Question

RAJESH COMMENCED BUSINESS ON 1ST MAY 2012, WITH A CAPITAL OF ₹ 1,00,000 . HIS
TRANSACTIONS FOR THE MONTH OF MAY WERE AS FOLLOWS:
2018 MAY
1. OPENED A CURRENT ACCOUNT WITH CANARA BANK ₹ 90,000
2. PURCHASED FURNITURE FROM JANATHA FURNITURE MART AND GAVE A CHEQUE ₹ 2800
BOUGHT MACHINERY FROM IYYAPPA MACHINES LTD ₹ 19,000
4. PURCHASED GOODS FOR CASH ₹ 4000
5. BOUGHT OF ANAND LTD. 5700
6. RETURNED GOODS TO ANAND LTD, ₹ 200
8. GAVE A CHEQUE TO AYYAPPA MACHINES ITD ₹ 10,000
9. PURCHASED GOODS FROM BHEEMA BROS. ₹ 8000
11. CASH SALES TO MANOHAR GOODS WORTH ₹ 4000
RETURNED GOODS TO BEEMA BROS. ₹ 250
12. PAID ANAND LTD, BY CHEQUE ₹ 3100
DISCOUNT ALLOWED BY THEM ₹ 100
RAVI BROS., BOUGHT GOODS ₹ 7400
14. PURCHASED TYPEWRITER FOR OFFICE USE FROM REMINGTON INDIA LTD. ₹ 2,980
15. TOOK FOR PERSONAL USE GOODS WORTH ₹ 500
16. RECEIVED GOODS RETURNED BY RAVI BROS. ₹ 300
PAID INTO BANK ACCOUNT ₹ 5000
RECEIVED FROM RAVI BROS. 4,900
DISCOUNT ALLOWED TO THEM ₹ 180
17. SOLD GOODS TO C. DAVIS ₹ 2750
PAID AYYAPPA MACHINES LTD. BY CHEQUE IN FULL SETTLEMENT ₹ 8800
18. RECEIVED COMMISSION ₹ 370
20. PAID REMINGTON INDIA LTD. ₹ 2900
DISCOUNT ALLOWED BY THEM ₹ 80
23. C.DAVIS RETURNED GOODS ₹ 400
24. RECEIVED FROM C.DAVIS A CHEQUE FOR AND REMITTED THE SAME INTO BANK A/C ₹ 1600
DISCOUNT ALLOWED TO HIM ₹ 50
27. WITHDRAW FOR PERSONAL USE BY CHEQUE ₹ 750
29. PAID SALARIES AND WAGES ₹ 2400
31.PAID RENT FOR THE MONTH ₹ 250​

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