01 JAN - 15 JAN 2022 | Weekly Current Affairs | TOP 200+ MCQ For All Exam By Gaurav Sir

Journalise the following transactions is the journal of M/s Goel Brothers and post them to the ledger. Jan. 01 Started business with cash 1,65,000 Jan. 02 Opened bank account in PNB 80,000 Jan. 04 Goods purchased from Tara 22,000 Jan. 05 Goods purchased for cash 30,000 Jan. 08 Goods sold to Naman 12,000 Jan. 10 Cash paid to Tara 22,000 Jan.15 Cash received from Naman 11700 Discount allowed 300 Jan. 16 Paid wages 200 Jan. 18 Furniture purchased for office use 5,000 Jan. 20 withdrawn from bank for personal use 4,000 Jan. 22 Issued cheque for rent 3,000 Jan. 23 goods issued for house hold purpose 2,000 Jan. 24 drawn cash from bank for office use 6,000 Jan. 26 Commission received 1,000 Jan. 27 Bank charges 200 Jan. 28 Cheque given for insurance premium 3,000 Jan. 29 Paid salary 7,000 Jan. 30 Cash sales 10,000

The given bar graph presents the sales of a particular brand of car by three showrooms, A,B and C during the months Jan,Feb ,Mar and Apr 2016 If the cars sold by A and B are all found to be in perfect order, but the cars sold by C were found to be defective to the extent of 15%,10% and 8% and 6% respectively in Jan,Mar and Apr 2016 What is the percentage of defective cars sold by all showrooms during Apr 2016?

Ashish and Dutta were partners in a firm sharing profits in 3:2 ratio. On Jan. 01, 2015 they admitted Vimal for 1/5 share in the profits. The Balance Sheet of Ashish and Dutta as on Jan. 01, 2016 was as follows: It was agreed that: (i) The value of Land and Building be increased by Rs. 15,000. (ii) The value of plant be increased by 10,000. (iii) Goodwill of the firm be valued at Rs. 20,000. (iv) Vimal to bring in capital to the extent of 1/5th of the total capital of the new firm. Record the necessary journal entries and prepare the Balance Sheet of the firm after Vimal’s admission.

On January 01, 2015, Khosla Transport Co. purchased five trucks for Rs. each. Depreciation has been provided at the rate of 10% p.a. using straight line method and accumulated in provision for depreciation acount. On January 01, 2016, one truck was sold for Rs. 15,000 . On July 01,2017 , another truch (Purhcased for Rs. 20,000 on Jan, 01, 2014) was sold for Rs. 18,000 . . A new truck costing Rs. 30,000 was purhcased on October 01, 2016. You are required to prepare trucks account, Provision for depreciation account and Truck disposal account for the years ended on December 2015, 2016 and 2017 assuming that the firm closes its accounts in December every year.