Journalise the following transactions in the …

Journalise the following transactions in the books of Z & Co 2023 : April 1 Started the year with L & B 15,00,000, P & M 800,000, F & F 600,000, Stock 450,000, Drs 300,000, Cash 300,000, Bank 600,000, Accrued Interest 10,000, 12% Loan 15,00,000, B/P 50,000, Crs 100,000, Bank OD 40,000, O/S Rent 10,000 2 Received a Cheque from P & allowed him Discount 5%. Amount due 200,000 4 Above Cheque was deposited 5 Purchased Goods from W 200,000 @ 10% Discount & paid 60% of the amount due & obtained 5% Discount 6 Invested 100,000 in FD @ 9% 7 Purchased a new Machine worth 130,000 from M Ltd in exchange of old Machine with Book Value 55,000 & exchange value of 40,000. Balance amount was settled by cheque 8 Purchased 6 Laptop @ 30,000 from L at 5% Discount & paid 30% of the consideration by cheque. One Laptop was taken for personal use 12 Purchased 400 Sh of M Ltd @ 120 & paid 5% Brokerage from Bank 14 Cheque issued to M was dishonored along with Bank charges of 300 16 Sold Goods to G purchased from P at 20,000 at 20% Profit 17 Fresh cheque was issued to M 18. 40% of the goods were returned by G which was returned to P 20 Good Destroyed by Fire CP 60,000, SP 75,000 22 Paid Rent 70,000 which includes O/S Rent 10,000 & Prepaid Rent amounting to 25,000 24 Paid Elec Bill from Personal Cash 15,000 (1/5 personal use) 25 Imported P & M 38,000 from N & paid 1,500 import duty, 1000 on Transportation & 500 on a/c of installation 27 Signed a 50,000 Contract with E 28 D, a Dr became insolvent & only 25% could be recovered from him in Cash. Amt Due 5,000 29 Stock Pilferage 2,000, Cash Stolen 1,700 30 Goods taken for personal use CP 1,300 & SP 1,550 30 Interest charged 30 Insurance Co approved 70% of the Claim & issued a cheque

Chapter 3 question number 21

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.

Features of accounting ?

Accounting equation practical problem so Accounts

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.​

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

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

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

Paid cash to kamlesh rs 15000