Dinesh who owed us Rs 8,000 became insolvent and paid us `60%` in full settlement. Posting will be made to Dinesh A/c:

Paid to Jihyasa Rs 11,500 in full settlement of Rs 12,000. Posting will be made in Jigyasa's A/c.

Journalise the following transactions in the books of Mohan, Delhi: (i) Raj of Alwar, Rajasthan who owed Mohan Rs. 25,000 became insolvent and received 60 paise in a ruee as full and final settlement. (ii) Mohan owes to his landlord Rs. 10,000 as rent. (iii) Charge depreciation of 10% on furniture costing Rs. 50,000. (iv) Salaries due to employees Rs. 20,000. (v) Sold to Sunil goods in cash of Rs. 10,000 less 10% trade discount plus CGST and SGST @ 6% each and received a net of Rs. 8,500. (vi) Provided interest on capital of Rs. 1,00,000 @ 10% per annum. (vii) Goods lost in theft Rs. 5,000, which were purchased paying IGST @ 12% from Alwar, Rajasthan.

Received Rs 4,900 from Garima in full settlement of Rs 5,000. Posting of Rs 100 will be made to the :

Sold goods for cash of the list price of Rs 8,000 at 10% trade discount and 3% cash discount. Posting will be made in Discount A/c:

Purchased goods from Manoj of Rs 20,000 at 20% trade discount. Posting will be made in Manoj A/c:

Journalise the following transactions in the books of Ashok: (i) Received Rs. 11,700 from Hari Krishan in full settlement of his account for Rs. 12,000. (ii) Received Rs. 11,700 from Shyam on his account for Rs. 12,000. (iii) Received a first and final dividend of 70 paise in the rupee from the official receiver of Rajagopal who owed us Rs. 7,000. (iv) Paid Rs. 2,880 to A.K. Madal in full settlement of his account for Rs. 3,000. (v) Paid Rs. 2,880 to S.K. Gupta on his account for Rs. 3,000.

Prepare Accounting Equation on the basis of the following transactions : (a) Started business with cash Rs. 70,000. (b) Credit purchase of good Rs. 18,000. (c ) Payment made to creditors in full settlement Rs. 17,500. (d) Purchase of machinery for cash Rs. 20,000.