Special Transactions

 

 

Q 1. Appreciation value of land of rs. 10,000

ANS.-  Transaction between real a/c to nominal a/c

[Debit what comes in and credit all incomes & gains]

Transaction b/w land a/c to appreciation a/c

Land a/c -----------------------dr, 10,000

                        To, appreciation a/c                 10,000

[Being:- appreciation value of land]

Q 2. Depriciation value of furniture of rs. 100

ANS.-  Transaction between nominal a/c to real a/c

[Debit what comes in and credit all incomes & gains]

Transaction b/w depreciation a/c to furniture a/c

            Depreciation a/c ---------------------dr, 100

                        To, Furniture a/c                                  100

            [Being:- depreciation value of furniture]

Q 3. Appreciation value of furniture of rs. 1000 and machinary of rs. 5000

ANS.- Transaction between real a/c + real a/c  to nominal a/c

[Debit what comes in + Debit what comes in and Credit all incomes & gains]

Transaction b/w furniture a/c + machinary a/c to appreciation a/c

            Furniture a/c ---------------------------dr, 1000

            Machinary a/c -------------------------dr, 5000

                        To, appreciation a/c                          6000

            [Being :-Appreciation value of furniture  and machinary]

Q 4. Depreciation value of furniture of rs. 100, building of rs. 5,000 and car of rs. 2,000

ANS.- Transaction between nominal a/c to real a/c + real a/c + real a/c

[Debit all expenses and losses and credit what goes out + credit what goes out + credit what goes  out]

Transaction b/w depreciation a/c to furniture a/c + building a/c + car a/c

Depreciation a/c --------------------------dr, 7100

            To, furniture a/c                                  100]

            To, building a/c                                   5000

            To, car a/c                                            2000

[Being:- depreciation value of furniture, building and car]

Q 5. Purchase goods from mohan by cash 10000 and by cheque 5000

ANS.- Transaction between real a/c + real a/c  to personal a/c

[Debit what comes in and credit what goes out + credit the giver]

Transaction b/w purchase goods a/c to cash a/c + bank a/c

            Purchase goods a/c ------------------------dr, 15000

                        To, cash a/c                                                     100000

                        To, bank                                                          5000

[Being:- purchase goods from mohan by cash and by cheque]

Q 6.Pur.goods from mohan of rs.1,00,000 & paid them by cash 50,000 & by cheque 30,000

ANS.- Transaction between real a/c  to real a/c + personal a/c + personal a/c

[Debit what comes in and credit what goes out + credit the giver + credit the giver ]

Transaction b/w purchase goods a/c to cash a/c + bank a/c + mohan a/c

Purchase a/c --------------------------------dr, 1,00,000

            To, cash a/c                                                     50,000

            To, bank a/c                                                     30,000

                        To, mohan a/c                                                  20,000

            [Being:- purchase goods from mohan and paid them by cash and by cheque]

Q 7. Sold goods to rohan of rs. 1,00,000 and received rs. 30,000 by sbi cheque

ANS.- Transaction between personal a/c + personal a/c to real a/c

[Debit the receiver + debit the receiver and credit what goes out]

Transaction b/w sbi a/c + rohan a/c to sales goods a/c

Sbi a/c ------------------------------dr, 30,000

Rohan a/c --------------------------dr, 70,000

                        To, sales goods a/c                        1,00,000

[Being:- sold goods to rohan & received by sbi cheque]

Q 8. Shri ram started business with cash of rs. 1,00,000

ANS.- Transaction between real a/c to personal a/c

[Debit what comes in and credit the giver]

Transaction b/w cash a/c to capital a/c

Cash a/c -----------------------dr, 1,00,000

                        To, capital a/c                          1,00,000

[Being:- shriram started business with cash]

Q 9. A merchant started business by cash of rs. 1,00,000, by cheque of rs. 1,00,000,     building of rs. 3,04,042 and furniture of rs. 1,08,039.

ANS.- Transaction between real a/c + personal a/c +real a/c to personal a/c

[Debit what comes in + debit the  receiver + debit what comes in+ debit what comes in and credit the giver]

Transaction b/w cash a/c + bank a/c +building a/c + furniture a/c to credit the giver

Cash a/c -----------------------------dr, 1,00,000

Bank a/c -----------------------------dr, 1,00,000

Building a/c ------------------------dr, 3,07,042

Furniture a/c ----------------------dr, 1,08,039

                        To, capital a/c                                      6,15,081

[Being:- a merchant started business by cash, by cheque, building and furniture.]

Q 10. Loss by fire of rs. 1,000

ANS.- Transaction between nominal a/c to real a/c

[Debit all expenses and losses & credit what goes out]

Transaction b/w loss by fire a/c to purchase a/c

Loss by fire a/c ----------------------dr, 1,000

                        To, purchase a/c                           1,000

[Being :- loss by fire]

Q 11. Loss by theif of rs. 500

ANS.- Transaction between nominal a/c to real a/c

[Debit all expenses and losses & credit what goes out]

Transaction b/w loss by thief a/c to purchase a/c

Loss by thief a/c ---------------------------dr, 500

                        To purchase a/c                                   500

[Being:- loss by thief]