Question
Give two examples of compensating errors.
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| S.no | ₹ | |
| (i) | Sunil started business with cash | 1,50,000 |
| (ii) | Opened a Bank Account by depositing ₹ 25,000 out of cash | |
| (iii) | He sold his personal car for ₹ 50,000 and deposited the amount in the firm's Bank Account | |
| (iv) | He purchased a building and furniture for | 1,00,000 |
| (v) | He purchased goods from Ram on credit | 50,000 |
| (vi) | He paid cartage | 500 |
| (vii) | He sold to Shyam on credit goods costing ₹ 6,000 for | 9,000 |
| (viii) | Received rent from tenants | 1,000 |
| (ix) | Received security deposit from tenants | 1,500 |
| (x) | Purchased stationery for cash | 100 |
| (xi) | Invested in shares (personal) | 50,000 |
| (xii) | Received interest in cash | 200 |
| (xiii) | Introduced fresh capital | 25,000 |
| (xiv) | Goods destroyed by fire | 500 |
|
S.No
|
|
₹
|
|
i
|
Mohan started business with cash
|
40,000
|
|
ii
|
Purchased Goods
|
20,000
|
|
iii
|
Sold Goods
|
24,000
|
|
iv
|
Paid Rent
|
400
|
|
v
|
Paid salaries
|
600
|
|
vi
|
Drew for personal use
|
1,000
|
|
|
|
(₹)
|
|
(a)
|
Started Business with Cash
|
1,20,000
|
|
(b)
|
Purchased goods for cash
|
10,000
|
|
(c)
|
Rent received
|
5,000
|
|
(d)
|
Salary outstanding
|
2,000
|
|
(e)
|
Received interest
|
700
|
|
(f)
|
Sold goods for cash (costing ₹ 5,000)
|
7,000
|
|
(g)
|
Goods destroyed by fire
|
500
|