Tollowing transactions.
1. Nitin invested 50,000 cash and * 5,00,000 by cheque to start a business
2. He deposited 5,000 out of cash in the bank.
3. Purchased goods for 5,000 against cash.
4. Purchased a building and paid * 2,50,000 by cheque.
5. Purchased goods from M/s. Hari & Co. for 1,00,000.
6. Sold goods for cash 50,000.
7. Sold goods on credit to M/s. Ramesh & Co. 25,000.
8. M/s. Ramesh & Co. returned goods of 5,000, being defective.
9. Goods returned by M/s. Ramesh & Co. returned to M/s. Hari & Co. at cost price,
i.e., * 4,000.
10. Paid salary to staff by cheque 15,000.
11. Paid rent for the residence of Nitin 10,000 by cheque.
12. Paid electricity charges for the month 1,000 in cash.
13. Paid telephone charges 500 in cash.
14. Bought office furniture for 25,000 against cheque.
15. Paid M/s. Hari & Co. on account * 50,000 by cheque.
16. Received from M/s. Ramesh & Co. * 15,000 by cheque.
17. Placed order for goods with M/s. Abhi & Sons of 2,00,000; paid them * 20,000 by
cheque as advance, balance to be paid on delivery of goods.
18. Received order for goods from M/s. Ajay & Co. of 3,00,000 along with a cheque
for 7 30,000 as advance, balance to be received against delivery of goods.
Answers
Answer:
1 ●casha/c ...Dr 50,000
To capital a/c
●bank a/c ...Dr 5,00,000
To capital a/c
2 bank a/c ...Dr 5000
To cash a/c
3 purchase a/c ..Dr 5000
To cash a/c
4 Building a/c .. Dr250000
To bank a/c
5 purchase a/c ...Dr 100000
To m/s hari and co.
6 cash a/c ..Dr 50000
To sales a/c
7 m/s ramesh and co. ..Dr 25000
To sales a/c
8 sales return ..Dr 5000
To ramesh and co.
9. m/s hari and co....Dr 4000
To purchase return
10 salary a/c..Dr 15000
To bank a/c
11 rent a/c ...Dr 10000
To bank a/c
12 Electricity expense ..Dr 1000
To cash a/c
13 telephone charges ...Dr 500
To cash a/c
14 office furniture ..Dr 25000
To bank a/c
15 m/s hari and co. ..Dr 50000
To bank a/c
16 bank a/c ....Dr 15000
To ramesh and co