Apr. 16 Purchased the running business of Mukesh for ? 5,00,000 paid by proprietor with the following assets and liabilities : Machinery ? \( 2,80,000 \); Furniture ? 2, 10, 000 ; Creditors ? 90,000.
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Journalize the following transactions and prepare the ledger of Cash and Mukesh. April 1: Rohit, the proprietor of the business, invested Rs. 1,00,000 cash and furniture worth Rs. 50,000. April 4: Opened a bank account by depositing Rs. 50,000. April 10: Bought machinery from Mukesh for Rs. 50,000. Paid cartage of Rs. 1,000 and installation charges of Rs. 2,000 in cash. April 15: Purchased goods for Rs. 20,000 and paid carriage of Rs. 500. April 20: Sold goods costing Rs. 10,000 at a profit of 20% on cost. April 25: Goods given away for charity worth Rs. 2,000.
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Prepare accounting equation for the following transactions: 1. Ajay commenced business with cash 40000 and goods 20000. 2. Sold half the goods at a profit of 25% to Ram. 3. Sold half the goods at a loss of 10% for cash. 4. Bought goods from Rakesh Rs. 25000 and paid 90000 in cash. 5. Bought furniture Rs. 7000 for office use and Rs. 3000 for domestic use.
Adi S.
Journalize the following transactions in the books of Rajdeep: April 2 Purchased furniture for cash • 7,000 and on credit • 9000 from Barkha. April 4 Paid wages and rent • 3500 and • 2,000 respectively. April 7 Purchased machinery for • 10,000 from Nitin and gave him a cheque for half of the amount. April 10 Purchased goods from Sawan for • 10,000 for cash and • 15,000 on credit. April 14 Goods lost by fire • 2,000. Insurance Company paid the claim. April 22 Depreciate furniture and machinery by • 1,000 and 1,500 respectively. April 24 Paid carriage on purchases • 500 and on sales • 800. April 28 Paid for stationery • 200, godown rent • 1,000 and staff salaries • 12,500. April 30 Withdrew from bank for personal use • 2,500 and for office use • 3,500.
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