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Methods of Treatment

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Question

This text is written in an old-fashioned style, for it reports an incident more than two millennia old. Look for the following words and phrases in the text, and try to rephrase them in more current language, based on how you understand them.

give thee medicine for thy child

Pray tell me

Kisa repaired to the Buddha

there was no house but someone had died in it

kinsmen

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Solution

1. Give you medicine for your child

2. Please tell me

3. Kisa went to the Buddha

4. There was no house where no one had died

5. Relatives

6. Listen

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Q. Pass necessary Journal entries to record the following unrecorded assets and liabilities in the books of Paras and Priya:
(a) There was an old furniture in the firm which had been written off completely in the books. This was sold for Rs. 3,000.
(b) Ashish, an old customer whose account for Rs. 1,000 was written off as bad in the previous year, paid 60%, of the amount.
(c) Para agreed to takeover the firm's goodwill (not recorded in the book of the firm), at a valuation of Rs. 30,000.
(d) There was an old typewriter which had been written off completely from the books. It was estimated to realise Rs. 400. It was taken by priya at an estimate price less 25%

Q. Pass necessary Journal entries to record the following unrecorded assets and liabilities in the books of Paras and Priya:
(a) There was an old furniture in the firm which had been written off completely in the books. This was sold for ₹ 3,000.
(b) Ashish, an old customer whose account for ₹ 1,000 was written off as bad in the previous year, paid 60%, of the amount.
(c) Paras agreed to takeover the firm's goodwill (not recorded in the books of the firm), at a valuation of ₹ 30,000.
(d) There was an old typewriter which had been written off completely from the books. It was estimated to realise ₹ 400. It was taken by Priya at an estimated price less 25%.
(e) There were 100 shares of ₹ 10 each in Star Limited acquired at a cost of ₹ 2,000 which had been written-off completely from the books. These shares are valued @ ₹ 6 each and divided among the partners in their profit-sharing ratio.

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Methods of Treatment

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