Open 'T' shape account for furniture and write the following on theproper side : 1. Furniture pu...

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 '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.

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.