. 01 2010: cash in hand 1,354 and balance in bank current account 7,560. Journalise the following bill transactions in the books of Gopal as on 14th August, 2010. Question 1. Prepare an Accounting Equation on the basis of the following transactions: (i) Started business with cash 70,000. . 31 Purchased goods for 40,000 and paid by RTGS, Chapter 3: Journal - Practical Problems [Page 84], Balbharati Book-keeping and Accountancy 11th Standard HSC Maharashtra State Board, Maharashtra Board Question Bank with Solutions (Official), Mumbai University Engineering Study Material, CBSE Previous Year Question Paper With Solution for Class 12 Arts, CBSE Previous Year Question Paper With Solution for Class 12 Commerce, CBSE Previous Year Question Paper With Solution for Class 12 Science, CBSE Previous Year Question Paper With Solution for Class 10, Maharashtra State Board Previous Year Question Paper With Solution for Class 12 Arts, Maharashtra State Board Previous Year Question Paper With Solution for Class 12 Commerce, Maharashtra State Board Previous Year Question Paper With Solution for Class 12 Science, Maharashtra State Board Previous Year Question Paper With Solution for Class 10, CISCE ICSE / ISC Board Previous Year Question Paper With Solution for Class 12 Arts, CISCE ICSE / ISC Board Previous Year Question Paper With Solution for Class 12 Commerce, CISCE ICSE / ISC Board Previous Year Question Paper With Solution for Class 12 Science, CISCE ICSE / ISC Board Previous Year Question Paper With Solution for Class 10, HSC Commerce (Marketing and Salesmanship) 11th Maharashtra State Board, HSC Commerce 11th Maharashtra State Board, (Being goods purchased and amount paid by Bank directly), (Being Laptop purchased and amount paid by cheque), (Being the goods purchased and amount paid by RTGS). On 11thOctober 2012Gajanansold goods to Kartik for Rs 4,500 and received own acceptance from him, which was given to milind of Rs 4,500 and due for payment on this date.D. View full document. Journalise the following transactions in the books or Mr. Tahir for the month of February 2021 . 21 Received Dividend 5000. Question No 03 Chapter No 5 - USHA Publication 11 Class. Journalising refers to recording business transactions systematically and in a summarised form in the journal. Journalise the following transactions in the books of Gajanan. Badrinath informs Kedarnath that Aloknath's . 2. Credit All Income And Gain. BELOWJournalise the following transactions in the books of Gajanan 2019. 2019 May 3 Purchased goods for 90,000 and amounts paid by Bank directly. A. Journalise the following transactions in the books of Gajanan2018 October:1. 161 cents. (ii) Received from Vikas 35,000 by cheque, allowed him discount of 750. Give Journal Entries for the following transactions in the books of Raja Ram & Co. : 2017 : March 3 : Bought goods for cash of the list price of 80,000 at 10% trade discount and 2 1 2 % cash discount. A. Journalise the following transactions int he books of Kedarnath: 1. Paid for postage. 5 : . 15. Grewal +1 Book 2019 Transaction No. Purchased goods for 90,000 and amount paid by Bank directly. Nominal Account: 1. Give their journal entries. Manuel Feb 6, 2021. Deposited cash Rs.10,000 into State Bank of India. B. Journalise the following transactions int he books of Kedarnath: OMTEX CLASSES An Educational Website. (d) Provide commission on capital of 1,50,000 at 6% p.a for 9 months. 20thOctober, 2012 recovered 40% of the amount due the private estate of Jyoti who declared as insolvent, against bill accepted by her for Rs 6,000 which was dishonoured on 29thSeptember, 2008.E. Bought from Kumar, goods on credit for Rs 30,000. goods to Ravi for Rs 5,000 against a cheque. 9. (iii) Received from Akhil 38,000 in settlement of his dues of 40,000 in cash. On 3rdOctober, 2012 Bankatlal informsGajananthat Navnaths acceptance of Rs 16,000 endorsed to him dishonoured and noting charges paid Rs 200.B. 25, 000; Cash at bank - Rs. Journalise the following transactions in the books of Dixit & Sons. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. 7 Sold goods to Satish on credit 30,000. Such a dilemma of debentures to manufacturers for consideration other than cash is known as the question of debentures for debentures. Journalise the following transactions in the book of gajanan answers: 1. Feb 2 Mr. Tahir commenced business with Rs . Debit Balances as on Jan. 1, 2006: Cash in hand Rs. Journalise the following transactions, post them into Ledger, balance the accounts and prepare a Trial Balance : Journalise the following transactions on following dates in the books of Gajanan A. Paid for. Do this courses and bright your future in Digital, Search: (Use /re/ syntax for regexp search). How to Journalize Transactions: Step-by-Step To perfectly journalize your transactions, there are three simple steps you have to follow. Answer: BELOW. | Started business with cash . Journalise the following transactions in the Book of Ms Beauti Traders Also post them in the Ledger2011RsDec 1Started business with Cash200000Dec 2Bought Of Experts are tested by Chegg as specialists in their subject area. Debit All Expenses And Losses. Journalise the following transactions in the books of Bhushan Agencies: (i) Received from Bharat cash 20,000, allowed him discount of 500. Question No 01 Chapter No 5 1. View solution > When balance as per Cash Book is the starting point which of the following is added: Medium. Journalise the following transactions in the books of Gajanan 2019 May 3 Purchased goods for 90,000 and amounts paid by Bank directly. Journalise the following transactions in the books of Bhushan Agencies: (i) Received from Bharat cash 20,000, allowed him discount of 500. 21 Received Dividend 5000. 10 Goods distributed as free samples $ 12,000 Mar. 40,000 at 20% Trade Discount and 1/5th amount paid in cash. Purchased Laptop of Rs.40,000 and paid by cheque. Cash is going out therefore credited to credit side [Refer Real Account Formula]. [Being deposited cash in state bank ofIndia]. E. On 21st October, 2012 Gajanan renews his acceptance of Rs 7,500 to Pandurang by paying cheque Rs 3,500 and accepting new bill for 2 months for the balance plus interest @ 18% p.a. 15 Received cheque of 30,000 from Satish. Nominal Account: 1. 15. The time for answering the question is over. Journalise the following transactions in the books of Mr. Vas. Transcribed image text: Journalise the following transactions in the books of James: Mar. 1 Goods donated to Orphanage $ 10,000 Mar. Journalise the following transactions in the books of James: Mar. Transcribed image text: Q2 Journalise the following transactions in the books of M/s Chand & Sons: S.No. Paid for Postage Rs.10,000. 3. 15 Received cheque of 30,000 from Satish. XI (11) FYJC: X (10) SSC: 9TH 5TH 6TH 7TH 8TH: BOARD SOLUTIONS: 2019 2020 . Transaction 1 The opening ledger balances of were as follows: Cash in hand - Rs. 12 Paid for Wages 15,000. Explanation: Journalise the following transactions in the books of Gajanan 2019. Register to add an answer. 31. 25 Purchased Laptop of 40,000 and paid by cheque. State the following Ledger Account under: (a) Real Account (b) Personal Account (c ) . 9 Paid for Postage 10,000. June 4: Purchased goods from Aniket worth Rs. 3 Purchased goods for 90,000 and amounts paid by Bank directly. Record the following transactions in Journal in the books of Shyam & Co., Delhi: (i) Received cash from Ram of Delhi for a bad debt written off last year Rs.. Register Now. 2,18, 000; Bills receivable - Rs.86,000; Debtors - Rs 2,23,000; Stock - Rs 3,12,000; Creditors - Rs 3,12,400; Equipment - Rs. View solution > Journalise the following transaction: 25. Vas started his business with cash Rs 1,00,000. 16 Goods donated to poor people on personal account $5,000 Mar. B. Show Full Solution. 2 Received from Vikas Rs 35,000 by cheque, allowed him discount of Rs 750. Purchased goods by cash and amount paid by Bank directly. Journalise the following transaction: Sold goods for Rs. 1. D. 20th October, 2012 recovered 40% of the amount due the private estate of Jyoti who declared as insolvent, against bill accepted by her for Rs 6,000 which was dishonoured on 29th September, 2008. Cash is going out of the business therefore credited to credit side [credit what goes out] Refer Golden Account Rules. Sol.2 A business buys some properties from the seller and instead of paying the seller in cash, the company may opt to offer debentures to the seller in lieu of purchases. ANSWER.. JOURNAL ENTRIES ( IN THE BOOKS OF JAMES).. MARCH 1, CHARITY ACCOUNT. Copyright 2022 -edaccountancy- all Rights Reserved. 2010 (Rs) 2010 (Rs) Dec 1 Hema started business with cash 1,00, 000 Dec 2 Open a bank account with SBI 30,000 Dec 4 Purchased goods from Ashu 20,000 Dec 6 Sold goods to Rahul for cash 15,000 Dec 10 Bought goods from Tata from cash 40,000 Dec 13 Sold goods to Suman 20,000 Dec 16 Received cheque from Suman . (b) Goods worth 2,000 were used by the proprietor. Journalise the following transactions on following dates in the books of GajananA. Journalize the following transactions in the books of Gaurav, post them into ledger and prepare trial balance for June 2016 : June 1: Gaurav started business with Rs. Digital transformation in financial services, Facebook Social Media Marketing (Meta Course), Facebook Marketing Analytics (Meta Course). 15 Received cheque of 30,000 from Satish. Learn more about Recording Transactions here in detail. Journalise the following transactions in the books of Gopal, a trader of Delhi: C. On 11th October 2012 Gajanan sold goods to Kartik for Rs 4,500 and received own acceptance from him, which was given to milind of Rs 4,500 and due for payment on this date. 16 Goods donated to poor people on personal account $5,000 Mar.
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