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

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

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

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

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

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:

Anup and Sumit are equal partners in a firm. They decided to dissolve the parntership on December 31, 2017. When the balance sheet is as under : The Assets were realised as follows : Rs. Lease hold land 72,000 Furniture 22,500 Stock 40,500 Plant 48,000 Sundry Debtors 10,500 The Creditors were paid Rs. 25,500 in full settlement. Expenses of realisation amount to Rs. 2,500. Prepare Realisation Account, Bank Account, Partners Capital Accounts to close the books of the firm.

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.