Question

2. Ram was carrying on business as a cloth dealer. On 1st Jan. 2016 his assets were: Furniture and Office Equipment, 12,500. Stock of Cloth, 1,25,000; Cash in hand, 72,250, Bank balance, 42,500, Amount due from B 6,000, Amount due from G 7,500. On that date he owed 10,000 to M and 7,250 to P. His transactions during Jan. 2016 were as follows: 2016 Jan. 1 Sold cloth on credit to G 2 Purchased cloth from A on credit 3 Paid rent for January by cheque 4 Cash purchases of cloth (paid by cheque) Cash sales 5 Received cheque from B Allowed him discount Paid for stationery and postage 8 Drawn cash for private use *10 Drawn cash from Bank for office 12 B's cheque returned dishonoured by Bank which charges 25 for expenses 13 Purchased goods on credit from M 15 Sent cheque to M in full settlement of amount due on Jan. 1 Sent cheque to P 16 Sold goods on credit to G 17 Paid telephone charges 18 Cash sales Paid for advertising 20 Paid income-tax Received letter from P saying that he has not received the cancelled the cheque and paid cash. 21 B becomes insolvent; only 50% received from his estate Cash purchases 24 Purchased filing cabinet and paid by cheque 27 Purchased Government securities 2,500 10,000 1,500 4,000 2,250 4,900 100 250 2,500 7,500 ing methoo keepe uch bo easons 12,500 9,750 7,250 9,000 2,400 1,500 1,750 9,500 d enter the led ash Ba cheque; 4,500 2,500 15,000 4,000 Paid salaries for the month Joumalise the transactions. Note that cheques received are immediately sent to the Bank,2. Ram was carrying on business as a cloth dealer. On 1st Jan. 2016 his assets were: Furniture and Office Equipment, 12,500. Stock of Cloth, 1,25,000; Cash in hand, 72,250, Bank balance, 42,500, Amount due from B 6,000, Amount due from G 7,500. On that date he owed 10,000 to M and 7,250 to P. His transactions during Jan. 2016 were as follows: 2016 Jan. 1 Sold cloth on credit to G 2 Purchased cloth from A on credit 3 Paid rent for January by cheque 4 Cash purchases of cloth (paid by cheque) Cash sales 5 Received cheque from B Allowed him discount Paid for stationery and postage 8 Drawn cash for private use *10 Drawn cash from Bank for office 12 B's cheque returned dishonoured by Bank which charges 25 for expenses 13 Purchased goods on credit from M 15 Sent cheque to M in full settlement of amount due on Jan. 1 Sent cheque to P 16 Sold goods on credit to G 17 Paid telephone charges 18 Cash sales Paid for advertising 20 Paid income-tax Received letter from P saying that he has not received the cancelled the cheque and paid cash. 21 B becomes insolvent; only 50% received from his estate Cash purchases 24 Purchased filing cabinet and paid by cheque 27 Purchased Government securities 2,500 10,000 1,500 4,000 2,250 4,900 100 250 2,500 7,500 ing methoo keepe uch bo easons 12,500 9,750 7,250 9,000 2,400 1,500 1,750 9,500 d enter the led ash Ba cheque; 4,500 2,500 15,000 4,000
make journals of it​

Answer 1

Explanation:

A on credit 3 Paid rent for January by cheque 4 Cash purchases of cloth (paid by cheque) Cash sales 5 Received cheque from B Allowed him discount Paid for stationery and postage 8 Drawn cash for private use *10 Drawn cash from Bank for office 12 B's cheque returned dishonoured by Bank which charges 25 for expenses 13 Purchased goods on credit from M 15 Sent cheque to M in full settlement of amount due on Jan. 1 Sent cheque to P 16 Sold goods on credit to G 17 Paid telephone charges 18 Cash sales Paid for advertising 20 Paid income-tax Received letter from P saying that he

Answer 2

Answer:

hope it will help you ✌

Explanation:

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