She withdrew Rs. 5,000 by cheque each month for her personal expenses.
Bank loan was serviced and instalments were paid regularly.
1. Journalise the above post into the prepare the Trial Balance.
2. Prepare the Profit and Loss Account and Balance Sheet. Charge depreciation @ 5% on Building and 10% on Furniture. Closing Stock at the end of the year was Rs. 5,50,000.
3. Prepare a Bar Diagram and/or Pie Charts showing the expenses.
(a) Sale of goods (b) Payment of salary (c) Quality of staff (d) Purchase of goods
2 )Which of the following is not an internal user of financial statements?
(a) Board of Directors (b) Managers (c) Employees (d) Lenders
3) Expenditure that gives benefit for more than one accounting period is categorised as
(a) Revenue Expenditure (b) Expense (c) Capital Expenditure (d) None of these
dear experts pls answer this 3 1 mark questions
Thankyou
What is cash book? Explain the types of cash book.
2.Allowance granted to Kishorefor breakage RS.150
3.Allowance granted to Kumar for over charge Rs.70
What will be the journal entry for each transaction?
In which day books these transactions are recorded? Why? pls explain in details
can i get solution book of t.s. grewal's double entry book keeping?
what is imprest system of petty cash book?
Explain how the cashbook with discount and bank column is affected with respect to Bills of Exchange.
Take help of the following transactions if needed-
Thank u so much!
Prepare a Double Column Cash Bank from the following transactions:
Will transactions having trade discount and cash discount be recorded in the double column cash book?why?
2012
April 1:
Assets:Premises rs2,00,000; Delivery Van rs50,000; Fixtures rs5,000; Stock rs75,000
Debtors: Hariharan rs30,000;Rajan rs50,000; Cash at bank rs45,000; Cash in hand rs 15,000
Liabilities:Creditors:Jawahar rs1,00,000; Vikasrs45,000;Telephone Expenses Payable rs4,000; Expenses Payable rs5,000
April 1:Paid rent by cheque rs 5,000
April 2:Goods purchased on credit from prabhat rs15,000;Rajhans rs8,000; passi rs7,000
April 3:Goods sold on credit to rakesh rs17,000;Devender rs5,000;Lalit rs8,000;Vijay rs6,000
April 4:Paid the bill of petrol expenses for delivery van rs5,700
April 5:Cash drawings by rajesh Prabhu rs4,000
April 7:Paid salaries for Month of march,2012 rs7,000
April 9:Cash salesrs5,000
April 11:Goods returned by rakesh rs4,000;Vijay rs1,000
April 12:Recieved cheques from debtors Hariharan rs20,000;Rajan rs40,000
April 16:Goods returned to Prabhat rs4,000;Rajhans rs1,000
April 20:Cheques issued to Creditors:jawahar rs50,000: Vikas rs10,000
April 22 Recieved from Hariharan rs10,000;Rajan rs10,000;Rakesh rs10,000;Devender rs5,000;Cheques recived recieved from rakesh and devender are dated 15th may, 2012
April 24:Cheques from Rakesh and Devender were got discounted from bank paying interest @10%p.a
April 25 Recieved cash from Lalit in full settlement rs 7,800
Please provide Journal, Ledger, Trial Balance, Trading and profit and loss A/c, Balance Sheet and Conclusion????
whatis the treatment of cheque endorsement in cash book????
2. Ram took a loan from Keshav 25000.
3. Sold 40% of the goods at a mark up of 25% on cost for cash.
4. Paid wages 2000.
5. Rent outstanding 3000.
6. Sold remaining goods to Vijay at a profit of 20% on selling price.
7. Interest due on loan 2500
8. Vijay returned 50% of the goods sold to him.
9. Paid to keshav half amount of the loan together with full interest.
What are special purpose subsidiary books?
treatment of reserve fund in trial balance whether debit or credit
what is journal entry and entry in Cash book
JOURNAL ENTRY OF PURCHASE OF TIMBER
journal entry for
purchase goods for Rs60,000 and paid Rs2,000 for carriage
Drew cash for personal use.
then cash should be withdrawn from cash column or bank column.if withdrawn from cash why not bank and vice-versa?
Prepare proper subsidiary books and post them to the ledger from the following transactions for the month of February 2006:
Rs
01
Goods sold to Sachin
5,000
04
Purchase from Kushal Traders
2,480
06
Sold goods to Manish Traders
2,100
07
Sachin returned goods
600
08
Returns to Kushal Traders
280
10
Sold to Mukesh
3,300
14
Purchased from Kunal Traders
5,200
15
Furniture purchased from Tarun
3,200
17
Bought of Naresh
4,060
20
Return to Kunal Traders
200
22
Return inwards from Mukesh
250
24
Purchased goods from Kirit & Co. for list price of
5,700
less 10% trade discount
25
Sold to Shri Chand goods
6,600
less 5% trade discount
26
Sold to Ramesh Brothers
4,000
28
Return outwards to Kirit and Co.
1,000
less 10% trade discount
28
Ramesh Brothers returned goods Rs 500.
Enter the following transaction in the Cash BOok with cash and bank columns:
2011
June 1 Cash in Hand Rs 800 and Bank Overdraft Rs 5700
June 7 Receieved a cheque from Bharati Rs 3250
JUne 9 Deposited above cheque in the bank
June 12 Paid to bhavna by cheque Rs 2425
june 15 Bharti's cheque dishonored
June 20 withdrew from bank for office use Rs 250
june 25 Cheque received from Panna lal Rs 1200
june 28 Panna Lal's cheque was endorsed in favour of kamal
June 30 Income tax paid by cheque Rs 150
June 30 Bank Charges Rs 25
1. Received cheque from Sona and company after discount of Rs.300 and Rs.35,700 in cheque.
give journal entry for the below'
1.brokerage due rs.500
2.purchased cow for business rs.20000
Prepare double column cash book from the following transactions for the year December 2005:
Rs
01
Cash in hand
17,500
Cash at bank
5,000
03
Purchased goods for cash
3,000
05
Received cheque from Jasmeet
10,000
08
Sold goods for cash
7,000
10
Jasmeet’s cheque deposited into bank
12
Purchased goods and paid by cheque
20,000
15
Paid establishment expenses through bank
1,000
18
Cash sales
7,000
20
Deposited into bank
10,000
24
Paid trade expenses
500
27
Received commission by cheque
6,000
29
Paid Rent
2,000
30
Withdrew cash for personal use
1,200
31
Salary paid
6,000
pass necessary journal entries for the following transactions
opening balance for cash in hand rs.20,000.cash at bank rs 30,000.bills receiable rs 40,000. ram's account(debit balance)rs.50,000.shyams account (credit balance)rs.20,000.outstanding expenses rs.20,000
What is difference between trade discount and cash discount?
* MAKE ADJUSTMENTS ALSO ::
1. A FIRE OCCURED ON 4 APRIL AND DESTROYED GOODS VALUED 20000
2.CLOSING STOCK AT MARKET PRICE AS ON 31st march 2015 , rupees 75000 . however its cost was 66000 .
3. outstanding rent : 15000
4. write off bad - debts 56900
5. accrued commission is 7400 . CGST and SGST @ 6 % each
(experts please give the answers with same numbers which is provided in question don’t change the numbers and don’t provide any link.)
( kindly answer this question as soon as possible )
Bank loan and interest repaid in the first year are as follows:
June 30, 2016 = (Rs. 15,000 + Rs. 9,000) interest)
Sept. 30, 2016 = (Rs. 15,000 + Rs. 8,550) interest)
Dec. 31, 2016 = (Rs. 15,000 + Rs. 8,100) interest)
March 31, 2017 = (Rs. 15,000 + Rs. 7,650) interest)
She started business on 1st April. 2016. In view of further capital requirement She transferred Rs. 1,00,000 from her Savings to the Bank Account to the Bank Acoount Of the business. She paid Security Deposit of Rs. 5,000 for the connection with BSES Rajdhani Power Ltd and Rs. 2,000 to MTNL for telephone connection. Furniture for Rs. 10,000 was purchased.
All payments were be made by cheque. All the receipts were in cash to be deposited in the bank on the same day. At the end of the year, their results showed the following:
She withdrew Rs. 5,000 by cheque each month for her personal expenses.
Bank loan was serviced and instalments were paid regularly.
1. Journalise the above post into the prepare the Trial Balance.
2. Prepare the Profit and Loss Account and Balance Sheet. Charge depreciation @ 5% on Building and 10% on Furniture. Closing Stock at the end of the year was Rs. 5,50,000.
3. Prepare a Bar Diagram and/or Pie Charts showing the expenses.
why contra enteries r not posted in the ledger ?
full form of
a. l . f.
b. g. f.
what is a petty cash book? what are the rules for entering the transactions in it?
loan taken and bank overdraft are not cash transactions, then why are they recorded in cash book..??
Cash sales Rs.80,000 ,credit sales Rs.3,30,000 ; sales return Rs.10,000 ;purchases Rs.2,48,000 ; purshases return Rs.8,000 ; carriage inwards Rs.16,000 ; closing stock Rs.72,000 ; rate of gross profit is 40% on sales.
15. Received Rs.530 by cheque from Krishna and allowed him discount Rs.20
16. Paid cheque to Mohan Rs.400 in full settlement of his account Rs.415
18. Cash sales amounted to Rs.150
20. Bought furniture for Rs.300, paid by cheque.
22. Bank credited the account with Rs.200 for interest
25. Received a cheque for Rs.250 from Suresh and allowed him discount Rs.10
Enter the following transactions in the cash book with cash and bank column
1st jan 2012-cash in hand-4000
cash at bank-12000
4th jan 2012-Sold goods for cash-13200
5th jan 2012-recieved from suresh-2500
6th jan 2012-recieved a cheque from ravi and immediatly depsited into bank-6400(please state the transaction for this)
7th jan 2012-salaries paid by cheque
10th jan 2012-paid sudhir by cheque-5000
12 jan 2012-paid for travelling expenses-120015th jan 2010-cash purchases
16 jan 2012-cash deposited into bank-10000
20th jan 2012-cash sales-15100
purchased machinery and payment made by cheque-6800
21 jan 2012-paid wages for installation of machinery-400
22jan 2012-withdrew from bank for office use-7500
23rd jan 2012-recieved a cheque from anil and deposited it into bank-4600
27th jan 2012-anil's cheque dishonored by bank-4600
28 jan 2012-purchased typewriter and payment made by cheque-8000
30 jan 2012-paid salary-120
31 jan 2012-paid into bank-1200
Prepare a double column cash book with the help of following information for December 2005 :
Rs
01
Started business with cash
1,20,000
03
Cash paid into bank
50,000
05
Purchased goods from Sushmita
20,000
06
Sold goods to Dinker and received a cheque
20,000
10
Paid to Sushmita cash
20,000
14
Cheque received on December 06, 2005 deposited into bank
18
Sold goods to Rani
12,000
20
Cartage paid in cash
500
22
Received cash from Rani
12,000
27
Commission received
5,000
30
Drew cash for personal use
2,000
What is petty cash book? Write the advantages of petty cash book?
Q. record the following tranctions in a suitable cash book of Mr. gupta and show the closing balances of cash and bana:
1. balance of cash Rs.50, bank Rs.3800
2. received from raman Rs. 900 and allowed him discount Rs. 50
3. sold goods for cash Rs.5000 and paid half the amount into bank
4. Paid salaries Rs. 2500 in cash
5. Recovered from the manager Rs. 200 being excess travelling allowances drawn by him
6. settled a debt of Rs.1200 by cheque receiving a discount of 5%
7. drew Rs. 500 from bank and paid a donation to the worker's club
8. discounted a 3 months maturity bill receivable for Rs.1000 at 6% discount
in Ts grewal chapter cash book page 9.43 question 15, very confused...we we record endorse and cheque received from panna lal in journal or cash book....On meritnation textbook solution, it records both in cash book...so confused?
Enter the following transactions in double column cash book of M/s Ambica Traders for November 2005:
Rs
01
Commenced business with cash
50,000
03
Opened bank account with ICICI
30,000
05
Purchased goods for cash
10,000
10
Purchased office machine for cash
5,000
15
Sales goods on credit from Rohan and received cheque
7,000
18
Cash sales
8,000
20
Rohan’s cheque deposited into bank
22
Paid cartage by cheque
500
25
Cash withdrawn for personal use
2,000
30
Paid rent by cheque
1,000
I understood A but I can't B why it is happened explain me this in easy way
Fast !!!!!!
what is contra entry for cheque dishonour and office use ................plz reply urgently
Write the difference between return inwards and return outwards.
What is the Journal Entry for Recieved Cheque from Priya 3250?
And how to post it in the cash book.
Ans....Fastzzzz....
What is contra entry? How can you deal this entry while preparing double column cash book?
is trade discount recorded in cash book..??
Journalise the following and prepare a double column cash book :
2011
Oct,1 cash in hand = 1800
Overdraft at bank = 10000
Oct,5 discounted a bill of exchange at 1% through bank = 4000
Oct,6 Goods sold to Mr.Manish = 50000
Oct,10 Recieved two cheques from Amrita amounting Rs.5000. Which is crossed and other is bearer amounting = 3000
Oct,15 Bearer cheque of Amrita is endorsed to Mr.Nilesh in full settlement of Rs.3100
Oct,20 Crossed cheque of Amrita is returned dishonoured bu the bank. Also the bank has debited our account with Rs.50 for charges.
Oct,24 Recieved repayment of a loan of Rs.5000 and deposited Rs.3000 out it into bank.
Oct,28 Drawn from bank of personal expenses Rs.200 and for office use Rs.300
Oct,31 Banked all cash keeping a balance of Rs.400 only in hand.
1.1000 due from rohitare now a bad ded debts
jan 1 cash in hand -5000
jan 1 bank overdraft -1000
jan 2 paid wages -1500
jan 3 deposited into bank -2000
jan 4 cash sales -7500
jan 5 sold goods for cheque which was deposited in bank on the same day -5000
jan 7 drew from bank for personal use -1000
jan 8 paid to hari on account -3500
jan 9 received from ram who owes Rs.5000,Rs.2000 only on account
What is the purpose of contra entry?
Q12. A book keeper prepared a trial balance on 31st march, 2013, which showed a difference of Rs. 2,715. The difference was placed to debit of a suspense A/c. The under mentioned error were subsequently discovered :-
a. Rs. 710, the total of sales return book has been posted to the credit of the purchases return account.
b. An item of Rs. 626 written off as a bad-debt from Chanderkant has not been debited to Bad debts account.
c. Goods sold to X and Y for Rs. 1,600 and Rs. 1,200 respectively, but were recorded in the sales book as to X Rs. 1,200 and Y as Rs. 1,600.
d. Goods of Rs. 850 were returned to Bhardwaj. It was recorded in purchases book as Rs. 580.
e. An amount of Rs. 675 for a credit sale to Govind, although correctly entered in the sales book has been wrongly posted as Rs. 756.
f. A sum of Rs. 750 spent on the repairs of an old machinery has been debited to 'Repairs A/c'.
Briefly state how the cash book is both journal and a ledger?
QUE 1 pass the journal entries of M/s. Bhanu Traders.Post them to the Ledger from the following transactions:
what is the difference betweeen cash book and ledger entry of cash account
2018
Dec
. 1 Purchased from M/s Rajani Traders:
50 Shirts @ ₹ 800 per shirt
25 Pants @ ₹ 1,000 per pant
Less: Trade Discount 10%
” 5 Purchased from M/s Bombay Fashions:
20 Belts @ ₹ 500 per belt
10 Ties @ ₹ 400 per tie
Less: Trade Discount 5%
” 8 Goods returned to M/s Rajani Traders:
5 Shirts @ ₹ 800 per shirt
2 Pants @ ₹ 1,000 per pant
Less: Trade Discount 10%
” 13 Purchased from M/s Zayani Fashions:
20 Sweaters @ ₹ 1,500 per sweater
25 Blanket @ ₹ 800 per blanket
” 18 Goods returned to M/s Bombay Factions:
2 Belts @ ₹ 500 per belt
1 Tie @ ₹ 400 per tie
Less: Trade Discount 5%
” 22 Goods purchased from M/s Jaipur Fashions:
10 Pair of Shoes @ ₹ 2,000 per shoe
5 Fancy Hats @ ₹ 200 per piece
Less: Trade Discount 5%
” 30 Following goods were returned to M/s Zayani Fashions:
1 Sweater and 2 Blankets
Experts what is the answer of this question
Define the purpose of maintaining subsidiary journal.