2017: 1-4 Ms. Jaya started Jaya Business Ventures by bringing in cash of Rs.3,00,000. 2-4 Ms. Jaya paid Rs.22,500 in cash to purchase a computer with prelonded Tally 7.2. The computer does nor have any disposal value at the end of irs usual life of four years. All assers are to be depreciared using the straight line method. 3.4 Ms. Jaya opened a bank ale with HDFC Bank Bangalore for the firm by depositing cash of Rs.1,00,000. 4-4 Ms.Jaya had rented an office space for Rs.2,500 per month on April 1, 2017 and has now paid securiry deposit of Rs. 25,000 by Cheque. 5.4 Ms. Jaya hired Maya Nair as manager-operations on a monthly salary of Rs. 7,500. She also hired Vijay Narayan as assistant manager-marketing on a monthly salary of Rs.4,500. 10- Ms. Jaya made arrangement with Raj Travels so that at regular intervals she will receive bills for all Transport Bills 15. 4 Ms.Jaya issued Cheque and purchased the following fixed assets. 1. Cell phone for office use for Rs.6,000(useful life 5 years) 2. Furniture for R$.20,000/U.L. 8 Years) 3. Air conditioner for Rs.20,000(U.L. 6 Ycars) Electrical fittings for Rs.15,000(U.L. 10 Years) The assers does not have any disposal value at the end of their useful life. 16- Ms.Jaya obtained a mobile phone subscription with Planer Tele Communications Lid. by paying Security Deposit of Rs3,000 in cash 20- Ms.Jaya purchased stationery consumables worth Rs.12,500 from global House on credit 21- 23- Ms.Jaya entered into à contract with Silver Services for providing Consulting Services at a agreed price Rs.75,000. She received an advance of Rs.25,000 by cheque. Ms.Jaya deposited Rs.50,000 cash in HDFC bark. 25. Ms.Jaya received an invoice for Rs.6,000 raised by Ink and Paper Publisher for prinring of Office stationery 27- Ms. Jaya withdraws Rs7,500 cash for personal use. 30- Ms.Jaya Paid R.750 in cash towards office maintenance charges for april 2017. Prepare trail balance

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter4: Gross Income: Concepts And Inclusions

Section: Chapter Questions

Problem 33P

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2017: 1-4 Ms. Jaya started Jaya Business Ventures by bringing in cash of Rs.3,00,000. 2-4 Ms. Jaya paid Rs.22,500 in cash to purchase a computer with prelonded Tally 7.2. The computer does nor have any disposal value at the end of irs usual life of four years. All assers are to be depreciared using the straight line method. 3.4 Ms. Jaya opened a bank ale with HDFC Bank Bangalore for the firm by depositing cash of Rs.1,00,000. 4-4 Ms.Jaya had rented an office space for Rs.2,500 per month on April 1, 2017 and has now paid securiry deposit of Rs. 25,000 by Cheque. 5.4 Ms. Jaya hired Maya Nair as manager-operations on a monthly salary of Rs. 7,500. She also hired Vijay Narayan as assistant manager-marketing on a monthly salary of Rs.4,500. 10- Ms. Jaya made arrangement with Raj Travels so that at regular intervals she will receive bills for all Transport Bills 15. 4 Ms.Jaya issued Cheque and purchased the following fixed assets. 1. Cell phone for office use for Rs.6,000(useful life 5 years) 2. Furniture for R$.20,000/U.L. 8 Years) 3. Air conditioner for Rs.20,000(U.L. 6 Ycars) Electrical fittings for Rs.15,000(U.L. 10 Years) The assers does not have any disposal value at the end of their useful life. 16- Ms.Jaya obtained a mobile phone subscription with Planer Tele Communications Lid. by paying Security Deposit of Rs3,000 in cash 20- Ms.Jaya purchased stationery consumables worth Rs.12,500 from global House on credit 21- 23- Ms.Jaya entered into à contract with Silver Services for providing Consulting Services at a agreed price Rs.75,000. She received an advance of Rs.25,000 by cheque. Ms.Jaya deposited Rs.50,000 cash in HDFC bark. 25. Ms.Jaya received an invoice for Rs.6,000 raised by Ink and Paper Publisher for prinring of Office stationery 27- Ms. Jaya withdraws Rs7,500 cash for personal use. 30- Ms.Jaya Paid R.750 in cash towards office maintenance charges for april 2017. Prepare trail balance

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