Edaccountancy

2015 May 1. Purchased 10 T.V. set at 30,000 each set, 5 Refrigerator at 15,000 per piece and 2 Washing Machine at 18,000 per piece from Shri Daya Electronics Stores. Credit period 1 month . Invoices no. 100. 7. Purchased from Shri Tarak Electronics Stores, 5 piece T.V. at 25,000 per piece and 10 Refrigerator at 16,000 per piece at 10% Trade Discount. Received invoice no. 151. Half of the amount paid immediately. 12. Purchased cycle of 5,000 from Shree Ambey Cycle Store. 20. Purchased 5 Refrigerator at 20,000 per piece and 10 Washing Machine at 15,000 per piece at 10% Trade Discount and 5% Cash Discount from Shree Atmaram Electronics Store and amount paid immediately. 25. Placed an order to Smt. Babita for supplying 20 piece T.V. sets at 30,000 per piece and 5 Washing Machines at 21,000 per piece. 31. From Shree Gokuldham Electronics Store, purchased 5 piece T.V. sets at 30,000 per piece and 5 Washing machine at 23,000 per piece. Trade discount at 10% invoice no. 123.  

 2015 Oct. 1. Purchased goods of 10,000 from Dipak on one mouth credit. 3. Purchased goods of 20,000 from Sardar Stores at 10% trade discount Invoice n. 116 7. Purchased goods  of 18,00 from Pankaj on Cash. 15. Placed order with Rajesh for supply goods of 20,000 at 10% trade discount. 20. Purchased furniture of 16,000 from Vyas Furniture Mart on one month credit. 21. Rajesh has sent goods as per order and sent invoice no. 350 after 1,000 for railway freight. 24. Purchased goods of 14,000 at 5% cash discount. 25. Purchased goods of 30,000 from Nilesh at 10% trade discount and half of the amount paid immediately by cheque. 26. Purchased goods of 15,000 from Chirag at 10% trade discount and 5% cash discount. Amount paid immediately. 30. Purchased goods of 40,000 from Nitin Invoice no. 151.

1. A machine purchased by cheque ₹,20,000 and paid for installation ₹500 in cash. 2. Furniture of 3,000 purchased from Kaveri Furniture and carriage paid in Cash 50. 3. 50 shares of Maha Laxma Mill purchased at 100 per share and brokerage 20 paise per share, paid by cheque. 4. For Furniture of 5,000 goods given of 4,000. 5. An old machine of  6,000 sold for 5,000. 6. Land purchased  50,000 and incurred 2,000 for documentation and legal charges. Payment is made in cash.

 2014 March 1. ₹20,000 deposited with bank and opened account. 5. A cheque of ₹5,000 received from Hari, which immediately deposited with bank. 6. A Cheque of ₹2,000 received from Ramanikal for dues. 10. Goods sold to Rupali ₹14,000, out of which cheque received for half amount, which deposited with bank. 12. Goods of ₹10,000 purchased from deepkala and paid half amount by cheque. 15. ₹400 withdrawn from bank for personal expenses and ₹800 for office expense. 18. Life insurance premium ₹300 and fire insurance premium ₹450 paid by cheque. 20. Bank has approved over draft of ₹25,000. 25. Bank has credited interest of ₹250 and debited bank cheque of ₹100. 31. A cheque of ₹5,000 issued for foreign visit of son of owner from business.

7. Transaction for loan and interest. Write the following Transaction in the Journal of Pushar    2014 Feb , 1. Due to additional requirement of Funds, 12% loan of ₹ 20,000 borrowed from ram. 3. ₹8,000 lent to Laxman at interest rate of 8%. 8. Received cash ₹800for loan lent to bharat and ₹200 for interest. 10. ₹5,000 returned back to Seeta for borrowed loan and paid interest ₹400. 12. Received interest ₹200, for loan lent to kaushal. 15. interest for month paid for loan obtained from Ram. 18. ₹75 became receivable for interest on loan of laxman.

. Transactions for Capital and drawings. Write journal entries for the following transactions in the books of Shubham.  

.From the following transaction write Journal entries in the books of Pranjal.   1. Introduced ₹10,000 cash and commenced business. 2. Goods of ₹5,000  purchased on cash. 3. Goods of ₹8,000  purchased on credit from Rajan. 4. Goods of ₹4,000 given for donation. 5. Given order to Shivani to dis patch goods of ₹4,000  6. Shivani has dis patched goods as  per order. 7.  paid ₹2,500 for life Insurance  premium.

1. ₹75,000 brought in cash and commenced business.   2. Incurred Puja expenses of ₹2,000.   3. Brought personal furniture of ₹10,000.   4. Deposited ₹30,000 to State Bank of India.   5. Obtained loan of ₹30,000 from wife.   6. Purchase is made of ₹20,000 and amount is paid by cheque.   7. Sales is made of ₹42,000 and amount is received by cheque.   8. Withdrawn ₹22,000 from Bank.   9. ₹2,000 paid Insurance premium by cheque.   10. ₹3,500 received for brokerage.   11. Goods of ₹12,000 sold to Dani. Amount received by cheque.   12. Goods of ₹8,000  purchased from Dipak. Amount paid by cheque.   13. Withdrawn ₹2,500 from business for personal use.   14. Withdrawn goods of ₹1,500 from business for personal use .     15. Dividend received ₹2,000 through cheque. Cheque deposited with bank.   16. Bank has credited ₹200 of interest.   17. Bank has debited ₹100 of bank charges.   18. Wages paid ₹300.   19. Paid loan interest of ₹350.   20. Machine  purchased of ₹12,000.   Solution:  

1. ₹50,000 brought in cash and started business. 2. A loan of₹10,000 taken from Jasleen. 3. Bank account opened by depositing ₹30,000. 4. A computer purchased for ₹8,000. 5. Stationery purchased ₹1,000. 6. Purchase made of ₹20,000. 7. Purchase is made of ₹30,000 from Raman.  8. Goods of ₹15,000, sold on cash for ₹28,000. 9. Goods of ₹8,000 sold to Nila for ₹15,000. 10. Goods returned to Raman of ₹2,000. 11. Goods returned by Nila of ₹1,500. 12. Paid ₹500 for carriage. 13. Goods of ₹200 destroyed by fire.  14. Commission received ₹5,000. 15. ₹2,000 paid or salary.

Issue of Shares Maharashtra State Board HSC Notes Online Solution for Free Check Out the Sum Solutions. This are the HSC notes online with Calculation and explanatory notes.   1. Vijay Ltd. Was registered with an authorized capital of 15,00,000 divided into 1,50,000 equity shares of 10 each.  Company issued 1,00,000 equity shares of 10 each at premium of 2 per share. Company received application for 80,000 equity shares and were allotted the shares.  Company received application money 3 per share, allotment money 4 per share   (Including premium) and first call money 3 per share.  The Directors have not made final call of 2 per share. All money were received except one shareholder holding 500 shares did not pay first call.   2. Anand Company Limited issued 1,00,000 Preference share of 10 each payable as On   On Application 4  On Allotment 3  On First Call 2  On Second & Final Call 1  Company received application for all these shares and received all money.   3. Rohini Company Limit

  1. Vijay Ltd. Was registered with an authorized capital of 15,00,000 divided into 1,50,000 equity shares of 10 each.   Company issued 1,00,000 equity shares of 10 each at premium of 2 per share. Company received application for 80,000 equity shares and were allotted the shares.   Company received application money 3 per share, allotment money 4 per share   ( Including premium) and first call money 3 per share.   The Directors have not made final call of 2 per share. All money were received except one shareholder holding 500 shares did not pay first call.   Show Authorized Capital, Issued Capital, Subscribed Capital, Called-up Capital, Paid-up Capital, Calls in Arrears and Share Premium amount in company balance sheet .  

A) Asha Ltd. forfeited 100 equity shares of ₹ 20 each fully called up for non-payment of first call of ₹ 3 per share and final call of ₹ 5 per share. 80 shares of these were reissued at ₹ 15 per share fully paid     B) Bhakti Ltd. forfeited 100 equity shares of ₹ 10 each, ₹ 6 called-up on which the shareholder paid application and allotment of ₹ 5 per share. Of these 80 shares were re-issued as fully paid-up for 16 per share.     C) Konark Ltd. forfeited 50 shares of ₹ 10 each, ₹ 8 called-up. The shareholder failed to pay first call of ₹ 3 per share. Later on, 30 shares of these were re-issued at ₹ 7 per share.      

All the shares were subscribed and duly allotted. Company made all the calls. All cash was duly received except the first & final call on 100 equity shares. These shares were forfeited by the company and were re-issued as fully paid for  ₹ 75 per share.     Show the Journal entries in the books of Subhash Company Ltd.      

6. Suhas Limited issued 10000 equity shares of ₹10 each at a premium of ₹2 per share payable ₹3 on application, ₹5 ( including premium) on allotment and the balance in two calls of equal amount.   Applications were received for 11,000 equity shares and pro-rata allotment was made for all the applicants. The excess application money was adjusted towards allotment.   Mrs. Shobha who were allotted 200 equity shares failed to pay F/F/C and her shares were forfeited after the final call.     Show Journal entries in the books of Suhas Ltd. And also show its preparation in Balance Sheet.