2014 May 1 Balance of cash …

2014 May 1 Balance of cash in hand Rs. 15,600; Overdraft at bank Rs. 7,400 2 Further capital introduced Rs. 30,000, out of which Rs. 25,000 deposit into bank. 3 Purchased goods on credit from Mohan of the list price of Rs. 15,000. Out of this amount he allowed us a trade discount of 20% 6 Settled the account of Mohan by paying cash Rs. 11,600 8 An amount of Rs. 2,500 due from chaturvedi & Sons written off as bad the previous year, now recovered. 10 Cashed a cheque for Rs. 7,500, 14 debts in Drew from bank for household expenses Rs. 3,000 and for income tax Rs. 800 Received Rs. 500 from sale of old chairs. 15 20 Received from X on behalf of Y Rs. 2,200. Discount allowed Rs 100 22 Received a cheque from Naresh RS. 4,210 in full settlement of his account of Rs. 4,400, 25 Cheque received from Naresh sent to bank 26 Sagar Chand, who owed us Rs. 10,000 became bankrupt and paid us 40 paisa in a rupe. 28 Received repayment of a loan of Rs. 3,600 and deposited out of it Rs. 2,000 into the bank Cheque received from Naresh dishonored, bank debited Rs. 20 as bank charges. Interest debited by bank Rs. 650. Deposited with the bank the entire amount after retaining Rs. 5,000 at office.

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.​

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

Chapter 3 question number 21

Features of accounting ?

Paid cash to kamlesh rs 15000

Accounting equation practical problem so Accounts

Goods of the selling price of 3000 are further withdrawn by Sonia for personal use 20% of cost is added to fix up the selling price

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

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

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.