Question

journalise the following transaction in the books of sita: (1). business commenced with a capital of rs 600000 (2) . Rs 450000 deposited in a bank account. (3). Rs 230000 plant and machinery purchashed by paying Rs 30000 cash immediately. (4). purchased goods worth rs 40000 for cash and rs 45000 on account. (5). paid a cheque rs 200000 to the suppier for plant and manhinery. (6). rs 70000 cash sales (of goods costing rs 50000.) (7) . withdrawn by the proprietor rs 35000 cash for person use. (8) . insurance paid by cheque of rs 2500 (9). salary of rs 5500 outstanding. (10). furniture of rs 30000 purchased in cash.


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Answer 1

Answer:

From the following prepare Bank Reconciliation statement in the books of

Rajath and co., as on 30.9.2020.

a. Overdraft balance as per cashbook Rs. 28,470.

b. Interest allowed by bank of Rs.200 was entered twice in the cash

book.

c. It was found that total of one page on the payment side of the cash

book which was Rs. 1,250 was written as Rs.1,520 on the next page.

d. A cheque of Rs.32,000 issued to Insurance company was not yet

presented for payment

e. Out of cheques issued for Rs.7,500 cheques of Rs.5,000 were

presented for payment till the date.

f. Out of the cheques presented for payment one cheque of Rs.700

was not honored due to some technical reasons. No entry was passed

in the cash book for dishonor.