Q 1: Records all the transactions.

Following balances appeared in the books of Ashoka Traders as on 1st January, 2008:Assets: - Cash Rs. 7,80,000; Andhra Bank Rs. 10,10,000; Furniture Rs. 10,00,000; Buildings Rs. 35,00,000, Debtors: - Rajan & Co. Rs. 4,50,000; Shah Bros. Rs. 3,70,000; Laxmi enterprises Rs. 2,80,000. Liabilities: - Raj Enterprises Rs. 4,50,000; Narain Bros. Rs. 4,90,000, SBI (Bank Loan) Rs. 36,50,000; Capital 28,00,000 2008 Jan. 1 Purchased goods for cash for Rs. 3,50,000. Jan. 1 Cash sales of goods for Rs. 5,00,000. Jan. 1 Stationery exp. Rs. 5000. Jan. 2 Bought goods of the list price of Rs. 265,000 from Narain Brothers less 15% trade discount and paid 40% by cash and 60% by Andhra Bank. Jan. 3 Sold goods to Shah bros. of the list price of Rs. 100,000 at trade discount of 10%. Jan. 4 Cash payment to Raj enterprises Rs. 200,000 Jan. 4 Received from Shah Bros. Rs. 85,000 in full settlement of his account. Jan. 5 Commission received Rs. 40,000 Jan. 6 Receives a cheque from Laxmi enterprises Rs. 400,000. Jan. 7 Salary paid by cheque Rs. 45,000 Jan. 7 Electricity bill paid by cash Rs. 1,200 Jan. 8 Paid for the proprietors Life Insurance Premium Rs. 1,200 Jan. 8 Sold goods to Shiv & Co. of the list price of Rs. 100,000 Jan. 9 Shiv & Co. returned goods of the list price of Rs 10,000. Jan. 10 The above cheque has been deposited in to the bank. Jan. 11 Bank charges Rs. 1000 Jan. 11 Staff welfare exp. Rs. 10,000 Jan. 12 Goods loss by fire Rs. 10000 Jan. 12 Withdrew from bank for private use Rs. 40,000 Jan. 13 Paid telephone bill by debit card for Rs. 1,500 Jan. 15 paid Income Tax Rs. 20,000 Jan. 16 Cash purchase Rs. 205,000 Jan. 17 Cash sales Rs. 400,000 Jan. 18 Purchased a machinery for Rs. 1,00,000 and spent Rs. 5,000 on its installation. Payment for machinery was made by cheque and installation expenses were paid in cash. Jan. 19 Paid Rs. 500 for repairing some other machinery. Jan. 20 Cheque received from Mohan & Co. 405,000 Jan. 22 Payment to Narain Bros. by cheque Rs. 205,000 Jan. 24 Cash deposit into bank Rs. 100,000 Jan. 24 Rent of store Rs. 15,000. Jan. 26 Conveyance Rs. 1,400 Jan. 27 Sold goods for cash to Manoj & Co. for Rs. 1,20,000 Jan. 28 Charge depreciation @ 10% on furniture and building and 15% on machinery. Jan 29 Interest on capital @10%. Jan 30 Repayment of SBI bank loan for Rs. 200000 from Andhra Bank Jan 30 Charge interest @ 10% by SBI on outstanding amount.

Records the following transactions: Opening Balance Sheet as on 31-03-2009 LIABILITY AMOUNT Capital 55,20,000 ICICI Bank (Secured Loan) 10,00,000 HDFC Bank (OD/CC) 10,00,000 S. Creditors -Nargish & Co. 12,00,000 - Kapoor Bros. 10,00,000 - Bhatt Enterprises 11,00,000

ASSET Plant & Machinery Building Furniture Computers S. Debtors - Rani Enterprises - Karina & Co. - Khan Bros. Closing Stock (Detail below) PNB Bank Cash in hand

AMOUNT 20,00,000 15,00,000 5,00,000 3,00,000 10,00,000 10,50,000 10,50,000 16,20,000 10,50,000 7,50,000 1,08,20,000

75,20,000 DETAIL OF STOCK: STEEL 1,000 KG @ 600 PER KG. 6,00,000 ZINK 2,000 KG @ 300 PER KG 6,00,000 COPPER 1,000 KG @ 320 PER KG 3,20,000 BRASS 500 KG @ 200 PER KG 1,00,000 Following transactions are made during the year. 1. Purchase steel 0,000 Kg. @ 605 and payment made by HDFC bank. 2. Cash paid to Kapoor Bros. Rs. 4,00,000 3. Cheque received from Karina & Co. Rs. 5,00,000 4. Sold Zink 1,000 Kg. @ 320/- to Khan Bros. 5. Electricity bill paid by cheque s. 15,500 6. Purchase Air conditioner for Rs. 21,000 and paid 1,500 for its installation. Purchase price paid by PNB & installation charges paid by cash. 7. Cash withdrawn from bank for Rs. 1,25,000 8. Purchase Brass 1,000 Kg @ 206/- from Bhatt ent. 9. Bank charges of HDFC Bank Rs. 800 10. Sold Brss 1,000 kg. @ 225/- to karina & Co. 11. Telephone bill Rs. 2,200 12. Rent Rs. 20,000 13. Commission received Rs. 5,000 14. Charge depreciation on plant & machinery @ 15%, Furniture @ 10% 15. Sold Copper 500 liter. @ 360/16. Payment of ICICI Bank Loan Rs. 5,00,000 17. Cheque paid to Bhatt ent. Rs. 5,00,000 18. Cheque received from Karina & Co. 5,00,000 19. Stationery exp. Rs. 1,000 20. Purchase Steel 2,000 Kg @ 688/- from Datt & C. 21. Sold Steel 1,800 Kg. @ 721/- to Rani Ent. 22. Paid salary by cheque Rs. 20,000 23. Conveyance Rs. 1,500 24. Paid to Kapoor Bros. 1,50,000 by PNB; Cash received from Nargish & Co. 1,80,000 25. Cash withdrawn from personal purpose Rs. 5,000;Commission charged by PNB Rs. 100

26. Telephone bill paid by cheque Rs. 1,800.