Pass Journal entries in the books of Puneet, Delhi for the following: Received an order from Karan & Co. for supply of goods of ₹ 50,000.
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Journalise the following transactions in the books of Mohan, Delhi: Raj of Alwar, Rajasthan who owed Mohan ₹ 25,000 became insolvent and received 60 paise in a rupee as full and final settlement.
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Journalise the following in the books of Amit Saini, Gurugram (Haryana): Goods of ₹ 5,000, out of goods purchased within the state, were taken by him or personal use.
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Journalise the following transactions in the books of Gupta Bros., Lucknow (UP): Started business with cash ₹ 30,000; goods of ₹ 15,000 and furniture of ₹ 20,000
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Journalise the following transactions in the books of Gurman of Delhi: Sold goods to Krishna of Delhi at the list price ₹ 20,000 less trade discount 10% add CGST and SGST @ 9% each., and allowed cash discount 5%
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(Adjustment Entries). From the following information available on 31st March, 2022, pass the necessary Adjustment Entries in the Journal for the year ending on that date:
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(Transfer Entries). Give the Journal entries for the following: Gross Profit of ₹ 32,000 from Trading Account to Profit & Loss Account.
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(Closing Entries). Given the necessary entries in the Journal Proper of Ram on 31st March, 2023 to close his books:
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Prepare Returns Inward and Returns Outward Book of Manoj, Mumbai from the following transactions and post them in Ledger Accounts:
Solution:- In the Book of M/s Manoj, Mumbai Return Outward Book In the Book of M/s Manoj, Mumbai Return Inward Book
Enter the following transactions in the Sales Return Book of Ravi Computers, Delhi: Sohan & Sons, Delhi returned 2 Laptops HP sold @ ₹ 40,000 each
Solution:- In the Book of M/s Ravi Computers, Delhi: Sales Return Book