Mr. Ramu has the following transactions in the month of July.
July 1st : Ramu started business with a capital of 75,000
2nd : Purchased goods from Manu on credit 25,000
3rd : Sold goods to Sonu 20,000 for cash
4th : Purchased goods from Meenu 15,000 for cash
5th : Sold goods to Tanu for cash 16,000
6th : Goods retuned to Manu 2,000
7th : Bought furniture for 15,000
8th : Bought goods from Zenu 12,000 on credit
9th : Cash paid to Manu 10,000
10th : Sold goods to Jane 13,500 on credit

What shall be the cash balance after considering the above transactions?

Rs 84000 Credit

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Rs 71000 Debit

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Rs 71000 Credit

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None of the above

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Solution

The correct option is B - Rs 71000 Debit

Particulars Amount

Introduction of capital 75,000

Add: Sale to Sonu 20,000

Less: Purchases from Meenu (15,000)

Add: Sale to Tannu 16,000

Less: Furniture (15,000)

Less: Cash paid (10,000)

Cash balance 71,000

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Similar questions

From the following transactions prepare necessary ledger accounts and balance them.

2011 Jan.	1	Sachin started Business with Cash Rs 10,000 and Machinery Rs 15,000
	1	Purchased goods for cash Rs 3,000.
	3	Sold goods for cash Rs 4,000.
	5	Purchased furniture on credit from Poona Traders Rs 7,000.
	8	Purchased goods on credit from Mr. Dilip Rs 2,000 at 10% T.D.
	10	Sold goods on credit to Mr. Mahendra Rs 8,000 at 12.5% T.D.
	15	Paid Rent Rs 600.
	28	Withdraw cash for personal use Rs 1,000.
	20	Paid cash to Mr. Dilip Rs 1,800.
	25	Received cash from Mr. Mahendra Rs 6,800.
	31	Paid to Miss Sunita Rs 400 for salaries

		₹
(i)	Mohan commenced business with cash	50,000
(ii)	Purchased goods for cash	30,000
(iii)	Purchased goods on credit	20,000
(iv)	Sold goods (costing ₹ 10,000) for	12,000
(v)	Bought furniture on credit	2,000
(vi) (vii)	Paid cash to a creditor Salary paid	15,000 1,000


2019		₹
Jan. 1	Ripinder started business with capital	2,00,000
Jan. 2	Purchased furniture for cash	50,000
Jan. 3	Purchased goods for cash	30,000
Jan. 5	Paid freight	500
Jan. 7	Sold goods for cash	28,000
Jan. 10	Paid to Ramesh	20,000
Jan. 15	Sold goods for cash	10,000
Jan. 20	Paid wages	10,000
Jan. 25	Purchased goods from Raj on credit	20,000
Jan. 31	Paid rent by Cheque	5,000

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