The Best Teacher

1. Analyse and record the Journal entries in the books of   Tania.
2008                                                                                     Amount
August 1 Tania started business with cash..........Rs. 50,000
   ,,    2 Brought furniture for.................................Rs.   4,000
     ,,    3 Purchased goods..................................... Rs. 10,000
         ,,    7 Purchased goods from Sarah Trade
                   Links .............................................................Rs. 20,000
         ,, 14 Sold good on credit to Manohar ............Rs. 15,000
         ,, 15 Sold goods ..................................................Rs. 10,000
         ,, 16 Received from Manohar on account ....Rs. 5,000
         ,, 20 Paid to Sarah Trade Links........................Rs. 10,000
         ,, 25 Paid rent to landlord ..................................Rs.      500
         ,, 30 Paid salary to manager .............................Rs.   1,500
                                                                           Answer

3.Journalise the following transaction in the books of Donald Biju:
2009                                                                     Amount
Janu 1 Started business with cash.................Rs. 80,000
    ,,   2 Open an account with Canara Bank...Rs. 25,000
    ,,   4 Purchased from Quilon Trade Links..Rs. 25,000
    ,,   5 Brought Furniture...............................Rs. 10,000
    ,, 10 Sold goods to Jomy............................Rs. 20,000
    ,, 11 Jomy returned due to defective......... Rs.   2,000
    ,, 15 Paid in to bank...................................Rs.    5,000
    ,, 20 Received cheque from Jomy............. Rs. 18,000
    ,, 21 Jomy's cheque paid in to bank.......... Rs. 18,000
    ,, 30 Withdrew from bank.......................... Rs.   7,000
                                                                          Answer

2. From the following transaction you are required to record the journal entries:
2008                                                                                      Amount
June 1 Sarah commenced business with cash ...Rs.75,000
      ,, 2 Purchased Machinery................................... Rs.25,000
      ,, 5 Brought goods from Cochin Traders....... Rs.15,000
      ,, 7 Cash purchases ..............................................Rs.12,000
      ,, 8 Returned goods to Cochin Traders............Rs. 1,500
      ,,10 Cash sales.........................................................Rs.30,000
      ,,11 Sold good to John Satheesh........................Rs.15,000
      ,,12 John Satheesh returned goods to us ........Rs. 2,000
      ,,18 Received commission ................................... Rs. 1,200
      ,,25 Withdrew for personal use.............................Rs. 5,000
                                                                          Answer

4. Journalise the following transaction in the books of Krishna Kumar:
2009                                                                     Amount
April 1 Commenced business with cash..............Rs.1,50,000
     ,, 2 Open a bank account...................................Rs.   15,000
     ,, 3 Brought goods................................................Rs. 50,000