Transaction of Bank: Write Journal Entry for Krishan for the following transactions:









 2014

March

1. ₹20,000 deposited with bank and opened account.

5. A cheque of ₹5,000 received from Hari, which immediately deposited with bank.

6. A Cheque of ₹2,000 received from Ramanikal for dues.

10. Goods sold to Rupali ₹14,000, out of which cheque received for half amount, which deposited with bank.

12. Goods of ₹10,000 purchased from deepkala and paid half amount by cheque.

15. ₹400 withdrawn from bank for personal expenses and ₹800 for office expense.

18. Life insurance premium ₹300 and fire insurance premium ₹450 paid by cheque.

20. Bank has approved over draft of ₹25,000.

25. Bank has credited interest of ₹250 and debited bank cheque of ₹100.

31. A cheque of ₹5,000 issued for foreign visit of son of owner from business.

Solution :

Journal Entry

In the books of Krishna.


Date 

Particulars 

L/F 

Debit (₹) 

Credit (₹) 

2014, March 

 

 

 

 

1 

Bank A/c                    Dr. 

        To Cash A/c 

(Being amount deposited in Bank and opened an account) 

 

20,000 

 

 

20,000 

5 

Bank A/c                  Dr. 

         To Hari A/c  

(Being cheque received and deposited in Bank) 

 

5,000 

 

 

5,000 

6 

Bank A/c             Dr. 

         To Ramaniklal A/c 

(Being cheque receive from Ramaniklal ) 

 

2,000 

 

2,000 

10 

Bank A/c             Dr. 

Rupali A/c                  Dr. 

             To Sales A/c 

(Being goods sold to Rupali half amount paid in cheque and half in credit) 

 

7,000 

7,000 

 

 

14,000 

12 

Purchase A/c          Dr. 

            To Bank A/c 

            To Deepkala A/c 

(Being goods purchase half amount paid by cheque and half in credit) 

 

10,000 

 

 

5,000 

5,000 




15 

Drawings A/c              Dr. 

Cash A/c                   Dr. 

           To Bank A/c  

(Being half amount withdrawn for personal use and half for office expenses from bank) 

 

400 

800 

 

 

1,200 

18 

Drawings A/c            Dr. 

Fire Insurance A/c     Dr. 

             To Bank A/c 

(Being life insurance and fire insurance premium paid by cheque) 

 

300 

450 

 

 

750 

20 

NO ENTRY  

 

 

 

25 

Bank A/c                Dr. 

             To Bank Interest A/c 

(Being Bank has credited Interest) 

 

250 

 

250 

25 

Bank Charges A/c      Dr. 

           To Bank A/c 

(Being Debited bank charges) 

 

100 

 

100 

31 

Drawings A/c          Dr. 

          To Bank A/c 

(Being cheque issued for personal use) 

 

5,000 

 

5,000 

 

 

 

58,300 

58,300 




Popular posts from this blog

Sun and Moon are Partners in Partnership Firm sharing Profits and Losses equally. You are required to give effects of Adjustments with the help of following information

Trial Balance as on 31st March, 2019   Debit Balance   Amount   Credit Balance   Amount   Land & Building   40,000  Capital A/c Sun  33,500   Moon  33,500  Furniture  18,000  Current A/c: Sun   6,000  Machinery  40,000  Sundry Creditors  25,000  (Purchased on 01/07/18)    Bank Overdraft   10,000  Goodwill  2,000  Reserve Fund  5,000  Wages  2,000  Provident Fund  5,000  Current A/c: Moon  4,000      8% Debentures  8,000      (Purchased on (01/10/18)        Providend Fund Investment  3,500      Stock of Postal stamps  500        1,18,000     1,18,000               Adjustments:   1. Partners are entitled to get salary 6,000 p.a. in additional to their profit & loss sharing.   2. Depreciation on Land & Building, Furniture & Machinery @10%, 5% and 3% respectively.    3. Interest on Capital 5% p.a.     4. Closing stock 60,743   5. Wages included 1,000 as advance given to workers.   6. Interest due but not paid 800.   7. Total Net Profit amounted to 38,113.           Solutio
Read more

CLASS 11th BOOK KEEPING & ACCOUNTANCY

Class 11 Chapter 3 - Journal Entry Solution     Class 11 Chapter 4 - Ledger Accounts   Class 11 Chapter 5 - Subsidiary Book Solution   Class 11 Chapter 6 - Bank Reconciliation Statement     Class 11 Chapter 7 - Depreciation       Class 11 Chapter 8 - Rectification of Errors Solution in Accounting Journal Entry   Class 11 Chapter 9 - Final Account of Proprietary Concern         Maharashtra board Class 11th chapter 3 Journal Entry Solutions
Read more

Class 11th Chapter 4 Ledger Solutions | Class 11 Ledger Practical Problems Solutions

Image
PRACTICAL PROBLEMS   Q.1 Give Journal entries of the following posting from the ledger account.   Q.2 Prepare necessary ledger account from the following Subsidiary Books.   Q.3 From the following Transactions prepare necessary Ledger accounts in the Books of Vinay and balance the same. Q.4 Journalise the following transactions and prepare cash account only. Q.5 Prepare Aparna's account in the books of Suparna.   Q.6. Prepare Cash A/c, Bank A/c, Purchase A/c, sales A/c and Capital A/c, and balance the same in the books of Mandanlal.   Q.7. Journalise the following transactions; post them into Ledger for February 2019.   Q.8 Journalise the following transactions and prepare ledger accounts in the books of Sanjeev.   EXERCISE   Q.6 Complete the following table.     Image by- Edaccountancy   Q.7 Put ✔️ mark for the nature of balance for the following. Image by- Edaccountancy   The practical problems presented above aim to reinforce students' understanding of ledger accounts, subsi
Read more

Student Reviews

Very helpful for getting a solution. Thank you!

I like all your posts. You have done really good work. Thank you for the information you provide; it helped me a lot.

The answers are so perfect and proper 🌝

Nice explanation in full detail is very helpful.

It's very easy to learn.

Privacy Statement: We respect student privacy and do not share any personal information. Reviews are voluntarily provided to showcase genuine appreciation for our content.