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CA Foundation
Principles and Practice of Accounting
Test Paper
Journal Ledger
Time Allowed: 1 Hour Maximum Marks: 30

Q. Questions Marks
No.
1. Journalise the following transactions: 3
i) Allu is declared insolvent. He received from his official receiver a dividend of 60 paise
in the rupee on a debt of ₹1,000.
ii) Arjun who owed ₹2,000 has become insolvent. He pays a compensation of ₹50 paise
in the rupee.
iii) Received cash for a bad debt written off last year ₹700.
2. Journalise the following transactions in the books of K.G. Gupta: 5
i) Received ₹9,750 from Harry in full settlement of his account for ₹10,000.
ii) Received ₹9,750 from Rahul on his account for ₹10,000.
iii) Received first and final dividend of 60 paise in the rupee from the official receiver of
Mr. Ashok who owed ₹10,000.
iv) Paid ₹4,800 to Jai in full settlement of his account for ₹5,000.
v) Paid ₹4,800 to Vijay on his account against ₹5,000 due.
3. Record the following transactions in a Journal: 5
i) Withdrawn goods for personal use (Cost ₹500, Sales Price ₹700).
ii) Goods costing ₹500 given as charity.
iii)Received ₹975 from Raj in full settlement of his account for ₹1,000.
iv) Paid ₹1,400 to Sonu in cash in full settlement of his account for ₹1,500.
v) A cheque for ₹5,000 received from Sanjeev deposited into bank was returned
dishonoured.
4. Pass the opening entry on 1st April, 2018 on the basis of the following information taken 10
from the books of Mr. Ramesh. Also, post the opening entry:
₹
Cash in hand 20,000
Sundry debtors 60,000
Stock of goods 40,000
Plant 50,000
Land and Building 1,00,000
Sundry creditors 1,00,000

5. Journalise the following transactions: 7

i) Mr. Dinesh started business with cash ₹1,00,000 and a building valued at ₹5,00,000.
ii) Purchased goods amounting to ₹2,00,000 out of which goods of ₹1,80,000 were
purchased on credit from D. Lal.
iii) Sold goods on credit to Ramesh ₹1,60,000.
iv) Received cheque for ₹1,56,000 from Ramesh in full settlement of his account.
v) Paid ₹1,78,000 to D. Lal in full settlement of ₹1,80,000 due to him by cheque.
vi) An old machine with the book value of 80,000 is exchanged for a new machine of

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₹2,40,000. The old machine is valued at ₹50,000 for exchange purposes by Machine
Tools Ltd.
vii) Purchased a machinery from Pale & Sons for ₹50,000 on credit.

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