Prepare Cash Book from the following transactions: 2004
May 1 Balance of Cash in hand Rs.15,600; Overdraft at Bank Rs.7,400.
May 2 Capital introduced Rs.30,000, Out of which Rs.25,000 deposited into Bank.
May 3 Purchased goods on credit from Mohan of the list price of Rs.15,000. Out of this amount he allowed us a trade discount of 20%.
May 6 Settled the account of Mohan by paying cash Rs.11,600.
May 8 An amount of Rs.2,500 due from Chaturvedi & sons written off as Bad Debts in the previous year, now recovered.
May 10 Cashed a cheque for Rs.7,500.
May 10 Drew from bank for household expenses Rs.3,000 and for Income Tax
Rs.800
May 14 Received Rs.500 from the sale of old chairs.
May 15 Received from X on behalf of Y Rs.2,200.Discount allowed Rs.100. May 20 Received a cheque from Naresh Rs.4,210 in full settlement of his account of Rs.4,400.
May 22 Cheque received from Naresh sent to bank.
May 25 Sagar Chand, who owned us Rs.10,000 became bankrupt and paid us 40 paise in a rupee.
May 26 Received repayment of a loan of Rs.3,600 and deposited out of it Rs.2,000 into the bank.
May 28 Cheque received from Naresh dishonoured, Bank debits Rs.20 in respect of this cheque for Bank Charges.
May 31 Interest debited by bank Rs.650. Deposited with the bank the entire balance after retaining Rs.5,000 at office.
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Show the accounting equation on the basis of the following transaction: (12)
(a) Udit started business with: (i) Cash Rs. 5,00,000
(ii) Goods Rs. 1,00,000
(b) Purchased building for cash Rs. 2, 00,000
(c) Purchased goods from Himani Rs. 50,000
(d) Sold goods to Ashu (Cost Rs. 25,000) Rs. 36, 000
(e) Paid insurance premium Rs. 3,000
(f) Rent outstanding Rs. 5,000
(g) Depreciation on building Rs. 8,000
(h) Cash withdrawn for personal use Rs. 20,000
(i) Rent received in advance Rs. 5,000
(j) Cash paid to Himani on account Rs. 20,000
(k) Cash received from Ashu Rs. 30,000
(l) Interest on Capital Rs. 1,000.
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