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Question for practice - from HDFC Bank. (f) He carried out...

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(1)From the following transactions of a month, pass necessary Journal entries, Prepare Cash Book, and post them to ledger including Trading and Profit and Loss Account and at the end also prepare Balance sheet. (a) Mr. Satish started his construction business by bringing in his personal cash of Rs 900000. (b) Office furniture of Rs 30000 for cash is Purchased. (c) He opens a current account with Citi bank by depositing Rs 150000 (d) He pays office rent of Rs. 20000 for the month by cheque drawn on their Citi Bank to M/s Realtors Properties. (e) He buys a motorcar worth Rs 475000 from Millennium Motors by making a down payment of Rs 60000 by cheque drawn on Citi Bank and the balance by taking a loan
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Unformatted text preview: from HDFC Bank. (f) He carried out a construction assignment for Avon Pharmaceuticals and raised a bill for Rs 1000000 as fees. Avon Pharmaceuticals have immediately settled Rs 300000 by way of cheque and balance shall be paid after one month. The cheque received is deposited into Citi Bank. (g) He has employed two receptionists on a salary of Rs 6000 (total) per month and one officer at a salary Rs 11000 per month. The salary for the current month is payable to them. (h)Insurance for the vehicle is paid for Rs.7200 including Rs.2400 for the next year. (i)Office furniture to be depreciated by 10%. (j) A payment is due, to be made to Mr. Amjad for supply of stationery for Rs.10000....
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