11. Loan taken for Car for …

11. Loan taken for Car for office use Rs.1,00,000. 12. 13. Paid installation charges on machinery Rs.1,000. Goods purchased Rs.30,000, carriage paid on them Rs.3,000 14. Provide interest on capital @ 6%. 15. Goods costing Rs.1,000 given as charity, Rs.2,000 2000 used by proprietor for his personal use, Rs. 2,000 distributed as free samples. Loan repaid Rs. 20,000, being Rs.12,000 as interest and Rs.8,000 as principal amount. Rahul who owed us Rs. 12,000 becomes insolvent and a first and final dividend of 60 paise in a rupee is received from his estate. Goods lost in an accident worth Rs.15,000. These were insured and insurance company admitted a claim of Rs.12,000 only. Proprietor withdrew for private use Rs.4,000 from office and Rs.6,000 from bank. Received cash for dividend on securities Rs 200 16. 17. 18. 19. 20. 21. Purchased land and a small office building. The land was worth Rs. 1,50,000 and the building worth Rs. 3, 50,000. The purchase price was paid with Rs. 3,00,000 cash and bills payable for Rs. 5,00,000. 22. 23. 24. 25. Purchase new office equipment worth Rs.1,00,000 by paying Rs. 93,000 cash and balance in exchange of old equipment (book value Rs.15,000) with a recorded value of Rs. 7,000. Charge depreciation @ 10% p.a. for two months on machine costing Rs.30,000. Commission received in advance Rs. 7,000. Cash invested in shares Rs.50,000, brokerage paid 2%.

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.

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

Chapter 3 question number 21

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

Accounting equation practical problem so Accounts

Features of accounting ?

Paid cash to kamlesh rs 15000

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

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