So annual depreciation = 90000

Annual depreciation = (1200000-120000)/12

Cash a/c dr 8,400 To sells a/c 7,500 To CGST a/c 450 To SGST a/c 450

Stationary account dr .300

CGst and SGst ....dr 18+18=36

• To cash account.............336

( being cash paid on tax and purchase stationary)

yes

Yes they are in syllabus

Ofcourse they are

Yes they are

Creditors, Bill Payable

1. Bills. 2.dividend payable.

Basic accounting terms Business Transaction An Economic activity that affects financial position of the business and can be measured in terms of money e.g., purchase of goods for use in business. Account: Account refers to a summarized record of relevant transactions of particular head at one place. All accounts are divided into two sides. The left side of an account is called debit side and the right side of an account is called credit side. Capital: Amount invested by the owner in the firm is known as capital. It may be brought in the form of cash or assets by the owner. Drawings: The money or goods or both withdrawn by owner from business for personal use, is known as drawings. Example: Purchase of car for wife by withdrawing money from business. Assets: Assets are valuable and economic resources of an enterprise useful in its operations. Assets can be broadly classified as: Current Assets: Current Assets are those assets which are held for short period and can be converted into cash within one year. For example: Debtors, stock etc. Non-Current Assets: Non-Current Assets are those assets which are hold for long period and used for normal business operation. For example: Land, Building, Machinery etc. They are further classified into: Tangible Assets: Tangible Assets are those assets which have physical existence and can be seen and touched. For Example: Furniture, Machinery etc. Intangible Assets: Intangible Assets are those assets which have no physical existence and can be felt by operation. For example: Goodwill, Patent, Trade mark etc. Liabilities: Liabilities are obligations or debts that an enterprise has to pay after some time in the future. Liabilities can be classified as: Current Liabilities: Current Liabilities are obligations or debts that are payable within a period of one year. For Example: Creditors, Bill Payable etc. Non-Current Liabilities: Non-Current Liabilities are those obligations or debts that are payable after a period of one year. Example: Bank Loan, Debentures etc. Receipts Revenue Receipts: Revenue Receipts are those receipts which are occurred by normal operation of business like money received by sale of business products. Capital Receipts: Capital Receipts are those receipts which are occurred by other than business operations like money received by sale of fixed assets. Expenses: Costs incurred by a business for earning revenue are known as expenses. For example: Rent, Wages, Salaries, Interest etc. Expenditure: Spending money or incurring a liability for acquiring assets, goods or services is called expenditure. The expenditure is classified as : Revenue Expenditure: If the benefit of expenditure is received within a year, it is called revenue expenditure. For Example: rent, Interest etc. Capital Expenditure: If benefit of expenditure is received for more than one year, it is called capital expenditure. Example: Purchase of Machinery. Deferred Revenue Expenditure: There are certain expenditures which are revenue in nature but benefit of which is derived over number of years. For Example: Huge Advertisement Expenditure. Profit: The excess of revenues over its related expenses during an accounting year is profit. Profit = Revenue - Expenses Gain: A non-recurring profit from events or transactions incidental to business such as sale of fixed assets, appreciation in the value of an asset etc. Loss: The excess of expenses of a period over its related revenues is termed as loss. Loss = Expenses - Revenue Goods: The products in which the business deal in. The items that are purchased for the purpose of resale and not for use in the business are called goods. Purchases: The term purchases is used only for the goods procured by a business for resale. In case of trading concerns it is purchase of final goods and in manufacturing concern it is purchase of raw materials. Purchases may be cash purchases or credit purchases. Purchase Return: When purchased goods are returned to the suppliers, these are known as purchase return. Sales: Sales are total revenues from goods sold or services provided to customers. Sales may be cash sales or credit sales. Sales Return: When sold goods are returned from customer due to any reason is known as sales return. Debtors: Debtors are persons and/or other entities to whom business has sold goods and services on credit and amount has not received yet. These are assets of the business. Creditors: If the business buys goods/services on credit and amount is still to be paid to the persons and/or other entities, these are called creditors. These are liabilities for the business. Bill Receivable: Bill Receivable is an accounting term of Bill of Exchange. A Bill of Exchange is Bill Receivable for seller at time of credit sale. Bill Payable: Bill Payable is also an accounting term of Bill of Exchange. A Bill of Exchange is Bill Payable for purchaser at time of credit purchase. Discount: Discount is the rebate given by the seller to the buyer. It can be classified as : Trade Discount: The purpose of this discount is to persuade the buyer to buy more goods. It is offered at an agreed percentage of list price at the time of selling goods. This discount is not recorded in the accounting books as it is deducted in the invoice/cash memo. Cash Discount: The objective of providing cash discount is to encourage the debtors to pay the dues promptly. This discount is recorded in the accounting books. Account : Account refers to a summarised record of relevant transaction of particular head at one place. Income: Income is a wider term, which includes profit also. Income means increase in the wealth of the enterprise over a period of time. Stock : The goods available with the business for sale on a particular date is known as stock. Cost : Cost refers to expenditures incurred in acquiring manufacturing and processing goods to make it saleable. Voucher: The documentary evidence in support of a transaction is known as voucher. For example, if we buy goods for cash we get cash memo, if we buy goods on credit, we get an invoice, when we make a payment we get a receipt. Goods and Service Tax (GST) : GST is an indirect tax which is levied on the supply of goods and service.

(D) Journal proper

Cash purchases are recorded in the Cash Book. Other purchases such as purchases of office equipment, furniture, building, are recorded in the journal proper if purchased on credit or in the cash book if purchased for cash.  On account is an accounting term that denotes the furniture or asset or service is purchased on credit.

(C) Ledger

Subsidiary Books are the sub divisions of a Journal. These books are meant for recording the transactions of a similar nature in a separate book. When there are many transactions, the Journal is sub-divided into subsidiary books to record such voluminous transactions and events in one single book. These books are also termed as 'Special Purpose Books or Special Journals or Book of Original/Primary/Prime entry'.

(₹10,000+₹2,000) - (₹500) = ₹11,500

Capital mai decrease ho ya increase. They will recorded in credit site

Debit side

Credit

Cash Basis

T-accounts are simply another way of representing an account.
There is one T-account for each account on a balance sheet.
Each T-account contains the name and balance (current dollar value) of a particular account.
The current value of a T-account is always taken from the most recently prepared balance sheet.
The opening and normal balance of an asset account goes on the left side of a T-account because assets appear on the left side of a balance sheet.
On the other hand, the opening and normal balance of a liability or owner’s equity (capital) account goes on the right side of a T-account because liabilities and owner’s equity appear on the right side of a balance sheet.

Purchase A/C. Dr Anand's A/C

Purchases A/C...........Dr. To Anand's A/C

Purchases A/C............Dr. To Band's A/C

Following are the transactions for the period April 20×1 to March 20×2 in the books of Michael Traders

1-Apr	Michael started business with cash 600,000, cash at Bank of America 700,000, furniture 200,000.
1-Apr	Purchased Plant & Machinery worth 250,000 by cheque.
25-Apr	Purchased goods from ABC Ltd worth 800,000 @10% trade discount.
5-May	Cash Sales 1,000,000 @5% trade discount to XYZ Traders
15-May	Deposited cash with Bank of America 500,000.
5-Jun	Paid ABC Ltd 300,000 in cash.
10-Jun	Received commission 75,000 by cheque.
25-Jun	Cash Purchases 250,000.
5-Jul	Sold goods to XYZ Traders 475,000.
15-Jul	Received 275,000 by cheque from XYZ Traders.
5-Aug	Loan taken from Bank of America 200,000
25-Aug	Purchased goods from ABC Ltd 50,000.
27-Aug	Withdrew cash from bank 10,000.
5-Sep	Received commission 55,000 in cash.
10-Sep	Paid ABC Ltd 70,000 by cheque.
20-Sep	Received 90,000 in cash from XYZ Traders.
1-Oct	Bank loan repaid 50,000.
25-Oct	Cash Purchases 25,000.
5-Nov	Sold goods to XYZ Traders 47,000.
15-Nov	Withdrew cash from bank 15,000.
5-Dec	Received interest from bank 5,000.
25-Dec	Purchased goods from ABC Ltd 75,000.
5-Jan	Cash Sales 100,000.
15-Jan	Deposited cash with Bank of America 35,000.
25-Feb	Cash Purchases 450,000.
28-Feb	Office was taken on rent in the month of Feb. Office rent paid in cash 50,000.
28-Feb	Employees were hired in the month of Feb. Paid salary by cheque 30,000 & cash 30,000 for the month of Feb 20×2.
5-Mar	Sold goods to XYZ Traders 675,000.
31-Mar	Paid office rent by cheque 50,000.
31-Mar	Paid salary in cash 30,000 for the month of March 20×2.

 

For answers click on the given link:

<a data-ved="2ahUKEwi8jbmL6tztAhXDgeYKHbf5DlsQFjAAegQIARAC" href="https://www.accountingcapital.com/question/can-you-show-30-transactions-of-journal-ledger-trial-balance-and-financial-statements/" ping="/url?sa=t&source=web&rct=j&url=https://www.accountingcapital.com/question/can-you-show-30-transactions-of-journal-ledger-trial-balance-and-financial-statements/&ved=2ahUKEwi8jbmL6tztAhXDgeYKHbf5DlsQFjAAegQIARAC" rel="noopener" target="_blank">Show 30 transactions of journal, ledger, trial balance ...</a>

Show answer

There are so many All the expense and asset come under debit While all the income,liability,losses come under credit✌✌

Thanks

• In the given case,it has been stated that the Marketing Manager had resigned from his post and such resignation was not recorded in the books of Accounts of the organisation.
• The treatment of such resignation,of not recording it,by the organisation is correct and justified.
• In the books of accounts,only those transactions are recorded which can be expressed in monetary terms ignoring the qualitative aspects of such transactions.
• The resignation of Marketing Manager is a case of Human Resource Management and therefore,cannot be recorded in the books of accounts.

The real accounts are the balance sheet accounts such as the accounts for recording assets, liabilities, and the owner's (or stockholders') equity. Business transactions are events that have a monetary impact on the financial statements of an organisation. When accounting for these transactions, numbers are recorded in two accounts, where the debit column is on the left and the credit column is on the right.
A debit is an accounting entry that either increases an asset or expense account, or decreases a liability or equity account. It si positioned to the left in the accounting entry.
Assets, expenses, losses and the owner's drawing account will normally have debit balances. Their balances will increase with a debit entry, and will decrease with a credit entry.

Two Column Cash Book
Date	Particulars	L.F.	Cash	Bank	Date	Particulars	L.F.	Cash	Bank
2012
Jan. 01	Balance b/d		4,000	12,000	Jan. 07	Salaries
Jan. 04	Sales A/c		13,200		Jan. 10	Sudhir			5,000
Jan. 05	Suresh		2,500		Jan. 12	Travelling Expenses		1,200
Jan. 06	Ravi			6,400	Jan. 15	Purchases
Jan. 16	Cash	C		10,000	Jan. 16	Bank	C	10,000
Jan. 20	Sales		15,100		Jan. 21	Machinery			6,800
Jan. 22	Bank	C	7,500		Jan. 21	Machinery		400
Jan. 23	Anil			4,600	Jan. 22	Cash	C		7,500
Jan. 31	Cash	C		1,200	Jan. 27	Anil			4,600
					Jan. 28	Typewriter			8,000
					Jan. 30	Salary		120
					Jan. 31	Bank	C	1,200
					Jan. 31	Balance c/d		29,380	2,300
			42,300	34,200				42,300	34,200

Notes:

1. Purchase of Machinery is assumed to be made on January 20 as the date is not mentioned.
2. Wages paid for installation of Machinery that is paid on January 21 is assumed to be paid in cash, therefore, recorded in the cash column.
3. The amount paid for salaries by cheque on January 07, 2012 and the amount of cash purchases made on January 15 is missing in the given question. Therefore, these transactions are not recorded in the Cash Book. However, if amounts are given, then we record Salaries paid by cheque on the credit side in the Bank column and Cash purchases are recorded on the credit side in the Cash column.

Cash A/c Dr. To capital A/c

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