The transactions of Shri Amar for March, 2009 are as follows. Record them through journal, post them and find out the balances of accounts: March 1 : Purchased goods worth Rs. 2,000 from Babu at a trade discount of 10% and cash discount of 5% and paid for it by cheque. 2: Paid for life insurance premium Rs. 200 and fire insurance premium Rs. 100 by cheque 3: Salesman sold goods for Rs. 750 from which he deducted travelling expenses Rs. 25 and sent the balance in cash. 4 : Paid a hospital bill Rs. 300 for wife's sickness. 5 : Dhanu sent goods of Rs. 300 to Panu on our instruction and we sent an invoice of Rs. 350 to Panu. 6: Kanu gave 7: Kanu's cheque is paid into the bank. us a cheque of Rs. 790 towards our dues of Rs. 800. 9 : Gave goods of Rs. 100 and cash Rs. 50 to Draught Relief Fund. .. 10 : Purchased a cupboard for Rs. 350 and in exchange gave goods costing Rs. 300. 12 : Goods of Rs. 250 was burnt by fire, for which the insurance company accepted a claim of Rs. 225 and gave a crossed cheque for the amount .. 15 : Sold a moped for Rs. 7.000 and invested Rs. 3.000 out of it in business. .. 18 : Received commission of Rs. 100 from Kaku for selling his goods as his agent. .. 22 : Last year Damu was declared insolvent and Rs. 100 due from him was written off as bad debts, which was received today. 27 : Distributed goods of Rs. 50 as sample and paid rent for slide advertisement to Bhanu Theatres Rs. 50.
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Answer:
as follows. Record them through journal, post them and find out the balances of accounts: March 1 : Purchased goods worth Rs. 2,000 from Babu at a trade discount of 10% and cash discount of 5% and paid for it by cheque. 2: Paid for life insurance premium Rs. 200 and fire insurance premium Rs. 100 by cheque 3: Salesman sold goods for Rs. 750 from which he deducted travelling expenses Rs. 25 and sent the balance in cash. 4 : Paid a hospital bill Rs. 300 for wife's sickness. 5 : Dhanu sent goods of Rs. 300 to Panu on our instruction and we sent an invoice of Rs. 350 to Panu. 6: Kanu gave 7: Kanu's cheque is paid into the bank. us a cheque of Rs. 790 towards our dues of Rs. 800. 9 : Gave goods of Rs. 100 and cash Rs. 50 to Draught Relief Fund. .. 10 : Purchased a cupboard for Rs. 350 and in exchange gave goods costing Rs. 300. 12 : Goods of Rs. 250 was burnt by fire, for which the insurance company accepted a claim of Rs. 225 and gave a crossed cheque for the amount .. 15 : Sold a moped for Rs. 7.000 and invested Rs. 3.000 out of it in business. .. 18 : Received commission of Rs. 100 from Kaku for selling his goods as his agent. .. 22 : Last year Damu was declared insolvent and Rs. 100 due from him was written off as bad debts, which was received today. 27 : Distributed goods of Rs. 50 as sample and paid rent for slide advertisement to Bhanu Theatres Rs. 50.
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Explanation:
them and find out the balances of accounts: March 1 : Purchased goods worth Rs. 2,000 from Babu at a trade discount of 10% and cash discount of 5% and paid for it by cheque. 2: Paid for life insurance premium Rs. 200 and fire insurance premium Rs. 100 by cheque 3: Salesman sold goods for Rs. 750 from which he deducted travelling expenses Rs. 25 and sent the balance in cash. 4 : Paid a hospital bill Rs. 300 for wife's sickness. 5 : Dhanu sent goods of Rs. 300 to Panu on our instruction and we sent an invoice of Rs. 350 to Panu. 6: Kanu gave 7: Kanu's cheque is paid into the bank. us a cheque of Rs. 790 towards our dues of Rs. 800. 9 : Gave goods of Rs. 100 and cash Rs. 50 to Draught Relief Fund. .. 10 : Purchased a cupboard for Rs. 350 and in exchange gave goods costing Rs. 300. 12 : Goods of Rs. 250 was burnt by fire, for which the insurance company accepted a claim of Rs. 225 and gave a crossed cheque for the amount .. 15 : Sold a moped for Rs. 7.000 and invested Rs. 3.000 out of it in business. .. 18 : Received commission of Rs. 100 from Kaku for selling his goods as his agent. .. 22 : Last year Damu was declared insolvent and Rs. 100 due from him was written off as bad debts, which was received today. 27 : Distributed goods of Rs. 50 as sample and paid rent for slide advertisement to Bhanu Theatres Rs. 50.
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