kAC1ICL ULS1ICNS

We w||| d|scuss the prob|ems |n the next schedu|ed c|ass

uest|on 1 Iourna||se the fo||ow|ng transact|ons
uec 1 A[lL sLarLed buslness wlLh cash 8s 40000
uec 3 Pe pald lnLo Lhe bank 8s 2000
uec 3 Pe purchased goods for cash 8s 13000
uec 8 Pe sold goods for cash 8s 6000
uec 10 Pe purchased furnlLure and pald by cheque 8s 3000
uec 12 Pe sold goods Lo Arvlnd 8s 4000
uec 14 Pe purchased goods from AmrlL 8s 10000
uec 13 Pe reLurned goods Lo AmrlL 8s 3000
uec 16 Pe recelved from Arvlnd 8s 3960 ln full seLLlemenL
uec 18 Pe wlLhdrew goods for personal use 8s 1000
uec 20 Pe wlLhdrew cash from buslness for personal use 8s 2000
uec 24 Pe pald for Lhe Lelephone charges 8s 1000
uec 26 cash pald Lo AmrlL ln full seLLlemenL 8s 4900
uec 31 ald for sLaLlonary 8s 200 renL 8s 300 and salarles Lo sLaff 8s 2000
uec 31 goods dlsLrlbuLed by way of free samples 8s 1000

uest|on 2 Iourna||se the fo||ow|ng transact|ons
1 -lLln sLarLed buslness by lnLroduclng Lhe followlng asseLs
Cash 8s 13000
lurnlLure 8s 23000
lanL 8s 30000
2 Pe purchased goods of Lhe lnvolce value of 8s 18000 aL 10 Lrade dlscounL from
Caurav
3 Pe supplled goods cosLlng 8s 1000 Lo Aman aL an lnvolce prlce of 8s 10 above cosL aL
a Lrade dlscounL of 3
4 Pe lnsLalled furLher machlnery of 8s 30000 and pald wages for lnsLallaLlon 8s 3000 1he
machlnery was supplled by Mc Well broLhers
3 Pe purchased sLaLlonery for buslness purposes 8s 300
6 Pe sold goods Lo 8ahul for 8s 8000
7 Pe wlLhdrew goods for personal use cosLlng 8s 3000 (sale value 8s 6000)
8 Pe dlsLrlbuLed goods cosLlng 8s 2000 (sale value 8s 2300) as free samples
9 8ahul became lnsolvenL and Lhe whole money due from hlm was consldered as a bad
debL
10Pe sold goods for cash 8s 22000
11Salarles pald 8s 10000 afLer deducLlon of 8s 1000 as lncome Lax 8s 3000 as provldenL
fund
12AmounL due from 8ahul earller wrlLLen off bad debLs recovered ln full
13AmounL pald Lo Caurav 8s 13000 ln full saLlsfacLlon
14lncome Lax llablllLy of -lLln 8s 1000 pald ln cash