Journalise the following entries:
(i) Goods costing Rs. 500 given as charity.
(ii) Sold goods to Mayank of Rs. 1,00,000, payable `25%` by cheque at the time of sale and balance after 30 days of sale.
(iii) Received Rs. 975 from Harikrishna in full settliment of his account of Rs. 1,000.
(iv) Received a first and final dividend of 60 paise in a rupee from the Official Receiver of Rajan, who owed us Rs. 1,000.
(v) Charge interest on Drawings Rs. 1,500.
(vi) Sold goods costing Rs. 40,000 to Anil for cash at a profit of `25%` on cost less `20%` trade discount and paid cartage Rs. 100, which is not to be charged from customer.

Journalise the following transactions in the books of Ashok: (i) Received Rs. 11,700 from Hari Krishan in full settlement of his account for Rs. 12,000. (ii) Received Rs. 11,700 from Shyam on his account for Rs. 12,000. (iii) Received a first and final dividend of 70 paise in the rupee from the official receiver of Rajagopal who owed us Rs. 7,000. (iv) Paid Rs. 2,880 to A.K. Madal in full settlement of his account for Rs. 3,000. (v) Paid Rs. 2,880 to S.K. Gupta on his account for Rs. 3,000.

Prepare the Accounting Equation on the basis of the following : (a) Started business with cash Rs. 1,40,000 and Stock Rs. 2,50,000. (b) Sold goods (costing Rs. 50,000) at a profit of 25% on cost. (c ) Deposited into bank account Rs. 1,80,000. (d) Purchased goods from Mohan Rs. 80,000.

Prepare Accounting Equation from the following : (a) Started business with Cash Rs. 2,00,000. (b) Purchased goods for Cash Rs. 60,000 and on Credit Rs. 1,50,000. (c ) Sold goods for Cash costing Rs. 40,000 at a profit of 20% and on Credit costing Rs. 72,000 at a profit of 25%. (d) Paid for Rent Rs. 5,000.

Record the following transactions in Journal in the books of Shyam & Co., Delhi: (i) Received cash from Ram of Delhi for a bad debt written off last year Rs. 10,000. (ii) Paid in cash Rs. 9,800 to Sohan of Delhi on his account for Rs. 10,000 in settlement. (iii) Received Rs. 9,750 from Hari in full settlement of his account for Rs. 10,000. (iv) Bought goods at the list price of Rs. 25,000 from Mohan, Meerut (UP) less 20% trade discount and 2% cash discount and paid 40% by cheque. (v) Sold goods to Rakesh of Delhi at the list price of Rs. 50,000,less 20% trade discount of 2% cash discount and paid 50% by cheque. (vi) Sold goods to James of Kolkata for Rs. 10,000, allowing him a trade discount of 5% and a cash discount of 10% . CGST and SGST is levied @ 9% each on intra-state purchase and sale of goods. IGST is levied @ 18% on inter-state purchase and sale of goods.

Journalise the following transactions: (i) Rs. 5,000 due from Ramesh are irrecoverable. (ii) Sohan is declared insolvent. Received from his Official Receiver 60 paise in a rupee on a debt of Rs. 10,000. (iii) Received cash for a bad debt written of last year Rs. 700.

Journalise the following transactions in the books of Bhushan Agencies: (i) Received from Bharat cash Rs. 20,000, allowed him discount of Rs. 500. (ii) Received from Vikas Rs. 35,000 by cheque, allowed him discount of Rs. 750. (iii) Received from Amrit Rs. 38,000 in settlement of him dues of Rs. 40,000 in cash. (iv) Received from Amrit Rs. 50,000 by cheque on account against dues of Rs 60,000. (v) Paid cash Rs. 40,000 to Suresh, availed discount of 2% . (vi) Paid by cheque Rs. 25,000 to Mehar and settled her dues of Rs. 26,000. (vii) Paid Rs. 25,000 to Yogesh by cheque on account. (viii) Purchased goods costing Rs. 1,00,000 against cheque and availed discount of 3% . (ix) Purchased goods costing Rs. 60,000 from Akash & Co., paid 50% immediately availing 3% discount. (x) Sold goods of Rs. 30,000 against cheque allowing 2% discount. (xi) Sold goods of Rs. 60,000 to Vimal received 50% of due amount allowing 2% discount.

Prepare 'Accounting Equation' from the following : (a) Started business with cash Rs.1,00,000. (b) Purchased goods for cash Rs.20,000 and on credit Rs.30,000. (c ) Sold goods for cash costing Rs. 10,000 and on credit costing Rs. 15,000 both at a prodit of 20%.

Pass Journal entries in the books of Puneet, Delhi for the following: (i) Received an order from Karan & Co. for supply of goods of Rs. 50,000. (ii) Received an order from AK & Co. for goods of Rs. 1,00,000 along with a cheque for Rs. 25,000 as advance. (iii) Paid to staff Rs. 40,000 against outstanding salary of Rs. 60,000. (iv) Sold goods to Bharat, Kaithal (Haryana) of Rs. 10,000 plus IGST @ 12% out of which 1/5th were returened being defective. (v) Chaque of Rs. 20,000 issued by Feroz was dishonoured. (vi) Received 40 paise in a reupee form Feroz against the above dues. (vii) Received a cheque of Rs. 25,000 from Mohan after banking hours. (viii) Purchased goods form Barun of Chandigarh of Rs. 10,000 plus IGST @ 12% and sold them to Arun of Shimla (HP) at Rs. 22,400, including IGST @ 12% . (ix) Arun returned goods of Rs. 6,720, including IGST which were returned to Barun. (x) ABC & Co. purchased 10TV sets @ Rs. 20,000 per set and paid IGST @ 12% It sold all the sets @ Rs. 25,000 per set plus CGST and SGST @ 6% each. (xi) Paid insurance of Rs. 12,000 plus CGST and SGST @ 6% each for a period of one year. (xii) Sold personal car for Rs. 1,00,000 and invested the amount in the firm. (xiii) Goods costing Rs. 1,00,000 were destroyed in fire. Insurance company admitted the claim for Rs. 75,000. These goods were purchased within Delhi. (xiv) Purchased machinery for Rs. 56,000 including IGST of Rs. 6,000 and paid cartage thereon Rs. 5,000 and installation charges Rs. 10,000. (xv) Goods costing Rs. 40,000 sold to Mr. X at a profit of 20% on sales less 10% Trade Discount plus CGST and SGST @ 6% each and received a cheque under 2% cash discount. (xvi) Purchased machinery from New Machinery House for Rs. 50,000 and paid it by means of a bank draft purchased from bank. Paid bank charges Rs. 500.