Commerce Exam > Commerce Notes > Books of Original Entry- Journal (Part - 1)
Books of Original Entry- Journal (Part - 1) - Commerce PDF Download
Page No 9.59:
Ques 1: Enter the following transactions in the Journal of Manohar Lal & Sons.:
Ans:
Ques 2: Enter the following transactions in the Journal of M/s Tripathi Bros.:-
Ans:
Ques 3: Enter the following transactions in the Journal of Sahil Bros.:
Ans: 
Page No 9.60:
Ques 4: Enter the following transactions in the Journal of Ganesh Bros.:-
Ans:
Ques 5: Pass Journal entries in the books of Hari Shankar & Co. from the following:
Ans:
Ques 6: Enter the following transaction in the Journal of Marutinandan Stores:
Ans:
Page No 9.61:
Ques 7: Pass Journal Entries for the following transactions:
Ans: 
Ques 8: Give Journal Entries for the following transactions in the books of Raja Ram & Co.:
Ans: 
Ques 9: Journalise the following transactions:
Ans: 
Working Notes:
1. Amount of goods sold would be Rs 68,000 (80,000 - 15% of 80,000) and cash discount would be Rs 2,040, it would be calculated on amount received Rs 51,000 i.e., 75% of Rs 68,000.
2. Amount of goods purchased would be Rs 54,000 (60,000 - 10% of 60,000) and cash discount would be Rs 1,620, it would be calculated on amount paid Rs 32,400 i.e., 60% of Rs 54,000
Ques 10: Pass journal entries for the following:
Ans: 
Question 11:
Journalise the following transactions in the books of Dixit & Sons. :
ANSWER:
Note: There is a misprint in the book, the amount of cash discount for the entry dated Mar 26 should be 3,150 (not 2,150).
FAQs on Books of Original Entry- Journal (Part - 1) - Commerce
| 1. What is a journal in accounting? |  |
Ans. A journal is a book of original entry in accounting that records financial transactions in chronological order. It is also known as a book of prime entry, where transactions are first recorded before being transferred to the ledger accounts. The journal provides a detailed record of all financial activities of a business, including the date, account name, and amount debited or credited.
| 2. What are the types of journals in accounting? | |
Ans. There are several types of journals in accounting, including the sales journal, purchases journal, cash receipts journal, cash disbursements journal, and general journal. The sales journal records all credit sales, the purchases journal records all credit purchases, the cash receipts journal records all cash received, the cash disbursements journal records all cash payments, and the general journal records all other transactions that do not fit into the other journals.
| 3. What is the purpose of a journal in accounting? | |
Ans. The purpose of a journal in accounting is to provide a chronological record of all financial transactions that occur in a business. It helps in the preparation of financial statements, such as the balance sheet, income statement, and cash flow statement, as well as in the analysis of financial performance. The journal also helps in detecting errors and frauds in the accounting system.
| 4. How is a journal entry recorded? | |
Ans. A journal entry is recorded by debiting one account and crediting another account. The account to be debited is listed first, followed by the account to be credited. The debit and credit amounts must be equal, ensuring that the accounting equation remains balanced. The journal entry should also include a brief description of the transaction.
| 5. What is the difference between a journal and a ledger in accounting? | |
Ans. A journal is a book of original entry that records financial transactions in chronological order, while a ledger is a book of final entry that summarizes all financial transactions by account. The journal is used to record transactions for the first time, while the ledger is used to maintain balances of accounts. The journal provides a detailed record of transactions, while the ledger provides a summary of the transactions by account.
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