Question

on 1st April 2018 he open a bank account in his firm name and deposited 980000 in it.he kept 20000 in hand purchase the premises for rupees 6 lakh and paid by cheque the applied for licence from the authorities .following assets purchase and payment was made through Bank microwave rupees 10000 ,refrigerator 55000, almari 15000,furniture 16000,coffee machine25000, A.C.70000 ,crockery and utensils20000.Saurav got the licence by month and the total expense incurred in this was 30000. He took insurance policy for his restaurant 500000. The following transaction took place during the year:- prchase of consumer store 692000 ,192000 credit and remaining is paid by cheque. salary of rupees 14000 per month is paid by cheque 2 month salary is still outstanding. Gas and electricity expense 10, 000 per month is paid by cash .water expense for 12000 is for year is paid by cheque .
telephone rupees 5000 per quarter is paid by cheque. Carriage inward rupees 10000 is paid in cash. carriage outward for Rs 12, 000 paid in cash . petty expense for 17000 is paid by cash . Indurance premises rupees 12000 is paid by check per month. Wages for 25000 is paid by cheque per month. total sales revenue was collected rupees 18 lakh all the cash collected and deposited in the bank by the end of the month. keeping 8000 in hand Mr Saurabh withdrawns 12000 every month .for personal use on 31st March 2019 the consumer store in hand was value rupees 32000. Depreciation is charged on all the fixed asset @ 10% per annum you are required to pass journal entries ,ledger trial balance and final account of Mr Saurabh and analyse the statement of the profit.​

Answer 1

Answer:

bank a/c dr. 980000

to cash. 980000

primises a/c dr. 600000

to bank. 600000