Raju began business on first January 2011. You are obliged to pass sections, in diary & auxiliary books,
post them in record and get ready trial offset under sums & equalizations strategy for January 2011. His
exchanges for the month were takes after:
2011 ` Jan. 1 Cash brought in by Raju as his capital 2,00,000 Furniture purchased on credit from Nuluk Furniture Home 25,000 ” 2 Goods purchased from Modi & Sons on credit 61,400 ” 3 Goods purchased for cash 35,000 ” 4 Goods purchased from Delhi Traders on credit 73,300 ” 5 Cash Sales 4,600 ” 8 Sold goods to Bhatia & Co. on credit 19,860 ” 11 Purchased stationery for cash 1,050 ” 12 Paid Modi & Sons cash to settle account Received 5% discount from him ...... ” 13 Received from Bhatia & Co. in full settlement of account 19,800 ” 17 Cash sales 10,700 ” 18 Sold on credit to Ganesh & Co. 5,000 ” 19 Received cash from Ganesh & Co. 1,000 ” 21 Sold on credit to Hoshiar Singh 4,000 ” 23 Purchased goods for cash 26,000 ” 27 Hoshiar Singh becomes insolvent. A first and final dividend of ` 3,000 is received from his estate ” 31 Ganesh & Co. pays cash 3,900 ” 31 Discount allowed to Ganesh & Co. 100 ” 31 Cash paid for rent 2,800 ” 31 Depreciation on furniture 250 ” 31 Payment to Delhi Traders in full settlement 73,000