FINANCIAL ACCOUNTING
THEORETICAL FRAMEWORK OF ACCOUNTING
[Link] business with cash Rs.20000 on 1/1/2004
04/1/2004 good was purchased Rs.12000
10/1/2004 Salary paid Rs. 2000
15/1/2004 Commission received Rs.3000
21/1/2004 furniture purchased Rs. 18000
29/1/2004 goods sold Rs. 35000
Solve the above transactions using accounting equation.
2) 1/12/2007 commenced business with cash Rs. 20000
Furniture Rs. 30000
Machinery Rs. 40000
Bank overdraft Rs.16000
05/12/2007 goods purchased Rs.25000
10/12/2007 goods purchased from Raju &co, rs.20000
14/12/2007 salary paid Rs.2000
16/12/2007 electricity bill paid Rs.4000
21/12/2007 goods sold Rs.80000
26/12/2007 cash withdrawn for personal use Rs. 6000
28/12/2007 cash paid to Raju company Rs. 20000
Solve the above transactions using accounting equation.
3) 1/01/2001 commenced business with cash Rs. 20000
Cash 20000
debtors 40000
land and building 70000
motor car 40000
bank loan 20000
02/01/2001 goods purchased Rs.25000
06/01/2001 goods purchased from TATA co., Rs.40000
10/01/2001 Salary paid Rs.5000
12/01/2001 Commission received Rs.6000
19/01/2001 furniture purchased Rs. 16000
25/01/2001 cash withdraw for personal purpose Rs.5000
29/01/2001 cash paid to tata company
Solve the above transactions using accounting equations.
4) 1/12/2004 commenced business with cash Rs. 35000
Stock 40000
Plant and machinery 45000
Motor car 35000
Bank loan 10000
Bank overdraft 15000
04/12/04 goods purchased from Ajay Rs.30000
07/12/04 salary paid Rs.15000
09/12/04 cash deposited into bank Rs.10000
12/12/2004 commission received Rs.15000
16/12/04 electricity bill paid Rs.2000
19/12/04 cash paid to Raju Rs.50000 as loan
24/12/04 machinery purchased Rs.50000 on credit from AB company
28/12/04 cash received from Raju
30/12/04 additional capital introduced Rs. 35000
31/12/2004 cash withdrawn for personal purpose Rs.13000
Solve the above transactions using accounting equation
5) commenced business with cash Rs. 60000
debtors 40000
land and building 55000
motor car 70000
bank loan Rs.10000 on 1/4/05
04/04/04 goods purchased Rs.60000
07/04/04 goods purchased from Akash Rs.25000
09/04/04 commission paid Rs.10000
10/04/04 additional capital introduced Rs. 70000
13/04/04 goods sold Rs.100000
15/04/04 furniture purchased on credit Rs. 20000
19/04/04 cash withdrawn for personal purpose Rs.13000
22/04/04 commission paid Rs.20000
24/04/04 cash received from Mr. Bharath Rs.40000 as loan
27/04/04 purchase of motor car Rs.30000
29/04/04 printing and stationery expenses Rs.2000
30/04/04 loan repaid to Mr. Bharath
Solve the above transactions using accounting equation
6)on 1/01/02 Mr. Ajay commenced business with cash Rs. 20000
debtors 30000
bank loan Rs.10000
furniture 25000
stock 40000
04/01/02 goods purchased from AB Trading company Rs.40000
06/01/02 salary paid Rs 10000
9/1/02 cash deposited into bank Rs.20000
11/1/02 goods sold to XY trading company Rs.60000.
15/1/02 commission received Rs.20000
19/1/02 cash withdrawn for personal purpose Rs.13000
21/1/02 additional capital introduced Rs. 10000
26/1/02 cash paid to AB Company
29/1/02 cash received from XY Company
31/1/02 printing and stationery expenses paid Rs.3000
7) On 1st Jan 2020 commenced business with cash Rs. 40000
Machinery 50000
Motor car 60000
Stock 35000
Bank balance 45000
Bank loan 32000
Bills payable Rs 15000
4/1/20 cash deposited into bank Rs.10000
5/1/20 goods purchased Rs.35000 and paid by cheque
8/1/20 wages paid Rs 10000
10/1/20 salary paid by cheque Rs 4000
12/1/20 goods sold Rs 70000
15/1/20 additional capital introduced Rs. 35000
18/1/20 brokerage received Rs 2000
21/1/20 machinery purchased from TATA company Rs.35000
24/1/20 interest paid by cheque Rs.2000
27/1/20 bank loan repaid Rs 32000
29/1/20 cash withdrawn for personal use Rs 6000
31/1/20 additional capital introduced Rs 60000
8) On 1st Jan 2004 commenced business with cash Rs. 35000
debtors 40000 creditors 25000
Machinery 65000 bills payable 10000
Motor car 45000
Stock 50000
2/11/04 goods purchased Rs.70000 from ab company
4/11/04 salary paid Rs 20000
6/11/04 interest received Rs 10000
10/11/04 machinery purchased Rs.75000
12/11/04 cash deposited into bank Rs.25000
15/11/04 printing expenses paid Rs.5000
17/11/04 goods purchased Rs.35000
19/11/04 goods sold to BPL company LTD Rs.85000.
22/11/04 additional capital introduced Rs.28000
25/11/04 cash withdrawn for personal use 6000
28/11/04 cash received from BPL Company
30/11/04 Salary paid by cheque Rs.15000