1 2 3 5 6 7 8 9

problem

On October 1, 2011, R-one starts a business in the name of R-one computer services

On October 2, 2011, R-one paid `20,000 for the purchase of Land (for `10,000), office equipment (for `2000) and bu On October 3, 2011, R-one purchased stationary for `1,350 and agreed to pay the supplier (G-one) in the near future. On October 4, 2011, R-one received cash of `7,500 for providing computer services to Kareena kapoor. On October 5, 2011, R-one paid the following expenses during the month: salaries `3000 and miscellaneous expense On October 2, 2011, R-one paid creditors(viru) on account, `950. On October 2, 2011, R-one determined that the cost of supplies on hand at the end of the period was `550. On October 2, 2011, R-one withdrew `2,000 from youre Great for personal use.

mputer services with cash of `25,000

ent (for `2000) and building ( for `8000) . ne) in the near future.

miscellaneous expenses `650.

You're Great Balance Sheet November 30,2009

Assets Liabilities * *

Cash Supplies Land Total assets

5,900 * 550 * 550 7,000 *

Accounts payable Basanti, capital owner's equity

* Owner's Equity *

400 * #REF! #REF!

#REF! #REF!

Total liabilities and

You're Great Statement of Cash Flows For the Month Ended November 30,2009 Cash flows from operating activities: Cash received from customers

7,500 *
4,600 *

Deduct cash payments for expenses and*payments to creditors Cash flows from investing activities: Purchase of land
*

2,900 (20,000)

Cash flows from financing activities: Cash received as owners investment * Deduct cash withdrawal by owner * Net cash flow from financing activities *

25,000 * 2,000 *
23,000 5,900

Net Cash Flow and November 30,2009, Cash Balance

Journal Date Particulars L.F. Dr ( `)

Page No .1 Cr ( `)

pg.30

Merchandising Business Problem January 2011 1 Kareena Started Business with Cash Rs. 90,000 2 Purchased goods on Credit Rs. 50,000 3 Purchased furniture for cash Rs. 10,000 4 Sold goods costing Rs. 20,000 for Rs. 40,000 5 Sold goods costing Rs. 20,000 on credit for Rs. 42,000 Bought goods worth Rs. 20,000 (Rs. 15,000 paid in cash and balance on 6 credit) 7 Drawn for Personal use Rs. 5,000 8 Paid for Rent Rs. 1000 9 Paid for Salaries Rs. 3000 10 Paid to creditors Rs. 40,000 11 Received from debtors Rs. 12,000 12 transferred Rs. 5000 to bank 13 declared Rs. 100 as bad debt 14 Purchased Goods worth 5000 less 5% trade discount on credit 15 Payment made to creditor worth Rs. 1000 with cash discount of Rs. 50 (Discount Received) 16 Cash was received from debtor worth 500 and allowed him Rs. 50 discount (Discount Allow 17 Paid Rs. 500 by Cheque to creditor 18 Goods Worth Rs.500 were returned by debtor (Return Inwards/Sales Return) 19 Goods worth Rs. 500 were returned to creditor ( Return Outwards/ Purchase Returns)

Rs. 50 (Discount Received) 50 discount (Discount Allowed)

Sales Return) ds/ Purchase Returns)

Assets sundry + debtors

Cash a. + Bal. b. Bal. c. Bal. d. + Bal. e. Bal. f. Bal. g. Bal. h. Bal. i Bal. j Bal. k + Bal. l Bal. m Bal. 90000 90000

Goods

Goods

+ Furniture

+ 90000 10000 80000 40000 120000 120000 15000 105000 5000 100000 1000 99000 3000 96000 40000 56000 12000 68000 5000 + 63000 63000

50000 50000 + 50000 20000 30000 20000 + 10000 20000 30000 30000 30000 30000 30000 30000 10000 10000 10000 42000 42000 42000 42000 42000 42000 42000 12000 30000 30000 500 29500 10000

+ 10000 10000 10000 10000 10000 10000 10000 10000

5000 5000 5000

30000 30000

Liabilities Accounts Payable

+
Basanti Basanti

Owner's Equity Rent A/c Cost of + Sales Goods Sold -

Salaries A/c

+ +

Capital 90000 90000 90000 90000 20000 110000 22000 132000 132000

Drawing

50000 50000 50000 + 50000 + 50000 5000 55000 55000 55000 55000 40000 15000 15000 15000 15000

132000 132000 132000 132000 132000 132000 132000

5000 5000 5000 5000 5000 5000 5000 5000 1000 1000 1000 1000 1000 1000 1000 3000 3000 3000 3000 3000 3000

Salaries A/c -

Bad Debt A/c -

500 500

Journal Date Particulars

L.F.

Dr ( `)

Page No .1 Cr ( `)

Pg 1.122