studynatic
Rectification of Errors
Provisions and Reserves
Depreciation
Straight Line Method (SLM) Q1. Tushar purchased a machine for Rs.90,000. Expenses incurred on its cartage and installation are Rs.10,000. The residual value at the end of its expected useful life of 10 years is estimated at Rs.20,000. Calculate the…
Trial Balance
Without Goods and Services Tax (GST) Q1. Prepare a Trial Balance with the following information: Solution- Q2. From the following ledger balances, prepare Trial Balance: Capital Rs.20,800; Rent outstanding Rs.1,420; Amount due to Mohan Rs.15,000; Drawings Rs.2,800; Goodwill Rs.12,000; Interest…
Bank Reconciliation Statement
Debit (Favourable) Balance as per Cash Book Q1. Ramesh has his account with state bank of India . According to his Cash Book, his bank balance on 31st March, 2025 was 72,950. He sent cheques for 90,075 to his bank…
Accounting of Goods and Services Tax (GST)
Q1. Journalise the following transactions in the books of Gurman of Delhi: Solution – Journal Entries Working Note:- Less Trade Discount (10%) = 2,000 = 18,000 Less Cash Discount (5%) = 900 = 17,100 Add:…
Special Purpose Books II-Other Books
Q1. Record the following transactions in the Purchases Book of Krishna General Stores, Delhi: Solution – In the Book of Krishna General Store Purchases Book Q2. Verma Bros. carry on business as wholesale cloth dealer. From the following write…
Special Purpose Books I-Cash Book
Q1. Enter the following transactions of Ripinder in his Single Column Cash Book and Balance it: Solution – Single Column Book Transaction: Dr Cash Book Cr Working Note – Only Cash transaction recorded in cash book so purchased goods…
Ledger
Q1. On 1st April, 2025, Gopal started business with a capital of 50,000. He made the following transactions during the month of April: Journalise the above transactions and show the respective Ledger accounts. Solution – Book of Gopal Journal…