2. Madan commenced business on 1st January, 2024 introducing capital in cash ₹1,00,000. His other business transactions during the month were as follows:
| 2024 | ₹ | |
|---|---|---|
| Jan.01 | Started business with cash | 1,00,000 |
| Jan.02 | Bought goods for cash | 20,000 |
| Jan.03 | Sold goods for cash | 7,000 |
| Jan.15 | Sold goods to Shravan | 6,000 |
| Jan.18 | Bought goods on credit from Anurag | 50,000 |
| Jan.19 | Goods returned to Anurag | 5,000 |
| Jan.20 | Sold goods for cash | 30,000 |
| Jan.22 | Paid electricity bill | 1,000 |
| Jan.28 | Paid telephone bill | 500 |
| Jan.29 | Paid rent | 800 |
| Jan.31 | Paid wages | 3,000 |
T.S.Grewal/2024 Edition/Practical Problems/Q-02
For full question, please refer to the text book T.S.Grewal’s Double Entry Book Keeping-Financial Accounting, Textbook for CBSE Class XI published by Sultan Chand & Sons Pvt. Ltd.