On Feb. 02, 2017, Verma purchased from Sharma goods for Rs 17,500. Verma paid Rs 2,500

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.

Rectify the following errors: Goods purchased from Kunal for Rs. 8,000 and from Kapil of Rs. 9,000 recorded correctly in the Purchases Book. However, Rs. 9,000 was posted to Kunal and Rs. 8,000 to Kapil. (ii) Anil's Account was excess debited by Rs. 500 while Suraj's Account was short debited by Rs. 500. (iii) Parkar's Account was short credited by Rs. 700 while Manish's Account was excess credited by Rs. 700. (iv) Goods sold to Roopak for Rs. 1,000 and to Sagar for Rs. 1,800 recorded correctly in the Sales Book. However, Rs. 1,800 was posted to Roopak and Rs. 1,000 to Sagar.

Put the following on the proper side of Cash account, Debtor's account and Creditor's account : (a) Sold goods for cash Rs. 60,000. (b) Sold goods to Hari on credit Rs. 20,000. (c ) Purchased goods from Krishan on credit Rs. 36,000. (d) Purchased goods from Krishan for cash Rs. 10,000. (e) Cash received from Hari Rs.15,000. (f) Cash paid to Krishan Rs. 28,000.

From the following information of M/s. Narain & Co., Delhi, prepare the Purchases Book for the month of February, 2019 : 2019 February 1 Purchased from M/s. Brown & Co., Kolkata: 5 gross pencils @ Rs. 1,200 per gross 2 dozen registers @ Rs. 500 per dozen Less: Trade Discount @ 10% February 2 Purchased for cash from the Stationery Mart: 10 dozen exercise books @ Rs. 300 per dozen February 3 Purchased computer printer for office use from M/s. Office Goods Co. for Rs. 20,000 February 4 Purchased from The Paper Co., Delhi: 8 reams of white paper @ Rs. 500 per ream 10 reams of ruled paper @ Rs. 600 per ream Less: Trade Discount @ 10% February 5 Purchased 80 Reynolds Pens @ Rs. 5 each from M/s. Verma Bros., Delhi Note: CGST and SGST is levied @ 2.5% each and IGST is levied @ 5%.

From the following information of M/s. Narain & Co., Delhi, prepare the Purchases Book for the month of February, 2019 : 2019 February 1 Purchased from M/s. Brown & Co., Kolkata: 5 gross pencils @ Rs. 1,200 per gross 2 dozen registers @ Rs. 500 per dozen Less: Trade Discount @ 10% February 2 Purchased for cash from the Stationery Mart: 10 dozen exercise books @ Rs. 300 per dozen February 3 Purchased computer printer for office use from M/s. Office Goods Co. for Rs. 20,000 February 4 Purchased from The Paper Co., Delhi: 8 reams of white paper @ Rs. 500 per ream 10 reams of ruled paper @ Rs. 600 per ream Less: Trade Discount @ 10% February 5 Purchased 80 Reynolds Pens @ Rs. 5 each from M/s. Verma Bros., Delhi

Devya purchased Joyti's business with effect from 1st April, 2019. Profits shown by Jyoti's business for the last three financial years were: 2016 - 17 : Rs. 1,00,000 (including an abnormal gain of Rs. 12,500). 2017 - 18 : Rs. 1,25,000 (after charging an abnormal loss of Rs. 25,000). 2018 - 19 : Rs. 1,12,500 (excluding Rs. 12,500 as insurance premium on firm's property - now to be insured). Calculate the value of firm's goodwill on the basis of two years' purchase of the average profit of he last three years.

From the following tansaction, state the nature of accounts and state the accounts which will be debited and credited: 1. Ganesh started business with Cash Rs.2,00,000. 2. Purchased goods for Cash Rs. 60,000. 3. Sold goods for cash Rs.75,000. 4. Purchased goods from Nakul on Credit for Rs. 80,000. 5. Sold goods to Bhushan on Credit fro Rs. 50,000. 6. Paid Cash to Nakul Rs. 20,000. 7. Received Cash from Bhushan Rs. 10,000. 8. Paid salary Rs. 20,000.

Journalise the following transactions in the books of Bhushan Agencies: (i) Received from Bharat cash Rs. 20,000, allowed him discount of Rs. 500. (ii) Received from Vikas Rs. 35,000 by cheque, allowed him discount of Rs. 750. (iii) Received from Amrit Rs. 38,000 in settlement of him dues of Rs. 40,000 in cash. (iv) Received from Amrit Rs. 50,000 by cheque on account against dues of Rs 60,000. (v) Paid cash Rs. 40,000 to Suresh, availed discount of 2% . (vi) Paid by cheque Rs. 25,000 to Mehar and settled her dues of Rs. 26,000. (vii) Paid Rs. 25,000 to Yogesh by cheque on account. (viii) Purchased goods costing Rs. 1,00,000 against cheque and availed discount of 3% . (ix) Purchased goods costing Rs. 60,000 from Akash & Co., paid 50% immediately availing 3% discount. (x) Sold goods of Rs. 30,000 against cheque allowing 2% discount. (xi) Sold goods of Rs. 60,000 to Vimal received 50% of due amount allowing 2% discount.