Question

From the following particulars prepare Receipts and Payment account of
Dr Sanjeev for the year ending 31/03/2019
Cash Balance - Rs. 20.000
Newspaper and journal - Rs. 1,200
Printing and stationary Rs. 2,000
Consultation fees – Rs. 8,000
Electricity charges - Rs. 800
Purchased - Rs. 20,000
I
Visiting fees Rs. 80,000
Rent from OT - Rs. 8,000
Rent paid - Rs. 16.000
Furniture purchased - Rs. 20.000
Govt Medicines Purchased - Rs. 20,000​

Answer 1

Answer:

1. Balance b/d dr. 20,000
2. newspaper and journals are expenses so these are credited 1,200
3. printing &stationary is also expenses so 2000 should credited
4. consultation fees should be credited because it also a expenses
5. purchases always should be debited so 20,000 should debited.
6. visiting fee aslo a expenses so it also be credited.
7. rent received from OT should be debited.
8. rent paid should credited.
9. furniture purchased should be debited.
10. medicines purchased a/c debited

to cash a/c.

*hope its helpful*