20,000 (g) Rent paid: Rs. 1,00,000 were stolen from the Iron Safe of the trader. transactions:-a)ram started business with cash Rs.25000. Solution: >> Understanding Chart of Accounts is required… Problem 3: On March 2017, Farhan Rahim, starts wholesaling business. 1540 and allowed him discount Rs. Rs. Goods purchased from Ganesh Traders of Rs. Half the payment received in cash. Transaction 4. 5. Started business with cash rs 80,000 and goods rs 70,000. (ii) Purchased goods for cash ₹ 30,000 and on credit from Karan ₹ 20,000. 300 5-1-2009. AmountCr. Started business with cash Rs.75,000 and goods Rs. Following transactions as follows: 1. 1600 5. On 31st March, 2018 his assets were ₹ 75,000. 900)\ne) Purchased a vehicle (cash) for Rs. (i) Ram started business with Rs. 1 - Business started with cash 8,000 and plant & machinery 3,000. 2009 Rs. Features. The company started business on June 6, 2013. 03 Jan 02 Paid for furniture Rs. Find out his capital as on 31st March, 2018 and profit made or loss incurred during the year 2017-18. 15,000 through cheque. Bought goods from Ram on Credit 5.000 5. 25,000. Business started with cash: 1,75,000 (b) Purchased goods from Rohit 50,000 (c) Sales goods on credit to Manish (Costing Rs 17,500) 20,000 (d) Purchased furniture for office use : 10,000 (e) Cash paid to Rohit in full settlement: 48,500 (f) Cash received from Manish: 20,000 (g) Rent paid: 1,000 (h) Cash withdrew for personal use: 3,000: The solution is as follows: S.No. Pages 27 This preview shows page 17 - 27 out of 27 pages. 10,000 (e) Cash paid to Rohit in full settlement: Rs. 04 Jan 03 Paid for vehicle Rs. Withdrawn from bank 10.000 27,500 received in Cash. Started business with cash Rs 75,000 and goods Rs 25,000. Purchase goods … Bought goods from Manohar Rs. menu myCBSEguide. 60,000. Bought goods for cash ₹80,000 and on credit for ₹40,000. 1,800 on credit. A trader recorded below transactions:\na) Started business with cash Rs. 6 Prepare Accounting Equation 1. Paid Cash into Bank 25,000 10. Purchased furniture from Rajan Rs. 4 - Salaries paid 200,000 but due 110,000. Q.26 Prepare Accounting Equation from the following - (1) Raghu started business with cash Rs 1,50,000 (ii) Bought goods for cash Rs 80,000 and on credit Rs 40,000 Goods costing Rs 75,000 sold at a profit of 331/3% Half the payment received in cash. 1, 30,000. Gopinath started business with cash 25,000 (ii) Purchased goods from Shyam: 10,000 (iii) Sold goods to Sohan costing ₹ 1,800: 1,500 (iv) Gopinath withdrew from business 5,000: The solution for this question is as follows: Here, Liabilities = 10,000. Bought goods for cash Rs 30,000 and credit Rs 44,000 He started business with capital of Rs. Paid Salary Rs 500. 50,000 (c) Sales goods on credit to Manish (Costing Rs. Ltd. Of Rs. 1 Shyam Sunder & Sons started a business with Cash Rs. 40,0000, Citizen Bank Balance Rs. show the accounting equation on the foll. 3000 6. 25,000 (ii) Purchased goods on credit from Shyam Rs. CBSE ICSE & ISC UP Board Uttarakhand Board Teacher Exams Entrance Exam Competitive Exams. Reply. 30000\nb) Purchased securities (in cash) in Rs. 1. Prepare Accounting Equation from the following : - 1. 60 8. Bought goods for cash 20,000 4. 5,000. 2000 7. On 31 st March 2015 his assets were Rs.75,000. 3400 11. 3. This will create a profit of 4,000 – 5,000/2 = $1,500. Paid rent of Rs.2,000. (iii) Goods costing ₹ 40,000 were sold for ₹ 55,000. 15,000 3-1-2009. June 9: Equipment costing $100,000 was purchased using $40,000 cash. Bought furniture 25,000 3. Paid Manohar Rs. 25,000 cash and signs a note for the balance. The profit is owed to the owners and is a liability of the business … In our long list of business concepts, there are businesses for any skill set, budget and interest. June 1 Cash A/c To Capital A/c(Cash brought into the business by Mohan as capital) 80,000 80,000 June 2 Purchase A/c To Cash A/c(Goods purchased for cash) 2,00,000 2,00,000 June 4 Purchase A/c To Amar A/c(goods … Rs. ... pays Rs. 25,000. Solution 20: Point of Knowledge:-1. 05 Jan 05 Bought goods on credit from Mr. A for Rs. Purchase Goods for Cash Rs. Accounting equation question 1. 02 Jan 01 Opened a bank account and deposited Rs. Bought goods for cash Rs. 5,00,000, Nabil Bank Balance Rs. 2. Sold goods to Sam on credit 8,000 7. 50,000. Sold goods to Ramesh Rs. Mohan started business with cash rs 80000 journal entry Ledger and trial balance 2 See answers mahek1175 mahek1175 DateParticulars L.F. AmountDr. You can start this business with a low investment of approximately Rs 25,000-Rs 50,000. Sold goods to Dynamic Traders Pvt. Correct answers: 3 question: Prepare Accounting Equation from the following and also prepare a Balance Sheet:- 1. Raghu started business with Cash ₹1,50,000. Find out his capital as on 31st March, 2018 and profit made or loss incurred during the year 2017-18. 1,75,000 (b) Purchased goods from Rohit: Rs. Business started with cash: 1,25,000 (b) Purchased goods for cash: 50,000 (c) Purchase furniture from R.K. Furniture: 10,000 (d) Sold goods to Parul Traders (costing Rs 7,000 vide bill no. Replies. (ii) Sold goods for cash costing 10,000 and on credit costing 15,000 both at a profit of 20%. 3. 75,000; Goods Rs. 25,000 2-1-2009. 75,000 and goods Rs. 2. 2. withdrew cash for personal use rs 20,000. During 2014-15 he had introduced additional capital of Rs.12,500 and had withdrew Rs.7,500 for personal use. Sold goods for cash for 15.000 6. Goods costing ₹10,000 sold for ₹12,000 on credit. Click hereto get an answer to your question ️ 1. 44,000. Bought goods for cash Rs. (i) Started business with cash ₹ 50,000 and goods ₹ 30,000. 5. face Login how_to_reg Register Started … Sold goods to Charanjeet Rs. Some may even require less than $5,000 to start them. 17,500) Rs. Assets = 10,000 + 19,700 = 29,700. Purchased stock of goods for cash 75000 sold30 of stock for cash 150000 No. Purchased stock of goods for cash 75000 sold30 of. 4. 4. Started business with capital 1,00,000 2. 2. Goods Sold to Him star Enterprises Pvt. 3,00 0: Answer. 6 - Depreciation 10 percent on plant & machinery. 1,000 (h) Cash withdrew for personal use: Rs. Dec.01: Business started with cash: 75,000: Dec.07: Purchased goods for cash: 10,000: Dec.09: Sold goods to Swati: 5,000: Dec.12: Purchased furniture: 3,000 2,00,000. Delete. 20,000. 30,000 and Furniture Rs. ... Business started with cash in Hand Rs. On 31st March, 2018 his assets were ₹ 75,000. Business started with cash: Rs. Purchased a Motor - cycle for personal use Rs. Prepare accounting equation on the basis of the following: (i) Rahim started business with cash Rs. 200,000 in cash. 10000 2. 800 4. 50,000 4-1-2009. purchased stationary for Rs. 30,000 and on credit for Rs. 5000\ng) Paid Rs.800 for loan and Rs. 10,000. The business was started with $300,000. 30,000 on Credit. 1500 for Rs. 30000 (10000 in cash, remaining from loan)\nd) Sold securities for Rs. Paid for Rent Rs. 14. 4. Mohan started a business on 1st April, 2017 with a capital of ₹ 25,000 and a loan of ₹ 12,500 borrowed from Shyam. 15,000 and Land worth Rs. Paid wages Rs. (iv) Withdrew cash for personal use ₹ 10,000. 40,000 were taken away by the proprietor for his personal use. 50,000 sold at a profit of 25% out of which Rs. Yes! 2500\nf) Salary received (in cash) Rs. 4. What business idea will you like to work on or which business idea can bring in lots of cash? 2 - Stock purchase for sale (cash purchase) = 3,000, credit purchase = 5,000 3 - Wages paid 120,000 (including 20,000 relating to a future year). 06 Jan 06 Sold goods for cash Rs. 5000 3. Dec.01 Business started with cash 75,000 Dec.07 Purchased goods for cash 10,000 Dec.09 Sold goods to Swati 5,000 Dec.12 Purchased furniture 3,000 Dec.18 Cash received from Swati In full settlement 4,000 Dec.25 Paid rent 1,000 Dec.30 Paid salary 1,500 Books of Himanshu Journal Date Particulars L.F Debit Credit Amount Amount Rs. Prepare an Accounting Equation from the following: () Started business with cash 1,00,000. 195,000 in it. 2 ... Goods worth Rs. Courses. 10,000 (iii) Sold goods to Sohan costing Rs. (ii) Purchased goods for cash 20,000 and on credit 30,000. 1,00,000 And Loan From Nepal Rastra Bank Rs. Sold goods Vadva Ram Rs. 3. F. Sold goods costing Rs. Mohan started a business on 1st April, 2017 with a capital of ₹ 25,000 and a loan of ₹ 12,500 borrowed from Shyam. 3. Goods costing Rs. Received cash from Sam 5,000 9.
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