On 1st January, 2016 Mr. ARJUN …

On 1st January, 2016 Mr. ARJUN SINGH devided to start a driving school, alle to sell car accessories through same place. For this purpose, be bought a workshop at a cost of 40,00,000 and decided to invest 15,00,000 as a further capital in the proposed business. He employed assistants and training staft for this purpose. He wants to start with 5 second hand cars for hither funds he approached Punjab National Bank and secured a loan of 36 00,000 10% per annum. The fooit was payable in 4 instalments along with interest due Amt (1) Purchased cars 26.00000 Secunty deposited for electricity connection with electricity board 120,000 Security deposited with BSNL for telephone and intemet connection Purchased fumiture 240,000 Fees received from students 19.00,000 660.000 Bought car accessones 960.000 Sale of car accessories 5,40,000 Wages paid 7.50,000 Salanes paid Electricity changes 2.85.000 Advertisement 1.32,000 Postage and call 57,000 General expenses 36,000 Insurance premium 27,600 Bought laptop and printer 1,80,000 He withdrew 72,000 per month as drawings and repaid the annual instalment of bank loan along with interest due to 31st December, 2015. Assume all transactions took place through Punjab National Bank You are required to (1) Journalise these transactions after considering the following information (i) Stationery unpaid 54,000 (1) Depreciate building by 5% and cars and furniture@ 10% per annum (iii)] Advertisement includes unissued material worth 24,000. (iv) Insurance prepaid 9,000 (v) Stock of car accessories 117,000 (2) Post them into ledger and prepare trial balance (3) Prepare financial statements for the year ended 31st December, 2016

Difference between expenses and expenditure

Which method is best

sum

Kuldeep, general merchant, keeps his accounts on that informatio the results of his business on alat March, 2023 and for that following information is ava 1st April, 2022 (1) 1,50,000 31st March, 2023 1,75,000 Cash in Hand 7,50,000 Bank Balance Furniture Stock 6,50,000 Creditors 3,50,000 Debtors 2.50,000 3,00.005 During the your, he had withdrawn ₹5,00,000 for his personal use and as additional capital. Calculate his profits on 31st March, 2023 and Stateme of Affairs as on that date. invested ₹25000円 (Profit - 74 ,75,000)

The following is the trial balance of Zoya steel ltd. As on 31st March 2018

On 1st may 2020 cash book bank overdraft balance was ₹4000 on depositing ₹20,000 into bank and giving a cheque of ₹14,400 for rent the balance will be

Q43. Vikram Ltd. issued 50,000 shares of Rs. 10 each at a premium of Rs. 1 per share payable as follows: Rs. 3 on Application Rs. 4 on Allotment (including premium) Rs. 2 on First Call Balance when required Applications were collected for 46,000 shares and all of these were accepted. Directors did not make final call. A shareholder holding 800 shares did not pay the (Rs.) pending on first call. The shares were forfeited and re-issued at Rs. 7 per share, Rs. 8 per share paid. Pass Cash Book and Journal Entries

Journal entries of Q 18. Ch 3

Define provision

To know the exact reason leading to net profit or net loss