Q.3: Prepare Simple cash book of Mr. Deshmukh for the month of April 2010.
(05)
1. Started business with cash Rs. 50,000/-
2, Purchase goods for cash Rs. 25,000/-
3, Sold goods or cash Rs. 5,000/-
4, Paid salary Rs. 15,000/-
5, Paid office rent Rs. 4,000/-
6, Received commission Rs. 2,000/-
7. Deposited cash in bank of india Rs. 10,000/-
8, Withdrew cash Rs. 3,000/- for personal use.
9, Cash sales Rs. 500/- *
10. Cash purchase Rs 1 500/
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Answer:
Question 1:
What will be effect of the following on the Accounting Equation?
(i) Started business with cash ₹ 45,000
(ii) Opened a Bank Account with a deposit of ₹ 4,500
(iii) Bought goods from M\s. Sun & Co. for ₹ 11,200
Answer:
S. No.
Transactions
Assets
=
Liabilities
+
Capital
Cash
(Rs)
+
Bank
(Rs)
+
Stock
(Rs)
=
Creditors
(Rs)
(Rs)
(i)
Started business with cash
45,000
45,000
45,000
45,000
(ii)
Opened a Bank Account with a deposit
– 4,500
+
4,500
40,500
+
4,500
45,000
(iii)
Bought goods from M/s. Sun & Co.
11,200
11,200
40,500
+
4,500
+
11,200
=
11,200
45,000
Total Assets
Cash + Bank + Stock
40,500 + 4,500 + 11,200
Rs
56,200
Liabilities
=
11,200
Capital
=
45,000
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