Question

Record the following transactions of Keshav Bros. in the proper books
2020
Jan. 1
Assets : Cash in hand 8.500. Cash at Bank
1.40.000; Stock of goods 2.20.000: Due from
Manohar Lal 30,000 and Deep Chand24,000
Furniture and Equipment 3,00.000
Liabilities : Due to Sunil 15.000
2 Withdrawn from bank 20.000
4 Paid salaries * 22,000.
6 Sold goods to Surya Narain
60 meters silk @ 150 per meter
100 meters cotton a 70 per meter
Less Trade Discount a 12
8 Surya Narain returned 40 meters Cotton
9 Received full payment from Manohar Lal by cheque.
sent it to bank, Discount allowed 3%
10 Purchased from Ganga Parshad
300 meters cotton @ 60 per meter
500 meters silk a 120
per meter
Less Trade Discount 10%.
12 Sold goods to Vinita for cash 16,000.
13 Accepted a bill for 25,000 for 30 days drawn by
Ganga Parshad
15 Gave cheque to Ganga Parshad for 45,000, discount
allowed by him 200
18 Paid to Sunil 14.850 after receiving discount of 1%.
20 Mr. Keshav Chand took away 5 meters silk costing
100 per meter for his personal use.
24 Paid rent by cheque 2,000
25 Received from Surya Narain 11,000 in full
settlement of his account.
27 Old newspapers sold for cash 400
27 Paid for stationery and postage 500
28 Sold 400 meters silk @ 160 per meter to Sh.
Ganesh Chand
31 Received cash40.000 from Sh. Ganesh Chand and
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Answer 1

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Answer 2

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