1. General Journal On January 1", 2018 Mr. Aga commenced business named M/s Aga Sons with cash investment of Rs.210,000 and completed following transactions during the month of January. January 1. Opened a bank account and deposited cash Rs.120,000. 6. Purchased merchandise from Anum Traders Rs.36,000. 11. Counter sales of Rs.16,000 of which 60% deposited into bank. 20. Cash paid on purchase of goods Rs.11,000. 25. Sold merchandise to Unique & Co. Rs.15,000 on credit. 29. Paid salaries to staff and house rent of his residency for the month by cheques Rs.12,000 and Rs.7,000 respectively. Required: Record the above transactions in general Journal.
1. General Journal On January 1", 2018 Mr. Aga commenced business named M/s Aga Sons with cash investment of Rs.210,000 and completed following transactions during the month of January. January 1. Opened a bank account and deposited cash Rs.120,000. 6. Purchased merchandise from Anum Traders Rs.36,000. 11. Counter sales of Rs.16,000 of which 60% deposited into bank. 20. Cash paid on purchase of goods Rs.11,000. 25. Sold merchandise to Unique & Co. Rs.15,000 on credit. 29. Paid salaries to staff and house rent of his residency for the month by cheques Rs.12,000 and Rs.7,000 respectively. Required: Record the above transactions in general Journal.
Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter5: Accounting For Merchandising Businesses
Section: Chapter Questions
Problem 5.5APR: Multiple-step income statement and balance sheet The following selected accounts and their current...
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