On 01-04-2006 Mr. Dhanpal started business with Rs.2,00,000
cash and opened a bank account with Rs.1,50,000. He
purchased furniture for his business for Rs.25,000. Goods
were bought from Deendayal for Rs.50,000 on credit. He sold
goods for Rs.27,000 in cash and 30,000 on credit. He paid
Rs. 2,500 for business expenses during April month. Rs.
10,000 was withdrawn for office purposes from the bank. Find
out the closing balance of cash and bank.
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Answer Posted / yash
cash ac dr. =200000
to ccapital a/c= 200000
bank a/c dr......150000
to cash a/c.............150000
if u bought furniture purchase in cash
furniture a/c dr......25000
to cash ......................25000
cash a/c dr.......27000
to sales................27000
if expenses paid in cash
expenses a/c dr........2500
to cash ....................2500
cash a/c dr........10000
to bank...................10000
so dear cash and bank closing balance is
cash balance (200000-150000-25000+27000-2500+10000) =59500
rs
bank balance (150000-10000)=140000
cash balance is 59500 and bank balance is 140000 ok dear
arju
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