TEST 2: - ACCOUNTS

JOURNAL (WITH GST) AND LEDGER

Q1 Journalise the following transactions in the books of Mr. Ashok Gehlot, Rajasthan.
Mr. Ashok had balances in his book on 1st April, 2020. Cash in Hand ₹ 52000, Cash at Bank ₹
59820, Furniture ₹ 42560, Bills Receivable ₹4200, Advance Salary ₹ 5000, Outstanding Rent
₹6200, Bills payable ₹56000, Mahesh Babu (Dr.) ₹42900 Sunil Pal (Cr.) ₹8200.
April 2 Deposited into bank cheque of ₹8000 received from Murli on Behalf of Mr. Sunil
Sharma in full settlement of his account of ₹ 8250.
April 3. Bought Machinery from Rahul Tech. and paid for cartage and installation ₹500 and
4500 respectively.
April 6. Honoured bill payable to us by cheque.
April 8. Paid rent of ₹ 5000 along with outstanding rent by cash.
April 9 Bought 1000 Shares of XYZ Reliance Jio @510 each paid brokerage of ₹1 per share.
April 11 Bought second hand machinery worth ₹125000 and over-hauling charges of ₹
25000.
April 19 Received a cheque of ₹ 42000 in full settlement from Mr. Mahesh Babu.
April 21 Deposited the cheque received on April 19.
April 24 Cheque received on April 19 got dishonoured.
April 28 Goods lost by fire Worth ₹45000. Claim to Insurance company was made on very
same day.
April 30 Received Cheque from Insurance company accepting 60% of the claim.
April 30 Mr. Mohan our debtor became insolvent and paid 55 Paise in Rupee. He owed us
₹60000.
April 30 Received goods worth ₹4000 as free samples.
[15 marks]
 TEST 2: - ACCOUNTS

Q2 Journalise the transactions in the books of M/s Jholar Pandey of Pune for the month
of March,2020.
M.1 Purchased goods from Vishal Traders, Nagpur worth ₹100000 less 10% TD. Paid half the
amount immediately to avail 5% CD.
M.3 Sold goods costing ₹400000 to Bholeram, Goa at 20% profit on cost less 10% TD.
Provided 10% CD on 1/4th amount received by cheque.

*M.9 Paid Salary to Ramesh and Suresh ₹10000 each. Half of the salary paid to Suresh
was in advance.
M. 11 Paid for advertisement ₹20000.
M. 15 Vishal Traders returned good costing ₹10000 to us they were faulty.
M. 19 Goods distributed as free samples worth ₹15000.
M. 23 Paid insurance premium of ₹12000 for our goods lying in godown.
M. 27 Rebate received from Mahesh traders of ₹2000.
M. 28 Paid Rent ₹20000 half of the property is used for personal use.
Transactions written in bold are not subject to GST. CGST and SGST is @6% each and IGST
is of @12%.
[10 marks]
 TEST 2: - ACCOUNTS
Q3 Pass journal entries and draw ledger accounts in the books of Raju Bhai, Bhilwar
District.
On 1st April he had following balances
Cash ₹ 26500, Bank ₹ 25000, Capital ₹125000, Machinery ₹125000, Ramsukh (Dr.) 25000,
Mansukh (Cr.) 39000 Bank Loan ₹ 42000.
April 5 Received Cheque from Ramsukh ₹12000.
April 7 Deposited the cheques received on April 5.
April 9 Cheque dishonoured received on April 5.
April 11. Paid Salary ₹ 20000.
April 13. Outstanding Salary ₹ 2000.
April 15. Bought goods from Mansukh ₹20000.
April 19. Sold goods to Ramsukh ₹16000.
April 21. Repaid half of the loan together with interest of Rs. 2500.
[15 marks]
BEST OF LUCK