1. Journalise the following transactions in the books of Raj Deshpande :
2010
April 1 Debit balances : Cash in hand 18,000, Cash at bank 25,600, Stock of goods 20,000, Furniture 4,000
and Building 20,000, Sourav 2,700, Nitin 1,500, Ashwini 2,000, Credit Balances : Sunny 5400, Sahil
and Co. * 0,000 and AishwarayaRai 5,500, Mrs S's loan 20,000.
April 3 Purchased goods worth * 10,000 ess 20% trade discount and 5% cash discount.
April 7 Sold goods to Vinod on credit 12000.
April 11
Vinod became insolvent and could lay only 50 ptseirta rupee.
April 15 Bought 100 shares in Ambani Electonic Lid. @ 10 per share and pad brokerrage 40.
April 19 Paid to Babu Interest on loan 250.
Answers
Answer:
3mahesh started a business he introduced cash of 2lakh he paid 50000 cash as rent he brought furniture for 10000 and spent 10000 on interior work. the business was trading in stationary item mahesh purchase goods for sales spending 100000 cash, in the 1st week goods costing 50000 where sold for 57500 and cash receive in full and in the second weeks goods costing 40000 was sold for 48480 on credit transation in 3rd week where purchase of goods for cash 25000 purchase of goods for credit 50000 sale of goods for cash 36000 (cost 30000) in the 4th week transaction were credit sales 37500(cost30000) rent paid 5000 salary paid 7500 loan taken from band at 12% interest 250000 mahesh purchase packing machine for cash spending 275000 . 1. for the 1st month what is the value of income from the business 2. what is the value of expenditure it will be used to find out profit or loss 3.find out the profit or loss for the 1st month 4.what is the cash balance at the end of the 1st month.