Financial AccountingTU Board 2024
You are given following transactions of Jyoti Suppliers: 1. Started business with cash Rs. 5,00,000 and equipment Rs. 7,50,000 2. Purchased goods Rs. 25,000 on account and made partial payment Rs.…
10You are given following transactions of Jyoti Suppliers:
- Started business with cash Rs. 5,00,000 and equipment Rs. 7,50,000
- Purchased goods Rs. 25,000 on account and made partial payment Rs. 10,000
- Paid insurance for the year Rs. 6,000
- Sold goods on account for Rs.30,000 and received Rs partially Rs 20,000
- Paid rent Rs 4,800 and travelling expenses Rs 2,800
- Sold goods on cash Rs 55,000
- Purchased good on credit Rs 21,000
- Cash paid to Accounts payable Rs. 90,000 in full settlement of Rs 92,000
- Cash withdraw from bank Rs 40,000 for office use
- Paid assistant's salary Rs 12,000
- Goods costing Rs 12,000 lost by fire and the insurance company admits full claim
- Bought furniture from S.S furniture Udhyog on credit Rs 30,000 Required: a) Journal Entries b) Sales Account, Account Payable account and Account Receivable Account.
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