Mr. Bansal Planned to sart an …

Mr. Bansal Planned to sart an Auto agency to purchase and sell scooters and motorcycles. According to his calculations there was a capital requirement of ₹ 7500000. His savings was not sufficient for this business so he decided to take a loan from the bank for ₹ 6000000 on the security of his own house. The loan was sanctioned on 15th march 2010. After sanctioning of loan he purchased the required fixed assets for this business which are as follows: 1. Office premises ₹ 3750000 2. Office equipment ₹ 360000 3. Furniture and fittings ₹ 390000 Mr. Bansal has done all the transactions through bank. All the sales were made on cash basis and same cash is deposited in the bank. On the other hand all the expenses were also made by cheque. Purchases were also through cheque. However the purchase made of March 2011 was done on credit basis. Following transaction were made during the year. 1 2 3 4 5 6 7 8 9 10 Cash purchases Credit purchases Sales on cash Water and electricity expenses Mobile courier expenses Salaries Sales promotion expenses Trade Expenses Miscellaneous expenses Printing and Stationery 3720000 300000 4770000 39000 17700 195000 18000 9000 52500 6000 Some of the expenses for the month of March 2011 were not paid yet:- Water and electricity Salaries Mobile Expenses 2400 20100 900 1. Journalise the above transactions. 2. Post them in the ledgers. 3. Prepare the trial balance 4. Prepare a Bar diagram for expenses. 5. Use the A4 Sheet only

Accounting equation practical problem so Accounts

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

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

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

Features of accounting ?

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.

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

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.​