Issues
repare store ledger account by LIFO method from the foll
owing informations :
Receipts
Date
Units
Rate
Date
2016
(Kg.)
₹
2016
Feb. 1
800
5
Feb.5
400
6
Feb. 12
1,600
7
Feb. 18
800
8
Feb. 20
Kg
Feb. 10
40
Feb. 15
80
Feb. 22
Feb. 29
LO
kg pruchased on 10th Feb. were found to be defective and returned to vendor on 14th
re found to be surplus on checking on 29th Feb. due to short weighting of material iss
s.: C/S on Feb. 29 2.3641
Answers
Answer:
16. Record the following transactions in aouble column cash book and balance it
Date
Farticulars
Rs
2021
Feb-01
Bank balance
50000
Casn balance
10000
Feb-02
Paid Insurance premium by cheque
8000
Feb -05
Cash sales
25000
Feb -08
Cash purchases
18000
Feb -10
Cash deposited into the bank
19000
Feb -12
Telephone bill paid by cheque
2500
Feb -15
Withdrawn cash from the bank for personal use 5000
Feb -16
Cash withdrawn from bank for office use
10000
Feb-18
Received cheque from Anand
10500
Feb - 22
Cortage paid in cash
1500
Feb - 28
Cheque received from Kumar
5000
PART-E (Practical Oriented questions
Explanation:
16. Record the following transactions in aouble column cash book and balance it
Date
Farticulars
Rs
2021
Feb-01
Bank balance
50000
Casn balance
10000
Feb-02
Paid Insurance premium by cheque
8000
Feb -05
Cash sales
25000
Feb -08
Cash purchases
18000
Feb -10
Cash deposited into the bank
19000
Feb -12
Telephone bill paid by cheque
2500
Feb -15
Withdrawn cash from the bank for personal use 5000
Feb -16
Cash withdrawn from bank for office use
10000
Feb-18
Received cheque from Anand
10500
Feb - 22
Cortage paid in cash
1500
Feb - 28
Cheque received from Kumar
5000
PART-E (Practical Oriented questions