REVISIONARY EXERCISE - 6
1.4.2012 - Capital invested and commenced a business Rs.2,00,000
5.4.2012 - Purchases Order placed with Sumeet and Company for 200 Mixies at Rs.2000 each; due on 1.5.2012 with 30 days credit
7.4.2012 - Cash deposited into State Bank of India Rs.1,20,000
1.5.2012 - 180 Mixies dispatched by Sumeet and Company as per our Order.
2.5.2012 - Sales Order received from Balasubramaniam Enterprises for 100 Mixies at Rs.2500 each; due on 4.5.2012 with 10 days credit
4.5.2012 - Sales made to Balasubramaniam Enterprises 90 Mixies today.
15.5.2012 - Cheque received from Balasubramaniam Enterprises for Rs.2,00,000
16.5.2012 - Payment made to Sumeet and Company Rs.3,00,000 by cheque.
Purchase order outstandings: 20 mixies
Sales order outstandings: 10 mixies
Bills Payable (Sumeet and Co): Rs.60,000
Bills Receivable (Balasubramaniam Enterprises): Rs.25,000