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Journal 7.5
Solution: JOURNAL
Date Particulars L.F. Dr. (`) Cr. (`)
2022
April 1 Cash A/c ...Dr. 18,000
Bank A/c ...Dr. 25,600
Stock A/c ...Dr. 50,000
Furniture A/c ...Dr. 10,000
Building A/c ...Dr. 4,51,400
Vijay ...Dr. 2,700
Anil ...Dr. 1,500
Ashwani ...Dr. 2,000
Anupam ...Dr. 1,800
Madhu ...Dr. 5,000
To Anand 5,400
To Arya & Co. 77,000
To Balwant Rai 52,000
To Mrs. Anita’s Loan A/c 1,00,000
To Capital A/c (Balancing Figure) 3,33,600
(Being the balances of assets, liabilities and capital brought in from last year)
April 1 Purchases A/c ...Dr. 40,000
To Bank A/c 25,000
To Cash A/c 13,000
To Discount Received A/c 2,000
(Being the goods worth ` 50,000 bought at 20% trade discount
and 5% cash discount paid ` 25,000 by cheque and balance in cash)
Note: Trade discount is not shown but cash discount is shown
in the books.
April 3 Cash A/c ...Dr. 2,646
Discount Allowed A/c ...Dr. 54
To Vijay 2,700
(Being the cash received from Vijay and allowed him discount)
April 5 Investments A/c ...Dr. 1,530
To Cash A/c 1,530
(Being the purchase of 100 shares in Bharat Ltd. @ ` 15 per share
plus brokerage ` 30)
April 8 Railway Claim A/c ...Dr. 500
To Purchases A/c 500
(Being the claim sent to railway for goods damaged in transit)
April 10 Anand ...Dr. 5,400
To Cash A/c 5,292
To Discount Received A/c 108
(Being the cash paid to Anand and discount allowed by him)
April 13 Bank A/c ...Dr. 500
To Railway Claim A/c 500
(Being the cheque received in full settlement of claim for damages from railway)
April 15 Cash A/c ...Dr. 900
Bad Debts A/c ...Dr. 900
To Anupam 1,800
(Being the 50 per cent of amount due received from Anupam and balance
written off as bad debts)