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Sampurna 2.0 June 2024

Accounting DPP 1
Accounts - Basics

Q1 According to double entry system, every (c) Paid 5,000 as life insurance premium
business transaction affects minimum_______:- (d) Goods uninsured of 3,000 (purchase cost)
(A) Two accounts were destroyed by
(B) One account (e) Insurance premium paid for insuring the
(C) Two sides of same account goods Rs. 2,500
(D) Two accounts on different dates (f) Goods costing 500 given as charity (Sales
Price 600 ).
Q2 Purchase of goods from Rohan will be Credited
(g) Sold household furniture for 5,000 . The
to:-
proceeds were invested into business
(A) Rohan A/c (B) Purchases A/c
(C) Cash A/c (D) Goods A/c Q7 Journalise the following transactions in the
books of Suman:
Q3 Salary paid to the employee will be debited to:-
(i) Purchased building and issued cheque
(A) Bank Account
Rs.14,00,000
(B) Employee Account
(ii) Purchased machinery from Khemchand,
(C) Salary Account
Mathura on credit for Rs.2,50,000
(D) None of the above
(iii) Bought furniture from Raj Traders, Delhi for
Q4 According to golden rules of accounting, Debit cash Rs.10,000
the receiver, credit the:- (iv) Bought computers from Narayan Pvt ltd.,
(A) Seller (B) Giver Delhi for Rs.50,000 and amount paid by
(C) Buyer (D) Payer internet transfer
(v) Paid in cash for installation of machinery Rs.
Q5 Pass the necessary Journal entries in the books 2,500
of Rajat & Co. (vi) Bricks, cement, etc., for Rs.1,50,000 and
(a) Paid Electricity bill of Rs. 2500 via cheque. Timber for Rs.2,00,000 purchased for the
(b) Deposited Cash Rs 5000 into the bank renovation of building. Payment was made by
account. cheque.
(c) Rajat withdrew cash of Rs 1000 for personal
use. Q8 Journalise the following transactions in the
(d) Goods sold for Rs 50000 for cash. books of Rahul :
(e) Paid Salary Rs 10000 to the employee via 2023 Particulars Amount
cheque.
Rahul started business
(f) Rajat introduced his motor vehicle for April 01 1,00,000
with cash -
business use valuing Rs 22000
(g) Goods returned to Shyam for Rs 15000 April 02 Deposited in bank - 70,000

Q6 Journalise the following: April 03 Bought goods for cash - 5,000

(a) Cash withdrawn by the proprietor for
Drew cash from bank for
personal use 2,000 . April 04 1,000
office -
(b) Goods purchased for 5,000 were taken by
the proprietor for personal April 13 Sold goods to Prince - 1,500

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1. Goods taken by an employee (cost Rs2500

Bought goods from Ayush
April 20 2250 Sales Price Rs. 3000) on the occasion of
-
deepawali and the same was deducted
April 24 Received from Prince - 1,500 from the salary of the employee in the same
month.
April 28 Paid Cash to Ayush - 2150
2. Income Tax paid Rs. 45000.
Discount allowed By him - 100 3. Goods costing Rs 2000 were given as
charity.
April 30 Cash sales for - 8,000
4. Purchased goods from Ramesh 20000
April 30 Paid rent - 500 Trade discount 10% given. Cash discount
given for quick payment Rs.3000.
April 30 Paid Salary to Madan 3,000
Q12 Classify the following items into
Q9 Classify the following accounts into Personal , Real/Personal/Nominal accounts.
Real or Nominal Accounts :-
1. Capital ; 2.Drawings ; 3.Cash paid ; 4.Cash 1. Outstanding Rent
Received ; 5.Commission paid ; 6.Commission 2. Drawings
Received ; 7.Purchases A/c ; 8.Sales A/c ; 3. Closing Stock
9.Furmiture ; 10. Cash A/c ; 11.Bank A/c ; 12. Bank 4. Trade Receivables
overdraft A/c ; 13.Debtors A/c ; 14.Creditors A/c 5. Bad-debts
; 15.Travelling Expenses A/c ; 16.Goodwill ; 6. Depreciation
17.Patents ; 18.Salary A/c ; 19.Salary Outstanding 7. Bank Deposits
A/c ; 20.Insurance A/c ; 21. Insurance Prepaid 8. Income Tax Payable
A/c ; 22.Bad Debts written off ; 23. Bad Debts
recovered Q13 Pass the following journal entries in the books
of accounts:-
Q10 Pass the necessary Journal entries in the books
1. Kartik purchases Mohit’s business at
of Krishan.
following values-
1. Cheque received from Sunita amounting Rs.
Cash Rs.10000 Furniture Rs.25000, Stock
9500 in full settlement of his account Rs.
Rs.5000, Creditors Rs.2000 , Debtors Rs.7000.
10000

2. Krishan withdraws goods for personal use 2. Goods given as free sample Rs.8000
(Cost price Rs. 4500 , sales price Rs. 6000 ) 3. Vikram became insolvent and only 50 paise
and cash Rs 2000 . recovered from his estate. Rs 7000 was due
3. Goods costing Rs 1000 were distributed as to him.
free samples.
4. Received commission Rs 15000 half of Q14 Pass the following closing journal entries in the
which is received in advance, this is related books of accounts of Maheshwari for the year
to the upcoming year. ending 31 March 2022 :-
5. Purchased a used machinery from Kartik (on 1. An employee’s salary for the month of
credit) for Rs 20000 , own goods (cost Rs march Rs. 21000 has not been paid.
5000 sales price Rs 7000 ) were used in the 2. Maheshwari paid Rs. 20000 on 30
repairs of the said machinery. (important) september for the insurance which is valid
up to 30 sept 2023
Q11 Pass the necessary Journal entries in the books 3. Interest earned but not yet received till the
of Krishan. end of the year Rs. 4000 .

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Q15 Following are the transactions entered into by 4. Salaries paid for the month of March, 2022,
Karan after he started his business. Show how Rs.300 and Rs.100 is still payable for the
various accounts will be affected by these month of March, 2022.
transactions: 5. Furniture purchased Rs.500

Required
2022 (Rs. in What conclusions one can draw from the
April 000) above analysis?
1. Karan started business with 5,000
2. He purchased furniture for 1,200 Q18 Journalise the following transactions. Also
state the nature of each account involved in
3. Paid salary to his clerk 1,100
the Journal entry.
4. Paid rent 1,150
Following figures are given in (‘00)
5. Received interest 2,000
1. December 1, 2022, Aman started business
Q16 Mr. Vikas has provided following details with capital Rs.4,00,000
related to his financials. Find out the missing 2. December 3, he withdrew cash for business
figures: from the Bank Rs.2,000.
3. December 5, he purchased goods by
Particulars (` in’000) making payment through bank Rs.15,000.
Profits earned during the 4. December 8, he sold goods for Rs.16,000
5,000 and received payment through
year
Assets at the beginning of 5. December 10, he purchased furniture and
A paid by cheque Rs.2,500.
year
6. December 12, he sold goods to Keshav
Liabilities at the beginning of
12,000 Rs.2,400.
year
7. December 14, he purchased goods from
Assets at the end of the year B
Shyam Rs.10,000.
Liabilities at the end of the
C 8. December 15, he returned goods to Shyam
year
Rs.500
Closing capital 35,000 9. December 16, he received from Keshav
Total liabilities including Rs.2,300 in full
capital at the end of the 50,000 10. December 18, he withdrew goods for
year personal use Rs.1,000.
11. December 20, he withdrew cash from
Q17 Analyse transactions of M/s Gaurav & Co. for
business for personal use Rs.2,000.
the month of March, 2022 on the basis of
12. December 24, he paid telephone charges
double entry system by adopting the following
Rs.110
approaches:
13. December 26, amount paid to Shyam in full
Accounting Equation
settlement Rs.9,450.
Traditional
14. December 31, paid for stationery Rs.200,
Transactions for the month of March, 2022
rent Rs.5,000 and salaries to staff Rs.2,000
were as follows (figures are in ‘000):
from bank .
1. Gaurav introduced capital through bank of 15. December 31, goods distributed by way of
Rs.4,000. free samples Rs.2,000
2. Cash withdrawn from the City Bank Rs.200
3. Loan of Rs.500 taken from Kartik . Q19 Journalise the following transactions in the
books of Mr.Love :

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Purchased goods from Arushi for Rs.50,000

plus CGST and SGST @ 9%
Purchased goods from Siddharth for
Rs.40,000 at a trade discount of 10% plus
CGST and SGST @ 9% Rs.20,000 was paid
immediately and balance payable after 3
months.
Goods costing Rs.20,000 withdrawn for
personal use . Such goods were purchased
by paying CGST and SGST @ 9% each.
Paid rent to Preeti for Rs.20,000 plus CGST
and SGST @ 6%
Goods costing Rs.5,000 (before trade Q21 Journalise the following transactions in the
discount of 10% ) returned to Siddharth. books of Chandni:
Such goods were purchased by paying Received Rs.19,000 from Gaurav on his
CGST and SGST @ 9% each. account for Rs.20,000 .
Purchased furniture for Rs.44,800 including Received Rs.19,000 from Yashmit in
IGST @ 12%. settlement of his account for Rs.20,000 .
Purchased machinery from Raghav for Paid Rs.9,000 to Raghav on his account for
Rs.1,40,000 plus CGST and SGST @ 9% Paid Rs.10,000 .
Rs.1,00,000 immediately and balance to be Paid Rs.9,000 to Lalit in settlement of his
paid after two months. account for Rs.10,000 .
Goods costing Rs.3,000 distributed as
Q20 Pass Journal entries for the following
sample (Sales Price Rs.4,000).
transactions of Shubham :
Paid Income Tax Rs.20,000 by cheque .
Paid Life Insurance Premium Rs.5,000 by
cheque .
Goods destroyed by fire (Sales Price
Rs.5,000, Cost Rs.4,000)

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Answer Key
Q1 (A)
Loss of Stock by Fire
Q2 (A)
A/c Dr.
Q3 (C) (iv) To Purchases A/c 3,000
3,000
Q4 (B) (Goods destroyed by
fire)
Q5

Insurance Expenses
A/c Dr.
To Bank A/c
(v) 2,500
(Insurance premium 2,500
paid for insuring the
goods )

Charity/Donation
A/c Dr.
(vi) To Purchases A/c 500
500
( Goods given as
charity )

Cash A/C Dr.

Q6 Journal To Capital A/C
Entries (Sale of household
Date Particulars L.F. Dr. Cr. furniture and the
proceeds invested in
Drawings A/c the business)
Dr. Explanation: Sold
2,000 furniture is not an
(i) To Cash A/c 5,000
2,000 asset of the 5,000
(Cash withdrawn for
personal use) business
(vii) but is a personal
asset of the
Drawings A/c proprietor.
Dr. Hence, Furniture Ac-
(ii) To Purchases A/C 5,000 count is not credited
5,000
(Goods used for on sale.
personal purpose) Cash realised on sale
is invested in
business.
Drawings A/c
Hence, Capital
Dr.
Account is credited.
(iii) To Cash A/c 5,000
5,000
(Life insurance Q7 In the Books of Suman
premium paid) Journal Entries
Date Particulars L.F. Dr. Cr.

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Building A/c purchased

Dr. for the
To Bank renovation of
A/c 14,00,000 building)
(i) 14,00,000
(Building
Q8 In the books of Rahul
purchased
Journal
and cheque
Entries
issued)
Date Particulars L.F. Dr. Cr.
Machinery
Cash A/c
A/c Dr.
Dr.
To
To Capital
Khemchand ,
2,50,000 A/c 1,00,000
(ii) Mathura A/C 2,50,000 1,00,000
April1 (Cash
(Machinery
invested by
purchased on
Rahul in the
credit from
business as
Khemchand )
capital)
Furniture A/c
Bank A/c
Dr.
Dr.
To Cash
10,000 To Cash 70,000
(iii) A/c 10,000 April 2 70,000
A/c
(Furniture
(Deposited in
purchased in
the bank)
cash)
Purchases
Computers
A/c Dr.
A/c Dr.
To Cash
To Bank 50,000 5,000
(iv) 50,000 April 3 A/c 5,000
A/c
(Goods
(Computer
purchased
purchased)
for cash)
Machinery
Cash A/c
A/c Dr.
Dr.
To cash
To Bank
A/c 2,500
(v) 2,500 A/c 1,000
(2,500 paid April 4 1,000
(Cash
for
withdrawn
installation of
from the
machinery)
bank)
(vi) Building A/c 3,50,000 3,50,000
Prince
Dr.
Dr.
To Bank
To Sales 1,500
A/c April 13 1,500
A/c
(Bricks,
(Goods sold
cement, etc,
to Prince)
for 1,50,000
April 20 Purchases 2,250 2,250
and timber
A/c Dr.
for 2,00,000
To Ayush

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(Goods 1. Capital 5.Commission

bought from 2.Drawings paid
Ayush). 11.Bank A/c 6.Commission
Cash A/c 12. Bank Received
Dr. overdraft 3.Cash 7.Purchases
To Prince 1,500 A/c paid A/c
April 24 1,500
(Cash 13.Debtors 4.Cash 8.Sales A/c
received A/c Received 15.Travelling
from Prince) 14.Creditors 9.Furmiture Expenses A/c
Ayush A/c 10. Cash 18.Salary A/c
Dr. 19.Salary A/c 20.Insurance
To Cash Outstanding 16.Goodwill A/c
A/c A/c 17.Patents 22.Bad Debts
To 21. written off
Discount 2,250 Insurance 23. Bad Debts
2,150
Received A/c Prepaid recovered
April 28 100
(Note 1) A/c
(Discount * When a prefix or suffix is added to a Nominal
allowed by A/c, it becomes a Personal A/c.
Ayush on
payment Notes: (1) Salary A/c is a nominal account
being made whereas Salary Outstanding is a personal
to him) account
Cash A/c because it is the account of some unnamed
Dr. creditor.
To Sales 8,000 (il) Insurance Alc is a nominal account whereas
April 30 8,000
A/c Insurance Prepaid is a personal
(Goods sold account because it is the account of some
for cash) unnamed debtor.
Rent A/c (ii) Bank A/c is not a real account. It is a
Dr. personal account since it is the account of
Salaries A/c some banking company or firm which is an
500
Dr. artificial person. (iv) Purchases A/c and Sales
3,000
April 30 To Cash 3,500 A/c are nominal accounts.
A/c
Q10 Journal entries will be as follows:-
(Rent and
Salary paid)
(Note 2)
Notes:
Sr
Particulars Debit Credit
1. Discount allowed by others is discount It is a No.
gain thus, it will be credited.
2. A combined or compound entry is passed a) Bank A/c 9500
since rent and salary to Madan have been Dr 500
paid in cash on the same day. Discount allowed A/c 10000
Dr
Q9 Personal Real Nominal b) To Sunita 6500
Accounts Accounts Accounts A/c 4500

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2000 To Discount
Drawings A/c Received A/c
Dr
c) To Purchases 1000 1000
Q12
A/c 1. Personal A/c
To Cash A/c Because it represents the person to whom the
d) amount is to be paid. So it will come under
Advertisement 15000 7500
Expense A/c Dr 2. Personal A/c
7500
To Because it represents the owner’s capital
e) Purchases A/c invested/withdrawn. So it will come under
25000 5000 Personal Account.
Cash A/c 20000 3. Real A/c
Dr
To Commission Closing stock is an asset to the business. So it
A/c will come under the Real account.
To Advance
4. Personal A/c
commission a/c
Trade receivables represent the people to
Machinery A/c whom the amount is due for the goods sold/
Dr services provided. So it will come under the
To Purchases Personal account.
A/c 5. Nominal A/c
To Kartik A/c
Bad-debts are a loss to business. So it will
Q11 Journal entries will be as follows:- come under the Nominal account.

6. Nominal A/c

Sr Depreciation is an expense of the business. So

Particulars Debit Credit
No. it will come under the Nominal account.
a) Salary A/c 2500 7. Personal A/c
Dr
Bank deposits represent the amount kept in the
To Purchases A/c 2500
bank by the business. So it will come under the
b) 45000
Personal account.
Drawings A/c
Dr 45000 8. Personal A/c
c) To Bank A/c 2000 Income tax payable represents the amount
payable to the income tax department. So it
2000 will come under the Personal account.
d) Charity Expenses A/c 18000
Dr Q13 Journal
To Purchases 15000
A/c 3000 Sr
Particulars Debit
No Credit
Purchases A/c a) Cash A/c 10000
Dr Dr 25000
To Bank A/c Furniture A/c 5000
Dr 7000

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Stock A/c 2000

Dr 45000
Debtors A/c
Dr Q16
b) To Creditors A/c 8000
To Bank A/c 8000
(Balancing
c) Figure) 3500
3500
Advertising A/c 7000
Dr
Q17 (A) Analysis of Business Transaction :
To Purchases A/c
Accounting Equation Approach
The accounting equation is
Cash A/c
Assets = Liabilities + Capital
Dr
Bad-debts A/c
Dr
To Vikram A/c

Q14 Date Particulars Debit Credit

Salary A/c
Dr
To Outstanding
21000
Salary A/c
31/3/22
21000

Prepaid Insurance
10000
A/c Dr Analysis of Business Transactions:
31/3/22
To Insurance 10000 Traditional Approach
Premium A/c
4000
31/3/22
Accrued Interest A/c 4000
Dr
To Interest
income A/c

Q15

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the Bank)

Purchases A/c
Dr. Nominal
Dec. To Bank A/c A/c
15,000
5 (Being purchase Personal 15,000
of goods for A/c
cash)

Bank A/c
Conclusion: Personal
Dr.
It is evident from above analysis that Dec. A/c
To Sales A/c 16,000
procedure for analysis of transactions, 8 Nominal 16,000
(Being goods
classification of accounts and rules for A/c
sold for cash)
recording business transactions under
accounting equation approach and traditional Furniture A/c
approach are different. But the accounts Dr. Real
affected and entries entered/passed remains Dec. To Bank A/c A/c
2,500
the same under both approaches. Thus, the 10 (Being purchase Personal 2,500
recording of transactions in affected accounts of furniture, A/c
on the basis of double entry system is paid by cheque)
independent of the method of analysis
Arvind Dr.
followed by a business enterprise. In other
To Sales Personal
words, accounts to be debited and credited to
Dec. A/c A/c
record the dual aspect remains the same 2,400
12 (Being sale of Nominal 2,400
under both the approaches.
goods on A/c
Q18 JOURNAL credit)
(Rs. in ‘00) Purchases
A/c Dr.
Dr. Cr. To Nominal
Dec. Amrit A/c
7. 10,000
Nature 14 (Being Personal 10,000
Debit Credit
Date Particulars of L.F. purchase of A/c
(Rs.) (Rs.) goods from
Account
Amrit)
Bank A/c
Amrit
Dr.
Dr.
To Capital Personal
To
Dec. A/c A/c Personal
4,00,000 Purchases
1 (Being Personal 4,00,000 A/c
8. Dec.15 Returns A/c 500
commencement A/c Nominal 500
(Being
of business with A/c
goods
capital)
returned to
Dec. Cash A/c Real 2,000 Amrit)
3 Dr. A/c 2,000 9. Dec. Bank A/c Personal 2,300
To Bank Personal 16 Dr. A/c 100
A/c A/c Discount Nominal
(Being cash A/c Dr. A/c 2,400
withdrawn from

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To Personal (Being cash Nominal

Arvind A/c paid to Amrit A/c
(Being and he allowed
amount Rs.50 as
received discount)
from Arvind Stationery Exp.
in full Dr. Nominal
settlement Rent A/c A/c
and Dr. Nominal
200
allowed Dec. Salaries A/c A/c
14. 5,000
him Rs.100 31 Dr. Nominal
2,000
as To Bank A/c 7,200
discount) A/c Personal
Drawings (Being A/c
A/c Dr. expenses paid)
To Advertisement
Purchases Exp. A/c Dr.
Personal
A/c To
A/c Nominal
10. Dec.18 (Being 1,000 Purchases A/c
Nominal 1,000 Dec. A/c
withdrawal 15. (Being 2,000
A/c 31 Real
of goods distribution of 2,000
A/c
for goods by way
personal of free
use) samples)
Drawings
A/c Dr.
Q19 In the books of
To Cash
Mr.Love
A/c Personal
(Being cash A/c
11. Dec.20 2,000
withdrawal Real 2,000 Date Particulars L.F. Dr. (`) Cr. (`)
from the A/c
business for Purchases A/c
personal (i) Dr. 50,000
use) Input CGST A/c
Telephone (50,000 x 9%)
Exp. A/c Dr.
Dr. Input SGST A/c 4,500
Nominal (50,000 x 9%)
To
Dec. A/c Dr.
12. Bank A/c 110
24 Personal To
(Being 110
A/c Arushis A/c 4,500
telephone
expenses (Being goods
paid) purchased from
Arushi, CGST and
13. Dec Amrit Dr. Personal 9,500 59,000
SGST paid @ 9%
26 To Bank A/c 9,450
each)
A/c Personal 50
To A/c (ii) Purchases A/c 36,000
Discount A/c (40,000 x 90%)

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Dr. (Being goods returned

Input CGST A/c to Siddharth and input
405
(36,000 x 9%) IGST debited at the
3,240
Dr. time of purchases
Input SGST A/c Furniture
reversed) A/c (WN 1)
(vi) Dr. 40,000
(36,000 x 9%)
Dr. 3,240 Input IGST A/c
To Dr.
4,800
Siddharth’s A/c To Bank A/c
To Bank (Being furniture
A/c 22,480 purchased paid IGST @ 44,800
(Being goods 12%)
purchased from Machinery A/c
Siddharth, CGST (vii) Dr. 1,40,000
20,000
and SGST payable Input CGST A/c
@ 9% each) (1,40,000 x 9%) Dr.
(iii)
Drawings A/c*
23,600 Input SGST A/c 12,600
Dr. (1,40,000 x 9%) Dr.
To Purchase To Bank A/c
20,000 12,600
A/c To Raghav
(Being machinery
To Input CGST
1,800 purchased
A/c (20,000 x 9%) 1,00,000
and paid
To Input SGST
1,800 Rs.1,00,000
A/c (20,000 x 9%)
immediately, CGST 65,200
Rent A/c and SGST @ 9% each)
(iv) Dr. 30,000 * The input tax availed earlier is reversed,
Input CGST A/c because these goods are ‘consumed’ by
(30,000 x 6%) Mr.Love himself. Since he cannot ‘sell’ goods to
Dr. 1,800 himself and charged output tax, the input tax
Input SGST A/c thereon is reversed, since in this case Mr. Love
(30,000 x 6%) himself is the ultimate consumer of those
Dr. 1,800 goods.
To Preeti ** Since goods are returned to the supplier, the
A/c input tax credit availed earlier on those goods
(Being rent paid to 33,600 is to be reversed, since these goods are no
Preeti) longer available to be sold.
Siddharth’s A/c Working Note.
(v) Dr. 5,310 1. Furniture purchased is including IGST @ 12%.
To Purchases
So, value of furniture excluding IGST =
Return A/c **
( 5,000 – 10% trade Rs.44,800 × 100/112 = Rs.40,000.
Discount) 4,500 IGST = Rs.40,000 × 12% = Rs.4,800.
To Input CGST A/c Q20
(4,500 x 9%)
To Input SGST A/c
(4,500 x 9%) 405

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(Cash received for

Yashmit in
settlement and
allowed
discount)
Raghav Dr.
To Cash A/c
(iii) (Cash paid to 9,000
9,000
Raghav on
account)
Lalit Dr.
To Cash A/c
To Discount
Received A/c
(iv) 10,000 9,000
(cash paid to Lalit
1,000
in settlement and
received discount
of Rs.1000)
Sales Promotion
A/c Dr.
To Purchases
(v) 3,000
A/c 3,000
(Goods distributed
as sample)
Drawings A/c
Dr.
(v) 20,000
Q21 Sol. JOURNAL To Bank A/c 20,000
(Income tax paid)
Cash A/c Dr.
To Gaurav Drawings A/c
(i) (Cash received for 19,000 Dr.
19,000 (vi) To Bank A/c 5,000
Gaurav on 5,000
account) (Life Insurance
premium paid)
(ii) Cash A/C 19,000
Dr. 1,000 Loss due to Fire
Discount Allowed 20,000 A/c Dr.
A/C Dr. To Purchase A/c 4,000 4,000
To Yashmit (Goods destroyed
by fire)

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Hints & Solutions

Q1 Text Solution:
Every business transaction affects a minimum of Salary A/c Dr xxxx
two accounts. At least one debit and atleast To Bank A/c xxxx
one credit. So, the salary account will be debited.

Q2 Text Solution: Q4 Text Solution:

If goods are purchased from Rohan (on credit), The golden rule of accounting (for personal
Rohan A/c will be credited. accounts) is :- “Debit the receiver, credit the
Particulars Debit Credit giver”.

Q5 Text Solution:
Purchases A/c Dr XXXX
To Rohan A/c XXXX
Q6 Text Solution:
Q3 Text Solution:
The journal entry for paying salary via bank will
Q7 Text Solution:
be:-

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