Record the following transaction of Uday (P) Ltd for the year 2013-14

2013

Apr 1         Uday Started Business with Rs. 1,00,000/- by way of bank cheque

May 1        He withdrew from bank Rs. 70,000/-

Jun 2         Purchased material for business Rs. 10,000/-

Aug 1        Bought material Rs. 20,000/- on credit from Ramesh

Sep 1         General Expenses Paid Rs. 5000/-

Oct 1         Purchased machinery from Krishna worth Rs. 30,000/- and paid to him by way of cheque.

Oct 2         Cash Sales Rs. 50,000/-

Nov 1        Carraige Inwards Rs. 2000/-

Dec 1         Printing &Stationary Rs. 1,000/-

Dec 2         Production Wages Rs. 5,000/-

Dec 2         Insurance paid Rs. 3,000/-

Dec 31       Sold goods to Venkat on credit Rs. 50,000/-

Dec 31       Paid Salaries Rs. 2,000/-

2014

Mar 1        Recovered cash from Venkat Rs. 49,000/- and discount allowed Rs. 1,000/-

Mar 31      Trade Expense Rs. 2,000/-

Mar 31      Power &Fuel Rs. 1,000/-

Solution:

T.B.: 2,20,000/-

G.P.: 62,000/-; N.P.: 48,000/-

B/s: 1,68,000/-