Brought 50,000 cash, debtors 20,000. stock of goods 10,000 and creditors of 5000 and commenced businesses
Answers
Answer:
Solution 1
Sr. No.
Transactions
Assets
=
Liabilities+
Capital
Cash
Rs.
+
Bank +
Rs.
Stock
Rs.
=
Creditors
Rs.
Capital
Rs.
(i)
Started business with cash
45,000
=
45,000
45,000
=
45,000
(ii)
Opened a Bank Account with a deposit
(4,500)
4,500
=
40,500
4,500
=
45,000
(iii)
Bought goods from M/s .Sun and Co.
11,200
=
11,200
Total
40,500
+
4,500 +
11,200
=
11,200 +
45,000
Solution 2
Sr. No.
Transactions
Assets
=
Liabilities
+
Capital
Cash
Rs.
+
Stock
Rs.
+
Debtors
Rs.
=
Creditors
Rs.
Capital
Rs.
(i)
Gopinath started business with
25,000
=
25,000
25,000
=
25,000
(ii)
Purchased goods from Shyam
10,000
10,000
25,000
10,000
=
10,000
25,000
(iii)
Sold goods to Sohan
(1,800)
1,500
=
(300)
25,000
8,200
1,500
=
10,000
24,700
(iv)
Gopinath withdraw from business
(5000)
=
(5,000)
Total
20,000
+
8,200
+
1,500
=
10,000
+
19,700