The Kamran Steel Ltd. engaged in the following transactions during the month of December 2018:  DEC. 01: Issued 2,000 shares of common stock at 200 per share  DEC. 03: Paid office rent for the month of December Rs 5000.  DEC. 06: Purchased office supplies Rs 2500.  DEC. 12: Purchased office equipment on account Rs45,000  DEC. 16: Purchased business car for Rs 50,000. Paid Rs200,000 cash and issued a note for the balance.  DEC. 21: Billed clients Rs 24,000 on account.  DEC. 25: Declared dividends Rs 30,000. The amount of dividends will be distributed in December.  DEC. 28: Paid utility bills for the month of December Rs1800.  DEC. 29: Received Rs 20,000 cash from clients billed on December 21.  DEC. 30: Paid salary for the month of December Rs 8,500 Required: Record the above transactions in a general journal

The Kamran Steel Ltd. engaged in the following transactions during the month of December 2018:  DEC. 01: Issued 2,000 shares of common stock at 200 per share  DEC. 03: Paid office rent for the month of December Rs 5000.  DEC. 06: Purchased office supplies Rs 2500.  DEC. 12: Purchased office equipment on account Rs45,000  DEC. 16: Purchased business car for Rs 50,000. Paid Rs200,000 cash and issued a note for the balance.  DEC. 21: Billed clients Rs 24,000 on account.  DEC. 25: Declared dividends Rs 30,000. The amount of dividends will be distributed in December.  DEC. 28: Paid utility bills for the month of December Rs1800.  DEC. 29: Received Rs 20,000 cash from clients billed on December 21.  DEC. 30: Paid salary for the month of December Rs 8,500 Required: Record the above transactions in a general journal

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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The Kamran Steel Ltd. engaged in the following transactions during the month of December 2018:⦁ DEC. 01: Issued 2,000 shares of ⦁ common stock at 200 per share⦁ DEC. 03: Paid office rent for the month of December Rs 5000.⦁ DEC. 06: Purchased office supplies Rs 2500.⦁ DEC. 12: Purchased office equipment on account Rs45,000⦁ DEC. 16: Purchased business car for Rs 50,000. Paid Rs200,000 cash and issued a note for the balance.⦁ DEC. 21: Billed clients Rs 24,000 on account.⦁ DEC. 25: Declared dividends Rs 30,000. The amount of dividends will be distributed in December.⦁ DEC. 28: Paid utility bills for the month of December Rs1800.⦁ DEC. 29: Received Rs 20,000 cash from clients billed on December 21.⦁ DEC. 30: Paid salary for the month of December Rs 8,500
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Solve this question The Kamran Steel Ltd. engaged in the following transactions during the month of December 2018:• DEC. 01: Issued 2,000 shares of common stock at 200 per share• DEC. 03: Paid office rent for the month of December Rs 5000.• DEC. 06: Purchased office supplies Rs 2500.• DEC. 12: Purchased office equipment on account Rs45,000• DEC. 16: Purchased business car for Rs 50,000. Paid Rs200,000 cash and issued a note for the balance.• DEC. 21: Billed clients Rs 24,000 on account.• DEC. 25: Declared dividends Rs 30,000. The amount of dividends will be distributed in December.• DEC. 28: Paid utility bills for the month of December Rs1800.• DEC. 29: Received Rs 20,000 cash from clients billed on December 21.• DEC. 30: Paid salary for the month of December Rs 8,500Required: Record the above transactions in a general journal.
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