The following transactions related to the business of Iqbal & Sons (Broker). 1. Iqbal started business with a Cash investment of Rs.5000. 2. Purchased Office Supplies for Cash Rs.300. 3. Purchased Furniture for Cash Rs.4000. 4. Paid Office Rent Rs.350. 5. Commission earned for Cash Rs.4000. 6. Rendered Services to Kamal & Co. who paid Rs.500 in Cash and promising to pay the balance of Rs.3500 after a week. 7. Purchased Furniture from Hilal & Co. by paying Cash Rs.300 and promising to pay the balance of Rs.700 after two weeks. You are required to make Journal Entries, Ledger and Trial Balance in proper format.

QI. Prepare accounting equation from the following data. Mr A started business for cash Rs 100000 and cash at bank Rs 50000. Purchased office equipment from Qadeer Rs 10000. Purchased merchandises for cash Rs 5000. Paid to Mr Qadeer, Purchased stationary Rs 1000| Paid salaries Rs 1000. Paid Rent Rs 2000.

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

Required information [The following information applies to the questions displayed below.] The transactions of Spade Company appear below. a. K. Spade, owner, invested $19,750 cash in the company in exchange for common stock. b. The company purchased supplies for $573 cash. c. The company purchased $10,922 of equipment on credit. d. The company received $2,331 cash for services provided to a customer. e. The company paid $10,922 cash to settle the payable for the equipment purchased in transaction c. f. The company billed a customer $4,187 for services provided. g. The company paid $510 cash for the monthly rent. h. The company collected $1,759 cash as partial payment for the account receivable created in transaction f. i. The company paid a $1,100 cash dividend to the owner (sole shareholder). Required: 1. Prepare general journal entries to record the transactions of Spade Company by using the following accounts: Cash; Accounts Receivable; Supplies; Equipment; Accounts Payable; Common…