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Closing capital $Rs. 90,200$, gross profit before adjustments $Rs. 44,000$, net profit $Rs. 37,850$
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Pass book of Simran shows credit balance of $₹ 12,000$ on $28-2-2018,$ which does not match with bank balance as per cashbook. Prepare bank reconciliation statement of Simran from the following information available while comparing pass book with cashbook.
$(1)$ Interest allowed by bank $₹ 300$ is not recorded in cashbook.
$(2)$ A cheque of $₹ 15,000$ deposited with bank on $27-2-2018$ is dishonored. The information for the same is received on $1-3-2018.$
$(3)$ Cheques of $₹ 5200$ were presented for payment on $28-2-2018$ out of cheques issued of $₹ 7000.$
$(4)$ Cheques of $₹ 18,000$ were deposited with bank; out of which a cheque of $₹ 8000$ was collected on $2-3-2018.$
$(5)$ $₹ 9000$ was deposited directly in bank account by a customer, which is not recorded in cashbook.
$(6)$ Bank charges of $₹ 200$ are debited in pass book as well as in cashbook.
→$(1)$ Interest allowed by bank $₹ 300$ is not recorded in cashbook.
$(2)$ A cheque of $₹ 15,000$ deposited with bank on $27-2-2018$ is dishonored. The information for the same is received on $1-3-2018.$
$(3)$ Cheques of $₹ 5200$ were presented for payment on $28-2-2018$ out of cheques issued of $₹ 7000.$
$(4)$ Cheques of $₹ 18,000$ were deposited with bank; out of which a cheque of $₹ 8000$ was collected on $2-3-2018.$
$(5)$ $₹ 9000$ was deposited directly in bank account by a customer, which is not recorded in cashbook.
$(6)$ Bank charges of $₹ 200$ are debited in pass book as well as in cashbook.
In the books of Sanket Enterprise, machine account has balance of $₹ 1,40,000$ on $1-4—12.$ This machine was purchased on $1-4-09$. Second machine was purchased on $1—1—14$ for $₹ 1,10,000$. lts installation expense was ? $10,000$. Company provides annual depreciation at $10 \%$ under straight line method. First machine was sold on $31-3-15$ at $20 \%$ loss on book value. From the above information prepare machine account for last three years, in the books of company.
→From the following information, prepare Bank Reconciliation Statement of Margi :
→| Bank Passbook | ||||
| Date | Particulars | Debit(Rs.) | Credit(Rs.) | Balance(Rs.) |
| $2015$ | ||||
| Dec.$1$ | Balance b/f | $-$ | $4,000$ | $4,000$ |
| $6$ | Ahmedabad Electricity Co. A/c | $3,200$ | $-$ | $8,000$ |
| $10$ | Mayank A/c | $-$ | $2,000$ | $2,800$ |
| $15$ | Divyang Al/c | $1,600$ | $-$ | $1,200$ |
| $19$ | Dividend A/c | $-$ | $300$ | $1,500$ |
| $22$ | Amena A/c | $900$ | $-$ | $600$ |
| $27$ | Bank commission A/c | $20$ | $-$ | $580$ |
| $30$ | Aahna A/c | $500$ | $-$ | $80$ |
| $31$ | Balance c/f | $80$ | $-$ | $80$ |
| $6,300$ | $6,300$ | $-$ | ||
| Dr. | Cashbook (Bank column) | Cr. | |||||||
| Date | Particulars | R. | L. | Amt. | Date | Particulars | R. | L. | Amt. |
| (Receipts) | N. | F. | (Rs.) | (Payment) | N. | F. | (Rs.) | ||
| $2015$ | $2015$ | ||||||||
| Dec.$1$ | To Balance b/d | $4,000$ | Dec.$4$ | By Ahmedabad Ele. | |||||
| $10$ | To Mayank A/c | $2,000$ | Co. A/c | $3,200$ | |||||
| $12$ | To Gaurang A/c | $1,900$ | $8$ | By Premal A/c | $700$ | ||||
| $15$ | To Bhupendra A/c | $2,400$ | $11$ | By Sales India A/c | $2,000$ | ||||
| $22$ | To Chandni A/c | $3,200$ | $16$ | By Kamal A/c | $400$ | ||||
| $28$ | To Commission A/c | $600$ | $20$ | By Amena A/c | $900$ | ||||
| (Cheque received | $26$ | By interest A/c | $5,000$ | ||||||
| from Meera) | (Cheque issued to | ||||||||
| Bank of India) | |||||||||
| $31$ | By Balance c/f | $1,900$ | |||||||
| $14,100$ | $14,100$ | ||||||||
Shushma Limited has purchased one machine for $₹ 52,000$ on $1-4-12.$ Installation expense of machine was ? $3000.$ On $1-10-13$ second machine purchased for $₹ 19,000$, its installation cost was $₹ 1000.$ Company charges depreciation at $10 \%$ under straight line method of depreciation. On $31-3-15$, first machine was sold at profit of $20 "/0$ on book value.
→In the books of Bulbul corporation, on $1—4—12,$ machine account shows balance of $₹ 90,000.$ This machine was purchased $5$ years back. Till this date total amount of depreciation on this machine was $₹ 30,000$. On $1-1-14$ second machine was purchased for $₹ 18,000$. The second machine was not suitable and was sold on $31-12-14$ at profit of $10 \%$ on book value. Company charges depreciation at $5 \%$, every year under straight line method. From the above information prepare a machine account and depreciation account upto $31-3-15$ in the books of company.
→From the following details of Kalpana Brothers prepare petty cash book and post them in necessary accounts in ledger. $2015$
$1 $ Opening cash balance with petty cashier $Rs.5,000.$
$1 $ Received from chief cashier $Rs. 3,000$
$2 $ Paid wages $Rs.1,500$ and stationery expenses $Rs.800.$
$3 $ Paid railway freight $Rs.1,000.$
$4 $ Paid carriage charges $Rs.850.$
$5 $ Paid to Krishnakant $Rs.1,000$
→$1 $ Opening cash balance with petty cashier $Rs.5,000.$
$1 $ Received from chief cashier $Rs. 3,000$
$2 $ Paid wages $Rs.1,500$ and stationery expenses $Rs.800.$
$3 $ Paid railway freight $Rs.1,000.$
$4 $ Paid carriage charges $Rs.850.$
$5 $ Paid to Krishnakant $Rs.1,000$
Record the following transactions in the books of Abraham: $2016$
→Sudhashu Limited has purchased on machine for $Rs.22,000$ on $1-4-12$. The installationexpense of this machine was of $Rs.1,800$. Second machine was purchased for $Rs.20,400$ on $1-10-13$ and its installation charge was $Rs.1,200$. Company provides depreciation at $10\%$every year under reducing balance method. First machine was sold at $20\%$ loss on bookvalue on $30-3-15$. From the above information, prepare machine A/c and pass journal entries for first year.
→Shri Harish Chaudhary keeps his books as per single entry system. From the following information you have to find out profit for the year 2015-16 and prepare a balance sheet as on $31-3-2016.$
The stock as on $1-4-2015$ was valued at $₹ 90,000$. During the year $2015-16$, the purchases amounted to $₹ 3,60,000$ while sales amounted to $₹ 4,05,000$. The goods were sold so as to earn a profit of $25 \%$ on cost price. On $1-1-2016$, Ilarish has brought his private furniture of $₹ 19,200$ in the firm. A machine of $₹ 36,000$ has been purchased by cash, during the year on $1-10-2015$. A bill receivable of $₹ 10,800$ was received from one of the customers during the year, which was discounted for cash for $₹ 10,500$, which has been recorded in cash book but posting has not been made in the customer's account. Harish had taken away goods of $₹ 18,000$ for personal use and goods of $₹ 9000$ have been given as charity. Harish has withdrawn $₹ 36,000$ in cash. He had paid $₹ 1800$ for his daughter's school fees and life insurance premium of $₹ 900$ of his wife from the business. Provide for depreciation on machinery at $10 \%$ pa. and on furniture at $6 \%$ p.a. Provide for bad debt reserve at $5 \%$ on debtors and calculate interest on capital at $8 \%$ p.a.
→The stock as on $1-4-2015$ was valued at $₹ 90,000$. During the year $2015-16$, the purchases amounted to $₹ 3,60,000$ while sales amounted to $₹ 4,05,000$. The goods were sold so as to earn a profit of $25 \%$ on cost price. On $1-1-2016$, Ilarish has brought his private furniture of $₹ 19,200$ in the firm. A machine of $₹ 36,000$ has been purchased by cash, during the year on $1-10-2015$. A bill receivable of $₹ 10,800$ was received from one of the customers during the year, which was discounted for cash for $₹ 10,500$, which has been recorded in cash book but posting has not been made in the customer's account. Harish had taken away goods of $₹ 18,000$ for personal use and goods of $₹ 9000$ have been given as charity. Harish has withdrawn $₹ 36,000$ in cash. He had paid $₹ 1800$ for his daughter's school fees and life insurance premium of $₹ 900$ of his wife from the business. Provide for depreciation on machinery at $10 \%$ pa. and on furniture at $6 \%$ p.a. Provide for bad debt reserve at $5 \%$ on debtors and calculate interest on capital at $8 \%$ p.a.
Bank column of cashbook of Shri Jay shows credit balance of $₹ 12,000$ on $31-7-2018.$ This balance was different from the balance as per pass book. Prepare bank reconciliation statement of Shri Jay as on $31-7-2018.$
$(1)$ Discount allowed on cash sales $₹ 300$ is debited in bank column of cashbook.
$(2)$ A bills payable of $₹ 5000$ was discharged by cheque; one month before maturity at discount of $₹ 200. $ Full amount of $₹ 5000$ is credited in cashbook.
$(3) $ Demat charges of $₹ 340$ paid by bank as per instruction of Shri Jay, is recorded as $₹ 430$ in cashbook.
$(4)$ Dividend of $₹ 530$ is credited by the company in the bank account of Shri Jay is credited in bank column of cashbook by $₹ 350.$
$(5)$ Cheque received and credited in pass book by bank $₹ 6000$ recorded twice in cashbook.
$(6)$ Interest of $₹ 200$ is debited in pass book by bank, which is not recorded in cashbook.
→$(1)$ Discount allowed on cash sales $₹ 300$ is debited in bank column of cashbook.
$(2)$ A bills payable of $₹ 5000$ was discharged by cheque; one month before maturity at discount of $₹ 200. $ Full amount of $₹ 5000$ is credited in cashbook.
$(3) $ Demat charges of $₹ 340$ paid by bank as per instruction of Shri Jay, is recorded as $₹ 430$ in cashbook.
$(4)$ Dividend of $₹ 530$ is credited by the company in the bank account of Shri Jay is credited in bank column of cashbook by $₹ 350.$
$(5)$ Cheque received and credited in pass book by bank $₹ 6000$ recorded twice in cashbook.
$(6)$ Interest of $₹ 200$ is debited in pass book by bank, which is not recorded in cashbook.