Question

Prepare chart showing Analysis of the following transactions in a Tabular form-

1. Raghav started business with cash Rs 50,000.
2. Sold goods for Rs 1,500.
3. Purchased goods for Rs 1,000 from Amit.
4. Deposited into Bank of India Rs 5,000.
5. Paid salary of Rs 1,200.
6. Received commission Rs 250 from Ram.
7. Purchased goods for cash worth Rs 750 from Jay.
8. Withdrew Rs 500 for personal use.
9. Sold goods to Roshan worth Rs 1,500.
10. Withdrew money for office use Rs 1,300.
11. Paid for transportation Rs 430.
12. Loan taken from Mr. Mehta Rs 5,000.
13. Paid for advertisement Rs 320.
14. Additional capital introduced Rs 5,000.
15. Received interest on investment Rs 1,500.

Answer 1

S. No.	Transactions	Assets							=	Liabilities			+	Capital
		Cash	+	Stock	+	Bank	+	Roshan	=	Amit	+	Mr. Mehta’s Loan	+
(i)	Commenced business with cash Rs 50,000	50,000												50,000
(ii)	Sold goods for Rs 1,500	1,500		(1,500)
		51,500	+	(1,500)		–		–	=	–		–		50,000
(iii)	Purchased goods from Amit Rs 1,000			1,000					=	1,000
		51,500	+	(500)		–		–	=	1,000	+	–	+	50,000
(iv)	Deposited into Bank of India Rs 5,000	(5,000)				5,000
		46,500	+	(500)	+	5,000		–	=	1,000	+	–	+	50,000
(v)	Paid salary Rs 1,200	(1,200)												(1,200)
		45,300	+	(500)	+	5,000		–	=	1,000	+	–	+	48,800
(vi)	Received commission from Ram Rs 250	250							=					250
		45,550	+	(500)	+	5,000		–	=	1,000	+	–	+	49,050
(vii)	Purchased goods worth Rs 750 for cash from Jay	(750)		750
		44,800	+	250	+	5,000	+	–	=	1,000	+	–	+	49,050
(viii)	Withdrew Rs 500 for personal use	(500)							=					(500) (Drawings)
		44,300	+	250	+	5,000	+	–	=	1,000	+	–	+	48,550
(ix)	Sold goods to Roshan worth Rs 1,500			(1,500)				1,500
		44,300	+	(1,250)	+	5,000	+	1,500	=	1,000	+	–	+	48,550
(x)	Withdrew money for Office use Rs 1,300	1,300				(1,300)
		45,600	+	(1,250)	+	3,700	+	1,500	=	1,000	+	–	+	48,550
(xi)	Paid for transportation Rs 430	(430)												(430)
		45,170	+	(1,250)	+	3,700	+	1,500	=	1,000	+	–	+	48,120
(xii)	Loan taken from Mr. Mehta Rs 5,000	5,000							=			5,000
		50,170	+	(1,250)	+	3,700	+	1,500	=	1,000	+	5,000	+	48,120
(xiii)	Paid for advertisement Rs 320	(320)							=					(320)
		49,850	+	(1,250)	+	3,700	+	1,500	=	1,000	+	5,000	+	47,800
(xiv)	Additional capital introduced Rs 5,000	5,000												5,000
		54,850	+	(1,250)	+	3,700	+	1,500	=	1,000	+	5,000	+	52,800
(xv)	Received interest on investment Rs 1,500	1,500							=					1,500
		56,350	+	(1,250)	+	3,700	+	1,500	=	1,000	+	5,000	+	54,300