Question

Prepare chart showing Analysis of the following transactions in a Tabular Form

1. Mr. Rohit shah started business with cash Rs 10,000.
2. Purchased goods for cash Rs 1,500.
3. Deposited into Bank of Maharashtra Rs 1,000.
4. Sold goods to Rakesh Rs 500.
5. Paid Rent of Rs 200.
6. Received dividend of Rs 550.
7. Loan taken from SBI Rs 2,000.
8. Withdrew for office use Rs 2,000.
9. Paid for repairs Rs 150.
10 Paid wages to Rane Rs 200.

Answer 1

S. No.	Transactions	Assets							=	Liabilities	+	Capital
		Cash	+	Stock	+	Bank	+	Rakesh	=	SBI’s Loan	+
(i)	Commenced business with cash Rs 10,000	10,000										10,000
(ii)	Purchased goods for cash Rs 1,500	(1,500)		1,500
		8,500	+	1,500					=			10,000
(iii)	Deposited into Bank of Maharashtra Rs 1,000	(1,000)				1,000
		7,500	+	1,500	+	1,000	+		=			10,000
(iv)	Sold goods to Rakesh Rs 500			(500)				500
		7,500	+	1,000	+	1,000	+	500	=			10,000
(v)	Paid rent Rs 200	(200)							=			(200)
		7,300	+	1,000	+	1,000	+	500	=			9,800
(vi)	Received dividend of Rs 550	550										550
		7,850	+	1,000	+	1,000	+	500	=			10,350
(vii)	Loan taken from SBI Rs 2,000					2,000			=	2,000
		7,850	+	1,000	+	3,000	+	500	=	2,000	+	10,350
(viii)	Withdrew Rs 2,000 for office use	2,000				(2,000)
		9,850	+	1,000	+	1,000	+	500	=	2,000	+	10,350
(ix)	Paid for repairs Rs 150	(150)							=			(150)
		9,700	+	1,000	+	1,000	+	500	=	2,000	+	10,200
(x)	Paid wages to Rane Rs 200	(200)							=			(200)
		9,500	+	1,000	+	1,000	+	500	=	2,000	+	10,000