ollowing balance appeared in the books …

ollowing balance appeared in the books of Ritvika on 1 ASsets cash in hand January, 2012 14000; Bank Balance 6000; Debtors: Neeraj 4500, Soni Sushil 16000, Stock 11000 25000; Machinery 50000 & Furniture 20000 Liabilities Bills payable 9000, Cieditor: Sita 9000, Devendra Durng 700o January, following transaction took place Jan 1. Cash sales 22800 Jan 2. Purchased from Sita 450 metres cotton@rs. 120 per metire 400 metres silk @ rs. 220 per metre Trade Discount @ 10% Jan4 Bills payable honoured by cheque Jan5. Sold to Neeraj 550 metres silk @ rs. 300 per metre 840 metres cotton @ rs. 200 per metre Trade Discount @ 5% Janb. Acceptance received from Neeraj at one month for rs. 25000 Jan8. Purchased furniture for office use from M/S Rameshwai for rs. 30000 Jan9. Received cash from Neeraj rs.17800 and Discount Allowed rs. Jan10. Gave 2000 cheque to Devendra for rs. 4900 and allowed discount oi rs. 100 Jan 11. Accepted a bill at two months for rs. 8000 drawn by Sita Jan12. Returned to Sita: 5 metres silk and 10 metre cotton Jan13. Sold to Soni 50 metres silk @ rs. 350 per metre 80 imetres cotton rs. 150 per meter Irade Discount @ 5% Jani4. Returmed by Neeraj 20 meters cotton lanl5. Received full payment from Neeraj by clieque, sent to Allowed 2% bank, Discount Jalilo Paid to Sita rs. 990 ànd Discount Received rs. 10 Janl/. Purchased from Devendra: 1 300 meties cot1on (@rS. 60 per meter 1300 meties silk (is. TO0 per ineler Ifade ISCOUn (10 Jan18 Received from Sois. 8K) and idisOunt allowedis Jan19. Cash Purchases 10000 Jan21. Deposited to bank 5000 Jan23. Recieved and banked a ciieque for rs. 3000 from Sushil. Write off the balance as bad debts. Jan27. Paid rent by cheque 5500 Jan29. Withdrawn from bank rs. 2000 for office use. Jan30. Goods taken from personal use 10000 Jan31. Salaries paid rs. 12000, insurance premium paid rs. 6000 YOu are required to:- Enter the above transactions in subsidiary books and post them into Ledger Accounts. Draw Trail Balance Additional Information- (a) Closing stock rs. 50000 (b) Depreciate machinery 10% and furniture@ 10% c) Salary outstanding rs. 9000 (d) Insurance prepaid rs. 1000 Compare financial statements for the year.

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.

Paid cash to kamlesh rs 15000

Chapter 3 question number 21

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

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

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

Features of accounting ?

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

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.​