7. Prepare Two Column Cash Book from the following transactions and balance the book on 31st Jan., 2023
| 2023 | |
|---|---|
| Jan. 1 | Cash in hand ₹50,000; Bank overdraft ₹1,90,000. |
| Jan. 2 | Purchased goods from Rajesh Kumar of the list price of ₹50,000 at 5% trade discount and payment made by cheque. |
| Jan. 6 | Goods sold for ₹80,000 and payment received by cheque. Cheque deposited into Bank on same day. |
| Jan. 10 | Goods purchased for cash ₹19,800. |
| Jan. 15 | Furniture sold for ₹1,77,000 and payment received by cheque & cheque deposited into Bank on same day. |
| Jan. 22 | Cash received from Jai ₹14,780 in full settlement of his account of ₹15,000. |
| Jan. 18 | Salaries paid ₹4,500. |
| Jan. 21 | Settled the amount due to Ram ₹2,000 by paying cash ₹1,910. |
| Jan. 23 | Paid Life Insurance premium by cheque ₹1,500. |
| Jan. 31 | Deposited with bank the entire balance after retaining ₹7000 cash in hand. |
D.K.Goel/2024 Edition/Practical Questions/Q-07
For full question, please refer to the text book Accountancy Class-XI by Mr. D.K.Goel published by Avichal Publishing Company