Cash sales Rs.20,000
Cash purchases Rs.30,000
Goods withdrawn for personal use Rs.5,000
Goods sold to Ramesh for cash Rs.40,000
Cash paid to Prasad in full settlement of his account of Rs.950
Cash received from X & Co. in full settlement of their account
Furniture purchased and payments made by cheque Rs.5,000
Goods purchased worth Rs.20,000 and allowed at 10% tradea
Goods sold worth Rs.30,000 at a trade discount of 10%.
payments made by cheque at 5% cash discount.
Previously written off as bad debts Rs.1,000 now recovered.
Commission received from Srinivas & Co. Rs.700
July 11
July 12
July 13
July 14
July 15
July 16
July 16
Rs.500
July 17
July 18
July 19
Cash drawn from bank for office use Rs.7,000
Cash drawn for domestic use Rs.5,000
Loan repaid to X Rs.1,00,000
July 20
July 21
July 22
July 23
July 24
July 25
Old news papers sold for Rs.250
Shares purchased in Bharat Ltd. for Rs15,000, divided into
July 26
Answers
Answered by
0
Explanation:
S. No.
Transactions
Assets
=
Liabilities
+
Capital
Cash
(Rs)
+
Bank
(Rs)
+
Stock
(Rs)
=
Creditors
(Rs)
(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 & Co.
11,200
=
11,200
40,500
+
4,500
+
11,200
=
11,200
+
45,000
Total Assets
=
Cash + Bank + Stock
=
40,500 + 4,500 + 11,200
=
Rs
56,200
Liabilities
=
11,200
Capital
=
45,000
Answered by
0
Answer:
cash account dr to sales account
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