Question

Prepare Chart showing Analysis of the following transaction in a Tabular form according to Modern approach

Answer 1

cording to Modern Approach.

1.

Mr. Meghraj started business with cash 30,000.

2. Deposited cash into Bank of India 2,000.

3.

Withdrew cash 1,000 for personal use.

4. Purchased goods on credit from Nilesh 2,000.

5. Cash purchases * 3,000.

6. Paid Wages 400.

7. Purchase a chair for office use * 3.200.

8. Sold goods to Mohan worth 1,200.

9. Withdrew Cash for Office use 3,000.

10. Sold old furniture 9,000.

11. Received Dividend of 1,000.

12. Paid for Printing bill book * 200.