Journal Voucher/ Compound Transaction /Journal Entries
Practice For Class 11 NEB (New Course)
On the basis of increase and decrease .
- Assets
increase = Debit
decrease = Credit
- Expenses
increase = Debit
decrease = Credit
- Income and gains
increase = Credit
decrease = Debit
- Capital and Liablities
increase = Credit
decrease = Debit
Journal Voucher
Journal is the book of original entry in which the financial transactions are recorded according to double entry system of book keeping .
Journal is beginning steps of accounting activities . It is the primary record of daily transactions .
Format:
| Date | Particular | l.f. | Dr. amount | Cr. amount |
Question:
Prepare Journal voucher from the following transactions.
Jan 1 : Ram started business with cash Rs. 75,000
Jan 5 : Cash 50,000 deposited into bank
Jan 9 : Goods purchased for Rs. 10,000
Jan 11 : Cash purchased made Rs. 15,000
Jan 15 : Good sold on Cash for Rs. 5,000
Jan 21 : Cash sales made for Rs. 25,000
Jan 25 : Wages paid on cash Rs. 3,000
Ans: Journal Entries
| Date | Particulars | If | Dr. amount | Cr. amount |
| Jan 1 | Cash a/c dr.
To capital a/c ( Being business started with cash) |
75,000 |
75,000 |
|
| Jan 5 | Bank a/c dr.
To cash a/c ( Being cash deposited into bank) |
50,000 |
50,000 |
|
| Jan 9 | Purchase a/c dr.
To cash a/c ( Being goods purchased on cash) |
10,000 |
10,000 |
|
| Jan 11 | Purchase a/c dr.
To cash a/c ( Being cash purchased) |
15,000 |
15,000 |
|
| Jan 15 | Cash a/c dr.
To sales a/c ( Being goods sold on Cash) |
5,000 |
5,000 |
|
| Jan 21 | Cash a/c dr.
To sales a/c ( Being goods sold on cash ) |
25,000 |
25,000 |
|
| Jan 25 | Wages a/c dr.
To cash a/c ( Being wages paid on cash) |
3,000 |
3,000 |
|
|
Total |
1,83,000 |
1,83,000 |
||
Question:
Prepare Journal Voucher .
April 5 : Goods purchased for Rs. 10,000 and amount paid by cheque .
April 10 : Goods sold and amount received by cheque Rs. 30,000 .
April 15 : Machinery purchased for Rs. 20,000 .
April 19 : Furniture sold for Rs. 25,000 and amount received by cheque .
April 21 : Good sold to Gopal for Rs. 5,000 .
April 25 : Purchased from ABC company Rs. 10,000 .
Journal Entries
| Date | Particulars | lf | Dr. amount | Cr. amount |
| April 5 | Purchase a/c Dr.
To bank a/c ( Being goods purchased and paid by cheque) |
10,000 |
10,000 |
|
| April 10 | Bank a/c Dr.
To sales a/c ( Being goods sold and amount received by cheque ) |
30,000 |
30,000 |
|
| April 15 | Machinery a/c Dr.
To cash a/c (Being machinery purchased on cash) |
20,000 |
20,000 |
|
| April 19 | Bank a/c Dr.
To furniture a/c ( Being furniture sold and amount received by cheque ) |
25,000 |
25,000 |
|
| April 21 | Gopal a/c Dr.
To Sales a/c ( Being goods sold to gopal) |
5,000 |
5,000 |
|
| April 25 | Purchase a/c Dr.
To ABC co. a/c ( Being goods purchased from ABC company ) |
10,000 |
10,000 |
|
| Total | 1,00,000 | 1,00,000 | ||
NOTE : On purchase or sales transactions names are mentioned but cash or cheque did not mention the transactions are credit transaction.
Compound Transaction question.
Jestha 5 : goods purchase for Rs. 20,000 out of which Rs. 15,000 paid by cash and rest by cheque .
Jestha 9 : Machinery sold to xyz company for Rs. 50,000 of which Rs. 20,000 on cash and rest on credit .
Jestha 15 : Loan received from Ram for Rs. 15,000 on cash and 10,000 by cheque .
Jestha 25 : Salary Rs. 5,000 wages Rs. 3,000 and Interest Rs. 1,000 paid by cash .
Jestha 30 : Furniture sold to Bikash company for Rs. 25,000 of which Rs. 10,000 received by cheque and rest on credit .
Journal Entries
| Date | Particulars | lf | Dr amount | Cr. Amount |
| Jestha 5 | Purchase a/c Dr.
To Cash a/c To Bank a/c (Being good purchase and amount paid by cash and cheque ) |
20,000 |
15,000 5,000 |
|
| Jestha 9 | Cash a/c Dr.
XYZ co. a/c Dr. To machinery a/c ( Being machinery sold on cash and credit ) |
20,000
30,000 |
50,000 |
|
| Jestha
15 |
Cash a/c Dr.
Bank a/c Dr. To Ram’s a/c ( Being Loan received from ram) |
15,000
10,000
|
25,000 |
|
| Jestha 25 | Salary a/c Dr.
Wages a/c Dr. Interest a/c Dr. To Cash a/c ( Being salary ,wages and interest paid by cash) |
5,000
3,000 1,000 |
9,000 |
|
| Jestha 30 | Bank a/c Dr.
Bikash co. a/c Dr. To furniture a/c ( Being furniture sold to bikash company) |
10,000
15,000 |
25,000 |
Question:
5-1 Goods sold to abc company for Rs. 10,000 less 10% trade discount.
5-3 Cash purchase made for Rs. 20,000 less 5% trade discount .
5-10 Machinery purchased for Rs. 20,000 less 10% cash discount .
5-15 Furniture sold for Rs. 15,000 and a cheque received after 5% discount.
Journal Entries
| Date | Particulars | Lf | Dr. amount | Cr.amount |
| 5-1 | ABC co. a/c Dr.
To sales a/c (Being good sold to ABC co. and trade discount) |
9,000 |
9,000 |
|
| 5-3 | Purchase a/c Dr.
To cash a/c (Being goods purchased) |
19,000 |
19,000
|
|
| 5-10 | Machinery a/c Dr.
To discount a/c To cash a/c (Being Machinery purchased) |
20,000 |
2,000 18,000 |
|
| 5-15 | Bank a/c Dr.
Discount a/c Dr. To furniture a/c ( Being furniture sold) |
14,250
750 |
15,000 |
Note : Cash discount must be recorded in journal entry . Given discount is less , it must be debited . Received discount is income it must be credited .
Question
- Goods purchased for Rs. 10,000 and cheque issued after deducting 5%
- A cheque of Rs. 20,000 received from gita for settele of her account Rs. 20,100 .
- Cash Rs. 50,000 received from ABC company for full settled Rs. 51,000 .
Journal Entries
| Date | Particulars | Lf | Dr. amt | Cr. amt | |
| 1 | Purchase a/c Dr.
To bank a/c To discount a/c ( Being goods purchased) |
10,000 |
9,500 500 |
||
| 2 | Bank a/c Dr.
Discount a/c Dr. To Gita’s a/c ( Being cheque received From gita) |
||||
| 3 | Cash a/c Dr.
Discount a/c Dr. To ABC co. a/c (Being cash received from ABC company) |
50,000
1,000 |
51,000 |
||
Question
- Goods returned to ram for Rs. 10,000
- Goods returned from ABC enterprises for Rs. 5,000
- Goods for Rs. 15,000 returned to xyz company.
- Depreciation charged on furniture 10,000
- 2,000 charge as depreciation on machinery.
- 50,000 owned by abc company got insolvent and amount is written off as bad debts.
- 60,000 owned by xyz company and could pay only Rs. 50,000 the rest amount is written off as bad debt.
Journal Entries
| Date | Particulars | lf | Dr. amt | Cr. amt | ||
| 1 | Ram a/c Dr.
To purchase return a/c (Being goods return to Ram) |
10,000 |
10,000 |
|||
| 2 | Sales return a/c Dr.
To abc enterprise a/c (Being goods return from abc enterprise) |
5,000 |
5,000 |
|||
| 3 | Xyz co. a/c Dr.
To purchase return a/c ( Being goods returned to xyz co.) |
15,000 |
15,000 |
|||
| 4 | Depreciation a/c Dr.
To furniture a/c ( Being depreciation charged on furniture) |
10,000 |
10,000 |
|||
| 5 | Depreciation a/c Dr.
To Machinery a/c ( Being depreciation charged on machinery) |
2,000 |
2,000 |
|||
| 6 | Bad debt a/c Dr.
To abc co. a/c (Being amount owned by abc com written off as bad debt) |
50,000 |
50,000 |
|||
| 7 | Cash a/c Dr.
Bad debt a/c Dr. To xyz co. a/c (Being xyz company paid the amount) |
50,000
10,000 |
60,000 |
|||
| Total | 1,52,000 | 1,52,000 | ||||
Question
- Cash Rs. 10,000 drawn from bank for office use.
- 20,000 drawn from bank for personal use.
- 10,000 recovered by ram previously written off as bad debt .
- Good costing of Rs. 5,000 were sold for Rs. 7,000.
- Good costing of Rs. 5,000 were sold for Rs. 4,000.
- Building sold for Rs. 50,000 to kumar and cheque of Rs. 30,000 received as partial payment .
Journal Entries
| Date
|
Particular | lf | Dr. amt | Cr. amt | |
| 1 | Cash a/c Dr.
To Bank a/c (Being cash drawn from bank) |
10,000 |
10,000 |
||
| 2 | Drawing a/c Dr.
To Bank (Being cash Drawn) |
20,000 |
20,000 |
||
| 3 | Cash a/c Dr.
To bad debt recover a/c (Being bad debt recoverd) |
10,000 |
10,000 |
||
| 4 | Cash a/c Dr.
To sales a/c To profit on sale a/c (Being goods sold on profit) |
7,000 |
5,000 2,000 |
||
| 5 | Cash a/c Dr.
Loss on sale a/c Dr. To sales a/c ( Being good sold on loss)
|
4,000
1,000 |
5,000 |
||
| 6 | Banka/c Dr.
Kumar a/c Dr. To building a/c (Being bulding sold and cheque received) |
30,000
20,000 |
50,000 |
||
| Total | 1,02,000 | 1,02,000 | |||