Ashok sold goods Rs 14,000 t Bishan on October 30,2016 and drew three bills for Rs 2,000, Rs 4,0...

Green Ltd. purchased a machinery on 1st August, 2015 for Rs 60,000. On 1st October, 2016, it purchased another machine for Rs 20,000. On 30th June, 2017, it sold the first 'machine for Rs 38,500 and on the same date purchased a new machinery for Rs 50,000. Depreciation is provided "@" 20% p.a. on cost each year. Accounts are closed each year on 31st March. Show the Machinery Account for three years.

On 1st April, 2015, machinery was purchased for Rs 80,000. On 1st April, 2016 new machinery costing Rs 40,000 was purchased. On 30th June, 2017, machinery purchased on 1st April, 2015 was sold for Rs 65,000 and on 30th September, 2017 machinery purchased on 1st April, 2016 was sold for Rs 26,750. On 1st October, 2017 another machinery for Rs 50,000 was acquired. On 1st October, 2018 new machinery costing Rs 40,000 was purchased. Depreciation was charged "@ "10% p.a. on the Diminishing Balance Method. Prepare Machinery Account for your years ending on 31st March, 2019.

Asha sold goods worth Rs 19,000 to Nisha on March 02, 2017. Rs 4,000 were paid by Nisha immediately and for the balance she accepted a bill of exchange drawn upon her by Asha payable after three months. Asha discounted the bill immediately with her bank. On the due date Nisha dishonoured the bill and the bank paid Rs 30 as noting charges. Record the necessary journal entries in the books of Asha and Nisha.

Prepare Accounting Equation from the following : (a) Started business with Cash Rs. 2,00,000. (b) Purchased goods for Cash Rs. 60,000 and on Credit Rs. 1,50,000. (c ) Sold goods for Cash costing Rs. 40,000 at a profit of 20% and on Credit costing Rs. 72,000 at a profit of 25%. (d) Paid for Rent Rs. 5,000.

Mrs.Anu started firm with a capital of Rs 4,00,000 on 1st October. 2016. She borrowed from her friends a sum of Rs 1,00,000 @ 10% per annum (interest paid) for business and brought a further amount to capital Rs 75,000 on March 31, 2017, her position was : Cash = Rs 30,000 Stock = Rs 4,70,000 Debtors = 3,50,000 Creditors = Rs 3,00,000 He withdrew Rs 8,000 per month for the year. Calculate profit or loss for the year and show your working clearly.

On 1st April, 2016 a firm purchased machinery for Rs 3,00,000. On 1st October, 2016, additional machinery costing Rs 1,50,000 was purchased on 1st October, 2017, the machinery purchased on 1st April, 2016 having become obsolete, was sold for Rs 1,35,000. On 1st October, 2018, new machinery was purchased for Rs 3,75,000 while the machinery purchased on 1st October, 2016 was sold for Rs 1,27,500 on the same day. The firm provides depreciation on its machinery "@ " 10% per annum on original cost on 31st March every year. Show Machinery Account, Provision for Depreciation Account and Depreciation Account for the period of three accounting years ending 31st March, 2019.

Prepare Accounting Equation from the following : - 1. Started business with cash Rs. 75,000 and goods Rs. 25,000. 2. Paid for Rent Rs. 2,000. 3. Bought goods for cash Rs. 30,000 and on credit for Rs. 44,000. 4. Goods costing Rs. 50,000 sold at a profit of 25% out of which Rs. 27,500 received in Cash. 5. Purchased a Motor - cycle for personal use Rs. 20,000.

What will be the effect of the following on the Accounting Equation ? (i) Harish started business with cash Rs. 1,80,000. (ii) Purchased goods for cash Rs. 60,000 and on credit Rs. 30,000. (iii) Sold goods for cash Rs. 40,000 , costing Rs. 24,000. (iv) Rent paid Rs. 5,000, and rent outstanding Rs. 2,000. (v) Sold good on credit Rs. 50,000 (costing Rs. 38,000). (vi) Salary paid in advance Rs. 3,000.