Question

Bhupender commenced business with cash rupees 65 thousand and stock rupees 35000 he purchased goods on credit rupees 14000 sold goods costing rupees 15504 rupees he returned goods to supplier rupees for thousand cash paid to supplier rupees 5,500 goods returned by a customer rupees 3000 cost rupees 2,800 cash received from customer rupees 4500

Answer 1

Answer:

cash A/c                       Dr 65,000

stock A/c                      Dr 35,000

               to capital A/c                                  1,00,000

2.purchases A/c                        Dr 14,000

                            to creditor A/c                14,000

3.cash A/c               Dr 15504

                to sales A/c               15504

4. supplier A/c                                         Dr 1,000

                          to purchase return A/c                 1,000

5.supplier A/c                                  Dr 5,500

                                      to cash A/c                  5500

6.sales return A/c                 Dr 2,800

capital A/c                            Dr 200

                        to debtor A/c            3,000

7. cash A/c                      Dr 4,500

                   to debtor A/c              4,500

Explanation: