Question

-. On 1st April 2019, Singh's Assets and Liabilities stood as follows:
Assets: Cash Rs. 6,000; Bank: Rs. 17,000; Stock: Rs. 3,000; Bills Receivable
Rs.7,000; Debtors: Rs.3,000: Building: Rs.70,000; Investments Rs. 30,000; Furniture: Rs.
4,000.
Liabilities: Bills Payable Rs. 5,000; Creditors: Rs.9,000; Rams Loan: Rs.13,000.​

Answer 1

Answer:

Debit(Rs.)Credit(Rs.)2005Nov.1Arun's AccountDr.5,300To Cash Account5,250To Discount Received Account50(Being the cash paid to Arun and discount received)Nov.6Cash AccountDr.2,300To Somesh's Account1,900To Komesh's Account400(Being cash received)Nov.8Purchases AccountDr.4,000Furniture AccountDr.3,000Raman's AccountDr.2,090Salary AccountDr.7,600Rent AccountDr.1,400To Cash Account18,090(Being the cash paid )