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Q2. From the following transactions in the book of Dinchak Auto Car Centre. Prepare Cash Account. 2024
Nov 1. Cash Balance Rs.2,50,000.
4. Invoiced goods to Ashish & Co. Rs. 1,25,000 in cash
8. Paid for advertisement Rs. 30,000 to The Times of India.
12. Purchased goods from Prakash & Co. Rs.1,50,000 @ 18% GST.
15. Paid for Transport charges Rs. 10,000 @ 12% GST.
25. Paid to Prakash & Co. less 10% discount.
30. Sold Goods worth Rs 70,000 In cash.?
Nov 1. Cash Balance Rs.2,50,000.
4. Invoiced goods to Ashish & Co. Rs. 1,25,000 in cash
8. Paid for advertisement Rs. 30,000 to The Times of India.
12. Purchased goods from Prakash & Co. Rs.1,50,000 @ 18% GST.
15. Paid for Transport charges Rs. 10,000 @ 12% GST.
25. Paid to Prakash & Co. less 10% discount.
30. Sold Goods worth Rs 70,000 In cash.?
Most Upvoted Answer
Q2. From the following transactions in the book of Dinchak Auto Car Ce...
Cash Account for Dinchak Auto Car Centre
Below is the Cash Account prepared for the transactions occurring in November 2024.
Opening Cash Balance
- Cash balance as of November 1: Rs. 2,50,000
Cash Inflows
- November 4: Cash sales invoiced to Ashish & Co: Rs. 1,25,000
- November 30: Cash from sold goods: Rs. 70,000
Cash Outflows
- November 8: Paid for advertisement to The Times of India: Rs. 30,000
- November 12: Purchased goods from Prakash & Co: Rs. 1,50,000 + 18% GST = Rs. 1,77,000
- November 15: Paid transport charges: Rs. 10,000 + 12% GST = Rs. 11,200
- November 25: Paid to Prakash & Co. after 10% discount:
- Original Amount: Rs. 1,50,000
- Less Discount (10%): Rs. 15,000
- Amount Paid: Rs. 1,35,000
Summary of Cash Transactions
Total Cash Inflows
- Cash from Ashish & Co: Rs. 1,25,000
- Cash from sold goods: Rs. 70,000
- Total Inflows: Rs. 1,95,000
Total Cash Outflows
- Advertisement Payment: Rs. 30,000
- Purchase Payment (after discount): Rs. 1,35,000
- Transport Charges: Rs. 11,200
- Total Outflows: Rs. 1,76,200
Closing Cash Balance
- Opening Cash Balance: Rs. 2,50,000
- Total Cash Inflows: Rs. 1,95,000
- Total Cash Outflows: Rs. 1,76,200
- Closing Balance = Rs. 2,50,000 + Rs. 1,95,000 - Rs. 1,76,200 = Rs. 2,68,800
Final Cash Account Balance
- Closing Cash Balance as of November 30: Rs. 2,68,800
Below is the Cash Account prepared for the transactions occurring in November 2024.
Opening Cash Balance
- Cash balance as of November 1: Rs. 2,50,000
Cash Inflows
- November 4: Cash sales invoiced to Ashish & Co: Rs. 1,25,000
- November 30: Cash from sold goods: Rs. 70,000
Cash Outflows
- November 8: Paid for advertisement to The Times of India: Rs. 30,000
- November 12: Purchased goods from Prakash & Co: Rs. 1,50,000 + 18% GST = Rs. 1,77,000
- November 15: Paid transport charges: Rs. 10,000 + 12% GST = Rs. 11,200
- November 25: Paid to Prakash & Co. after 10% discount:
- Original Amount: Rs. 1,50,000
- Less Discount (10%): Rs. 15,000
- Amount Paid: Rs. 1,35,000
Summary of Cash Transactions
Total Cash Inflows
- Cash from Ashish & Co: Rs. 1,25,000
- Cash from sold goods: Rs. 70,000
- Total Inflows: Rs. 1,95,000
Total Cash Outflows
- Advertisement Payment: Rs. 30,000
- Purchase Payment (after discount): Rs. 1,35,000
- Transport Charges: Rs. 11,200
- Total Outflows: Rs. 1,76,200
Closing Cash Balance
- Opening Cash Balance: Rs. 2,50,000
- Total Cash Inflows: Rs. 1,95,000
- Total Cash Outflows: Rs. 1,76,200
- Closing Balance = Rs. 2,50,000 + Rs. 1,95,000 - Rs. 1,76,200 = Rs. 2,68,800
Final Cash Account Balance
- Closing Cash Balance as of November 30: Rs. 2,68,800
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Q2. From the following transactions in the book of Dinchak Auto Car Centre. Prepare Cash Account. 2024Nov 1. Cash Balance Rs.2,50,000.4. Invoiced goods to Ashish & Co. Rs. 1,25,000 in cash8. Paid for advertisement Rs. 30,000 to The Times of India.12. Purchased goods from Prakash & Co. Rs.1,50,000 @ 18% GST.15. Paid for Transport charges Rs. 10,000 @ 12% GST.25. Paid to Prakash & Co. less 10% discount.30. Sold Goods worth Rs 70,000 In cash.?
Question Description
Q2. From the following transactions in the book of Dinchak Auto Car Centre. Prepare Cash Account. 2024Nov 1. Cash Balance Rs.2,50,000.4. Invoiced goods to Ashish & Co. Rs. 1,25,000 in cash8. Paid for advertisement Rs. 30,000 to The Times of India.12. Purchased goods from Prakash & Co. Rs.1,50,000 @ 18% GST.15. Paid for Transport charges Rs. 10,000 @ 12% GST.25. Paid to Prakash & Co. less 10% discount.30. Sold Goods worth Rs 70,000 In cash.? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Q2. From the following transactions in the book of Dinchak Auto Car Centre. Prepare Cash Account. 2024Nov 1. Cash Balance Rs.2,50,000.4. Invoiced goods to Ashish & Co. Rs. 1,25,000 in cash8. Paid for advertisement Rs. 30,000 to The Times of India.12. Purchased goods from Prakash & Co. Rs.1,50,000 @ 18% GST.15. Paid for Transport charges Rs. 10,000 @ 12% GST.25. Paid to Prakash & Co. less 10% discount.30. Sold Goods worth Rs 70,000 In cash.? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Q2. From the following transactions in the book of Dinchak Auto Car Centre. Prepare Cash Account. 2024Nov 1. Cash Balance Rs.2,50,000.4. Invoiced goods to Ashish & Co. Rs. 1,25,000 in cash8. Paid for advertisement Rs. 30,000 to The Times of India.12. Purchased goods from Prakash & Co. Rs.1,50,000 @ 18% GST.15. Paid for Transport charges Rs. 10,000 @ 12% GST.25. Paid to Prakash & Co. less 10% discount.30. Sold Goods worth Rs 70,000 In cash.?.
Q2. From the following transactions in the book of Dinchak Auto Car Centre. Prepare Cash Account. 2024Nov 1. Cash Balance Rs.2,50,000.4. Invoiced goods to Ashish & Co. Rs. 1,25,000 in cash8. Paid for advertisement Rs. 30,000 to The Times of India.12. Purchased goods from Prakash & Co. Rs.1,50,000 @ 18% GST.15. Paid for Transport charges Rs. 10,000 @ 12% GST.25. Paid to Prakash & Co. less 10% discount.30. Sold Goods worth Rs 70,000 In cash.? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Q2. From the following transactions in the book of Dinchak Auto Car Centre. Prepare Cash Account. 2024Nov 1. Cash Balance Rs.2,50,000.4. Invoiced goods to Ashish & Co. Rs. 1,25,000 in cash8. Paid for advertisement Rs. 30,000 to The Times of India.12. Purchased goods from Prakash & Co. Rs.1,50,000 @ 18% GST.15. Paid for Transport charges Rs. 10,000 @ 12% GST.25. Paid to Prakash & Co. less 10% discount.30. Sold Goods worth Rs 70,000 In cash.? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Q2. From the following transactions in the book of Dinchak Auto Car Centre. Prepare Cash Account. 2024Nov 1. Cash Balance Rs.2,50,000.4. Invoiced goods to Ashish & Co. Rs. 1,25,000 in cash8. Paid for advertisement Rs. 30,000 to The Times of India.12. Purchased goods from Prakash & Co. Rs.1,50,000 @ 18% GST.15. Paid for Transport charges Rs. 10,000 @ 12% GST.25. Paid to Prakash & Co. less 10% discount.30. Sold Goods worth Rs 70,000 In cash.?.
Solutions for Q2. From the following transactions in the book of Dinchak Auto Car Centre. Prepare Cash Account. 2024Nov 1. Cash Balance Rs.2,50,000.4. Invoiced goods to Ashish & Co. Rs. 1,25,000 in cash8. Paid for advertisement Rs. 30,000 to The Times of India.12. Purchased goods from Prakash & Co. Rs.1,50,000 @ 18% GST.15. Paid for Transport charges Rs. 10,000 @ 12% GST.25. Paid to Prakash & Co. less 10% discount.30. Sold Goods worth Rs 70,000 In cash.? in English & in Hindi are available as part of our courses for UPSC.
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Here you can find the meaning of Q2. From the following transactions in the book of Dinchak Auto Car Centre. Prepare Cash Account. 2024Nov 1. Cash Balance Rs.2,50,000.4. Invoiced goods to Ashish & Co. Rs. 1,25,000 in cash8. Paid for advertisement Rs. 30,000 to The Times of India.12. Purchased goods from Prakash & Co. Rs.1,50,000 @ 18% GST.15. Paid for Transport charges Rs. 10,000 @ 12% GST.25. Paid to Prakash & Co. less 10% discount.30. Sold Goods worth Rs 70,000 In cash.? defined & explained in the simplest way possible. Besides giving the explanation of
Q2. From the following transactions in the book of Dinchak Auto Car Centre. Prepare Cash Account. 2024Nov 1. Cash Balance Rs.2,50,000.4. Invoiced goods to Ashish & Co. Rs. 1,25,000 in cash8. Paid for advertisement Rs. 30,000 to The Times of India.12. Purchased goods from Prakash & Co. Rs.1,50,000 @ 18% GST.15. Paid for Transport charges Rs. 10,000 @ 12% GST.25. Paid to Prakash & Co. less 10% discount.30. Sold Goods worth Rs 70,000 In cash.?, a detailed solution for Q2. From the following transactions in the book of Dinchak Auto Car Centre. Prepare Cash Account. 2024Nov 1. Cash Balance Rs.2,50,000.4. Invoiced goods to Ashish & Co. Rs. 1,25,000 in cash8. Paid for advertisement Rs. 30,000 to The Times of India.12. Purchased goods from Prakash & Co. Rs.1,50,000 @ 18% GST.15. Paid for Transport charges Rs. 10,000 @ 12% GST.25. Paid to Prakash & Co. less 10% discount.30. Sold Goods worth Rs 70,000 In cash.? has been provided alongside types of Q2. From the following transactions in the book of Dinchak Auto Car Centre. Prepare Cash Account. 2024Nov 1. Cash Balance Rs.2,50,000.4. Invoiced goods to Ashish & Co. Rs. 1,25,000 in cash8. Paid for advertisement Rs. 30,000 to The Times of India.12. Purchased goods from Prakash & Co. Rs.1,50,000 @ 18% GST.15. Paid for Transport charges Rs. 10,000 @ 12% GST.25. Paid to Prakash & Co. less 10% discount.30. Sold Goods worth Rs 70,000 In cash.? theory, EduRev gives you an
ample number of questions to practice Q2. From the following transactions in the book of Dinchak Auto Car Centre. Prepare Cash Account. 2024Nov 1. Cash Balance Rs.2,50,000.4. Invoiced goods to Ashish & Co. Rs. 1,25,000 in cash8. Paid for advertisement Rs. 30,000 to The Times of India.12. Purchased goods from Prakash & Co. Rs.1,50,000 @ 18% GST.15. Paid for Transport charges Rs. 10,000 @ 12% GST.25. Paid to Prakash & Co. less 10% discount.30. Sold Goods worth Rs 70,000 In cash.? tests, examples and also practice UPSC tests.
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