Question

0nly for moderators


From the following information perpare Praveens Account as on 31-03-2014..
YEAR
2014
March.


7. Balance due from praveen. 3,500
7. Sold goods to praveen 1,500
10.purchased goods from.pravven. 1,000
15. Received cash from.praveen. 800
23. Returned goods to praveen with 10% discount. 200



⊙please don't answer if you don't know but don't post worst answers here..
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Answer 1

Answer:

dr . ..... Parveen. account. cr

mar.7 mar 10

balance b/d 3500. purchase a/c. 1000

sales a/c. 1500. mar 15

cash a/c. 800

mar 23

purchase

return 200. mar31

balance c/d. 3400

Answer 2

Answer:

Refer to the attachment.

Rules of Accounting:

Increase in assets or expenses/losses is debited and decrease in assets and expenses/losses is credited.

Increase in liabilities, income/gains and capital is credited and decrease in them is debited.