Daksh had an ambition to start …

Daksh had an ambition to start a business.after completing his studies, he surveyed the market for business opportunity. He did a course in the production and marketing of handmade sheets, through which he would be recycling some of the waste material.on 1st April 2013 , he started his business with a capital of rs 500000 and borrowed rs 500000 from his friend at an interest of 8 % per annum. He purchased permises for rs 400000 and installed machinery valued at rs 100000. Loose tools of rs 80000 , furniture and fixtures of rs 150000 and a computer for rs 20000 were also purchased. All the cash was kept in a bank and payments were made through the bank. The following is a summary of transactions : Dye and chemicals rs 10000 total purchases rs 395000cash 205000credit rs 600000 total sales rs750000cash+250000 credit rs 1000000 wages rs 240000 electricity exp rs 18000 water exp rs 12000 cartage on purchases rs 24000 cartage on sales rs 30000 bpermises were insured on 1st OctoberOctober 2013, on a yearly premium of rs 24000.int on loan was paid by cheque and a part of loan of rs 100000 was paid at the year end. On 31st March 2014; 1 closing stock valued at rs 248000 2 wages of rs 20000 were still outstanding. 3 depriciation was to be provided @ 10 % per annum on machinery, loose tools and computer and @5 % per annum on premises and furniture and fixtures 4 a debtor of rs 7200 become insolvent and only 25 paisa in a rupees is expected to be realised form him you are required to : 1 journalise these transactions, post them into ledger accounts and perpare a trial balance 2 prepare financial statement for daksh.also, comment on the profitability and solvancy of the firm

Paid cash to kamlesh rs 15000

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

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

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.

Accounting equation practical problem so Accounts

Features of accounting ?

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