Class 11 Account Note: Journal Voucher/ Compound Transaction /Journal Entries Note

Journal Voucher/ Compound Transaction /Journal Entries

Practice For Class 11 NEB (New Course)

 

On the basis of increase and decrease .

1. Assets

increase = Debit

decrease = Credit

2. Expenses

increase = Debit

decrease = Credit

3. Income and gains

increase = Credit

decrease = Debit

4. 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

1. Goods purchased for Rs. 10,000 and cheque issued after deducting 5%
2. A cheque of Rs. 20,000 received from gita for settele of her account Rs. 20,100 .
3. 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

1. Goods returned to ram for Rs. 10,000
2. Goods returned from ABC enterprises for Rs. 5,000
3. Goods for Rs. 15,000 returned to xyz company.
4. Depreciation charged on furniture 10,000
5. 2,000 charge as depreciation on machinery.
6. 50,000 owned by abc company got insolvent and amount is written off as bad debts.
7. 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

1. Cash Rs. 10,000 drawn from bank for office use.
2. 20,000 drawn from bank for personal use.
3. 10,000 recovered by ram previously written off as bad debt .
4. Good costing of Rs. 5,000 were sold for Rs. 7,000.
5. Good costing of Rs. 5,000 were sold for Rs. 4,000.
6. 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