Open 'T' shape account for furniture and write the following on the proper side :
1. Furniture purchased for Rs.20,000
2. Furniture sold costing Rs. 5,000
3. Furniture again purchased for Rs. 8,000
4. Old Furniture discarded for Rs.2,500
5. Value of Furniture was reduced by Rs. 2,000

Open 'T' shape account of our creditor 'Sanjay' and write the following transactions on the proper sise : 1. Purchased goods from Sanjay on Credit for Rs. 40,000. 2. Paid to Sanjay Rs. 25,000. 3. Again purchased goods from Sanjay on Credit for Rs. 16,000. 4. Goods returned to Sanjay for Rs. 2,000. 5. Paid to Sanjay Rs. 20,000.

Open 'T' shape account of our creditor 'Raghubir' and write the following transactions on the proper side : - 1. Purchased goods from Raghubir on credit for Rs. 50,000. 2. Returned goods to Raghubir for Rs. 5,000. 3. Paid to Raghubir Rs. 30,000. 4. Purchased goods from Raghubir on credit for Rs.16,000. 5. Paid to Raghubir Rs. 20,000.

What will be the effect of the following on the Accounting Equation :- 1. Purchased goods for Rs.20,000 from Mahesh on Credit. 2. Sold goods to Suresh costing Rs.8,000 for Rs. 10,000 in cash. 3. Paid Wages Rs.500. 4. Withdrew in cash for private use Rs. 2,000. 5 Paid to creditors Rs. 5,000.

Analyse the following transactions, state the nature of accounts and the account that will be debited and credited as per the Traditional approach: 1. Dinesh started from Naresh Rs. 5,00,000. 2. Borrowed from Naresh Rs. 1,00,000. 3. Pruchased furniture for Rs 20,000 in cash from Raj Furniture House. 4. Pruchased furniture from Delhi Safe for Rs. 40,000. 5. Pruchased goods for cash Rs. 15,000. 6. Purchased goods from Mahesh Rs. 30,000. 7. Sold goods for cash to Karim Rs. 25,000. 8. Sold goods to Shyam on credit Rs. 30,000. 9. Cash received from Shyam Rs. 20,000. 10. Cash paid to Mahesh Rs. 10,000.

From the following transactions, state the nature of accounts and state which account will be debited and which account will be credited : 1. Sahdev started business with cash Rs. 5,00,000. 2. Purchased goods for cash Rs. 20,000. 3. Purchased goods from Raghubir on credit for Rs.25,000. 4. Purchased furniture from Fancy Furniture House for Rs.1,50,000 on credit. 5. Sold goods for cash R. 30,000. 6. Sold goods to Yuvraj on credit for Rs. 50,000. 7. Cash paid to Raghubir Rs. 20,000. 8. Cash received from Yuvraj Rs. 15,000. 9. Paid rent Rs. 10,000.

Prepare Furniture Account for the year ended 31st March , 2019 in the books of a social club under the following alternative cases: Case 1. Furniture as on 1st April ,2018 -Rs. 2,20,000, Furniture (having book value as on 1st April , 2018-Rs. 20,000) sold at a gain (profit) of 20% on 31st December , 2018. Furniture purchased on 1st October 2018 for Rs. 1,00,000 , Charge depreciation "@" 10% p.a. on furniture. Case 2. Furniture as on 31st March , 2018-Rs. 4,40,000, Furniture (having book value as on 1st April , 2018 -Rs. 40,000) sold at a loss of 20% on 31st December ,2018. Furniture is to be depreciated "@"10% p.a. furniture costing Rs.3,00,000 was also purchased on 1st October , 2018.

On April 01, 2015, following balances appeared in the books of M/s Kanishka Traders: Furniture account Rs. 50,000, Provision for depreciation of furniture Rs. 22,00. On October 01, 2015 a part of furniture purchased for Rupees 20,000 in April 01, 2011 was sold for Rs. 5,000. On the same date a few furniture costing Rs. 25,000 was purchased. the depreciation was provided @ 10% p.a. on original cost of the asset and no depreciation was charged on the asset om the year of sale. Prefare funiture account and provision for depreciation account for the year ending March 31, 2016

Prove that accounting equation is satisfied in all the following cases : (a) Commenced business with cash Rs. 50,000. (b) Paid rent Rs.4,000 including Rs.1,000 as advance. (c ) Bought goods for cash Rs.30,000 and on credit Rs. 20,000. (d) Sold the goods bought on credit for Rs.25,000. (e) Purchased furniture worth Rs.10,000 for office use and for Rs.5,000 for domestic use.