On Ist January, 1990, the balances of M/s Khan Bros. are as follows; Liabilities & Owner's equity 4. Assets Cash Rs. 25000 Creditors 40000 17000 Capital 94000 Debtors of goods Stock of goods Building 22000 70.000 134000 134000 Transactions during the month of January; Jan: Purchased goods for cash Rs. 4,000 subject to a trade discount of 10% Sold goods for cash Rs. 12,000 Costing Rs. 10,500 Cash paid to creditors Rs. 25,000 Sold goods for cash Rs.5,000 and as credit basis Rs.3,000 costing Rs.6,000. 11. Goods returned by a customer Rs. 2,000 costing Rs. 1,900 15. Cash received from debtors Rs. 14,000 18. Cash paid for furniture purchased for owner's domestic use Rs. 1,000 22. Depreciation on building Rs. 1,400 29. Paid telephone bill Rs. 600 30. Paid salaries Rs. 3,890. 1. 5. 7. 9. Req. Show the effects of above transactions on the accounfing equation.
On Ist January, 1990, the balances of M/s Khan Bros. are as follows; Liabilities & Owner's equity 4. Assets Cash Rs. 25000 Creditors 40000 17000 Capital 94000 Debtors of goods Stock of goods Building 22000 70.000 134000 134000 Transactions during the month of January; Jan: Purchased goods for cash Rs. 4,000 subject to a trade discount of 10% Sold goods for cash Rs. 12,000 Costing Rs. 10,500 Cash paid to creditors Rs. 25,000 Sold goods for cash Rs.5,000 and as credit basis Rs.3,000 costing Rs.6,000. 11. Goods returned by a customer Rs. 2,000 costing Rs. 1,900 15. Cash received from debtors Rs. 14,000 18. Cash paid for furniture purchased for owner's domestic use Rs. 1,000 22. Depreciation on building Rs. 1,400 29. Paid telephone bill Rs. 600 30. Paid salaries Rs. 3,890. 1. 5. 7. 9. Req. Show the effects of above transactions on the accounfing equation.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:On Ist January, 1990, the balances of M/s Khan Bros. are as follows;
Liabilities & Owner's equity
4.
Assets
Cash
Rs. 25000
Creditors
40000
17000
Capital
94000
Debtors of goods
Stock of goods
Building
22000
70.000
134000
134000
Transactions during the month of January;
Jan:
Purchased goods for cash Rs. 4,000 subject to a trade discount of 10%
Sold goods for cash Rs. 12,000 Costing Rs. 10,500
Cash paid to creditors Rs. 25,000
Sold goods for cash Rs.5,000 and as credit basis Rs.3,000 costing Rs.6,000.
11. Goods returned by a customer Rs. 2,000 costing Rs. 1,900
15. Cash received from debtors Rs. 14,000
18. Cash paid for furniture purchased for owner's domestic use Rs. 1,000
22. Depreciation on building Rs. 1,400
29. Paid telephone bill Rs. 600
30. Paid salaries Rs. 3,890.
1.
5.
7.
9.
Req. Show the effects of above transactions on the accounfing equation.
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