"Fashion Planet".He initially Invested 3,00,000 and took a loan for rs.3,00,000 from bank on a interest rate 5% per annum for a year (to be accounted at the ending of the financial year). He bought shop for rent 10,000 to be paid monthly and paid brokerage rs.1,000 at the time of renting the shop. He also hired 6 employees as a helping hand on a salary of rs. 5,000 each per month. The transaction that took place for Mr. Kamal for the financial year 2022-23 are as follows :- · April 2022 1st Started business with cash 3,00,000 and loan rs. 3,00,000. 3rd Purchased weaving machine for 60,000 fabrics 10,000. 10th Bought a computer for 40,000 at 4% trade discount and a t-shirt printing machine for 60,000. 12th Paid insurance premium by cheque for rs. 1,000. 20th Purchased more fabrics for rs 20,000 for cash and 5,000 on credit form Mr. prakash. 21st Sold goods for 50,000. 28th Spent on brand advertisement 25,000. 30th Paid salaries to the worker rs. 30,000 Paid rent rs. 10,000 and electricity bill 1,000. · MAY 2022 1st Purchased 4 Sweing Machine 5000 each. 8th Sold good to Amit rs. 30,000. 12th Opened bank account in Hdfc bank and paid rs. 15,000. 16th Sales made rs 60,000 received in cash. 19th rs. 10,000 given away as charity. 31st rent paid for the shop rs.10,000, electricy bill for rs. 2,000 , water bill for rs. 1,000. · JUNE 2022 1st Fabrics purchased from rakesh for rs. 30,000 and receive a trade discount of 12% 5th sold good for rs. 1,00,000 , half of it received by cheaque and rest by cash. 7th Paid salary to one of the worker for 4 months 20,000. 14th Purchased a Woolen mill for 40,000 and rate of depriciation is 10% 20th trade expenses rs. 500 Goods sold to mohan for 40,000 25th rs.4,000 was withdrawal by proprietor for private use. 28th Interest on drawing rs.100 30th Paid mothly salaries 25,000(one worker was already paid).Electricity bill 2,000. Paid rent for shop 10,000. · JULY 2022 9th Bought a fiber mill for 50,000 and paid 500 for installation and 100 for carriage. 15th Amit became insolvent and 10 paise in a rupee could be received form him by cheque. 16th paid to Mr.prakash in full and final statement rs. 4,000. 21st sold goods to mohit for rs. 50,000 at 10% trade discount . Half of the amount received at the time of purchase by cheque. 23rd Paid bank charges 100. 28th Sold goods worth rupees 1,00,000 31st Paid salaries to worker 25,000 Paid rent rs.10,000. Paid electricity and water bills amounting to rs. 5,000. all are paid by cheque goods sold to shyam on credit worth 10,000. · August 2022 1st weawing machine broke down and paid for repairs rs.2,000. 5th Brand advertisement for rs. 11,000 12th Purchased fabrics and wools on credit from farhan worth 10,000. 16th Sales made 1,50,000. 21st commission received rs. 2,000. 23rd shyam returned goods worth 2,000. 28th mohan returned goods 10,000 29th mohan got insolvent and onlu 60% of the amount was received. 31st Paid rent 10,000 , Salaries paid 25,000 , electricity bill and water bill for rs. 2,000 . All the expenses paid by cheque. · September 2022 1st Goods taken away by proprietor for personal use rs.10,000. 3rd received a bulk order for a fashion show from mrs. Aahan worth 2,00,000. 8th banked rs.5,000. 13th purchased goods worth rs. 50,000 at 5% cash discount and 5% trade discount half payment made by cash and cheque at the time purchase . 23rdgoods given away as charity worth rs.20,00. 25th payment made to rakesh rs. 35,000 to settle his account . 26th Sales made rs.85,000 petty expenses rs. 500 27th took a loan from Mahesh for rs.60,000. 30th Paid rent rs.10,000 , paid salary rs.30,000 and paid electricity and water bils rs.5,000 cash withdrawn from bank 1000 · OCTOBER 2022 4th bought 4 cloth stand worth 5,000 each (20,000) payment made by cheque. 10th Goods worth rs.20,000 were destroyed by fire. 11th filled a claim in insurance company. 12th Insurance company admitted 70% loss. 13th Insurance company paid the amount . 16th miscellaneous expense rs.50. 20th sold goods rs.3,00,000 rs.10,000 deposited in bank. 31st Proprietor withdrew cash for personal use 4,000. Paid rent for shop 10,000 Paid salaries rs. 30,000 · November 2022 12th received rs.6,000 from shyam and discount allowed 2,000. 14th A regular coustomer Dharma paid in advace for further sales rs. 5,000. 18th Purchased a new sweing machine worth 5,000. 24th paid outstanding expenses worth rs. 800 30th Salaries paid 30,000 Rent paid 10,000 · December 2022 1st Repairs made for machines rs 10,000. 12stpaid life insurance premium by cheque rs.8,000 and withdrew goods for personal use worth 4,000. 31st Paid rent 10,000 salaries paid 30,000 expenses 1,000 · JANUARY 2023