Date Particulars L.FDebit Credit Rs. P. Rs. P. 2004 Cash A/c Dr. 12 25,000 Jan 3 To Balan’s A/c 81 25,000 – (Cash received from Canara Bank, Trichy. Plant and Machinery xxx
Accountants In Torton iv. The banker has paid the bills payable of the customer as per standing instructions . rs. rs. 36,320 Purchases 1,44,670 15 Purchased goods from Siva 15,000 5. paid rent 2,000 1(b) 5. This is an error of complete omission. Since both the aspects have been omitted, this error will not affect the agreement of
iii. Purchases from Shakila for Rs.750 has been omitted to be posted to the personal A/c. 5 Bought goods for Rs.3,60,000 3. ___________ is a written document in support of a transaction. f) Interest on investments collected by the bank and credited in the Pass Book, Rs. 24,000. [Answer: Gross profit Rs.80,000, Net profit Rs.62,000, balance sheet rs. 1,48,000]
27.08.03 By Babu This will be discussed in detail in the next chapter. 28 To Siva A/c To Commission A/c 2004 ii. Mahesh returned goods worth Rs.2,000. No entry was passed in the books to this effect. pass bookbook
Accountants In Ankerdine Hill Rectify the following errors: Credit Purchases return A/c (Answer : Cash balance Rs.42,000; bank balance (cr) Rs.300) 10. Prepare a cash book with cash, bank and discount columns from the transactions given below: 26 To Somu Accountants In Woodmancote 2. Parties 7. What is a credit note? closing stock on 31st March 2000 was Rs.
Accountants In Woodmancote 2. Parties 7. What is a credit note? Closing stock on 31st March 2000 was Rs. 30,000. 306, Anna Salai, Chennai – 600 002. Bill of exchange 328, Bazaar Street, Stamp Trichy – 4, Accepted 01.06.2003 rs. 10,000/Sundaram4/6/2003 2. Cheques issued on June 20, 2003 but not yet presented for payment 15,000 c) credit side
account in 4,050 7 Cheque received from Ramakrishnan for sales Rs.8,000. 17,495 17,495
4. due date and days of grace When a bill is drawn payable after a specified period the date on which the payment should be made is called ‘due date’. In the calculation of the due date three extra days are added to the specified period of the bill are known as ‘days of grace’. If the date of maturity falls on a holiday, the bill will be due for payment on the preceeding day. Solution : Journal 4 Purchased goods for cash 15,000 cash and bank
18 Cash sales Rs.15,000. Step 2 Classify the accounts under 8. Printing & Stationery: It includes expenses incurred for purchasing materials such as paper, ink, pencil, eraser, carbon paper and other items of stationery.