Journ entr mr saeed started his business with cash Rs 130,000 Furniture rs 40000 and Building Rs 2,00,000 on 1st January 2017
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- Date Transaction 1.1.2020 Mr. Salim Ahmed started business as Ahmed Enterprise with OMR 70000 cash and Furniture valued at RO. 30000 as capital 15. 2. 20 Opened Bank Account and deposited 45000 OMR Cash 29.3.20 Purchased goods from Sharuk Traders for OMR 14500, paid 10% cash and remaining on credit. 21.6.20 Sold goods for 14000 OMR . 50% received in cash remaining on account to M/s. Muscat Enterprises 4.9.2017 Purchased building from Ansari Traders 25000 OMR , paid by cheques full amount . 9.12. 20 Settled accounts of Sharuk Traders by cheque. 29.12.20 Paid Salary expense 500 OMR for the month of December cash 31.12.20 Received rent revenue of 1200 OMR in cash . Required : Post them into the ledger accounts Name of Account:______________ DATE PARTICULARS AMT. DATE PARTICULARS AMT. Name of…Date Transaction 1.1.2020 Mr. Salim Ahmed started business as Ahmed Enterprise with OMR 70000 cash and Furniture valued at RO. 30000 as capital 15. 2. 20 Opened Bank Account and deposited 45000 OMR Cash 29.3.20 Purchased goods from Sharuk Traders for OMR 14500, paid 10% cash and remaining on credit. 21.6.20 Sold goods for 14000 OMR . 50% received in cash remaining on account to M/s. Muscat Enterprises 4.9.2017 Purchased building from Ansari Traders 25000 OMR , paid by cheques full amount . 9.12. 20 Settled accounts of Sharuk Traders by cheque. 29.12.20 Paid Salary expense 500 OMR for the month of December cash 31.12.20 Received rent revenue of 1200 OMR in cash . Required : Record Journal Entries Post them into the ledger accounts 3. Prepare the Trial Balance as on 31.12.2020Date Transaction 1.1.2020 Mr. Salim Ahmed started business as Ahmed Enterprise with OMR 70000 cash and Furniture valued at RO. 30000 as capital 15. 2. 20 Opened Bank Account and deposited 45000 OMR Cash 29.3.20 Purchased goods from Sharuk Traders for OMR 14500, paid 10% cash and remaining on credit. 21.6.20 Sold goods for 14000 OMR . 50% received in cash remaining on account to M/s. Muscat Enterprises 4.9.2017 Purchased building from Ansari Traders 25000 OMR , paid by cheques full amount . 9.12. 20 Settled accounts of Sharuk Traders by cheque. 29.12.20 Paid Salary expense 500 OMR for the month of December cash 31.12.20 Received rent revenue of 1200 OMR in cash . Required : Prepare the Trial Balance as on 31.12.2020
- Date Transaction 1.1.2020 Mr. Salim Ahmed started business as Ahmed Enterprise with OMR 70000 cash and Furniture valued at RO. 30000 as capital 15. 2. 20 Opened Bank Account and deposited 45000 OMR Cash 29.3.20 Purchased goods from Sharuk Traders for OMR 14500, paid 10% cash and remaining on credit. 21.6.20 Sold goods for 14000 OMR . 50% received in cash remaining on account to M/s. Muscat Enterprises 4.9.2017 Purchased building from Ansari Traders 25000 OMR , paid by cheques full amount . 9.12. 20 Settled accounts of Sharuk Traders by cheque. 29.12.20 Paid Salary expense 500 OMR for the month of December cash 31.12.20 Received rent revenue of 1200 OMR in cash . Required : Post them into the ledger accounts 3.asap!! please asap!! The following information relates to the business of Maria & Co for the year ended 31 Dec 2020. Particulars Debit Credit Rs.(000) Rs.(000) Capital account 1 Jan 2020 13,640 Building at cost 7,500 Furniture at cost 2,000 Motor cars at cost 6,300 Accumulated depreciation- Motors cars 2,370 Accumulated depreciation-Furniture 800 Accumulated depreciation –Building 450 Inventory 1 Jan 2020 6,740 Purchases…Shakeel started business with cash Rs 100,000 in journal entries
- 1. CtSha Enterprise started a new business on 1 of September 2020. You are required to record the following transaction by using accounting equation (tabular analysis format):Sept 2020 Particulars1 Owner invested RM50,000 cash to start a photocopy business.3 Owner purchased a photocopy machine costing RM1,000 cash.5 Owner withdrew RM10,000 cash for personal use.6 Owner make a loan RM20,000 from Combo Bank for the business purpose. 25 Owner paid off RM5,000 of the bank loan.26 Owner provided photocopy service for a school total RM3,000 ; then this business had received RM2,000 cash for the service whereby another RM1,000 they will pay after the photocopies complete.28 Owner paid RM500 cash for his employee’s salary, RM300 cash for utilities and RM200 cash for shop rental. 2. Calculate the missing figure:Owner Equity Liabilities AssetsRM RM RMBusiness A ? 45,000 79,500Business B 45,600 23,000 ?Business C 104,500 ? 163,700ASAP!! ANSWER The following is the trial balance of Shah Latif & Co. on March 31, 2011Cash Rs. 20,000 Accounts Payable Rs. 30,000Accounts Receivable Rs. 50,000 Salaries Payable Rs. 15,000Merchandise inventory Rs. 60,000 Bank loan Rs. 25,000Equipment Rs. 40,000 Capital Rs. 100,000The following transactions were performed during first fortnight of April:Apr 05 Paid outstanding salaries06 Collected 1/2 of accounts receivable.07 Sold merchandise for cash Rs.20,000 and on account Rs.30,00010 Paid 1/3 of the accounts payable.14 Made additional investment depositing cash into the bank Rs.25,000.Requireda. Prepare the ledgers with opening balances on April 01. b. Prepare Trial balanceelow.1. Here is another sample of business transactions for Kuya Jimin’s Auto Shop for February 2021. The business: Cash, Php 30,000; Prepaid Rent, Php5,000; Equipment, Php5,000, Supplies Php 3,000.00 and Accounts Payable Php7,000. By the end of the month, Berting's had earned Php50, 000 of Service Income, Php 1,500 of Utility Expenses and Php 6,500 of Salaries Expense and P 1,500 for Rent Expense. How much is the net income of the Kuya Jimin?
- On April 01, 2020 Aneesh started a business with Rs. 10,00,000; other transactions for the month are: April 2 Purchase Furniture for Cash Rs. 70,000. 8 Purchase Goods for Cash Rs. 20,000 and for Credit Rs. 40,000 from Khalid Retail Store. 14 Sold Goods to Khan Brothers Rs. 82,000 and Cash Sales Rs. 55,000. 18 Owner withdrew of worth Rs. 20,000 for personal use. 22 Paid Khalid Retail Store Rs. 15,000. 26 Received Rs. 30,000 from Khan Brothers. 30. Paid Salaries Expense Rs. 62,000. Journalise the above transactions, prepare Ledger accounts and post the balances to a Trial Balance.2. 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…Q1 Let us assume that Mr. Amir starts a business called Amir Enterprises on 1st January, 2021 and invests cash of RO. 20,000 as his capital. Amir Enterprise’s purchases machinery worth RO. 1,000 paid 35% in cash and remaining on credit. The company purchased goods worth RO. 5,000. Paid RO. 2,000 cash and balance on credit The company made a sale of RO. 2800 (cost being RO 3000) on credit basis The company took loan of RO. 10,000 from Bank Muscat . Mr. Amir withdrew RO. 1,000 from the business for his personal use You need to record the above transactions in an equation form. Q2Select any five financial transactions of your choice and make journal entries for the same.