Mr. Saeed started his business with cash Rs. 65,000, Furniture Rs. 20,000 and Building Rs. 1,00,000 on Ist January, 1990. His transaction during the month were as follows: 1990 Jan. 1 Purchased goods on account from Asif worth Rs. 15,000.
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- 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.Mr. M starts business with Rs. 20,000 on 1st April 2012. Of this he pays Rs. 15000 into his bank account. His cash transactions during the week were: April 1 Purchased stationery for cash Rs. 100 April 2 Purchased goods for cash Rs. 2500 April 2 Cash Sales Rs.1500 April 3 Received from J Brown Cash on account Rs. 1000 April 4 Paid to J. R Cash Rs. 2200 April 5 Paid for Advertisement Rs. 400 April 6 Cash Sales Rs. 1800 April 6 Purchased old machinery Rs. 800 April 6 Purchase from sham on credit Rs. 6000 Make out a single column cash book .on 1st January 2002 Ali started business with a capital of Rs. 20,000 and his transaction of the month were as follows:- Jan 03 Received cash from kamal Rs 200 Jan 05 Paid salaries Rs 300 Jan 08 Purchase furniture from Kashif Rs 1000 Jan 11 Purchases building for cash Rs.9000 Jan 13 Purchase goods from Hasan Rs.1500 Jan 17 sold goods for cash Rs.900 Jan 19 Draw cash for private expenses Rs100 Jan 25 Received from rahim and sons RS 590 against the payment of Rs600. Required: - Journalizing the above transaction and prepare the ledger & trial balance
- The following transactions took place in April 2020: 1. Mwale started his business with Cash 50,000 2. Purchased goods for cash 5,000 3. Purchased more goods for cash 10,000 4. Purchased goods from Mr Kuku on credit 15,000 5. Sold goods for cash 6,000 6. Sold more goods for Cash 12,000 7. Sold goods to Mr Phiri for 18,000 on account 8. Purchased goods on credit from Mr Kapalu 10,000 9. Purchased goods from Ms Chewe on credit 20,000 10. Sold goods for cash to Ms Mushiba 12,500 11. Sold goods to Mr Bbuku on account for 25,000 12. Mr Phiri returned goods worth 2,500 13. Returned goods to Ms Chewe 2,000 14. Received cash from Mr Phiri 9,900; allowed him discount 100 15. Paid Mr Kuku 7,880; discount allowed by him 120 16. Withdrew cash for personal use 1,000 17. Withdrew goods for private use (Cost ` 500, Selling Price ` 600) 18. Paid Salary to Mr Banda, an employee 500 19. Paid Rent for cash to Mr Limbani, landlord 500 Required: Demonstrate how the above transactions will affect the…On April 01, 2016 Anees started business with Rs. 100,000 and other transactions for the month are: Purchase Furniture for Cash Rs. 7,000. Purchase Goods for Cash Rs. 2,000 and for Credit Rs. 1,000 from Khalid Retail Store. Sold Goods to Khan Brothers Rs. 12,000 and Cash Sales Rs. 5,000. Owner withdrew of worth Rs. 2,000 for personal use. Paid Khalid Retail Store Rs. 500. Received Rs. 10,000 from Khan Brothers. Paid Salaries Expense Rs. 2,000 Prepare basic transactions using National Accounts Chart (NAC).A business was started on March 1, 2020 with the investment of cash Rs. 50,000 and office equipment worth Rs. 50,000 and the following transactions were completed during the month: March 2 : Purchased merchandise for cash Rs. 25,000 and on account Rs. 15,000. March 3 : Purchased office supplies for cash Rs. 2,000 and on account Rs. 7,000March 12: Purchased furniture on account Rs. 5,000. March 18: Sold merchandise for cash Rs. 20,000 and on account Rs. 15,000 March 20: Paid to suppliers Rs. 10,000 after discount Rs. 1,000 March 30: Paid rent for the month Rs. 1,500. REQUIRED: Post the transactions to "T" accounts.
- Below are the transactions for the month of February 2020 for Mrs Lamuna, a sole trader: Feb 1 Started business with RM12,000 cash 2 Bought goods on credit from Shahirah RM1,000 3 Paid rent by cash RM200 4 Paid RM11,000 of the business cash into the business bank account 6 Sold goods on credit to Tini RM600 7 Bought stationery by cheque RM50 11 Cash sales RM100 14 Returned goods to Shahirah RM150 15 Sold goods on credit to Tinggasamy RM1,200 18 Goods returned by Tini RM45 23 Paid Shahirah by cheque RM850 25 Cash purchases RM250 27 Received cheque from Tinggasamy RM500 28 Received commission by cash RM100 Required: Record all the transaction in the general journal (with narration) Record the transaction in the appropriate ledger accounts and balance all the account Prepare the trial balance as at 28 February 2020The following transactions were completed by Ronaldo during the month of June 2016. 01 Commenced business with an investment of cash Rs. 30,000 and furniture worth Rs. 20,000. 02 Purchased merchandise on account from Neymar for Rs. 25,000 and paid carriage thereon Rs. 500. 04 Purchased equipment for cash Rs. 2,000. 06 Withdrew merchandise worth Rs. 600 and cash Rs. 1,300 for personal use. 08 Cash sales for the day Rs. 3,000. 12 Purchased supplies for cash Rs. 1,500. 15 Paid salaries in cash Rs. 2,600. 19 Sold merchandise on account to Messi Rs. 6,000. 22 Defective goods returned by Messi of Rs. 300. 25 Paid rent in cash Rs. 1,000. 27 Paid to Neymar Rs. 16,000. 29 Received cash from Tariq Rs. 4,000. 30 Paid for insurance Rs. 900. Required: Prepare general ledger accounts.The following transactions were completed by Ronaldo during the month of June 2016. 01 Commenced business with an investment of cash Rs. 30,000 and furniture worth Rs. 20,000. 02 Purchased merchandise on account from Neymar for Rs. 25,000 and paid carriage thereon Rs. 500. 04 Purchased equipment for cash Rs. 2,000. 06 Withdrew merchandise worth Rs. 600 and cash Rs. 1,300 for personal use. 08 Cash sales for the day Rs. 3,000. 12 Purchased supplies for cash Rs. 1,500. 15 Paid salaries in cash Rs. 2,600. 19 Sold merchandise on account to Messi Rs. 6,000. 22 Defective goods returned by Messi of Rs. 300. 25 Paid rent in cash Rs. 1,000. 27 Paid to Neymar Rs. 16,000. 29 Received cash from Tariq Rs. 4,000. 30 Paid for insurance Rs. 900. Required:• Prepare journal entries.• Prepare general ledger accounts.• Test the accuracy of your posting by taking out a pre-closing Trial Balance having complete titleand column headings.
- The following transactions were completed by Ronaldo during the month of June 2016. 01 Commenced business with an investment of cash Rs. 30,000 and furniture worth Rs. 20,000. 02 Purchased merchandise on account from Neymar for Rs. 25,000 and paid carriage thereon Rs. 500. 04 Purchased equipment for cash Rs. 2,000. 06 Withdrew merchandise worth Rs. 600 and cash Rs. 1,300 for personal use. 08 Cash sales for the day Rs. 3,000. 12 Purchased supplies for cash Rs. 1,500. 15 Paid salaries in cash Rs. 2,600. 19 Sold merchandise on account to Messi Rs. 6,000. 22 Defective goods returned by Messi of Rs. 300. 25 Paid rent in cash Rs. 1,000. 27 Paid to Neymar Rs. 16,000. 29 Received cash from Tariq Rs. 4,000. 30 Paid for insurance Rs. 900. Required: Prepare general ledger acounts with balancing and trial balance.The following transactions were completed by Ronaldo during the month of June 2016. 01 Commenced business with an investment of cash Rs. 30,000 and furniture worth Rs. 20,000. 02 Purchased merchandise on account from Neymar for Rs. 25,000 and paid carriage thereon Rs. 500. 04 Purchased equipment for cash Rs. 2,000. 06 Withdrew merchandise worth Rs. 600 and cash Rs. 1,300 for personal use. 08 Cash sales for the day Rs. 3,000. 12 Purchased supplies for cash Rs. 1,500. 15 Paid salaries in cash Rs. 2,600. 19 Sold merchandise on account to Messi Rs. 6,000. 22 Defective goods returned by Messi of Rs. 300. 25 Paid rent in cash Rs. 1,000. 27 Paid to Neymar Rs. 16,000. 29 Received cash from Tariq Rs. 4,000. 30 Paid for insurance Rs. 900. Required: Prepare Trial Balance having complete title and column headings.The following transactions were completed by Ronaldo during the month of June 2016. 01 Commenced business with an investment of cash Rs. 30,000 and furniture worth Rs. 20,000. 02 Purchased merchandise on account from Neymar for Rs. 25,000 and paid carriage thereon Rs. 500. 04 Purchased equipment for cash Rs. 2,000. 06 Withdrew merchandise worth Rs. 600 and cash Rs. 1,300 for personal use. 08 Cash sales for the day Rs. 3,000. 12 Purchased supplies for cash Rs. 1,500. 15 Paid salaries in cash Rs. 2,600. 19 Sold merchandise on account to Messi Rs. 6,000. 22 Defective goods returned by Messi of Rs. 300. 25 Paid rent in cash Rs. 1,000. 27 Paid to Neymar Rs. 16,000. 29 Received cash from Tariq Rs. 4,000. 30 Paid for insurance Rs. 900. Required: Prepare journal entries. Prepare general ledger accounts. Prepare Trial Balance having complete title and column headings.