Journalize the following transactions in the books of Mr. x 1 June, 2015: Mr. X started business with a capital of Rs. 50000 3 June: Purchased goods for cash Rs. 20000 5" June: Sold goods on cash Rs.3000 6" June: Paid wages to workers Rs. 300 7" June: Received from Pankaj Rs.5000 g" June: Cash deposited into bank Rs 1500 o! June: Cash withdrawn from bank Rs. 1000 10” June: Paid Ram by cheque Rs. 500 1s" June: Paid salary and rent Rs. 1000 and Rs. 100 respectively. Journalize the following transactions in the books of Mr. X 1 Jan 2015: Commenced business with Cash Rs. 10000 2" Jan 2015: Paid into bank Rs. 8000 3" Jan 2015: Purchased goods for cash Rs. 500 4" Jan 2015: Bought furniture for office use by cheque Rs. 500 5" Jan 2015: Drew from bank for office use Rs.900 6" Jan 2015: Cash sales Rs 4000 7" Jan 2015: Goods sold to Gopal Rs 1500 8" Jan 2015: Bought Goods from Mr. Ram Rs. 510 9" Jan 2015: Paid trade expenses Rs. 200 10” Jan 2015: Paid wages Rs 500 11" Jan: Paid rent Rs 1200 12" Jan: Paid ram is full settlement Rs. 500 Mr X started business with Rs 10000 Deposited into bank 4000 Purchased goods on credit from Ram 4000 Paid cash to Mohan 3000 Cash Sales 500 Sold goods to Sohan 1000 Received cash from Ganesh 2000 Purchased goods for cash 6000 Withdrew cash from bank 2000 Received i interest from bank 280 inery for2015 January 1. 4. We 12. 14. aSy 16. 18. 20. 25. 28. 30. 31. ak. Purchased goods for cash from Rahul Purchased goods from NarenRs. 40,000 Sold goods for cash Cash deposited into bank Purchased machinery for cash Sold goods to JatinRs. 10,000 Returned goods to NarenRs. 30,000 Paid to Naren by chequeRs. 10,000 Withdrew from bank for personal use Received cheque from JatinRs. 20,000 Paid salary for the month of January Received bank interest Purchased stationery for cash Paid electric bill for the month of JanuaryRs. 1200 Moban started business on 1" January, 2015 with Plant and Machinery Rs. 40 Furniture Rs. 10,000, Building Rs. 50,000 and following transactions for the month of January in Cash Rs. 80000. Journalize th the books of Mohan. Rs. 35,000 Rs. 70,000 Rs. 80,000 Rs. 90,000 Rs. 10,000 Rs. 10,000 Rs. 600 Rs. 1000 2 Pass Journal entries for the following transactions in the books of Mr. X july 1. Started business with capital 2. Purchased chairs, tables, etc. from Sen & Co. 3. Bought goods 4, Paid rent 5, Paid electric bill 10. Collection from cash sales 12. Sold goods to Roy 14. Cash received from Ram 18. Purchased goods from Priya Rs. 3400 20. Paid wages 25. Paid monthly salary 27. Returned goods to Priya Rs. 1200 28. Cash withdrawn from business for 30. Paid sundry expenses personal use Rs. 5000 Rs. 4000 Rs. 1000 Rs. 1500 Rs. 1600 Rs. 3000 Rs. 1200 Rs. 2500 Rs. 1100 Rs. 2000 Rs. 1000 —Journalize the following transactions in the books of Mr. Rayi Kumar. 2015 May, 1. He commenced business with cash Rs. 25000 He opened account with bank and deposited Rs, 20000 2. Purchased goods on credit from Mohan Rs. 3000 3. Purchased machinery for cash Rs. 12000 4, Withdrew from bank Rs. 5000 5, Purchased office equipment for cash Rs. 1000 6. Purchased goods for cash from Sohan Rs. 6000 9. Purchased goods for cash Rs. 1000 10. Sold goods on eredit to Ram Rs. 2000 12. Purchased stationery for cash Rs. 600 14, Paid insurance premium Rs. 2500 15. Withdrew from bank Rs. 1000 17. Paid to Mohan Rs. 2000 19. Sold goods for cash to Rahul Rs. 3200 20. Deposited into bank Rs. 1000 25. Rent paid Rs. 1600 30. Drew from business for private use Rs. 1000 Paid salaries to clerks Rs. 2200 Paid telephone charges Rs. 700 Journalize the following transactions in the books of Mr. Sagar 1. Commenced business with cash Rs, 10000, goods Rs. 5000, Plant and Machinery Rs. 5000 . Deposited into bank 10000 . Purchased raw materials for Rs. 2000 and furniture for Rs. 8000 . Sold goods to Mr. X for Rs.5000 at 12% trade discount. . Purchased goods for Rs. 3000 and paid by cheque. . Paid cash for advertisement Rs. 700 and rent Rs 1200 . Withdrew from bank for personal use Rs. 2000 . Goods sold to Krishna Kant Rs. 2000 9. Paid wages Rs.300 10. Received from Krishna Kant Rs, 1970 and Discount Allowed Rs. 30 11. Paid LIC premium by cheque Rs. 1500 12. Rent received Rs. 3000 13. Received Loan from Anil and deposited into bank Rs. 8000 14. Paid travelling expense by cheque Rs.1200. ANWAYWN on 3Journalize the following transactions and post them in Ledger Accounts and balance them: 2015 July, 1“ Started business with cash Rs. 70000 July, 4" Cash deposited into bank Rs. 50000 July, 5"Received house rent from Ram Rs 2000 July, 8"Purchased goods by cheque Rs. 15000 July, 9" Paid salaries by cheque Rs. 3000 July, 10"Purchased a machine in cash Rs. 5000 July, 11" Received Loan from Raju and deposited into bank Rs. 20000 July, 12" Rent received Rs. 10000 July, 15"Received cash from Manoj Rs. 2500 July, 18" Paid travelling expenses by cheque Rs. 2500 July, 27" Receivedcash from Priya. July, 29" Withdrawn from bank for personal use Rs. 3000 July, 31" Paid wages Rs. 3200 Journalize the following transactions and post them in Ledger Accounts and balance them: 2015 July, i Mr. X started business with cash Rs. 50000 2 Bought goods for cash Rs. 30500 3 Opened an account with State Bank of India Rs. 70000 4 Sold goods for cash Rs. 25000 7 Bought goods from Sanjay on credit Rs. 65000 10 Paid wages and salaries Rs. 12000 11 Sold goods to Ashutosh on credit Rs 80000 15 Purchased Plant and Machinery for cash Rs. 40000 19 Paid to Sanjay in cash Rs. 10000 21 Received loan from Anil and deposited the same into bank Rs. 30000 23 Goods returned to Sanjay Rs. 5000 26 Withdrew from bank for personal use Rs. 7000 27 Paid to Sanjay by chequeRs. 8000 29 Received cash from Ravi Rs. 20000 30 Received interest from bank Rs. 500 31 Purchased stationery for cash Rs 200Practice set: Journalize the following transactions and post them in the respective Ledger Accounts. 2015 1" July, Started business— Cash Rs, 50000 Furniture Rs. 30000 3" July, Purchased goods Rs. 40000 7 July, Sold goods Rs. 20000 9" July, Cash deposited into bank Rs.15000 15" July, Purchased machinery Rs. 34000 18" July, Purchased goods by cheque Rs. 7000 21" July, Purchased goods from Mallik Rs. 10000 24" July, Sold goods to Aman Rs. 8500 27" July, Paid salary and rent Rs. 12000 29" July, Received loan from Heena and deposited into Bank Rs. 40000 30° July, Withdrawn from bank for personal use Rs. 23000 31% July, Paid wages Rs 350 Pass necessary journal entries and post them in the appropriate Ledger Accounts of P. Basak for the month of July 2014 | Started business with Rs. 200000 in the bank and Rs. 40000 cash 1 Bought shop fittings Rs. 40000 and a van Rs. 60000, both paid by cheque 2 Paid rent by cheque Rs. 3700 3 Bought goods for resale on credit from Zakir & Co. Rs. 50000 5 Cash Sales Rs. 5000 8 Paid wages to assistant in cash Rs. 4000 10 Paid insurance by cheque Rs. 5000 12 Cash Sales Rs. 8000 15 Paid wages in cash Rs. 1000; Goods returned to Zakir& Co. Rs.7000 17 Paid Zakir& Co. Rs. 25000 by cheque 19 Bought goods for resale on credit from Rao & Co. Rs. 26000 20 Paid office expenses Rs. 4500 22 Bought stationery, paid in cash Rs. 1000 25 Cash Sales Rs. 15000 27 Paid Rao & Co. Rs. 10000 by cheque 30 Paid Rs. 20000 into the bank