- Commenced business with Cash Rs.5,000/- (of which Rs.2,000/- borrowed from friend Ram) and furniture Rs.1,400/-
2. Purchased goods from Kanta Rs.1,800/- less 5%. Trade Discount.
6. Sold goods to Ketual costing Rs.400/- at 10% Profit.
7. Cash purchases Rs.500/-.
8. Cash sales – Rs.1,200/-.
9. Purchased goods from Baba Rs.500/-.
9. Paid into Bank Rs.2,000/-.
10. Returned to Kanta goods worth Rs.150/-.
11. Purchased office furniture for Rs.1,200/- and paid for same by cheque.
16. Issued a cheque to Kanta for Rs.910/-.
21.Invoiced goods to Ketual Rs.5,000/- less 2% Trade discount.
23. Ketual paid cash Rs.400/- and returned goods of Rs.140/-.
24. Purchased goods from Kanta Rs.1,300/-.
28.Returned damaged goods to Janta Rs.160/- & to Baba Rs.150/-.
28. Sold goods to Kant Rs.1,200/-.
29. Received a cheque for Rs.1,100/- from Kant and banked the same.
29. Kant, who owes us Rs.100/- pays rent Rs.100/- to our landlord on our behalf.
30 We paid Rs.75/- to Raju on instructions from our creditor Kanta on his behalf.
Based on UPES MBA Accounting Solution and others
Answer
