Pass the journal entries to rectify …

Pass the journal entries to rectify the following errors detected during preparation of the Trial Balance: Goods of the value of Rs.2,000 returned by Vishu were entered in the Sale Book and posted therefrom to the credit of his account. (i) A sale of Rs.2,000 made to Mohit was correctly entered in the Sales Book but wrongly posted to the debit of Sohan as Rs.200. (ii) Goods worth Rs.1,500 bought by the proprietor for his personal use without any payment being made as yet, was wrongly entered in the Purchases Book. (iii) A bill of Amit accepted for Rs.3,000 has been passed through bills receivable book. (iv) A bill for Rs.850 received from Ram for repair to plant was entered in the purchases book as Rs.650. (v) A purchase of goods from Ram amounting to Rs.1,500 has been wrongly passed through the sales book. (vi) Sale of Rs. 840 to Amit was recorded in the purchases book and Amit was debited by Rs. 480.

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.​

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

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

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

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

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

Accounting equation practical problem so Accounts

Chapter 3 question number 21