AP Inter 1st Year Accountancy Important Questions Chapter 4 Journal

Students must practice these AP Inter 1st Year Accountancy Important Questions 4th Lesson Journal to boost their exam preparation.

AP Inter 1st Year Accountancy Important Questions 4th Lesson Journal

Very Short Answer Questions

Question 1.
What is Journal?
Answer:
The word ‘Journal, is derived from the Latin word ‘Journ’ which means a day. Therefore journal means a day book where in day-to-day business transactions are recorded in chronological order. This is also known as ‘Book of original entry’ or ‘Book of primary entry’.

Question 2.
What is Journalizing?
Answer:
The process of recording the transaction in the Journal is called “Journalizing”.

Question 3.
What is Journal Entry?
Answer:
The entry made in the Journal is called “Journal entry”.

Question 4.
What is Narration?
Answer:
Narration means a brief explanation of the transaction for which the entry is recorded is written within the brackets known as ‘narration’.

Problems

Question 1.
Mr. Anil started business with cash Rs. 75,000 on 1st January 2014. The details of business transactions for the month of January are as follows.

2014			Rs.
Jan.	02	Cash Sales	10,000
“	05	Purchases for Cash	12,000
“	07	Goods sold for credit to Rahim	20,000
“	08	Cash Sales	20,000
“	09	Wages Paid	5,000
“	10	Deposited into bank	‘ 8,000
“	13	Cash paid to Mahesh	6,000
“	15	Machinery purchased	12,000
“	18	Purchased goods from Anitha	5,000
“	20	Cash received from Mrs. Ramya	3,000
“	22	Paid rent	1,500
“	24	Postage and Stationery	500
“	27	Cash drawn for personal use	7,000
“	30	Received rent	1,200

Answer:
Journal Entries in the books of Mr. Anil

Question 2.
Pass journal entries in the books of Mr. Varun.
2014 — Rs.
April 01 — Commenced business with cash — 1,00,000
” 02 — Sold goods to Amir — 8,000
” 04 — Purchased from Rama — 4,000
” 06 — Purchased computer and paid by cheque — 20,000
” 09 — Varun withdrew cash for his personal expenses — 5,000
” 13 — Furniture purchased — 10,000
” 15 — Returned goods to Rama — 500
” 18 — Amir returned goods — 1,000
” 20 — Advertisement Expenses — 1,000
” 23 — Deposited cash with Syndicate Bank — 3,000
” 25 — Goods withdrawn for personal work — 2,000
” 27 — Cash paid to Ramesh Rs. 3,900 and discount received — 100
” 28 — Cash received from Ramu Rs. 2,800 and discount allowed 200
” 29 — Cash withdrawn from bank for office use — 6,000
” 30 — Salaries paid by cheque — 20,000
Answer:
Journal Entries in the books of Mr. Varun

Question 3.
Journalize the following transactions.

2014 June	01	Started business with cash	Rs. 5,00,000
“	02	Sales	30,000
“	04	Purchases	40,000
“	06	Sold goods to Mahesh	35,000
“	09	Bought goods from Radhika	25,000
“	11	Sold goods to Swathi for cash	10,000
“	15	Mahesh returned goods	5,000
“	18	Commission Received	1,000
“	19	Heating Expenses	500
“	20	Cash paid to Pramod	6,000
“	22	Returned goods to Radhika	2,000
“	25	Goods withdrawn for domestic use	5,000
“	27	Cash received from Anand Rs. 4,000 and discount allowed	50
“	28	Interests received	500
“	29	Cash paid to Raman Rs. 4,900 after receiving a discount of	100
“	30	Commission paid	300

Answer:
Journal Entries

Question 4.
Journalize the following transactions in the books of Bhagat.

2014			Rs.
January	01	Commenced business with cash Rs. 40,000 and furniture worth	10,000
“	02	Sold goods to Suchitra	20,000
“	03	Purchased Machinery	30,000
“	05	Paid rent	5,000
“	09	Paid Electricity bill	1,000
“	12	Sold goods for cash	6,000
“	15	Bought goods on credit from Nikhil	10,000
“	18	Paid wages	5,000
“	21	Interest received through cheque	5,000
“	25	Advertisement Expenses	3,000

Answer:
Journal Entries in the books of Bhagat

Question 5.
Journalize the following transactions.

2014			Rs.
April	01	Dinesh Started Business	50,000
“	02	Cash Sales	10,000
“	04	Purchases	15,000
“	06	Sold Plant and Machinery	5,000
“	10	Cash paid to Rahim	3,000
“	14	Salaries paid	8,000

Answer:
Journal Entries

Question 6.
Journalize the following transactions in the books of Atma Ram.
2014 — Rs.
Jan. 01 — Started business with cash — 25,000
” 03 — Purchased computer — 1,50,000
” 06 — Purchased goods — 6,000
” 07 — Purchased on credit Rs. 5,000 from Mahesh
” 10 — Purchased goods for 5,000 and paid by cheque
” 12 — Sold goods — 10,000
” 14 — Sold goods and received Rs. 10,000 cash and Rs. 5,000 by Cheque.
Answer:
Journal Entries in the books of Atma Ram

Question 7.
Journalize the following transactions.

2014 — Rs.
March 01 — Commenced business with cash Rs. 13,000 and stock 7,000
” 02 — Bought plant — Rs. 5,000
” 03 — Paid for postage — Rs. 500
” 04 — Withdrew cash for office use — Rs. 1000
” 05 — Paid for Sundry Expenses — Rs. 500
” 06 — Paid into bank — Rs. 10,000
” 07 — Paid salaries — Rs. 5,000
Answer:
Journal Entries

Question 8.
Write journal entries in the books of Sudha & Co.

2014 — Rs.
July 01 — Started business with a capital of — Rs. 90,000
” 01 — Purchased goods from Tharun on credit — 20,000
” 02 — Sold goods to Sonu — 30,000
” 03 — Purchased goods from Ragan for cash — 25,000
” 04 — Sold goods to Toni for cash — 16,000
” 05 — Goods returned to Ragan — 5,000
” 06 — Bought furniture for — 15,000
” 18 — Sold goods to Sudip — 12,500
” 19 — Goods returned from Sudip — 2,000
” 25 — Cash received from Sudip — 5,500
” 28 — Goods taken by Sudha & Co for domestic use — 3,000
Answer:
Journal Entries in the books of Sudha & Co