Record the following transactions in the …

Record the following transactions in the journal 1. Bought a horse for delivering goods to customers ₹ 18000. 2. Sold goods to suresh on credit ₹ 100000. 3. Received cheque for ₹ 98000 from suresh in full settlement of account which was banked on same day. 4. An old machine of book value ₹50000 is exchanged for a new machine costing ₹ 120000. The old machine is valued for ₹ 40000 by HMT Ltd. 5. Cheque received from suresh was dishonoured due to his insolvency. 6. The official receiver from suresh paid 60 paisa in a rupee by cheque which was honoured. 7. Depreciation machinery by ₹ 8000. 8. Salary due to clerk ₹ 2000. 9. Uneared commission (commission received in advance) ₹ 1000. 10. Received V.P.P. from Gopal for ₹ 100 to peon who paid conveyance charge to collect it.

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.​

Paid cash to kamlesh rs 15000

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

Goods of the selling price of 3000 are further withdrawn by Sonia for personal use 20% of cost is added to fix up the selling price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

Features of accounting ?

Chapter 3 question number 21

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

Accounting equation practical problem so Accounts