2017 Jan.1 Deposited cash Rs. 500 to business bank account. Jan.7 Purchased office furniture for cash Rs. 700; cash sales Rs. 2,000. Jan.9 Received from Mr. Shabir a cheque for Rs. 2,550 in part payment of his account and not. Make double column cash book.
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- Hajun Company started its business on May 1, 2019. The following transactions occurred during the month of May. Prepare the journal entries in the journal on Page 1. A. The owners invested $5,000 from their personal account to the business account. B. Paid rent $400 with check #101. C. Initiated a petty cash fund $200 check #102. D. Received $400 cash for services rendered E. Purchased office supplies for $90 with check #103. F. Purchased computer equipment $1,000, paid $350 with check #104 and will pay the remainder in 30 days. G. Received $500 cash for services rendered. H. Paid wages $250, check #105. I. Petty cash reimbursement office supplies $25, Maintenance Expense $125, Miscellaneous Expense $35. Cash on hand $18. Check #106. J. Increased Petty Cash by $50, check #107.Domingo Company started its business on January 1, 2019. The following transactions occurred during the month of May. Prepare the journal entries in the journal on Page 1. A. The owners invested $10,000 from their personal account to the business account. B. Paid rent $500 with check #101. C. Initiated a petty cash fund $500 with check #102. D. Received $1,000 cash for services rendered. E. Purchased office supplies for $158 with check #103. F. Purchased computer equipment $2,500, paid $1,350 with check #104, and will pay the remainder in 30 days. G. Received $800 cash for services rendered. H. Paid wages $600, check #105. I. Petty cash reimbursement: office supplies $256, maintenance expense $108, postage expense $77, miscellaneous expense $55. Cash on hand $11. Check #106. J. Increased petty cash by $30, check #107.To demonstrate the difference between cash account activity and accrual basis profits (net income), note the amount each transaction affects cash and the amount each transaction affects net income. A. paid balance due for accounts payable $6,900 B. charged clients for legal services provided $5,200 C. purchased supplies on account $1,750 D. collected legal service fees from clients for current month $3,700 E. issued stock in exchange for a note payable $10,000
- Inner Resources Company started its business on April 1, 2019. The following transactions occurred during the month of April. Prepare the journal entries in the journal on Page 1. A. The owners invested $8,500 from their personal account to the business account. B. Paid rent $650 with check #101. C. Initiated a petty cash fund $550 check #102. D. Received $750 cash for services rendered. E. Purchased office supplies for $180 with check #103. F. Purchased computer equipment $8,500, paid $1,600 with check #104 and will pay the remainder in 30 days. G. Received $1,200 cash for services rendered. H. Paid wages $560, check #105. I. Petty cash reimbursement office supplies $200, Maintenance Expense $140, Miscellaneous Expense $65. Cash on Hand $93. Check #106. J. Increased Petty Cash by $100, check #107.Prepare journal entries to record the following transactions. Create a T-account for Cash, post any entries that affect the account, and calculate the ending balance for the account. Assume a Cash beginning balance of $37,400. A. May 12, collected balance due from customers on account, $16,000 B. June 10, purchased supplies for cash, $4,444Mr. Shankar has started a business by cash Rs.35,000 and bank balance Rs.1,50,000 on 1st Jan.The other information are as follows:Jan 02purchased goods for Rs.50,000 from Hari and paid partially Rs.20,000Jan 07 Paid for wages Rs.22,000 by chequeJan 10Mr.Shankar withdrew Rs.1,500 for personal use from the bank.Jan 15 Dividend of Rs.5,000 was collected by the bank.Jan 18 Withdrew from the bank for office use Rs.20 000.Jan 25 Sold goods for Rs.30,000 to .Ram and received Rs.15, 000 by cheque partially.Jan 26 paid to Han in full settlement by cheque.Jan 27 deposited the cheque of Mr.Ram.Required:Cash book with cash and bank column.
- Mia Toretto has been in business since 1st January 2020. The following is a list of her transaction for January 2020: 1/1/2020 Capital of RM30,000 paid into a business bank account. 2/1/2020 Van purchased on credit from Lang for RM5,000. 6/1/2020 Goods purchased on credit from Green for RM15,000. 10/1/2020 Cheque drawn on the bank for RM1,000 in order to open a petty cash account. 14/1/2020 Goods sold on credit for RM6,000 o Haddock. 18/1/2020 Cash sales of RM5,000. 20/1/2020 Cash purchases of Rm3,000. 22/1/2020 Miscellaneous expenses of RM500 paid out of petty cash. 25/1/2020 Lang’s account settled by cheque. 28/1/2020 Green allows Mia Toretto a cash discount of RM500. 29/1/2020 Green sent a cheque for RM10,000. 30/1/2020 Haddock is allowed a cash discount of RM600. 31/1/2020 Haddock settles his account in cash. Required: Enter the above transaction in Mia Toretto’s ledger accounts.3C. Compile three column cashbook of Mr. Uzair from the following transactions: 2020 Oct 1 Mr. Uzair started business with cash OMR 4000 4 Deposited into Bank OMR 2000 8 Purchased goods on credit from Haya for OMR 1000 10 Sold goods to Kawthar on credit for OMR 600 12 Goods purchased by paying cheque OMR 400 15 Paid wages OMR 40 20 Withdrew from bank for personal use OMR 200 25 Received cash from Kawthar OMR 540, in full settlement of his account 26 Paid electricity OMR 20 28 Withdrew from Bank for business use OMR 2000 30 Paid to Haya by cheque OMR 900, in full settlement of her accountDec. 2017 1 Started in business with RM8000 in the bank. 2 Bought goods on time from: Frank RM550, Byers RM540, Lee RM610. 5 Cash sales RM510 6 Paid wages in cash RM110. 7 Sold goods on time: Snow RM295, Park RM360: Tyler RM640. 9 Bought goods for cash RM120. 10 Bought good on time from: Byers RM410; Lee RM1240. 12 Paid wages in cash RM110. 13 Sold goods on time to: Park RM610; Tyler RM205. 15 Bought shop fixtures on time from Stop Ltd RM740. 17 Paid Byers by cheque RM700. 18 We return goods to Lee RM83. 21 Paid Stop Ltd a cheque for RM740. 24 Tyler paid us his account by cheque RM845. 27 We return goods to Frank RM18. 30 Prince lent us RM1000 by cash. 31 Bought a van paying by cheque RM6250. Write the transaction and trial balance
- From the following information prepare Double Column Cash Book.2018May 1 Opening Balance : Cash Rs.8,75,000Bank (Cr.) Rs. 25,2502 Machinery purchased Rs.1,15,0003 Water bill paid Rs. 9,0004 Salary paid by cheque Rs. 23,5006 Sold goods for cash Rs. 90,000 (GST @12%)7 Purchased from Manohar for cash Rs. 18,000 (GST @12%)9 Cash deposited in to bank Rs. 3,2,00010 Purchased from Nandan Rs. 48,00012 Cheque issued to Nandan Rs. 48,00013 Sold to Nayan Rs. 23,20017 Sold to Shalini Rs. 60,00019 Cash received from Shalini Rs. 35,00022 Cheque received from Shalini Rs. 15,00023 Shalini directly deposited in bank Rs. 10,00025 Shalini’s cheque paid in to bank for collection26 Goods withdrawn for personal use Rs. 43,00028 Cash taken from bank Rs. 23,00029 Cash taken from bank for personal use Rs. 12,00030 Cash taken for personal use Rs. 9,50031 Shalini’s cheque returned dishonoured1) Write up a two-column cash book for Sam Trading LLC from the following: (4 Marks) Date Transactions 1-11-2020 Sam puts capital into a bank account for the business, OMR 25000. 12-11-2020 Withdrew OMR 1400 from the bank for private use. 14-11-2020 Withdrew OMR 2000 from the bank for business use. 17-11-2020 Paid rent by cheque OMR 300. 18-11-2020 Received interest by cheque OMR 400. 25-11-2020 Cash sales OMR 12000. 28-11-2020 Paid wages by cheque OMR 5000.Enter the following transactions in a three column cash book. 2009 Rs. January 1 Cash in hand 410Balance at bank 8,9202 Cash sales 4,5003 Paid into bank 4,0005 Purchased stationary 1008 Paid Mahesh by cheque 280Discount received 2012 Gave a cheque for cash purchases 1,50015 Drew for personal use 50020 Drew from bank 1,00021 Paid wages 80031 Bank charges as per pass book 10
