Enter the following transactions in cash book and bank book with discount columns. 2013 May 1 May
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Enter the following transactions in cash book and bank book with discount columns.
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2013 May 1 May 4 May 5 May 6 May 10 May 11 May 13 May 14 May 14 May 14 May 16 May 17 May 18 May 19 May 22 May 24 May 25 May 29 May 29 May 30 Balance of cash in hand 40,000, Overdraft at bank, 5,00,000. Invested further capital of 20,00,000 out of which 6,00,000 deposited in the bank. Sold goods for cash, 23,00,000. Received cheques from debtors of last year, 8,00,000, discount allowed to them, *20,000. Purchased goods for cash, 5,50,000. Paid Raman Sharma (creditor), 2,50,000, discount allowed by him, 5,000. Commission paid to sales agent, 260,000. Office furniture purchased from Karan, 20,000 for cash. Rent paid, 15,000. Electricity charges paid, 1,000. Draw cheque for personal use, 70,000. Cash sales, 2,50,000. Received cheque from Ajay, 4,00,000, deposited in the bank next day. Draw from the bank for office use, 50,000. Draw cheque for petty cash, 15,000. Dividend received by cheque, 5,000, deposited in the bank on the same day. Commission received by cheque, 325,000; deposited in the bank on 28th May. Paid from the bank salary of the office staff, 1,50,000. Paid salary of the manager by cheque, 50,000. The cash amount in excess of 1,00,000 is required to deposited with bank as per the policy of the firm.
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Related Book For
Management Accounting Text Problems And Cases
ISBN: 9781259026683
6th Edition
Authors: M Y Khan, P K Jain
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