Class 11 Exam > Class 11 Questions > 1.Raghunath had the following transactions in...
Start Learning for Free
1.Raghunath had the following transactions in an accounting year 1.commenced business with cash Rs 50,000 2.paid into bank Rs 10,000 3. Purchase goods for cash Rs 20 ,000and credited Rs 30,000 4.solds goods for cash Rs 40,000 and costing Rs 30,000 5.Rent paid Rs 500 6.Rent outstanding Rs 100 7.Bought furniture Rs 5000 on credit 8.Bought Refrigerator for personal use Rs 5000 9.Purchase a motorcycle for cash Rs 20,000?
Most Upvoted Answer
1.Raghunath had the following transactions in an accounting year 1.com...
Transactions of Raghunath in an accounting year
- Commenced business with cash Rs 50,000
- Paid into bank Rs 10,000
- Purchased goods for cash Rs 20,000 and credited Rs 30,000
- Sold goods for cash Rs 40,000 and costing Rs 30,000
- Rent paid Rs 500
- Rent outstanding Rs 100
- Bought furniture Rs 5000 on credit
- Bought Refrigerator for personal use Rs 5000
- Purchased a motorcycle for cash Rs 20,000
Explanation of transactions
Commenced business with cash Rs 50,000
Raghunath started his business with an initial investment of Rs 50,000 in cash. This will be recorded as a capital investment in the books of accounts.
Paid into bank Rs 10,000
Raghunath deposited Rs 10,000 into his bank account. This will be recorded as a cash deposit in the bank account.
Purchased goods for cash Rs 20,000 and credited Rs 30,000
Raghunath purchased goods worth Rs 50,000, out of which he paid Rs 20,000 in cash and the remaining Rs 30,000 is on credit. The cash purchase will be recorded as a cash outflow and the credit purchase will be recorded as a liability.
Sold goods for cash Rs 40,000 and costing Rs 30,000
Raghunath sold goods worth Rs 40,000, which cost him Rs 30,000. The difference of Rs 10,000 will be recorded as revenue in the books of accounts.
Rent paid Rs 500
Raghunath paid rent of Rs 500, which will be recorded as an expense in the books of accounts.
Rent outstanding Rs 100
Raghunath has an outstanding rent of Rs 100, which will be recorded as a liability in the books of accounts.
Bought furniture Rs 5000 on credit
Raghunath bought furniture worth Rs 5000 on credit, which will be recorded as a liability in the books of accounts.
Bought Refrigerator for personal use Rs 5000
Raghunath bought a refrigerator for personal use worth Rs 5000, which will not be recorded in the books of accounts as it is not related to the business.
Purchased a motorcycle for cash Rs 20,000
Raghunath purchased a motorcycle for Rs 20,000, which will be recorded as a fixed asset in the books of accounts.
Community Answer
1.Raghunath had the following transactions in an accounting year 1.com...
Cash a/c dr 50,000
to capital a/c 50,009
to capital a/c 50,009
Attention Class 11 Students!
To make sure you are not studying endlessly, EduRev has designed Class 11 study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in Class 11.
|
Explore Courses for Class 11 exam
|
|
Similar Class 11 Doubts
Top Courses for Class 11View all
1.Raghunath had the following transactions in an accounting year 1.commenced business with cash Rs 50,000 2.paid into bank Rs 10,000 3. Purchase goods for cash Rs 20 ,000and credited Rs 30,000 4.solds goods for cash Rs 40,000 and costing Rs 30,000 5.Rent paid Rs 500 6.Rent outstanding Rs 100 7.Bought furniture Rs 5000 on credit 8.Bought Refrigerator for personal use Rs 5000 9.Purchase a motorcycle for cash Rs 20,000?
Question Description
1.Raghunath had the following transactions in an accounting year 1.commenced business with cash Rs 50,000 2.paid into bank Rs 10,000 3. Purchase goods for cash Rs 20 ,000and credited Rs 30,000 4.solds goods for cash Rs 40,000 and costing Rs 30,000 5.Rent paid Rs 500 6.Rent outstanding Rs 100 7.Bought furniture Rs 5000 on credit 8.Bought Refrigerator for personal use Rs 5000 9.Purchase a motorcycle for cash Rs 20,000? for Class 11 2024 is part of Class 11 preparation. The Question and answers have been prepared according to the Class 11 exam syllabus. Information about 1.Raghunath had the following transactions in an accounting year 1.commenced business with cash Rs 50,000 2.paid into bank Rs 10,000 3. Purchase goods for cash Rs 20 ,000and credited Rs 30,000 4.solds goods for cash Rs 40,000 and costing Rs 30,000 5.Rent paid Rs 500 6.Rent outstanding Rs 100 7.Bought furniture Rs 5000 on credit 8.Bought Refrigerator for personal use Rs 5000 9.Purchase a motorcycle for cash Rs 20,000? covers all topics & solutions for Class 11 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for 1.Raghunath had the following transactions in an accounting year 1.commenced business with cash Rs 50,000 2.paid into bank Rs 10,000 3. Purchase goods for cash Rs 20 ,000and credited Rs 30,000 4.solds goods for cash Rs 40,000 and costing Rs 30,000 5.Rent paid Rs 500 6.Rent outstanding Rs 100 7.Bought furniture Rs 5000 on credit 8.Bought Refrigerator for personal use Rs 5000 9.Purchase a motorcycle for cash Rs 20,000?.
1.Raghunath had the following transactions in an accounting year 1.commenced business with cash Rs 50,000 2.paid into bank Rs 10,000 3. Purchase goods for cash Rs 20 ,000and credited Rs 30,000 4.solds goods for cash Rs 40,000 and costing Rs 30,000 5.Rent paid Rs 500 6.Rent outstanding Rs 100 7.Bought furniture Rs 5000 on credit 8.Bought Refrigerator for personal use Rs 5000 9.Purchase a motorcycle for cash Rs 20,000? for Class 11 2024 is part of Class 11 preparation. The Question and answers have been prepared according to the Class 11 exam syllabus. Information about 1.Raghunath had the following transactions in an accounting year 1.commenced business with cash Rs 50,000 2.paid into bank Rs 10,000 3. Purchase goods for cash Rs 20 ,000and credited Rs 30,000 4.solds goods for cash Rs 40,000 and costing Rs 30,000 5.Rent paid Rs 500 6.Rent outstanding Rs 100 7.Bought furniture Rs 5000 on credit 8.Bought Refrigerator for personal use Rs 5000 9.Purchase a motorcycle for cash Rs 20,000? covers all topics & solutions for Class 11 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for 1.Raghunath had the following transactions in an accounting year 1.commenced business with cash Rs 50,000 2.paid into bank Rs 10,000 3. Purchase goods for cash Rs 20 ,000and credited Rs 30,000 4.solds goods for cash Rs 40,000 and costing Rs 30,000 5.Rent paid Rs 500 6.Rent outstanding Rs 100 7.Bought furniture Rs 5000 on credit 8.Bought Refrigerator for personal use Rs 5000 9.Purchase a motorcycle for cash Rs 20,000?.
Solutions for 1.Raghunath had the following transactions in an accounting year 1.commenced business with cash Rs 50,000 2.paid into bank Rs 10,000 3. Purchase goods for cash Rs 20 ,000and credited Rs 30,000 4.solds goods for cash Rs 40,000 and costing Rs 30,000 5.Rent paid Rs 500 6.Rent outstanding Rs 100 7.Bought furniture Rs 5000 on credit 8.Bought Refrigerator for personal use Rs 5000 9.Purchase a motorcycle for cash Rs 20,000? in English & in Hindi are available as part of our courses for Class 11.
Download more important topics, notes, lectures and mock test series for Class 11 Exam by signing up for free.
Here you can find the meaning of 1.Raghunath had the following transactions in an accounting year 1.commenced business with cash Rs 50,000 2.paid into bank Rs 10,000 3. Purchase goods for cash Rs 20 ,000and credited Rs 30,000 4.solds goods for cash Rs 40,000 and costing Rs 30,000 5.Rent paid Rs 500 6.Rent outstanding Rs 100 7.Bought furniture Rs 5000 on credit 8.Bought Refrigerator for personal use Rs 5000 9.Purchase a motorcycle for cash Rs 20,000? defined & explained in the simplest way possible. Besides giving the explanation of
1.Raghunath had the following transactions in an accounting year 1.commenced business with cash Rs 50,000 2.paid into bank Rs 10,000 3. Purchase goods for cash Rs 20 ,000and credited Rs 30,000 4.solds goods for cash Rs 40,000 and costing Rs 30,000 5.Rent paid Rs 500 6.Rent outstanding Rs 100 7.Bought furniture Rs 5000 on credit 8.Bought Refrigerator for personal use Rs 5000 9.Purchase a motorcycle for cash Rs 20,000?, a detailed solution for 1.Raghunath had the following transactions in an accounting year 1.commenced business with cash Rs 50,000 2.paid into bank Rs 10,000 3. Purchase goods for cash Rs 20 ,000and credited Rs 30,000 4.solds goods for cash Rs 40,000 and costing Rs 30,000 5.Rent paid Rs 500 6.Rent outstanding Rs 100 7.Bought furniture Rs 5000 on credit 8.Bought Refrigerator for personal use Rs 5000 9.Purchase a motorcycle for cash Rs 20,000? has been provided alongside types of 1.Raghunath had the following transactions in an accounting year 1.commenced business with cash Rs 50,000 2.paid into bank Rs 10,000 3. Purchase goods for cash Rs 20 ,000and credited Rs 30,000 4.solds goods for cash Rs 40,000 and costing Rs 30,000 5.Rent paid Rs 500 6.Rent outstanding Rs 100 7.Bought furniture Rs 5000 on credit 8.Bought Refrigerator for personal use Rs 5000 9.Purchase a motorcycle for cash Rs 20,000? theory, EduRev gives you an
ample number of questions to practice 1.Raghunath had the following transactions in an accounting year 1.commenced business with cash Rs 50,000 2.paid into bank Rs 10,000 3. Purchase goods for cash Rs 20 ,000and credited Rs 30,000 4.solds goods for cash Rs 40,000 and costing Rs 30,000 5.Rent paid Rs 500 6.Rent outstanding Rs 100 7.Bought furniture Rs 5000 on credit 8.Bought Refrigerator for personal use Rs 5000 9.Purchase a motorcycle for cash Rs 20,000? tests, examples and also practice Class 11 tests.
|
|
Explore Courses for Class 11 exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup