Plzzzz guys solve only 8 and 9 transaction... Very urgent
Answers & Comments
sachinarora2001
1// Cash a/c dr 80, 000 To capital a/c 80,000 ( Being business started with use of cash )
2//(a) On cash basis
purchase a/c dr, 20,000 To cash account 20,000 ( being cash paid on goods purchase)
(b), on the credit basis
purchase a /c dr 25,000 To Amit 25,000 ( being goods purchase on credit )
3// wages a/c dr 3,000 Rent a/c dr 1,000 To cash @/c 4,000 ( being cash paid on wages and rent ) .
4//wages outstanding a/c dr 1,000 To wages a/c 1,000 ( being wages outstanding)
5//Cash a/c dr 16,000 To sales a/c 16,000 (, being goods sold on cash )
6// Creditors a/c dr 1,000 To Purchase return a/c 1,000 ,( being gooda return to creditors )
7// Purchase account dr, 5,000 To cash a/c 3,000 To Amit 2,000 ( being goods purchase on cash and credit )
8//Cash a/c dr 8,000 To interest on capital a/c 8,000 ( being interest charge on capital ) . 9// Bank a/c dr 5,000 To cash a/c 5,000 ,( being cash deposit into bank)
Answers & Comments
To capital a/c 80,000
( Being business started with use of cash )
2//(a) On cash basis
purchase a/c dr, 20,000
To cash account 20,000
( being cash paid on goods purchase)
(b), on the credit basis
purchase a /c dr 25,000
To Amit 25,000
( being goods purchase on credit )
3// wages a/c dr 3,000
Rent a/c dr 1,000
To cash @/c 4,000
( being cash paid on wages and rent )
.
4//wages outstanding a/c dr 1,000
To wages a/c 1,000
( being wages outstanding)
5//Cash a/c dr 16,000
To sales a/c 16,000
(, being goods sold on cash )
6// Creditors a/c dr 1,000
To Purchase return a/c 1,000
,( being gooda return to creditors )
7// Purchase account dr, 5,000
To cash a/c 3,000
To Amit 2,000
( being goods purchase on cash and credit )
8//Cash a/c dr 8,000
To interest on capital a/c 8,000
( being interest charge on capital )
.
9// Bank a/c dr 5,000
To cash a/c 5,000
,( being cash deposit into bank)