(i) Cash withdrew for personal use Rs. , ( Ans: Asset = cash Rs. , + Goods Rs. , + Furniture Rs.
, Debtors Rs. , = Rs. , , ; Liabilities = Capital Rs. , , ) .
Bobby opened a consulting firm and completed these transactions during November, : (a) Invested Rs. , , cash and office equipment with Rs. , , in a business called Bobbie Consulting. (b) Purchased land and a small office building.
The land was worth Rs. , , and the building worth Rs. , , . The purchase price was price was paid with Rs.
, , cash and a long term note payable for Rs. , , . (c) Purchased office supplies on credit for Rs. , .
(d) Bobbie transferred title of motor car to the business. The motor car was worth Rs. , . (e) Purchased for Rs.
, additional office equipment on credit. (f) Paid Rs. , salary to the office manager. (g) Provided services to a client and collected Rs.
, (h) Paid Rs. , for the month’s utilities. Paid supplier created in transaction c. (j) Purchase new office equipment by paying Rs.
, cash and trading in old equipment with a recorded cost of Rs. , . (k) Completed services of a client for Rs. , .
This amount is to be paid within days. (l) Received Rs. , payment from the client created in transaction k. (m) Bobby withdrew Rs.
, from the business. Analyse the above stated transactions and open the following T- accounts: Cash, client, office supplies, motor car, building, land, long term payables, capital, withdrawals, salary, expense and utilities expense. Journalising . Journalise the following transactions in the books of Himanshu: Dec.
Business started with cash , Dec. Purchased goods for cash Dec. Sold goods to Swati , Dec. Purchased furniture , Dec.
Cash received from Swati In full settlement , Dec. Paid rent , Dec. Paid salary , . Enter the following Transactions in the Journal of Mudit : Jan.
Commenced business with cash , , Jan. Building , , Jan. Goods purchased for cash , Jan. Sold goods to Ramesh Jan.
Paid wages Jan.