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 ₹400 withdrawn from bank for personal expenses and ₹800 for office expense.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 To Bank A/c (Being half amount withdrawn for personal use and half for office expenses from bank)	400 800	1,200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

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