A ledger keeper could not agree …

A ledger keeper could not agree the trail balance . He transferred an amount of Rs. 1859 being excess of the debit side of the suspense account. The following errors were subsequently discovered: (a)Amount payable to Govind Ram for repairs done to radio Rs. 1,500 and radio supplied for Rs.9,500 were entered in the purchase book as Rs. 10,000. (b)An item of Rs. 5,000 relating to prepaid Insurance Account was omitted to be brought forward from the previous year’s book. (c)A discount of Rs. 581 allowed to a customer has been credited to him as Rs. 562. (d)An amount of Rs. 5,000 due from Rakesh which has been written off as bad debts in the previous year was now recovered and had been posted to the personal account of Rakesh. (e)Goods purchased for Rs. 1,250 have been posted to the debit of the supplier, Vinod & Com. (f)Furniture amounting to Rs. 6,500 purchased on credit from quality Furniture Co. An entry for Rs. 5,600 was

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

Chapter 3 question number 21

Features of accounting ?

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

Accounting equation practical problem so Accounts

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Goods of the selling price of 3000 are further withdrawn by Sonia for personal use 20% of cost is added to fix up the selling price

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

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.​