Date particulars debit credit 1-may cash a/c 50000 common stock 50000 1-may cash a/c 20000 note payable a/c 20000 1-may cash alc 45000 preferred stock 3000 additional capital 42000 1500 28 1-may equipment a/c 15000 cash a/c 15000 1-may prepaid rent a/c 12000 cash a/c 12000 3-may supplies a/ 800 accounts payable a/c 800 3-may inventory a/c 5850 cash a/c 5850 6-may cash a/c 3630 service revenue a/c 3630
These solutions for Ledger are extremely popular among Class 11 Commerce students for On 1st April, 2018, Mohit started business with a capital of ₹ 50,000. Debit. Amount. (Rs). Credit. Amount. (Rs). 2018. Apr.01. Cash A/c. Dr. 50,000 20,000. To Cash A/c. 20,000. (Cash paid to Rita). Apr.25. Rohit. Dr. 10,000.
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The figures in the margin on the right side indicate full marks.
Answer all the questions. 5X 2=10
1. Answer any two of the following:
(a) X has 60% interest in a joint venture with Y. X sold a plant with w.d.v. `60 lacs for `80 lacs.
Calculate how much profit X should recognize in its books as per AS-27 in case the joint