Job Dissatisfaction

Problem: Financial Accounting 12th Feb 2013

April 2012

1) The following are the transactions (of a trading unit managed by Ms. Monika) entered into by Ms. Monika during April 2000: April 1 Opening balances:

a. Stock-in-trade: Rs. 1,000. (Units 12)

b. Amount due from Alpha & Co.: Rs. 2,000.

c. Cash-in-hand: Rs. 500.

d. Cash-in at bank: Rs. 1,000.

e. Amount due to B & Co.: Rs. 2,000.

f. Ms. Monika’s capital is Rs. 10,500.

g. Ms. Monika deposited Rs. 8,000 in the bank as fixed deposit @ 7.50%p.a.

2) Ms. Monika purchased goods for Rs. 1,000 (10 units) on credit from B & Co.

3) Ms. Monika purchased furniture (Fixed Asset) for Rs. 3,000 on credit from R & Co

4) Ms. Monika sold goods to Alpha & Co. for Rs. 2,000 (10 units) on credit.

5) Ms. Monika received a cheque for Rs. 20,000 from New Bank of Investment Co., towards loan @15% p.a. interest.

6) Withdrew cash from bank Rs. 8000/-

7) Ms. Monika purchased goods for Rs. 500 (5 units) in cash.

8) Ms. Monika paid Rs. 100 towards conveyance charges.

9) Ms. Monika purchased electrical fittings (Fixed Asset) for Rs. 500 in cash.

10) Ms. Monika withdrew Rs. 1,000 from the bank for office use.

11) Ms. Monika paid Rs. 500 towards office expenses.

12) Ms. Monika sold goods for Rs. 3,000 (12 units) to Gamma & Co. on credit

13) Ms. Monika paid Rs. 1,950 by cheque to B & Co. B & Co. allowed a discount of Rs. 50.

14) Ms. Monika paid Rs. 3,000 to R & Co. by cheque.

15) Ms. Monika received a cheque for Rs. 1,950 from Alpha & Co. She allowed a discount of Rs.50.

16) Ms. Monika withdrew Rs. 1,000 from the bank towards personal expenses.

17) Ms. Monika paid Rs. 200 towards travelling expenses.

18) Ms. Monika received a cheque of Rs. 3,000 from Gamma & Co.

19) Ms. Monika purchased goods for Rs. 2,000 (21 Units) on credit from B & Co.

20) Ms. Monika paid insurance premium of Rs. 1,200 by