Question

Journalise the following transactions in the books of Nana.

Debit balances on 1st April 2012:-

Cash in hand Rs 5,000; Cash at Bank Rs 95,000' Land & Building Rs 2,10,000; Furniture Rs 15,000; Debtors Rs 10,000.

Credit Balances on April 1, 2012:- Creditors Rs 10,000; Bank Loan Rs 28,000.

Transactions during the month of April 2012:-

2012 April	1	Purchased goods worth Rs 30,000 for cash less Trade Discount.
	3	Sold goods to Meena Rs 25,000.
	7	Purchased goods from Seema worth Rs 12,000.
	9	Goods costing Rs 1,100 distributed as free samples.
	12	Received an amount of Rs 1,500 from Vikram which was previously written off as bad.
	14	Purchased goods from Bhushan Rs 30,000 at 10% Trade Discount and paid him 1/3rd amount in cash after getting 5% cash discount.
	20	Received cash gift Rs 10,000 from Father-in-law with which purchased shares of Infosis Co.
	24	Payment of Bank loan with interest Rs 6,000 [Interest amount Rs 1,500]
	28	Sold goods to Anil Rs 50,000 at 10% trade discount and received half the amount in cash, 5% cash discount allowed.
	29	Paid for Advertisement Rs 5,000.
	30	Withdrew cash Bank for personal purpose Rs 2,000.

Answer 1

In the Books of Nana

Journal
Date	Particulars		L.F.	Debit Amount (Rs)	Credit Amount (Rs)
April 2012
1	Cash in Hand A/c	Dr.		5,000
	Cash at Bank A/c	Dr.		95,000
	Land and Building A/c	Dr.		2,10,000
	Furniture A/c	Dr.		15,000
	Debtors A/c	Dr.		10,000
	To Creditors A/c				10,000
	To Bank Loan A/c				28,000
	To Capital A/c				2,97,000
	(Balances brought forward from last year)
1	Purchases A/c (30,000-1,500)	Dr.		28,500
	To Cash A/c				28,500
	(Goods purchased@5% trade discount )
3	Meena	Dr.		25,000
	To Sales A/c				25,000
	( Goods sold to Meena on credit)
7	Purchases A/c	Dr.		12,000
	To Seema				12,000
	(Goods purchased from Seema on credit)
9	Advertisement A/c	Dr.		1,100
	To Purchases A/c				1,100
	(Goods distributed as Free Samples)
12	Cash A/c	Dr.		1,500
	To Bad Debts Recovered A/c				1,500
	(Bad debts recovered)
14	Purchases A/c [30,000 – 3,000]	Dr.		27,000
	To Cash A/c [9,000 – 450]				8,550
	To Bhushan $\left(27,000\times \frac{2}{3}\right)$				18,000
	To Discount Received A/c (9,000 × 5%)				450
	(Goods purchased from Bhushan for Rs 30,000 at trade discount of 10% and paid 1/3 amount in Cash after getting 5% cash discount)
20	Cash in Hand A/c	Dr.		10,000
	To Capital A/c				10,000
	(Gift received from father in law)
	Investment in Shares of Infosis Co.	Dr.		10,000
	To Cash A/c				10,000
	(Amount invested in in shares of Infosis Co.)
24	Bank Loan A/c	Dr.		4,500
	Interest A/c	Dr.		1,500
	To Cash A/c				6,000
	(Paid Bank Loan along with interest on such loan)
28	Bank A/c [22,500 - 1,125]	Dr.		21,375
	Anil [45,000/2]	Dr.		22,500
	Discount Allowed A/c [22,500 – 5% of 22,500]	Dr.		1,125
	To Sales A/c [50,000 – 10% Discount]				45,000
	(Goods sold to Anil at trade discount of 10% and received half amount in cash at 5% cash discount)
29	Advertisement A/c	Dr.		5,000
	To Cash A/c				5,000
	(Paid for Advertisement)
30	Drawings A/c	Dr.		2,000
	To Bank A/c				2,000
	(Amount withdrawn from bank for personal use)