Practice Questions on Recording of Transactions | Class 11 Accountancy

Try these questions on Journal Class 11 Accountancy

1. On which side (debit or credit), increase in the following is recorded:

2. On which side (debit or credit), decrease in the following is recorded:

3. Which account will be debited in each of the following transactions?

a. Capital invested in the business.

b. Goods sold for cash.

c. Goods returned by debtors.

d. Goods returned to creditors.

e. Machinery purchased on credit.

f. Salary paid.

g. Collection from debtors

4. Which account will be credited in each of the following transactions?

a. Goods withdrawn from the business for personal use.

b. Rent paid.

c. Goods purchased on credit.

d. Depreciation on plant.

5. Pass the necessary journal entries for the following transactions:

a. Providing services on credit Rs 35,000.

b. Rajesh who owed Rs 2,000 to the business has become insolvent. He could pay only 25 paise in a rupee after selling his properties.

c. Received Rs 1200 of bad debts written off last year.

6. Pass the necessary journal entries for the following transactions:

a. Deposited cash into bank.

b. Withdrawn from the bank for office use.

c. Withdrawn from the bank for personal use.

d. Bank charges.

e. Paid rent by cheque.

7. Pass the necessary journal entries for the following transactions:

a. Goods given as charity Rs 1500.

b. Goods given as free samples Rs 600.

c. Goods destroyed by fire Rs 1,100.

d. Withdrawn goods for personal use. Rs 300.

8. Pass the necessary journal entries for the following transactions:

a. Prepaid insurance Rs 600.

b. Outstanding rent Rs 500.

c. Commission received in advance Rs 700.

d. Accrued income Rs 800.

9. Pass the necessary journal entries for the following transactions:

a. Interest on Capital @ 8% p.a. Amount of capital is Rs 200,000.

b. Interest on Drawings amounted to Rs 750.