Journalise the following in the books of Som Nath & Sons :

2018

May 1 Purchased a Machinery for ₹ 1,00,000 and the payment was made by issuing a cheque from Proprietor's saving bank account.

4 Received an order from Chakravarti for goods of ₹ 4,00,000 along with a cheque of 10% of the order as advance.

8 Paid cash ₹ 8,000 to Dushyant and discount allowed by him ₹ 800.

10 Goods stolen by an employee (Sale Price ₹ 20,000; Cost ₹ 15,000).

15 Purchased stationery worth ₹ 8,000 for office use and ₹ 2,000 for personal use.

20 Manoj pays us ₹ 5,400 after deducting 10% for prompt payment.

28 Sold goods to Kuber costing ₹ 2,00,000 at 25% above cost less trade discount of 10% and cash discount of 5%. Kuber did not avail the cash discount.

Open in App

Solution

Journal

Date

Particulars

L.F.

Debit

Amount

(₹)

Credit

Amount

(₹)

2018

May 01

Machinery A/c

Dr.

1,00,000

To Capital A/c

1,00,000

(Purchased Machinery and payment made through personal bank account)

May 04

Bank A/c

Dr.

40,000

To Advance against Sales A/c

40,000

(Advance cheque received from Chakravarti against a sales order)

May 08

Dushyant A/c

Dr.

8,800

To Cash A/c

8,000

To Discount Received A/c

800

(Paid to Dushyant)

May 10

Loss by Theft A/c

Dr.

15,000

To Purchases A/c

15,000

(Goods stolen by employee)

May 15

Stationery A/c

Dr.

8,000

Drawings A/c

2,000

To Cash A/c

10,000

(Purchased stationery for office and personal use)

May 20

Cash A/c

Dr.

5,400

Discount Allowed A/c

600

To Manoj A/c

6,000

(Received from Manoj)

May 28

Kuber A/c

Dr.

2,25,000

To Sales A/c

2,25000

(Sold goods to Kuber)

4,04,800

4,04,800

Suggest Corrections

Similar questions

2018
March 2	Sold goods to Dilip of the list price of ₹ 62,000 for ₹ 60,000.
16	Purchased goods costing ₹ 2,00,000 from Hari & Co. Paid 75% immediately by cheque to avail 4% discount.
20	Sold goods to Vishal Traders costing ₹ 40,000 at 25% profit, allowing 10% trade discount and 10% cash discount. Received 80% payment immediately by cheque.
26	Sold goods to Brij & Co. costing ₹ 50,000 at 40% profit, allowing 10% trade discount and 5% cash discount. Brij & Co. paid the full amount by cheque and availed cash discount.

2019		₹
Jan. 1	Started business with cash	1,00,000
Jan. 3	Bought goods on credit from Gupta & Co., Delhi	20,000
Jan. 5	Cash sales	5,000
Jan. 8	Cash purchases	8,000
Jan. 10	Sold goods to Ahmed & Co., Lucknow	10,000
Jan. 11	Deposited cash in bank	50,000
Jan. 13	Purchased a computer for office	20,000
Jan. 15	Took a loan from Mehboob	70,000
Jan. 16	Goods returned by Ahmed & Co.	2,000
Jan. 17	Purchased furniture from Mehfil Mart, Kolkata	10,000
Jan. 18	Paid interest to Mehboob	2,000
Jan. 19	Received claim from Ahmed & Co. for defects in goods supplied to them. Claim was accepted and rebate was allowed.	1,000
Jan. 22	Paid rent by cheque	2,000
Jan. 24	Withdrew from bank	20,000
Jan. 25	Sales of goods at counter after allowing trade discount of 10%	10,000
Jan. 26	Goods purchased from Gupta & Co., Delhi were destroyed by accident	10,000
Jan. 27	Advertisement expenses paid through bank	5,000
Jan. 28	Ahmed & Co. settled their account by cheque	7,000
Jan. 29	Paid the due amount to Gupta & Co. by cheque after availing discount of ₹ 800
Jan. 31	Sold old newspapers	500

(i)	Bought goods from Nanak Bros. for ₹ 4,00,000 at 10% trade discount and 3% cash discount on purchase price. 25% of the amount paid at the time of purchase.
(ii)	Sold goods to Kumar & Sons. for ₹ 2,00,000 at 20% trade discount and 5% cash discount on sale price. 60% of the amount received by Cheque.
(iii)	Received from Gopi Chand ₹ 38,000 by Cheque after deducting 5% cash discount.
(iv)	Paid ₹ 20,000 for rent by Cheque.
(v)	Paid ₹ 50,000 for salaries by Cheque.
(vi)	Goods worth ₹ 10,000 distributed as free samples.
(vii)	₹ 5,000 due from Chanderkant are bad-debts.
(viii)	Sold household furniture for ₹ 15,000 and the proceeds were invested into business.

Join BYJU'S Learning Program

2018
May 1	Purchased a Machinery for ₹ 1,00,000 and the payment was made by issuing a cheque from Proprietor's saving bank account.
4	Received an order from Chakravarti for goods of ₹ 4,00,000 along with a cheque of 10% of the order as advance.
8	Paid cash ₹ 8,000 to Dushyant and discount allowed by him ₹ 800.
10	Goods stolen by an employee (Sale Price ₹ 20,000; Cost ₹ 15,000).
15	Purchased stationery worth ₹ 8,000 for office use and ₹ 2,000 for personal use.
20	Manoj pays us ₹ 5,400 after deducting 10% for prompt payment.
28	Sold goods to Kuber costing ₹ 2,00,000 at 25% above cost less trade discount of 10% and cash discount of 5%. Kuber did not avail the cash discount.

Journal
Date	Particulars		L.F.	Debit Amount (₹)	Credit Amount (₹)
2018
May 01	Machinery A/c	Dr.		1,00,000
	To Capital A/c				1,00,000
	(Purchased Machinery and payment made through personal bank account)

May 04	Bank A/c	Dr.		40,000
	To Advance against Sales A/c				40,000
	(Advance cheque received from Chakravarti against a sales order)

May 08	Dushyant A/c	Dr.		8,800
	To Cash A/c				8,000
	To Discount Received A/c				800
	(Paid to Dushyant)

May 10	Loss by Theft A/c	Dr.		15,000
	To Purchases A/c				15,000
	(Goods stolen by employee)

May 15	Stationery A/c	Dr.		8,000
	Drawings A/c			2,000
	To Cash A/c				10,000
	(Purchased stationery for office and personal use)

May 20	Cash A/c	Dr.		5,400
	Discount Allowed A/c			600
	To Manoj A/c				6,000
	(Received from Manoj)

May 28	Kuber A/c	Dr.		2,25,000
	To Sales A/c				2,25000
	(Sold goods to Kuber)
				4,04,800	4,04,800