Accounting Problem Essay

629 WordsJul 28, 20143 Pages
1. The following are the transactions entered into by Mr. A during April 2007: Apr. 1 Opening Balances: Stock-in-trade: Rs. 1000 Cash-in-hand : Rs. 500 Amount due from Alpha & Co.: Rs. 2000 Cash at Bank: Rs. 1000 Amount due to B & Co. : Rs. 2000 Mr. A brought in cash Rs. 10000 Mr. A deposited Rs. 8000 in the bank Apr. 2 Mr. A purchased goods for Rs. 2000 on credit from Y & Co. Mr. A purchased goods for Rs. 1000 on credit from B & Co. Apr. 3 Mr. A purchased Furniture for Rs. 3000 on credit from R & Co. Mr. A purchased goods for Rs. 3000 on credit from C & Co. Apr. 4 Mr. A sold goods to Alpha & Co. for Rs. 2000 on credit Apr. 5 Mr. A received a cheque for Rs. 20000 from New India Investment Co. towards loan Mr. A purchased goods for Rs. 500 in cash Mr. A paid Rs. 100 towards conveyance charges Mr. A purchased electrical fittings for Rs. 500 Apr. 6 Mr. A withdrew Rs. 1000 from the bank for office use Mr. A purchased goods for Rs. 3000 from M & Co. on credit Apr 7 Mr. A paid Rs. 500 towards office expenses Apr. 8 Mr. A sold goods for Rs. 3000 to Gamma & Co. on credit Apr. 9 Mr. A paid Rs. 1950 by cheque to Y & Co. after adjusting a discount of Rs. 50 Apr. 10 Paid Rs. 100 towards carriage inwards Purchased goods for Rs. 8000 from Y & co. on credit Purchased furniture for Rs. 15000 from R & Co. on credit Paid Rs. 3000 to R & Co. by cheque Apr. 11 Received a cheque for Rs. 1950 from Alpha & Co. . He allowed a discount

More about Accounting Problem Essay

Open Document