Commerce Career Academy

Nehru Market, Jagraon.

Assingment-2nd
Accounting Equation
Q I. 1. Commenced business with cash I 4,00,000 and bank balance 2,00,000 and stock I 1,00,000.
2. Purchase goods on credit I 14,000.
3. Sold goods (costing 15,500) for 12,500 on credit.
4. Return goods to supplier I 4,000.
5. Cash paid to supplier I 5500.
6. Goods retuned by a customer I 3000 (cost I 2800)
7. Cash received from a customer I 4,500.
8. Interest due but not received I 12,000.
9. Purchased furniture and payment made by cheque 10,000.
10. Depreciate furniture by I 2000.
11. Goods costing I 13,000 sold for 16,000 on credit.
12. Bad debts written off I 4500.
13. Cash received from I 9500 from customer and him allowed discount I 500.
14. Bad debts recovered I 2500.
15. Cash paid to creditor I 9800 and discount received I 200.
Q II. 1. Rahul commenced business with cash I 5,00,000.
2. Purchased goods on credit I 14,000.
3. Withdraw for private use I 17,000.
4. Sold goods costing I 5,000 on credit I 7,000.
5. Paid to creditors I 10,000.
6. Purchased furniture for cash I 50,000.
7. Deposited in to Bank I 1,00,000.
8. Received Commission I 5,000.
9. Withdrawn goods from business for personal use I 2,000.
10. Purchased an office equipment for I 45,000, giving I 15,000 in cash and balance through a loan.
11. Withdrawn from bank for office use I 2000.
12. Purchased shares for cash I 22,500.
13. Received cash for Rent I 10,000.
14. Sold shares costing I 3000 for 4500.
15. Paid cash I 10,000 for loan and I900 for interest.