Shyam started a manufacturing business with …

Shyam started a manufacturing business with cash ₹ 10,00,000; Goods ₹ 2,00,000 and Furniture of ₹ 1,00,000. He opened a Bank Account with HDFC Bank in the name of the firm by depositing ₹ 60,000. The following transactions took place: (a) Goods purchased in cash ₹ 80,000 and on credit ₹ 50,000. (b) Goods were sold in cash ₹ 1,00,000 and on credit ₹ 50,000 at cost price plus 25%. (c) Cash paid to creditors on account ₹ 30,000. (d) Cash received from debtors ₹ 10,000. Other information (a) Debtors have deposited 50 % of the remaining amount in firm’s bank Account. (b) Bank charges ₹2,000 were charged by bank for services provided 51. How much total capital brought by Mr. Shyam to start the business in the beginning? (a) ₹ 10,00,000 (b) ₹ 12,00,000 (c) ₹ 15,00,000 (d) ₹ 13,00,000 52.How much amount is yet to be paid to the creditors? (a) ₹ 50,000 (b) ₹ 30,000 (c) ₹ 20,000 (d) Already paid full amount 53.How much total profit made the him? (a) ₹ 37,500 (b) ₹ 30,000 (c) ₹ 28,000 (d) ₹ 12,500 54.What is the amount of goods left? (a) ₹2,00,000 (b) ₹10,000 (c) ₹3,30,000 (d) ₹2,10,000 55.What is the amount of sales? (a) ₹ 1,00,000 (b) ₹ 1,50,000 (c) ₹ 30,000 (d) ₹ 50,000

Accounting equation practical problem so Accounts

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

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

Chapter 3 question number 21

Features of accounting ?

Goods of the selling price of 3000 are further withdrawn by Sonia for personal use 20% of cost is added to fix up the selling price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