Question

Project 10
Agarwal & Company made following transactions in March, 2016. You are required
to write the following transactions in journal, ledger and prepare Trial Balance & Final
Accounts:
(1) Started business with cash * 2,000, Bank * 20,000.
(2) Issued cheque for goods purchased * 1,000.
(3) Bought goods for cash 8,000.
(4) Bought furniture from Anil for cash * 100.
(5) Bought goods from Harish * 1,500.
(6) Bought goods from Chandan on credit 5,800.
(7) Returned damaged goods to Chandan 800.
(8) Sold goods to Gupta 1,000.
(9) Received a cheque from Gupta 1,000 for goods sold.
(10) Paid commission 2,000.
(11) Paid wages by cheque 4,000.
(12) Draw cheque for personal use 4,000.
(13) Borrow loan from Anand 1,000.
(14) Paid Anand's Loan with interest * 1,000.​

Answer 1

Answer:

business with cash * 2,000, Bank * 20,000.

(2) Issued cheque for goods purchased * 1,000.

(3) Bought goods for cash 8,000.

(4) Bought furniture from Anil for cash * 100.

(5) Bought goods from Harish * 1,500.

(6) Bought goods from Chandan on credit 5,800.

(7) Returned damaged goods to Chandan 800.

(8) Sold goods to Gupta 1,000.

(9) Received a cheque from Gupta 1,000 for goods sold.

(10) Paid commission 2,000.

(11) Paid wages by cheque 4,000.

(12) Draw cheque for personal use 4,000.

(13) Borrow loan from Anand 1,000.

(14) Paid Anand's Loan with interest * 1,00

Answer 2

Answer:

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Explanation:

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