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.
Prepare a Double Column Cash Bank from the following transactions:
What is cash book? Explain the types of cash book.
(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
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!
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
2007
Jan 1 Cash in Hand
Cash at Bank
5 Received a cheque from Naresh
8 Cheque Received from Naresh endorsed to Suresh in full settlement of his account of Rs 1,050
10 Paid Life insurance premium of Mr.Mohan
13 Received a cheque from Pawan in full settlement of his account of Rs 750
16 Pawan's cheque returned dishonoured by bank
20 Deposited into Bank, balance of cash in excess of Rs 250
[Chandigarh 2008]
[Ans . cash balance Rs 250, Bank balance Rs 6,850 ;Discount Dr.Rs 50:Discount Cr Rs Nil]
whatis the treatment of cheque endorsement in cash book????
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'.
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????
for the month of December, 2011 in the Books of Neel.
2011
Dec. 1 Cash in hand Rs. 2,780; Bank overdraft Rs. 3,125.
Dec. 2 Cheque worth Rs. 400 issued to petty cashier.
Dec. 5 Rs. 350 was paid to Hari & Sons for the supply of stationery on this day.
Dec. 7 Received a cheque worth Rs. 600 from Pramod against sale of goods.
Dec. 10 Received Rs. 1,200 from sale of goods.
Dec. 11 The cheque which was received from Pramod on 7th December, 2011 was
endorsed in favour of Martin together with Rs. 1,400 in cash.
Dec. 26 Bought goods worth Rs. 1,700 from Rustom and paid by cheque after
receiving a discount of Rs. 170.
Dec. 30 Interest on overdraft Rs. 50 was charged by the bank.
What are special purpose subsidiary books?
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
treatment of reserve fund in trial balance whether debit or credit
JOURNAL ENTRY OF PURCHASE OF TIMBER
Prepare a Double Column Cash Book from the following transactions:-2011
April 1 Cash in Hand Rs. 5,000; Overdraft at bank Rs. 15,000.
April 3 Further Capital introduced Rs. 20,000 out of which Rs. 16,000 deposited in the bank.
April 5 Sold goods for cash Rs. 13,000.
April 6 Settled the account of Mohan Rs. 750 by paying cash Rs. 680.
April 10 An amount of Rs. 500 due from Gupta Brothers written off as bad debts in the previous year, now recovered.
April 11 Received a cheque for Rs. 700 from Anil; endorsed to Rahul on 19th April.
April 13 Purchased goods from Manmohan Rs. 10,000.
April 15 Shyam who owed Rs. 400 became bankrupt and paid 60 paise in a rupee.
April 16 Cash purchases Rs. 800 less trade discount 5%.
April 18 Received cheque from Rakesh Rs. 3,450. Allowed him discount Rs. 100.
April 19 Withdrew for office use Rs. 2,000.
April 20 Purchased postage stamps Rs. 50.
April 21 Paid for office furniture Rs. 500.
April 22 Purchased typewriter for Rs. 1,500
April 23 Paid for furniture repair Rs. 150.
April 24 Purchased a mobile for personal use Rs. 4,000.
April 25 Paid for V.P.P of goods from Luckhnow Rs. 275.
April 26 Sent money order to Lakshman Rs. 250.
April 27 Money order commission Rs. 10.
April 28 Received from Ram, who owes Rs. 4,000, Rs. 1,500 only on account.
April 29 Interest allowed by bank Rs. 200.
April 29 Income tax paid by cheque Rs. 1,500.
April 29 Recovered from the Manager Rs. 200 being excess travelling allowance drawn by him.
April 29 Settled a debt of Rs. 1,200 by cheque receiving a discount of 5%.
April 29 Purchased 50 bonds for Rs. 100 each at Rs. 95 each and paid for them by cheque.
April 30 Received a money order Rs. 500. Received Rs. 2,000 for a Bill of Exchange from Hari Ram and deposited the same into bank. Paid Rs. 5,000 on account of repayment of loan from Bank including Rs.1,000 as interest on Loan. Sold goods for Rs. 12,500, received cheque for them, discount allowed 1%. Deposited with the bank the entire balance after retaining Rs. 1,000 at office.
journal entry for
purchase goods for Rs60,000 and paid Rs2,000 for carriage
what is journal entry and entry in Cash book
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
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
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 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.)
Will transactions having trade discount and cash discount be recorded in the double column cash book?why?
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 ?
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.
what is a petty cash book? what are the rules for entering the transactions in it?
2014
april 1 Assets: cash in hand 860
cash in bank 140
leasehold premises 12000
machinery 6000
due from meetu 1460
due from pooja 3540
furniture 2000
Liabilities:loan 2000
due to rakesh 1500
april 2 purchased goods from Ajay 4500
april 3 goods sold 3000
april 4 purchased goods 3700
april 6 purchased goods from ram 7000
april 6 sold goods for cash 3000
april 8 paid for cash purchases 4950
discount allowed to mr. bajaj 50
april 11 received cheque from anil on account 3000
april 16 meetu paid by cheque in full settlement 1400
april 24 drawn from bank for personal use 450
april 30 allowed interest on capital @ 5% p.a. 450
from 1st may 2000 to 30th april 2014
april 30 salaries for the month of april unpaid 750
april 30 rent for the month of april unpaid 250
Prepare Double column Cash Book for the following transactions:
1) Dividend collected by bank- 1,200
(And please explain the meaning of 'Dividend' here.)
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.
Q.27. From the following transactions, prepare Double Column Cash Book.
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
plz make it urgent
need it badly
2011
Jan 1 Sold goods to Ramesh Rs 525
1 Bought of Hari Ram Rs 780
2 Ramesh returned goods Rs 75
2 Sold to Dina Nath Rs 550
2 Purchased goods from Mangal Rs 700
4 Returned goods to Mangal Rs 100
4 Bought of Devi Dayal Rs 325
4 Sold to Zakir Hussain Rs 350
5 Zakir Hussain returned goods Rs 45
6 Sold to Ram Saran Rs 500
6 Sold to Ghanshyam Rs 300
7 Ram Saran returned goods Rs 50
7 Bought of Devi Dayal Rs 700
8 Returned goods to Devi Dayal
9 Purchased goods from Raghunath
subject to a trade discount of 10
percent Rs 75
10 Sold to Raja Ram goods subject to
trade discount of 5 percent Rs 1,000
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?
plz make it urgent
need it badly
2011
Jan 1 Sold goods to Ramesh Rs 525
1 Bought of Hari Ram Rs 780
2 Rameshreturned goods Rs 75
2 Sold to Dina Nath Rs 550
2 Purchased goods from Mangal Rs 700
4 Returned goods to Mangal Rs 100
4 Bought of Devi Dayal Rs 325
4 Sold to Zakir Hussain Rs 350
5 ZakirHussain returned goods Rs 45
6 Sold to Ram Saran Rs 500
6 Sold to Ghanshyam Rs 300
7 Ram Saran returned goods Rs 50
7 Bought of Devi Dayal Rs 700
8 Returned goods to Devi Dayal Rs 75
9 Purchased goods from Raghunath
subject to a trade discount of 10
percent Rs 1,000
10 Sold to Raja Ram goods subject to
trade discount of 5 percent Rs 500
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
what is contra entry for cheque dishonour and office use ................plz reply urgently
Write the difference between return inwards and return outwards.
Justify your answer
Cash voucher is prepared at the time of receipt of payment of cash or cheque
What is contra entry? How can you deal this entry while preparing double column cash book?
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?
1. Started business with Cash Rs. 20,000 ; Furniture Rs. 10,000 and stock Rs. 20,000
2. Placed an order for the supply of goods with Ram & Co. Rs. 10,000
4. Purchased of goods for cash worth Rs. 5000 at 10% Trade Discount
5. Borrowed from Jagat Seth @ 10% p.a. Rs. 1,000
8. Paid Income Tax and life insurance premium Rs. 2,000
10. Opened a bank account Rs. 2,000
12. Sold a goods @ 5% trade discount Rs. 2,000
15. Prem sold goods to us worth Rs. 5,000 and paid Rs. 50 on our behalf .
16. Distributed goods as free sample worth Rs. 500
18. Purchased scooter for personal use of proprietor Rs. 12,000
20. Further capital introduced by the proprietor Rs. 5,000
I dont want journal pls
Only ledger and trial balance
What is the purpose of contra entry?
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:
(1) Received cheque from Deepak Rs.5000
(2) Sold goods on credit to Ashok Mitra Ra.4000
(3) Purchased goods on credit from Chander Rs.5000
what is the difference betweeen cash book and ledger entry of cash account
Icantfigure out this type.........plzhelpurgntly
Enter the following transactions in Journal and post them to Ledger accounts
- . R.Chetanhas the followingbalancesinhis books on31stMarch 2012.
April.1 Cash sales 1925 April.2 Purchased Machinery by Cheque 4675 April.3 Paid salaries by cheque 2750 April.5 Paid wages in cash 440 April.6 Rajeshsettled his account by Cheque less 5% discount April.8 Sold goods on credit tojames 4125 April.10 Sent a credit note to James Rs.1,100 for goods returned April.12 PaidRaoby cheque 1650 April.13 Received Loan from Bank OfBaroda 13750 April.19 With drawn from bank for private use 825 April.21 Bought goods on credit from Samantha 2475 April.21 Paid corporation Tax by cheque 1155 April.28 Bought goods on credit from Samantha 2805 April.29 Cash sales and paid into bank 3740Cash in HandRs. 1540: Cash at Bank Rs.8250; Stock Rs.19250; Plant & machineryRs. 44000.
Sundry Debtors:RajeshRs.2750, JamesRs. 1375;
Sundry Creditors ;RaoRs.1925, Samantha Rs.3575; CapitalRs. 71665.
Adjustments at the end of the month were;
Prepare a double Column Cash Book from the following transactions of Mr.Shiv Kumar of Chandigarh.
2011
April 1 Commenced business with cash Rs. 1,50,000.
April 1 Purchased furniture for Rs. 20,000.
April 2 Deposited Rs. 70,000 in the newly opened Bank Account.
April 3 Purchased goods from Mohan worth Rs. 15,000.
April 5 Purchased goods from Gopal worth Rs. 20,000 at 10% Trade Discount and 5% Cash Discount.
April 6 Sold goods to Mahesh for Rs. 5,000.
April 7 Sold goods to Rachit for Rs. 10,000.
April 8 Received cheque from Mahesh. Allowed him Cash discount @ 5%.
April 9 Withdrew Rs. 30,000 from the bank out of which Rs. 12,000 were used to pay domestic expenses.
April 10 Received a B/R from Rachit.
April 11 Mahesh’s cheque deposited in the bank.
April 12 Paid Rs. 5,000 as Donation to a Blind School.
April 13 Rachit’s B/R discounted through bank at a discount of 10%.
April 14 Mahesh’s cheque returned dishonoured.
April 15 Paid cheque to Mohan after deducting a cash discount of 5%.
April 16 Paid to cleaner in cash Rs. 600.
April 17 Loan given to Rajesh Rs. 10,000.
Define the purpose of maintaining subsidiary journal.