ai ACCOUNTING EQUATION TRANSACTION | CAPITAL | + | CREDIT casH |+| sTock | FURNIT | DEBTOR OR URE 1 | started the business | 1,00,000 1,00,000 with capital BALANCE 41,00,000 NIL 4,00,000 NIL NIL NIL Purchased goods for ~ 70,000 +70,000 2 | cash BALANCE 41,00,000 NIL 30,000 70,000 | NIL NIL Purchased goods on 3 | credit +80,000 +80,000 BALANCE 1,00,000 80,000 30,000 41,50,000 | NIL NIL Purchased furniture 4 | for cash -3,000 +3,000 BALANCE 1,00,000 80,000 27,000 1,50,000 | 3,000 NIL Paid rent -2,000 -2,000 5 | BALANCE 98,000 80,000 25,000 1,50,000 | 3,000 NIL Sold goods for cash 6 | costing Rs.45,000 +15,000 +60,000 48,000 BALANCE 4,413,000 80,000 85,000 1,05,000 | 3,000 NIL 7_| Paid to creditors 20,000 -20,000 BALANCE 4,13,000 60,000 65,000 1,05,000 | 3,000 NIL Withdrew cash for 8 | private use 10,000 -10,000 BALANCE 1,03,000 60,000 55,000 1,08,000 | 3,000 NIL 9 | Paid salaries -5,000 -5,000 BALANCE 98,000 60,000 50,000 1,05,000 | 3,000 NIL 10 | Sold goods on credit (cost price Rs.60,000) | +20,000 60,000 +80,000 BALANCE 4,418,000 60,000 50,000 45,000 | 3,000 | 80,000BALANCE SHEET LIABILITIES z ASSETS z CAPITAL 4,18,000 CASH 50,000 CREDITORS '60,000 STOCK 45,000 FURNITURE 3,000 DEBTORS 80,000 TOTAL 1,78,000 1,78,000 Q2 JOURNAL DATE PARTICULARS LF DEBIT CREDIT 1.1.2022 Cash Alc Dr. 15,00,000 To Capital A/c 15,00,000 (being business commenced) 3.1,2022 Bank Ac Dr. 5,00,000 To Cash Alc 5,00,000 (being Paid into Bank) 5.1.2022 Purchases Alc Dr. 3,60,000 To Cash Alc 3,60,000 (being goods bought) 7.1.2022 Travelling Expenses A/c Dr. 5,000 To Cash Alc 5,000 (being paid travelling expenses) 10.1.2022 Cash Alc Dr. 2,50,000 To Sales Alc (being goods sold) 2,50,000 12.1.2022 Bala Alc Dr. 2,40,000 To Sales Alc 2,40,000 (being goods sold) 14.1.2022 Purchases Alc Dr. 2,10,000 To Simhan Alc 2,10,000 (being goods purchased) 171.2022 Siva Alc Dr. 1,26,000 To Sales Alc 1,26,000 (being goods sold)18.1,2022 Cash Alc Dr. To Bank A/c (being cash withdrawn ) 60,000 60,000 20.1.2022 Purchases A/c Dr. To Krishna A/c (being goods purchased) 2,00,000 2,00,000 21.1,2022 Cash Alc Dr. To Siva A/c (Being siva alc settled) 1,26,000 1,26,000 22.1,2022 Krishna Alc Dr. Purchase returns Alc (being good returned ) 5,000 5,000 24.1,2022 Investments A/c Dr. To Cash Alc (being investments purchased) 1,00,000 1,00,000 25.1.2022 Krishna Alc Dr. To Cash Alc (being krishna a/c settled) 1,95,000 1,95,000 26.1.2022 Drawings A/c Dr. To Purchases A/c (being goods withdrawn for personal use) 3,000 3,000 31.1.2022 Salaries A/c Dr. To Outstanding expenses Alc To Cash Alc 13,000 1,000 12,000CASH AIC DR. CR. DATE PARTICULARS AMT.) | DATE PARTICULARS, AMT. (®) 1.1.22 | To Balance bid 15,00,000|3.1.22 | By Bank 5,00,000 10.122 | To Sales 250,000 |5.1.22 _| By Purchases 3,860,000 18.122 | To Bank 60,000 | 7.1.22 | By Travelling 5,000 Expenses 21.122 | To Siva 4,26,000 | 25.122 | By Krishna 1,95,000 24.122 | By Investments 1,00,000 31.1.22 | By Salaries 12,000 31.1.22 | By Balance c/d 7,864,000 TOTAL 19,36,000 TOTAL 19,36,000 BANK A/C DR. cR. DATE | PARTICULARS AMT. (@) DATE PARTICULARS AMT. (®) 3.4.22 | To Cash 5,00,000| 18.1.22 | By Cash 60,000 31.1.22 | By Balance bid 4,40,000 TOTAL 5,00,000 TOTAL 5,00,000 PURCHASES A/C DR. CR. DATE | PARTICULARS AMT. (®) DATE PARTICULARS AMT. (®) 5.1.22 | To Cash 3,60,000 | 26.1.22 _| By Drawings 3,000 14.1.22 | To Simhan 2,10,000 20.1.22 | To Krishna 2,00,000 | 31.1.22 | By balance cid 7,867,000 TOTAL 7,70,000 TOTAL 7,70,000 TRAVELLING EXPENSES A/C DR. CR. DATE | PARTICULARS AMT. (®) DATE PARTICULARS AMT. (®) 7.1.22 |ToCash 5,000 By Balance c/d 5,000 TOTAL 5,000 TOTAL 5,000SALES AIC DR. cR. DATE _| PARTICULARS AMT. (®) DATE PARTICULARS AMT. (®) 10.1.22 | ByCash 2,50,000 12.1.22 | ByBala 2,40,000 31.122 | To Balance old 6,16,000] 17.122 | By Siva 1,26,000 TOTAL 6,16,000 TOTAL 6,16,000 SIMHAN A/C DR. cR. DATE PARTICULARS AMT. (®) DATE PARTICULARS AMT. (®) 141.22 | By Purchases 2,10,000 31.122 | To Balance cfd 2,10,000 TOTAL 2,10,000 TOTAL 2,10,000 SIVA AIC DR. CR. DATE PARTICULARS AMT. (®) DATE PARTICULARS AMT. (2) 17.41.22 | To Sales 1,26,000 | 14.1.22 | By Cash .1,26,000 TOTAL 2,10,000 TOTAL 2,10,000 BALA AIC DR. CR. DATE PARTICULARS, AMT. (®) DATE PARTICULARS, AMT. (®) 121.22 | To Sales 2,40,000 31.122 | By Balance c/d 2,40,000 TOTAL 2,40,000 TOTAL 2,40,000 DRAWINGS A/C DR. CR. DATE PARTICULARS AMT. (®) DATE PARTICULARS, AMT. (®) 26.122 | To Purchases 3,000 |31.1.22 | By Balance cld 3,0000 TOTAL 3,000 TOTAL 3,000KRISHNA AC DR. cR. DATE PARTICULARS AMT. (®) DATE PARTICULARS AMT. (®) 20.1.22 | To Purchase Returns 5,000 By Purchases 2,00,000 251.22 | Tocash 1,95,000 TOTAL 2,00,000 TOTAL 2,00,000 INVESTMENTS A/C DR. cR. DATE PARTICULARS ANT. (2) DATE PARTICULARS ANT. (2) 26.1.22 | To Cash 1,00,000 | 31.1.22 | By Balance c/d 1,00,0000 TOTAL 1,00,000 TOTAL 1,00,000 CAPITAL AIC DR. cR. DATE PARTICULARS AMT. (®) DATE PARTICULARS AMT. (®) 31.1.22 | To Balance c/d 15,00,000 | 1.1.22 By Cash 15,00,0000 TOTAL 15,00,000 TOTAL 15,00,000 PURCHASE RETURNS A/C DR. cR. DATE PARTICULARS AMT. (®) DATE PARTICULARS AMT, (®) 31.1.22 | To Balance cid 2,00,000 | 22.1.22 | By Krishna 2,00,0000 TOTAL 2,00,000 TOTAL 2,00,000 SALARIES AC DR. cR. DATE PARTICULARS ANT. (®) DATE PARTICULARS ANT. (8) 3.1.22 | To Cash 12,000 | 31.1.22 | By Balance c/d 12,0000 TOTAL 12,000 TOTAL 12,000 OUTSTANDING SALARIES A/C DR. cR. DATE PARTICULARS ANT. (2) DATE PARTICULARS ANT. (8) 31.1.22 | To Balance old 1,000] 31.1.22 | By Salaries 1,000 TOTAL 1,000 TOTAL 1,000