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Journal 4

The document outlines financial transactions for two individuals, Surveen and Rahul, detailing their business activities including cash balances, purchases, sales, and expenses. Surveen's transactions involve starting capital, purchases, donations, and personal withdrawals, while Rahul's transactions include business commencement, credit purchases, cash withdrawals, and asset acquisitions. Both sets of transactions reflect typical business operations and financial management practices.

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hiya.6r14
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10 views2 pages

Journal 4

The document outlines financial transactions for two individuals, Surveen and Rahul, detailing their business activities including cash balances, purchases, sales, and expenses. Surveen's transactions involve starting capital, purchases, donations, and personal withdrawals, while Rahul's transactions include business commencement, credit purchases, cash withdrawals, and asset acquisitions. Both sets of transactions reflect typical business operations and financial management practices.

Uploaded by

hiya.6r14
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Commerce Career Academy

Nehru Market, Jagraon.

Journal:4th
Q 1. 1. Surveen commenced business with cash `1,00,000 and stock `30,000 and
bank balance `50,000.
2. Bought goods for cash `5,000 and on credit for `5,000 from Raj.
3. Goods donated to Lel Ladakh residents `2,000.
4. Goods withdrawn by Surveen for personal use `1,000.
5. Purchased a Motor cycle for personal use `20,000.
6. Sold goods for cash costing `3,000 at a profit of 20% on cost.
7. Deposit cash into business bank A/c `2,000 from personal account.
8. Cash paid to creditors `4,000.
9. Borrowed cash from bank `50,000.
10. Cash withdrawn from bank for office use `5,000.
11. Salary due but not paid `3,000.
12. Repaid bank loan `10,000.
13. Commission received in advance for next year `9,000.
14. Purchase furniture and fixture for office use `5,000 and payment made
by cheque.
15. Depreciate furniture by `500.
Q 2. 1. Rahul commenced business with cash `5,00,000.
2. Purchased goods on credit `14,000 from S.K Trading Co. and payment
made by cheque after two months.
3. Withdrawn cash from business `17,000 for personal use.
4. Sold goods (costing `7,000) on credit `5,000.
5. Return goods to supplier `2,000.
6. Paid to creditors (S.K Trading Co.) `10,000.
7. Interest due but not received `1,000.
8. Rent due but not paid `2,500.
9. Received cash from debtor `2,000.
10. Goods returned by customer `1,000.
11. Purchased an office computer for `10,000, giving `7,000 in cash and
balance through a loan.
12. Insurance premium paid for the next month `3,000.
13. Salary paid for the month `2,000.
14. Commission accrued `2,000.
15. Advertising expense paid by cheque `3,000.

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