Task 2: Asset Purchases, Returns & Compound Entries

Company Name: Zenith Enterprises | Financial Year: 2026–2027

Student Instructions:

S.No Date Transaction Details Amount (₹)
1 01-May-2026 Started business with Cash ₹3,00,000 and Cheque (HDFC Bank) ₹4,00,000 7,00,000
2 03-May-2026 Purchased Office Furniture for cash (Fixed Asset) 35,000
3 05-May-2026 Purchased goods on credit from Global Suppliers 80,000
4 08-May-2026 Returned damaged goods back to Global Suppliers 5,000
5 11-May-2026 Sold goods on credit to Metro Retailers 65,000
6 14-May-2026 Paid Electricity Bill for the office via HDFC Bank Net Banking 4,200
7 18-May-2026 Received Cheque from Metro Retailers in full settlement (Allowed Discount ₹1,000) 64,000
8 22-May-2026 Paid HDFC Bank Cheque to Global Suppliers in full settlement (Received Discount ₹2,000) 73,000
9 25-May-2026 Withdrew Cash from HDFC Bank for office use 15,000
10 28-May-2026 Proprietor withdrew Cash for personal use (Drawings) 10,000

Quick Voucher Shortcut Reference for Students:

F4: Contra (Bank/Cash)  |  F5: Payment  |  F6: Receipt  |  F7: Journal (Debit Note/Fixed Assets)  |  F8: Sales  |  F9: Purchase