Journalise the following transaction and post …

Journalise the following transaction and post them into Ledger account and balance the account also prepare the trial balance Date Jan 1 commenced business with cash ₹2L Jan 2 open bank account rupees 100000 Jan 3 purchase furniture rupees 20000 Jan 4 purchase goods from Mahesh Rs 10000 Jan 4 Purchased goods for cash ₹20000 Jan 5 returned goods to Mahesh rupees 10000 Jan 6 Sold goods for cash ₹ 9000 Jan 7 sold goods to Dinesh Rs 10000 Jan 8 pay to Mahesh by cheque ₹1000 Jan 10 received cash from Dinesh Rs 10000 Jan 15 purchase goods from Manohar rupees 10000 Jan 20 Drew cash for personal use rupees 20000 jan 22 Drew from bank for office use rupees 5000 Jan 25Commission received Rs 2000 Jan 26insurance preprime paid by cheque rupees 3000 Jan 30 rent paid by cheque rupees 5000 Jan 31 salary paid to manager rupees 10000 Jan 31 Wages paid rupees 20000

Mohan is admitted as a partner for 1/5th share on the following terms: (a) He is to contribute 14,000 as his share of capital which includes his share of premium for goodwill. (b) Goodwill is valued at 2 years' purchase of the average profits of the last 4 years, which were 10,000; 9,000; 8,000 and 13,000 respectively. (c) Plant to be written down to 25,000 and patents written up by * 8,000. Prepare the Revaluation Account, Partners' Capital Account and the Balance Sheet of the new firm.

What is bad depts and how we can show in journal and ledger

Chapter 3 question number 21

Illustration 62. Given below is the Balance Sheet of Krishna & Suresh who are partners in a firm sharing profits in the ratio of 3 : 2: Liabilities Amount Creditors Bank Overdraft Investment Fluctuation Fund Contingency Reserve Capital A/c : Krishna Suresh 30,000 20,000 21,000 2,000 6,000 5,000 50,000 84,000 Assets Plant Patents Furniture Investments (Market value Stock Debtors Cash 14,000) Amount (₹) 30,000 5,000 3,000 15,000 13,000 17,000 1,000 84,000 Mohan is admitted as a partner for 1/5th share on the following terms: (a) He is to contribute 14,000 as his share of capital which includes his share of premium for goodwill. (b) Goodwill is valued at 2 years' purchase of the average profits of the last 4 years, which were 10,000; 9,000; 8,000 and 13,000 respectively. (c) Plant to be written down to 25,000 and patents written up by * 8,000. Prepare the Revaluation Account, Partners' Capital Account and the Balance Sheet of the new firm.​

Features of accounting ?

Paid cash to kamlesh rs 15000

Goods of the selling price of 3000 are further withdrawn by Sonia for personal use 20% of cost is added to fix up the selling price

Started business with cash RS 90000 stock 30,000 Purchase परचेज फर्नीचर परचेज फर्नीचर फॉर कैश फॉर कैश 15000 में चेक पैड कैरिंग चार्ज रुपीस 1000 इन कैश सोल 1 की 2 का अबोव स्टॉक तो राम ऑन क्रेडिट रिसीव फ्रॉम राम आफ्टर ए डिस्काउंट का 200 रेंट पैड रुपीस 7000 आउट ऑफ़ व्हिच 2000 इस प्रिपेयर्ड

Accounting equation practical problem so Accounts

Show the Accounting equation for the following transaction (i)Gopinath started business with cash