No products in the cart.

Journal Entries and Ledger Prep Default …

CBSE, JEE, NEET, CUET

CBSE, JEE, NEET, CUET

Question Bank, Mock Tests, Exam Papers

NCERT Solutions, Sample Papers, Notes, Videos

Journal Entries and Ledger Prep Default (GPT-3.5) User SITUATION On 1st January, 2016 Mr Veer Das decided to start a driving school and also to sell car accessories through same place. For this purpose he bought a workshop at a cost of 20,00,000 and decided to invest ₹ 7,50,000 as a further capital in the proposed business. He employed assistants and training staff for this purpose. He wants to start with 5 second hand cars. For further funds he approached Punjab National Bank and secured a loan of 18,00,000 @ 10% per annum. The loan was payable in 4 instalments along with interest due. Purchased cars. 13,00,000 Security depsoited for electricity connection with electricity board 60,000. Security deposited with BSNL for telephone and Internet connection 1,50,000 Purchased furniture 1,20,000 Fees received from students19.50,000 Bought car accessories 3,30,000 Sale of car accessories4,80,000 Wages paid2,70,000 Salaries paid 3,75,000 Electricity charges1,42,500 Advertisement66,000 Postage and call28,500 General expenses 18,000 Insurance premium13,800 Bought laptop and printer 90,000 He withdrew 36,000 per month as drawings and repaid the annual instalment of bank loan along with interest due to 31st December, 2016. Assume all transactions took place through Punjab National Bank. You are required to (1) Journalise these transactions after considering the following information (1) Depreciate building by 5% and cars and furniture @ 10% per annum (ii) Stationery unpaid 27,000 (iii) Advertisement include unissued material worth 12,000. (iv) Insurance prepaid 4,500 (v) Stock of car accessories 58,500. (2) Post them into ledger and prepare trial balance.
  • 0 answers
http://mycbseguide.com/examin8/

Related Questions

Paid cash to kamlesh rs 15000
  • 2 answers
Features of accounting ?
  • 0 answers
Chapter 3 question number 21
  • 0 answers

myCBSEguide App

myCBSEguide

Trusted by 1 Crore+ Students

Test Generator

Test Generator

Create papers online. It's FREE.

CUET Mock Tests

CUET Mock Tests

75,000+ questions to practice only on myCBSEguide app

Download myCBSEguide App