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Question
Complete the following table:
| Land & Building | Real Account |
| Commission Received | ? |
Solution
| Land & Building | Real Account |
| Commission Received | Nominal Account |
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Prepare Furniture A/c from the following transactions.
| 2016 Jan | Particulars | ₹ |
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| 2017 Oct | Particulars | ₹ |
| 1 | Started business with cash | 25,000 |
| 5 | Deposited into bank | 12,500 |
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| 19 | Sold goods to Vasu on credit | 4,000 |
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Journalise the following transactions in the books of Vasu and post them to ledger accounts.
| 2017 Nov | Particulars |
| 1 | Cash in hand ₹ 1,00,000; Cash at bank: ₹ 30,000 |
| 2 | Vasu sold goods to Jothi for ₹ 25,000 against a cheque and deposited the same in the bank |
| 4 | Received as commission ₹ 5,000 |
| 8 | Bank paid ₹ 15,000 directly for the insurance premium of Vasu. |
| 15 | Cash deposited into bank ₹ 30,000 |
| 20 | Cash withdrawn from bank for personal use ₹ 45,000. |
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| Discount allowed by him | 40 | |
| 25 | Goods purchased from Anand | 5,000 |
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| 1 | Raja commenced business with cash ₹ 50,000 |
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| 1. Capital A/c | ||
| 2. Goodwill | ||
| 3. Bank Overdraft | ||
| 4. Bills Receivable | ||
| 5. Creditors | ||
| 6. Drawings | ||
| 7. Advertisement | ||
| 8. Prepaid Rent | ||
| 9. Outstanding Salary | ||
| 10. Bad debts |
