Raghav started a real extate agency business with a cash investment of Rs. 42,000. The following business transactions have been recorded
(i) Paid 3 months advance rent for office accommodation Rs.2,520
(ii) Bought car for office Rs.25,200
(iii) Purchased office furniture Rs. 8,400.
(iv) Bought office typewriter from Comprehensive Company Rs. 3,600.
(v) Sold extra office furniture at cost to Amar for Rs. 1,200. Amar paid Rs. 720 in cash and accepted a bill at 3 months for the balance.
(vi) Veer paid the amount of the bill at maturity and Amar paid half the amount he owed to comprehensive comany.
(vii) Collected Rs. 7,200 as commission.
(viii) Paid telephone bill amounting Rs. 180.

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Solution

Assets = Rs. 50,820, Liabilities, = Rs. 1,800 and Capital = Rs. 49,020.

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Journalise the following transactions in the books of Miss. Nivedita.

2010 May	1	Commenced business with Cash Rs 2,10,000.
	4	Purchased goods for cash Rs 60,000.
	5	Sold good for cash Rs 70,000.
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	13	Paid for stationery Rs 10,000.
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Bobby opened a consulting firm and completed these transactions during November, 2005:

(a)	Invested Rs 4,00,000 cash and office equipment with Rs 1,50,000 in a business called Bobbie Consulting.
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(c)	Purchased office supplies on credit for Rs 12,000.
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(e)	Purchased for Rs 30,000 additional office equipment on credit.
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(h)	Paid Rs 4,000 for the month’s utilities.
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(j)	Purchase new office equipment by paying Rs 93,000 cash and trading in old equipment with a recorded cost of Rs 7,000.
(k)	Completed services of a client for Rs 26,000. This amount is to be paid within 30 days.
(l)	Received Rs 19,000 payment from the client created in transaction (k).
(m)	Bobby withdrew Rs 20,000 from the business.

Analyse the above stated transactions and open the following T-accounts:

Cash, client, office supplies, motor car, building, land, long term payables, capital, withdrawals, salary, expense and utilities expense.

Prepare a simple cash book from the following information:

2011 Jan.
1.	Mr. Ashvin started business with cash Rs 95,000.
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4.	Purchased goods worth Rs 11,000.
7.	Purchased machinery for Rs 15,000.
10.	Sold goods of Rs 14,300 to Sanket Traders for cash.
13.	Received from Suyash Rs 9,000.
15.	Withdrew Rs 2,500 from business for personal use.
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22.	Purchased goods of Rs 14,000 at 5% trade discount.
26.	Paid salary to staff Rs 18,000.
29.	Paid carriage on goods purchased Rs 1,400.
30.	Paid electricity bill Rs 4,980.
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Bobbie opened a consulting firm and copleted these trannsactions during November, 2005

(a) Invested Rs 4,00,000 cash and office equipment with Rs 1, 50,000 in a business called Bobbie Consulting.

(b) Purchased land and a small building . The land was worth Rs. 1, 50,000 and the building worth Rs 3,50,000. The purchase price was price was paid with Rs 2,00,000 cash and a long term note payable for Rs 8,00,000.

(d) Bobbie transferred title of motor car to the business. The motor car was worth Rs 90,000.

(e) Purchased for Rs 30,000 additional office equipment on credit.

(f) Paid Rs 7,500 salary to the office manager.

(g) Provide services to a client and collected Rs 30,000.

(h) Paid Rs 4,000 for the month's utilities.

(i) Paid supplier created in transaction (c).

(j) Purchase new office equipment by paying Rs 93,000 cash and trading in old equipment with a recorded cost of Rs 7,000.

(k) Completed services of a client for Rs 26,000. This amount is to be paid within 30 days.

(l) Received Rs 19,000 payment from the client created in transaction (k).

(m) Bobbie withdrew Rs 20,000 from the business.

Analyse the above stated transactions and open the following T- accounts

Cash, client, office supplies, motor car, building, land , long term payables, capital , withdrawals, salary, expense and utilies expense.

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

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8. Withdrew for office use Rs 2,000.
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