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Accounting Entries for Amar's Business

The document lists transactions for a business owner named Amar including starting balances, purchases, sales, payments, expenses and depreciation over 15 numbered entries.

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ksharmap47
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8 views1 page

Accounting Entries for Amar's Business

The document lists transactions for a business owner named Amar including starting balances, purchases, sales, payments, expenses and depreciation over 15 numbered entries.

Uploaded by

ksharmap47
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Pass necessary entries in the books of Amar.

1. Amar started business with cash Rs. 40000, Bank Rs. 60000, Goods Rs. 20000, Furniture Rs.
80000.
2. Purchased goods for cash Rs. 10000
3. Purchased goods on credit from Akbar Rs. 15000
4. Sold goods for cash costing Rs. 8000 for Rs.10000
5. Sold goods on credit to Anthony costing Rs. 12000 for Rs. 15000.
6. Cash deposited in the bank Rs. 5000
7. Payment made to Akbar through cheques in full settlement Rs. 14800.
8. Payment received from Anthony in cash Rs. 14900 in full settlement
9. Wages paid in cash Rs. 1000
10. Salaries outstanding Rs. 1500
11. Insurance premium paid in advance Rs. 300
12. Cash withdrawn for personal use Rs. 1200
13. Depreciation on furniture Rs. 800
14. Sale of goods on credit costing Rs. 15000 for Rs. 18000.
15. Rent due to landlord Rs. 2000

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