Question

Q. 3) journalist the following transactions in the books of Nidhi com.
Ltd.
(10)
2019 May
1 Started business with cash Rs. 50,000 Banks Rs. 100,000
3 Paid in to Dena Bank Rs. 40,000
5 Purchased goods from Rudra on crdit Rs. 80,000 at 10% trade
Discount
7 Goods sold on credit to Dhiraj Rs. 20,000 @ 10% TD & 5% CD
10 Paid of LIC premium Rs. 17,000
13 Purchased furniture Rs. 1,80,000 @12% GST.
15 Goods worth Rs. 5,000 distributed as free sample
17 Withdrawn cash from Atm Rs. 5,000 for office use and Rs. 3000
for personal use
19 Received Rent Rs. 500
21 Goods destroy by fire Rs. 10,000​

Answer 1

Answer:yes

Explanation:

Nidi ltd is a company accounts which has real and nominal accounts. So debit all expenses, losses, assets and credit all incomes gains, and liabilities.

Make two columns debit and credit.

Debit column particulars

Cash 50000₹

Bank 100000₹

Credit purchases 72000₹

Payments to Dena 40,000₹

LIC 17000₹

Furniture 180000₹ (taxes included)

Free samples 5000₹

Withdrawals 8000₹

Goods destroyed 10,000₹

Credit column particulars

Credit sales to Dhiraj @ 10% TD but not CD because there is no cash here 18000₹

Rent received 500₹

Sum up the totals and carry forward the difference. All the best