Question No 38 Chapter No 5 - USHA Publication 11 Class

Question No 38 Chapter No 5

Table of Contents

38. Journalise the following transactions in the book of Raj Deshpande:

2018
Apr.1	Debited balance : Cash in hand Rs 18,000, cash at bank Rs 25,600, Stock of good Rs 20,000, Furniture Rs 4,000 and Building Rs 20,000, Sourav Rs 2,700, Nitin Rs 1,500, Ashwini Rs 2,000, credit Balance : sunny Rs 5,400, Sahil and Co. Rs 9,000 and Aishwarya Rai Rs 5,500, Mrs S’s Loan Rs 20,000
Apr.3	Purchased goods worth Rs 10,000 less 20% trade discount and 5% cash discount
Apr. 7	Sold goods to Vinod on credit Rs 12,000
Apr. 11	Vinod became insolvent and could pay only 50 paise in a rupee
Apr. 15	Bought 100 shares in Ambani Electronic Ltd.@10per share and paid brokerage Rs 40
Apr. 19	Paid to Babu interest on Laon Rs 250
Apr. 24	Goods worth Rs 800 given as charity
Apr. 27	Depreciation machinery @10% on Rs 60,000
Apr. 30	Amount due from Kumar previously written off as bad, now recovered Rs 2,000
Apr. 30	Income tax paid by cheque Rs 800

In the Books of Raj Deshpande
Date	Particulars		L.F.	Debit	Credit
2018
Apr. 1	Cash A/c	Dr.		18,000
	Bank A/c	Dr.		25,600
	Stock A/c	Dr.		20,000
	Furniture A/c	Dr.		4,000
	Building A/c	Dr.		20,000
	Sourav A/c	Dr.		2,700
	Nitin A/c	Dr.		1,500
	Ashwani A/c	Dr.		2,000
	To Sunny A/c				5,400
	To Sahil and co. A/c				9,000
	To Ashwarya pillani A/c				5,500
	ToMrs S’s Loan A/c				20,000
	To loan A/c To capital A/c				53,900
	(Being opening entry passed with assets and liabilities )

Apr. 3	Purchases A/c	Dr.		8,000
	To Cash A/c				7,600
	To Discount A/c				400
	(Being purchases goods from Kamal Chaudhary)

Apr. 7	Vinod A/c	Dr.		12,000
	To Sale A/c				12,000
	(Being sold on credit )

Apr. 11	Cash A/c	Dr.		3,500
	Bad debts A/c	Dr,		3,500
	To Vinod A/c				7,000
	(Being Receipts of 50% of the amount due & remaining treated as bad)

Apr. 15	Investment A/c	Dr.		12,000
	To Cash A/c				12,000
	(Being purchased 800 share @ Rs10 each & brokerage paid )

Apr. 19	Interest on loan A/c	Dr.		250
	To CashA/c				250
	(Being interest on the loan paid in cash )

Apr. 24	Charity A/c	Dr.		800
	To Purchases A/c				800
	(Being goods distributed as a charity )

Apr. 27	Depreciation A/c	Dr.		6,000
	To Machinery A/c				6,000
	(Being Depreciation @10%on Machinery provided )

Apr. 30	Cash A/c	Dr.		4,400
	To Bad Debts Recovered A/c				4,400
	(Being Bad debts recovered from Kumar)

Apr. 30	Drawing A/c	Dr.		800
	To Bank A/c				800
	(Being Income tax paid by cheque )