2.5L. Journalise the following transactions, post in the ledger and prepare a trial balance: 1989 Jan. 1 Mr. Nadeem commenced business with Rs. 40,000 cash, furniture worth Rs. 5.000, motor-car valued at Rs. 12,000 and stock worth Rs. 20,000. "3 Deposited into Bank Rs. 38,000. "5 Purchased goods on account from Imran worth Rs. 9,000. "6 Sold goods to Babar on credit for Rs. 6,000. " 8 Bought office supplies from Rafiq & Co. for cash Rs. 200. 10 Goods sold for cash Rs. 2,000., "N Paid Rs. 600 as travelling expenses to salesman. %3D " 12 Withdrew from the bank for personal use Rs. 1,000. " 16 Withdrew from bank for office use Rs. 3,000. " 19° Issued a cheque to Imran of Rs. 8,800 in full settlement of his account. " 22 Paid carriage in cash Rs. 400. " 25 Received a cheque from Babar for Rs. 6,000. " 31 Paid rent of the building by cheque Rs. 300. " 31 Commission received Rs. 200. " 31 Bank charges made by bank Rs. 25.
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- On 1-1-2020, Mr. A started business of dealing in electric fans by investing cash Rs. 200000 and equipment at fair value of Rs. 20000 from his personal sources. The other transactions of the business for the month were as under:2-1-2020, purchased furniture for Rs. 20000 on account/on credit from Mr. B.5-1-2020, sold furniture for Rs. 22000 on cash.10-1-2020, purchased computer for cash Rs. 30000.16-1-2020, borrowed cash Rs. 50000, an interest free from HBL.20-1-2020, make partial payment to bank of Rs.30000.25-1-2020, purchased TV for cash Rs. 10000..31-1-2020, paid rent of the office Rs. 2000 for the month of January.Required: Make Accounting equation.On 1-1-2020, Mr. A started business of dealing in electric fans by investing cash Rs. 200000 and equipment at fair value of Rs. 20000 from his personal sources. The other transactions of the business for the month were as under: 2-1-2020, purchased furniture for Rs. 20000 on account/on credit from Mr. B. 5-1-2020, sold furniture for Rs. 22000 on cash. 10-1-2020, purchased computer for cash Rs. 30000. 10-1-2020, company purchased Rs. 450 worth of office supplies on credit. 16-1-2020, borrowed cash Rs. 50000, an interest free from HBL. 20-1-2020, make partial payment to bank of Rs.30000. 25-1-2020, An advertisement was run in the newspaper at a total cost of Rs. 250. Cash was paid when the order was placed. 31-1-2020, paid rent of the office Rs. 2000 for the month of January. Required: Make Accounting equation. Question: For each of the following items, indicate whether a debit or a credit applies. increase in retained earnings decrease in prepaid rent increase in dividends decrease…Record the following transactions in Accounting Equation? Commence business with cash Rs. 200,000 and Land Rs. 50,000. Bought merchandising for cash Rs. 80,000. Cash sales of worth Rs. 25,000. Bought goods on credit from Salman of worth Rs. 50,000. Sales on account to Ali Raza Rs. 12,000. Purchase furniture of the value of Rs. 5,000 by cash. Received cash form Ali Raza of Rs. 10,000. Return defective furniture of worth Rs. 1,500. Paid wages Rs. 1,000, Rent 2,000 and Electricity Bill Payable Rs. 1,500
- Give Accounting Equation for following transactions of Jitesh: a. Started business with cash – Rs. 5,00,000 & Bank – Rs. 3,00,000 b. Paid rent in Advance – Rs. 18,000 c. Purchased goods for cash – Rs. 1,00,000 & on credit – Rs. 40,000 d. Sold goods for cash – Rs. 80,000 e. Rent paid – Rs. 16,000 & Rent outstanding – Rs. 4,000 f. Bought second-hand Car for personal use – Rs. 2,00,000 g. Purchased equipment through cheque – Rs. 10,000 h. Paid to creditors – Rs. 12,000 i. Paid sundry expenses – Rs. 10,000 J. Depreciation on equipment – Rs. 500Journalise the following transactions and post them into Ledger: 2006 September 1 -Started business with Rs. 50,000, out of which pad into Bank Rs. 20,000. September 2 - Bought furniture for Rs. 5,000 and machinery for Rs. 10,000. September 3 - Purchased goods for Rs. 14,000. September 6 - Sold goods for Rs. 8,000. September 8 -Purchased goods from Malhotra and Co. Rs. 11,000. September 10- Paid telephone rent for the year by cheque Rs. 500. September 11- Bought one typewriter for Rs. 2,100 from Universal Typewriter Co. on credit. September 15- Sold goods to Keshav Ram for Rs. 12,000. September 17- Sold goods to Rajesh Kumar for Rs. 2,000 for cash. September 19- Amount withdrawn from bank for personal use Rs. 1,500. September 21- Received cash from Keshav Ram Rs. 11,900, discount allowed Rs. 100. September 22- Paid into bank Rs. 5,800. September 23- Bought 50 shares in X Y and Co. Ltd at Rs. 60 per share, brokerage paid Rs. 20. September 25- Goods worth Rs. 1,000 found…Journalise the following transactions, post the same in a relevant ledger account. June 1 Ali commenced business with Rs.20,000. June 2 Paid into bank Rs.5,000. June 3 Purchased Plant worth Rs.10,000 from Khan & Co. June 4 Purchased goods worth Rs. 5,000 form Anwar. June 6 Goods worth Rs.4,000 sold to Zeshan. June 8 Sold goods worth Rs.2,000 for cash. June 15 Paid rent Rs.250. June 18 Withdrawn from a bank for office use Rs. 2,500. June 20 Paid Salaries Rs.1,800. June 25 Withdrawn for personal use Rs.250. June 27 Paid for office furniture Rs.1,500 by cheque. June 29 Paid Anwar on account Rs.4,800.
- Mrs. Agustin is wholesale trader; following transactions are record in Accounting Equation? 1. Commence business with cash P400,000 and Land P70,000. 2. Bought merchandising for cash P 900,000. 3. Cash sales of worth P35,000. 4. Bought goods on credit from Salman of worth P60,000. 5. Sales on account to Ali Raza P 13,000. 6. Purchase furniture of the value of P 6,000 by cash. 7. Received cash form Ali Raza of P 11,000. 8. Return defective furniture of worth P1,000. 9. Paid wages P1,000, Rent 2,000 and Electricity Bill Payable P1,500.4. Below are the transactions for the month of February 2020 for Mrs Lamuna, a soletrader: Feb 1 Started business with RM12,000 cash2 Bought goods on credit from Shahirah RM1,0003 Paid rent by cash RM2004 Paid RM11,000 of the business cash into the business bank account6 Sold goods on credit to Tini RM6007 Bought stationery by cheque RM5011 Cash sales RM10014 Returned goods to Shahirah RM15015 Sold goods on credit to Tinggasamy RM1,20018 Goods returned by Tini RM4523 Paid Shahirah by cheque RM85025 Cash purchases RM25027 Received cheque from Tinggasamy RM50028 Received commission by cash RM100Required:a. Record all the transaction in the general journal (with narration)b. Record the transaction in the appropriate ledger accounts and balance all theaccountc. Prepare the trial balance as at 28 February 2020Make the analysis of the following transactions and record them in various accounts by applying the rules of debit and credit. 1- Usama commenced business with cash Rs. 600,000, building Rs. 80,000 2- Purchased goods for cash Rs. 160,000 subject to trade discount @10% 3- Purchased office furniture for cash Rs. 30,000 4- Paid advertising expenses Rs. 3000 5- Purchased goods from Ali and Sons Rs. 15000 6- Sold goods for cash Rs. 37,000 7- Sold goods to Faisal and Sons Rs. 30,000 8- Received cash from Faisal and Sons Rs. 28000 and Discount allowed Rs. 2,000 9- Paid cash to Ali and Sons Rs. 12,000 10- Goods distributed as free sample Rs. 2,000
- Fatimah extracted the following transaction for the month of May: 1 Started the business with cash RM1,000 and bank account of RM19,000 as capital. 3 Bought computer RM3,600 from Syarikat Cerah Sdn. Bhd. on credit term. 7 Purchased goods RM6,000 from Daya & Co on credit term. 9 Received cheque RM2,600 from sales on cash term. 12 Issued a cheque RM3,000 for purchases of goods on cash term. 16 Issued a cheque RM5,700 to Daya & Co., as settlement of purchases above, after deducting a discount received of RM300. 17 Sales of goods RM4,000 to Era Enterprise on credit term. 21 Fatimah withdrew cash RM200 for family use. 24 Issued a cheque RM2,000 to Syarikat Cerah Sdn. Bhd. as partial settlement of amount owing. 27 Received cheque RM3,800 from Era Enterprise, as settlement of sales above, after deducting discount allowed of RM200. 28 Miscellaneous expense RM280 paid by cash. Required: Prepare the journal entries…Journalise the following transactions in the books or Mr. Tahir for the month of February 2021 . Feb 2 Mr. Tahir commenced business with Rs . 50,000 cash Car valued Rs . 2,40,000 furniture 100,000 and stock worth Rs . 30,000 . 4 Purchased goods on account from Ali Rs . 28,000 6 Paid Rs . 1500 as travelling expenses to salesman 8 Withdrew from bank for personal use Rs.3000 10 Goods returned by Ali Rs . 2000 13 Withdrew from bank for office use 4000 15 Issued a cheque to ali 23000 in full settlement of his account 17 Bank charges made by bank Rs . 500 25 Bought goods Rs . 50,000 from Ali and supplied them to Raza at Rs . 60,000 28 Raza returned goods worth Rs . 10,000 which in turn was sent to Ali . od 20 Required : Journalise the above transactions and post them into Ledger2. Aminah opened a business on 1 January 2020. She brought in cash RM 120,000 and equipment valued at RM85,000 into a business. You are required to record the following transactions in tabular analysis format:January 2020Particulars3 Deposited RM55,000 of the cash into the bank account5 Bought motorcycle worth RM9,000 on credit from Bobby Motor Sdn Bhd6 Purchased goods on credit from Freshy Mart worth RM14,0008 Sold goods by cash to Fafau Catering Enterprise worth RM16,50010 Bought cttlery equipment worth RM3,200 by cash12 Bought goods on credit from Freshy Mart worth RM7,70016 Paid electricity bill by cheque amounting RM90018 Customer pay and received cash worth RM3,60021 Sold goods on credit to HanaHani Enterprise worth RM9,40025 Settled all amount due to Freshy mart by cheque payment28 Sold goods on credit to Hafifah Mart worth RM12,30030 Received cheque from Hanahani Enterprise in settlement of all amount due31 Paid by cheque worth RM9,000to Bobby Motors and paid salaries by cash…