Ravi started business with cash Rs. 2,00,000 2. Paid salary Rs. 50,000 3. Sold Goods to Mr.X Rs. 1,500 4. Paid in advance Rent Rs.3,000 5. Purchase Machinery of Rs.1,50,000 6. Withdrawn for Personal Use Rs.5,000 7. Sold Goods to Kavita For Cash Rs.10,000 8. Purchase from Mr Radhe Rs. 50,000 9. Deposited into Bank Rs. 20,000 10. Paid Wage to Labour By Cheque Rs.3,000
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Answer:
Cash
(Rs)
+
Stock
(Rs)
+
Furniture
(Rs)
=
Creditors
(Rs)
(Rs)
(i)
Started business with cash Rs 1,00,000 and Goods Rs 20,000
1,00,000
+
20,000
=
1,20,000
1,00,000
+
20,000
=
1,20,000
(ii)
Sold goods worth Rs 10,000 for cash Rs 12,000
12,000
– 10,000
=
+
2,000
1,12,000
+
10,000
=
1,22,000
(iii)
Purchased furniture on credit for Rs 30,000
30,000
=
30,000
1,12,000
+
10,000
+
30,000
=
30,000
+
1,22,000
Assets
=
1,12,000 + 10,000 + 30,000
=
Rs
1,52,000
Liabilities
=
Rs
30,000
Capital
=
Rs
1,22,000
Explanation:
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