FMS Sem II ACM Work sheet 1 PROBLEM ONE Identify transactions and classify them into Real/Nominal/Personal and

nd apply the rules. 1. Mr. Singh, a sole proprietor, commenced business with a capital of Rs.1,00,000. 2. Paid business rent, Rs.4000 3. Paid wages, Rs.1200 4. Bought supplies for cash, Rs.150 5. Insurance premium , Rs.600 6. Collected Rs.5,000 from a customer for services rendered. 7. Rendered services for another customer for Rs. 4,000. 8. Signed a note payable with a bank and collected Rs.15,000 cash. 9. Purchased supplies costing Rs.200 on credit from Raju. 10. Paid for the supplies to Raju PROBLEM TWO Identify transactions and classify them into Real/Nominal/Personal and apply the rules. 1. Ms. Janaki , sole proprietor, contributed Rs.1,50,000 for starting business 2. Openidn bank account with Rs.50,000. 3. Paid advertising, Rs.2000 4. Paid utilities, Rs.3000 5. Bought supplies for cash, Rs.200 6. Purchased insurance. Rs.700 7. Purchased goods Rs.15,000 8. Sold goods to Rakesh Rs.4,000 for cash . 9. Sold goods to X & Co. Rs.1,000. 10. Received Rs.3800 cash from Rakesh 11. Purchased goods from Prashant Rs.10,000 12. Paid Prashant 9,800. 13. Purchased supplies costing $300 on credit. 14. Paid rent Rs.5000 15. Ms.Janaki withdrew Rs.1,000 cash for personal use

PROBLEM THREE Identify transactions and classify them into Real/Nominal/Personal and apply the rules. Mr Ashok commenced business on 1st January, 1992 with a capital of Rs.1,00,000 in cash Jan 1 Paid rent by cheque 1000 Bought goods for cash 2000 2 Sold good to Rahul & Co.(Credit) 3800 4 Paid for printing and Stationery 300 7 Bought goods from Bhim (Cr.) 17000 11 Sold goods to Madan on credit 9000 15 Sold goods for cash 9000 20 Paid wages 500 21 Rahul & co. paid 3800 23 Paid cheque to Ram Singh on a/c 8000 24 Cash sales 7000 25 Paid into bank 6000 28 Paid for Advertisement by cheque 1000 29 Paid for Building repairs 700 30 Madan paid 4500 31 Withdrew cash personal use 500