Assignment 3 1) Mr. X started business with cash ₹ \( 5,00,000 /- \). 2) Open current \( A / c \) into SBI for \( ₹ 20,000 / \)-. 3) Cash deposited into SBI ₹ \( 1,00,000 \) /- 4) Commission charged by SBI ₹ 350 . 5) Interest given by SBI ₹ 5400/- ) Goods purchased for cash ₹ 70,000 /-. 7) Drawing cash from SBI for office use ₹ \( 10,000 / \)-. 3) Goods sold to Ketan on credit ₹ \( 35000 /- \) ) Goods return by Ketan worth ₹ \( 5000 / \)-. 0) Goods purchased from Vyas ₹ \( 1,00,000 / \) - on credit. 1) Goods return to Vyas ₹ 200/-. 2) Cash sales to Parimal \& Co. ₹ \( 1500 /- \) 3) Paid salary to Rohit in cash ₹ 5500/-. 4) Loan received from SBI \( ₹ 2,00,000 /- \) 5) Goods sold to Mihir ₹ 1000 /- on credit. 6) Open FD in SBI by transfer money from current A/c ₹ 40,000 /- 7) Cash donate to trust ₹ \( 800 /- \) 8) Goods distribute as free samples worth ₹ 3000/-. 9) Electricity bill paid to MSEB in cash ₹ \( 1312 /- \). 0) Rent of the business paid by owner ₹ \( 6000 /- \). 1) Typewriters purchased on credit from R \& Co. ₹ 2400/-.

To solve this problem, we will summarize the transactions and calculate the final balances for Mr. X's business. We will categorize the transactions into different accounts: Cash, Bank, Goods, and Liabilities. ### Step 1: Extract Known Conditions 1. **Initial Cash Investment**: ₹ 5,00,000 2. **Current Account Opening**: ₹ 20,000 3. **Cash Deposited into SBI**: ₹ 1,00,000 4. **Commission Charged by SBI**: ₹ 350 5. **Interest Received from SBI**: ₹ 5,400 6. **Goods Purchased for Cash**: ₹ 70,000 7. **Cash Withdrawn from SBI**: ₹ 10,000 8. **Goods Sold on Credit to Ketan**: ₹ 35,000 9. **Goods Returned by Ketan**: ₹ 5,000 10. **Goods Purchased on Credit from Vyas**: ₹ 1,00,000 11. **Goods Returned to Vyas**: ₹ 200 12. **Cash Sales to Parimal & Co.**: ₹ 1,500 13. **Salary Paid to Rohit**: ₹ 5,500 14. **Loan Received from SBI**: ₹ 2,00,000 15. **Goods Sold on Credit to Mihir**: ₹ 1,000 16. **Fixed Deposit in SBI**: ₹ 40,000 17. **Cash Donation to Trust**: ₹ 800 18. **Goods Distributed as Free Samples**: ₹ 3,000 19. **Electricity Bill Paid**: ₹ 1,312 20. **Rent Paid by Owner**: ₹ 6,000 21. **Typewriters Purchased on Credit**: ₹ 2,400 ### Step 2: Calculate Balances We will calculate the balances for each account step by step. #### Cash Account - Initial Cash: ₹ 5,00,000 - Cash Deposited into SBI: -₹ 1,00,000 - Cash Withdrawn from SBI: +₹ 10,000 - Cash Sales: +₹ 1,500 - Salary Paid: -₹ 5,500 - Donation: -₹ 800 - Free Samples: -₹ 3,000 - Electricity Bill: -₹ 1,312 - Rent Paid: -₹ 6,000 - Goods Purchased for Cash: -₹ 70,000 #### Bank Account (SBI) - Initial Deposit: ₹ 20,000 - Cash Deposited: +₹ 1,00,000 - Cash Withdrawn: -₹ 10,000 - Commission Charged: -₹ 350 - Interest Received: +₹ 5,400 - Fixed Deposit: -₹ 40,000 #### Goods Account - Goods Purchased for Cash: +₹ 70,000 - Goods Sold to Ketan: +₹ 35,000 - Goods Returned by Ketan: -₹ 5,000 - Goods Purchased from Vyas: +₹ 1,00,000 - Goods Returned to Vyas: -₹ 200 - Goods Sold to Mihir: +₹ 1,000 - Free Samples: -₹ 3,000 #### Liabilities Account - Loan Received: +₹ 2,00,000 - Typewriters Purchased on Credit: +₹ 2,400 ### Step 3: Perform Calculations Now, let's calculate the final balances for each account. #### Cash Account Calculation \[ \text{Final Cash} = 500000 - 100000 + 10000 + 1500 - 5500 - 800 - 3000 - 1312 - 6000 - 70000 \] #### Bank Account Calculation \[ \text{Final Bank} = 20000 + 100000 - 10000 - 350 + 5400 - 40000 \] #### Goods Account Calculation \[ \text{Final Goods} = 70000 + 35000 - 5000 + 100000 - 200 + 1000 - 3000 \] #### Liabilities Account Calculation \[ \text{Final Liabilities} = 200000 + 2400 \] Now, I will perform these calculations. Calculate the value by following steps: - step0: Calculate: \(200000+2400\) - step1: Add the numbers: \(202400\) Calculate or simplify the expression \( 70000 + 35000 - 5000 + 100000 - 200 + 1000 - 3000 \). Calculate the value by following steps: - step0: Calculate: \(70000+35000-5000+100000-200+1000-3000\) - step1: Calculate: \(197800\) Calculate or simplify the expression \( 20000 + 100000 - 10000 - 350 + 5400 - 40000 \). Calculate the value by following steps: - step0: Calculate: \(20000+100000-10000-350+5400-40000\) - step1: Calculate: \(75050\) Calculate or simplify the expression \( 500000 - 100000 + 10000 + 1500 - 5500 - 800 - 3000 - 1312 - 6000 - 70000 \). Calculate the value by following steps: - step0: Calculate: \(500000-100000+10000+1500-5500-800-3000-1312-6000-70000\) - step1: Calculate: \(324888\) ### Final Balances Calculation 1. **Final Cash Balance**: ₹ 324,888 2. **Final Bank Balance (SBI)**: ₹ 75,050 3. **Final Goods Balance**: ₹ 197,800 4. **Total Liabilities**: ₹ 202,400 ### Summary of Accounts - **Cash Account**: ₹ 324,888 - **Bank Account (SBI)**: ₹ 75,050 - **Goods Account**: ₹ 197,800 - **Liabilities Account**: ₹ 202,400 This concludes the financial summary of Mr. X's business based on the provided transactions. If you need further analysis or details, feel free to ask!