Record the following transactions of Arun Icecreams for the year 2014-15

2014

Apr 1       Arun started business with Rs. 10,000

Apr 2       Bought furniture for Rs. 500 from Shyam Furniture Co.

May 31    Bought Goods for Rs. 3,000 from Ram

Jun 2        Purchased from Suman&Co Rs. 2,000

Jul 31      Sold goods to Mr. Raju for Rs. 10,500

Aug 31    Paid salaries Rs. 1000

Nov 2      Paid to Shyam Furniture co. Rs. 500

Dec 31     Paid Suman &Co Rs. 1500 in full settlement of their dues Rs. 2000

2015

Feb 2       Received in cash the dividends Rs. 300

Solution:

Trail Balance: 24,300/-

Gross Profit: 5,500/-; Net Profit: 5,300

Balance Sheet:18,300/-

Video Solution: Tally ERP9