Question

Journalise the following transactions in the books of Nidhi : (6+2 = 8)

a) She Commenced Business with Cash Rs 1,80,000, Bank Balance Rs 1,30,000, Stock Rs 70,000

& Machinery Rs 20,000.

b) Purchase Horse for Rs 40,000

c) Nidhi sold her personal Car Rs 1,23,456.

d) Vijay Malaya who owed - Rs 12,000 has failed to pay his debts.

e) Sold Carcass of horse at - Rs 7,860.
f) Sold goods to Ram Lal for - Rs 40,000 at a trade discount of 10% and cash discount of 5%. Ram

Lal paid 1/4th amount by cheque (CGST & SGST @6% each).

Prepare Cash Account & Capital Account on the Basis of above Journal Entries.​

Answer 1

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