Q.1 The following transactions are for the Sun’s Corporation, December, 2018. 12 Jan. Sun’s Corporation issued shares 100000 and value of one share is Rs. 56.14 Feb. Sun’s Corporation purchased furniture 30000 for cash.17 Mar. Sold goods on credit for Rs. 90000.21 Apr. Account receivable collected for Rs 10000, made on 17 March.21 Apr Sun’s Corporation purchased computer 30000 on account payable.23 Jun. Paid advertising expense for Rs. 9000.12 Sep. Paid salary for Rs. 1700030 Dec. Declared and paid dividend to shareholders 40000. Required:Pass Journal entries.Post each of the above transactions in the LedgerPrepare Trial Balance.

Name: Q.1 The following transactions are for the Sun’s Corporation, December
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Description: Q.1 The following transactions are for the Sun’s Corporation, December, 2018. 12 Jan. Sun’s Corporation issued shares 100000 and value of one share is Rs. 56.14 Feb. Sun’s Corporation purchased furniture 30000 for cash.17 Mar. Sold goods on credit fo

The journal entries are prepared to keep the record of day to day transactions of the business.

Answered: The following transactions are for the…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 18EB: Krespy Corp. has a cash balance of $7,500 before the following transactions occur: A. received...

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Q.1 The following transactions are for the Sun’s Corporation, December, 2018.

12 Jan. Sun’s Corporation issued shares 100000 and value of one share is Rs. 56.
14 Feb. Sun’s Corporation purchased furniture 30000 for cash.
17 Mar. Sold goods on credit for Rs. 90000.
21 Apr. Account receivable collected for Rs 10000, made on 17 March.
21 Apr Sun’s Corporation purchased computer 30000 on account payable.
23 Jun. Paid advertising expense for Rs. 9000.
12 Sep. Paid salary for Rs. 17000
30 Dec. Declared and paid dividend to shareholders 40000.

Required:

Pass Journal entries.
Post each of the above transactions in the Ledger
Prepare Trial Balance.

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