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    Accountingequation

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    Jolly Singhal
    The document provides information about the Academy of Commerce Professionals coaching institute located in New Delhi, India. It lists the address, contact details, website, and motto of the institute. It then provides details of the various courses and packages offered along with their fees. These include coaching for CA, CS, CMA foundations as well as B.Com, BBA, and other commerce subjects. Fees generally range from Rs. 2000-3000 per month but package fees are Rs. 950-5000 depending on the subjects included. More information can be found on their website or by contacting the listed phone numbers.

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    © All Rights Reserved
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    Accountingequation

    Uploaded by

    Jolly Singhal
    209 views6 pages
    The document provides information about the Academy of Commerce Professionals coaching institute located in New Delhi, India. It lists the address, contact details, website, and motto of the institute. It then provides details of the various courses and packages offered along with their fees. These include coaching for CA, CS, CMA foundations as well as B.Com, BBA, and other commerce subjects. Fees generally range from Rs. 2000-3000 per month but package fees are Rs. 950-5000 depending on the subjects included. More information can be found on their website or by contacting the listed phone numbers.

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    1073868_63459_accountingequation

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    The document provides information about the Academy of Commerce Professionals coaching institute located in New Delhi, India. It lists the address, contact details, website, and motto of the institute. It then provides details of the various courses and packages offered along with their fees. These include coaching for CA, CS, CMA foundations as well as B.Com, BBA, and other commerce subjects. Fees generally range from Rs. 2000-3000 per month but package fees are Rs. 950-5000 depending on the subjects included. More information can be found on their website or by contacting the listed phone numbers.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    209 views6 pages

    Accountingequation

    Uploaded by

    Jolly Singhal
    The document provides information about the Academy of Commerce Professionals coaching institute located in New Delhi, India. It lists the address, contact details, website, and motto of the institute. It then provides details of the various courses and packages offered along with their fees. These include coaching for CA, CS, CMA foundations as well as B.Com, BBA, and other commerce subjects. Fees generally range from Rs. 2000-3000 per month but package fees are Rs. 950-5000 depending on the subjects included. More information can be found on their website or by contacting the listed phone numbers.

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    Academy of Commerce Professionals

    Address : Block No. 9/6582, first floor, Gali No. 2 (Near Sanjay Pustak Bhandar), Dev Nagar ,
    Karol Bagh, New Delhi-5
    Website : www.ACPeducation.blogspot.in | Contact No. : 9654887012 , 8285049453
    People teach. People learn. This is where they Connect.

    Q1. On 31st December 2003, the total assets and liabilities were 1,00,000 and 30,000 respectively. Calculate
    capital.
    Q2. Show the accounting equation on the basis of the following transactions.
    i. Ramya started business with cash
    ii. Purchased goods from Shobana
    iii. Sold goods to Amala costing 18,000
    iv. Ramya withdrew from business
    [Answer : Assets 47,000 = Capital 27,000 + Liabilities 20,000]

    25,000
    20,000
    25,000
    5,000

    Q3. Prepare accounting equation and balance sheet on the basis of the following :
    i. Pallavan started business with cash
    ii. He purchased furniture
    iii. He paid rent
    iv. He purchased goods on credit from Mr.Mahendran
    v. He sold goods (cost price 20,000) for cash
    [Assets 93,000 = Capital 63,000 + Liabilities 30,000]

    60,000
    10,000
    2,000
    30,000
    25,000

    Q4. Journalise the following Opening Entry:


    Cash in hand
    Plant
    Furniture
    Creditors
    Debtors

    2,000
    50,000
    5,000
    13,000
    18,000

    Q5. Journalise the following transactions in the books of m/s Amutha


    2004, Jan. 1
    2
    5
    7
    10
    20

    25
    26
    31

    M/s Amutha commenced business with cash


    Purchased goods for cash
    Purchased goods from Mohan on credit
    Paid into Bank
    Purchased furniture
    Sold goods to Suresh on credit

    Cash sales
    Paid to Mohan on account
    Paid salaries

    50,000
    10,000
    6,000
    5,000
    2,000
    5,000

    3,500
    3,000
    2,800

    [DOCUMENT TITLE]CLASSES AVAILABLE FOR : XI, XII, CA-CPT, CS-FOUND., CMA-FOUND., B.COM(P/H), BBA, BMS

    Academy of Commerce Professionals


    Address : Block No. 9/6582, first floor, Gali No. 2 (Near Sanjay Pustak Bhandar), Dev Nagar ,
    Karol Bagh, New Delhi-5
    Website : www.ACPeducation.blogspot.in | Contact No. : 9654887012 , 8285049453
    People teach. People learn. This is where they Connect.

    Q6. Journalise the following transactions of M Rama


    2004, Jan 1 MRama commenced business with cash
    2 Paid into bank
    3 Purchased goods by cheque
    7 Drew cash from bank for office use
    15 Purchased goods from Siva
    20 Cash sales
    25 Paid to Siva
    Discount Received
    31 Paid rent
    Paid Salaries

    30,000
    21,000
    15,000
    3,000
    15,000
    30,000
    14,750
    250
    500
    2,000

    Q7. Journalise the following transactions of Mr.Moorthi


    2004, June 3 Received cash from Ramkumar
    4 Purchased goods for cash
    11 Sold goods to Damodaran
    13 Paid to Ramkumar
    17 Received from Damodaran
    20 Bought furniture from Jagadeesan
    27 Paid rent
    30 Paid salary

    60,000
    15,000
    22,000
    40,000
    20,000
    5,000
    1,200
    2,500

    Q8. Journalise the following in the Journal of Thiru.Gowri Shankar


    2003, Oct. 1 Received cash from Siva
    7 Paid cash to Sayeed
    10 Bought goods for cash
    12 Bought goods on credit from David
    15 Sold goods for cash

    75,000
    45,000
    27,000
    48,000
    70,000

    Q9. Record the following transactions in the Journal of M/s Bhanumathi :


    2004, Feb. 3 Bought goods for cash 84,500
    7 Sold goods to Dhanalakshmi on credit 55,000
    9 Received commission 3,000
    10 Cash Sales 1,09,000
    12 Bought goods from Mahalakshmi 60,000
    15 Received five chairs from Revathi & Co. at 400 each
    20 Paid Revathi & Co., cash for five chairs
    28 Paid Salaries 10,000
    Paid Rent 5,000
    [DOCUMENT TITLE]CLASSES AVAILABLE FOR : XI, XII, CA-CPT, CS-FOUND., CMA-FOUND., B.COM(P/H), BBA, BMS

    Academy of Commerce Professionals


    Address : Block No. 9/6582, first floor, Gali No. 2 (Near Sanjay Pustak Bhandar), Dev Nagar ,
    Karol Bagh, New Delhi-5
    Website : www.ACPeducation.blogspot.in | Contact No. : 9654887012 , 8285049453
    People teach. People learn. This is where they Connect.

    Q10. Journalise the following transactions in the books of Kalyanasundaram & Sons.
    2004, March 1 Sold goods on credit to Mohanasundaram 75,000.
    12 Purchased goods on credit from Bashyam 70,000.
    15 Sold goods for cash to David 50,000.
    20 Received from Mohanasundaram 70,000.
    25 Paid to Bashyam 50,000.
    Q11. Journalise the following transactions of Mr.Ravi and post them in the ledger and balance the same.
    2004, June 1 Ravi invested 5,00,000 cash in the business
    3 Paid into Bank 80,000
    5 Purchased building for 3,00,000
    7 Purchased goods for 70,000
    10 Sold goods for 80,000
    15 With drew cash from bank 10,000
    25 Paid electric charges 3,000
    30 Paid Salary 15,000
    Q12. Record the following transactions in the Journal of Mr.Radhakrishnan and post them in the ledger and
    balance the same.
    2004, Jan. 1 Radhakrishnan commenced business with cash, 15,00,000.
    3 Paid into Bank 5,00,000
    5 Bought goods for 3,60,000
    7 Paid travelling charges 5,000
    10 Sold goods for 2,50,000
    15 Sold goods to Balan 2,40,000
    20 Purchased goods from Narayanan 2,10,000
    25 Withdrew cash 60,000
    Q13. Journalise the following transactions in the Journal of Mr.Shanmugam, post them in the ledger and
    balance them.
    2003, Aug. 1 Started business with 4,50,000
    3 Goods purchased 70,000
    5 Goods sold 51,000
    10 Goods purchased from Rangasamy 2,00,000
    16 Goods returned to Rangasamy 5,000
    23 Drew from bank 30,000
    26 Furniture purchased 10,000
    27 Settled Rangasamys account
    31 Salaries paid, 12,000
    Q14. Journalise the following transactions in Tmt.Ranis Journal and post them to ledger and balance them.

    2003, Sept. 1 Tmt. Rani started business with


    3,00,000
    5 Opened a current account with Indian Overseas Bank
    50,000
    [DOCUMENT TITLE]CLASSES AVAILABLE FOR : XI, XII, CA-CPT, CS-FOUND., CMA-FOUND., B.COM(P/H), BBA, BMS

    Academy of Commerce Professionals


    Address : Block No. 9/6582, first floor, Gali No. 2 (Near Sanjay Pustak Bhandar), Dev Nagar ,
    Karol Bagh, New Delhi-5
    Website : www.ACPeducation.blogspot.in | Contact No. : 9654887012 , 8285049453
    People teach. People learn. This is where they Connect.

    12 Bought goods from Tmt.Sumathi


    18 Paid to Tmt. Sumathi
    20 Sold goods to Tmt.Chitra
    28 Tmt.Chitra settled her account

    90,000
    90,000
    1,26,000

    Q15. Journalise the following transactions in Thiru.Manikandans books and post them to ledger and balance
    them.
    2003, Aug 5 Sold goods to Arumugam on Credit 17,500
    9 Bought goods for cash from Chellappan 22,500
    12 Met Travelling expenses 2,500
    15 Received 80,000 from Sivakumar as loan
    21 Paid wages to workers 3,000
    Q16. Enter the following transactions in journal and post them in the ledger of Mr.Govindarajan and balance
    them.
    2003, Aug 1 Govindarajan commenced his business with the following assets and liabilities.
    Plant and Machinery 2,50,000.
    Stock 90,000.
    Furniture 7,000.
    Cash 50,000.
    Sundry creditors 1,50,000.
    2 Sold goods to Sundar 1,50,000.
    3 Bought goods from Natarajan 65,000.
    4 Sundar paid cash 1,25,000.
    6 Returned damaged goods to Natarajan 2,000.
    10 Paid to Natarajan 28,000.
    31 Paid rent 5,000.
    Paid salaries 9,000.
    Q17. Post the following transactions direct into ledger of Thiru.Karthik and balance them.
    2003, Oct 1 Received cash from Ramesh 1,60,000.
    5 Bought goods for cash 60,000.
    7 Sold to Suresh 30,000.
    15 Bought from Dayalan 40,000.
    18 Sold to Ganesan 50,000.
    20 Withdrew cash for personal use 18,000.
    25 Received commission 20,000.
    30 Paid rent 5,000.
    31 Paid salary 10,000

    [DOCUMENT TITLE]CLASSES AVAILABLE FOR : XI, XII, CA-CPT, CS-FOUND., CMA-FOUND., B.COM(P/H), BBA, BMS

    Academy of Commerce Professionals


    Address : Block No. 9/6582, first floor, Gali No. 2 (Near Sanjay Pustak Bhandar), Dev Nagar ,
    Karol Bagh, New Delhi-5
    Website : www.ACPeducation.blogspot.in | Contact No. : 9654887012 , 8285049453
    People teach. People learn. This is where they Connect.

    Special Classes Available for :


    Accountancy Rs. 350/- P.M.
    Mathematics Rs. 350/- P.M.
    Economics
    Rs. 350/- P.M.

    PACKAGE Rs. 950/- P.M.


    Accountancy Rs. 400/- P.M.
    Mathematics Rs. 400/- P.M.
    Economics
    Rs. 400/- P.M.

    PACKAGE Rs. 1050/- P.M.

    Fundamentals Of Accounting Rs. 1500/Mercantile Law


    Rs. 1500/General Economics
    Rs. 1500/Quantitative Aptitude
    Rs. 1500/-

    PACKAGE Rs. 5000/Fundamentals of Accounting Rs. 1500/Business Environment &


    Entrepreneurship
    Rs. 1500/Business Management, Ethics

    & Communication

    Rs. 1500/-

    Business Economics

    Rs. 1500/-

    PACKAGE Rs. 5000/FEES are generally within the range of


    2000 3000 . For more information
    about fee structure visit
    www.ACPeducation.blogspot.in OR
    contact with Coaching Branch

    Fundamentals of Economics
    & Management
    Rs. 1500/Fundamentals of Accounting Rs. 1500/Fundamentals of Law & Ethics Rs.1500/Fundamentals of Business Mathematics &
    Statistics
    Rs. 1500/-

    PACKAGE Rs. 5000/-

    [DOCUMENT TITLE]CLASSES AVAILABLE FOR : XI, XII, CA-CPT, CS-FOUND., CMA-FOUND., B.COM(P/H), BBA, BMS

    Academy of Commerce Professionals


    Address : Block No. 9/6582, first floor, Gali No. 2 (Near Sanjay Pustak Bhandar), Dev Nagar ,
    Karol Bagh, New Delhi-5
    Website : www.ACPeducation.blogspot.in | Contact No. : 9654887012 , 8285049453
    People teach. People learn. This is where they Connect.

    For more information visit :

    www.ACPeducation.blogspot.in
    Follow Us On Facebook :
    www.Facebook.com/ACPeducation

    Contact Us via

    9654887012 , 8285049453

    Branch Office : Block No.9/6582, first floor, Gali No.9 (Near Sanjay
    Pustak Bhandar) , Dev Nagar, Karol Bagh, New Delhi - 110005

    [DOCUMENT TITLE]CLASSES AVAILABLE FOR : XI, XII, CA-CPT, CS-FOUND., CMA-FOUND., B.COM(P/H), BBA, BMS

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