. Mr. Arman deposited into bank Rs.50,000 to start a business 2. Purchased office supplies worth Rs.20,000 on account
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- Write up the accounts in the books of D. Gough to record the following transactions:2021June 1 Started business with Kshs1,600,000 in the bank.2 Bought van paying by cheque Kshs640,000.5 Bought office fixtures Kshs90,000 on time from Old Ltd.8 Bought van on time from Carton Cars Ltd Kshs710,000.12 Took Kshs18,000 out of the bank and put it into the cash till.15 Bought office fixtures paying by cash Kshs12,000.19 Paid Carton Cars Ltd by Internet transfer from the bank account.21 A loan of Kshs50,000 cash is received from B. Berry.25 Paid Kshs40,000 of the cash in hand into the bank account.30 Bought more office fixtures paying with the business debit card Kshs48,000. Mr. Arman deposited into bank Rs.50,000 to start a business 2. Purchased office supplies worth Rs.20,000 on account 3. Bought office equipment from B&Co. for Rs. 10000, paid to them Rs.3000 and promised to pay the balance after two months. 4. Collected $10,000 from customer 5. Purchase supplies for cash Rs. 4000 6. Purchased 2 units of computer with printer for Rs. 50,000, payable in 30 days. 7. Bought furniture for Rs. 3200,paid to K&Co. Rs.1200 and promised to pay balance after one month 8. Withdrew cash for personal use Rs. 3000 9. Sold some office supplies to client amount $5,000 who issued promissory note 10. Received from Nasir Rs.5000 Required: Prepare journal entries Post to ledger accounts Prepare a trial balance at July 31,2020 Show the effect of above transactions on accounting equation.Mr. Shankar has started a business by cash Rs.35,000 and bank balance Rs.1,50,000 on 1st Jan.The other information are as follows:Jan 02purchased goods for Rs.50,000 from Hari and paid partially Rs.20,000Jan 07 Paid for wages Rs.22,000 by chequeJan 10Mr.Shankar withdrew Rs.1,500 for personal use from the bank.Jan 15 Dividend of Rs.5,000 was collected by the bank.Jan 18 Withdrew from the bank for office use Rs.20 000.Jan 25 Sold goods for Rs.30,000 to .Ram and received Rs.15, 000 by cheque partially.Jan 26 paid to Han in full settlement by cheque.Jan 27 deposited the cheque of Mr.Ram.Required:Cash book with cash and bank column.
- Create journal entries for sage 50. ? 1.The owner Jasmine, had the bank transfer (by the bank memo) $20000 from the personal savings account to the business bank account to start the business. 2. Negotiated a 5-year bank loan of $40000 at an annual interest rate of 9.50% with Loyal Bank. The money was deposited in the bank account today. 3.Received invoice 402 for $1200 plus HST from Captain Insurance, for a one-year business Insurance Policy, commencing Aug 1, 2018. Issued cheque #1001 to pay this invoice.Below are the transactions for Alex in Jan 2019: 1 Alex commenced business by depositing cash RM80,000 in the bank as capital 4 A machine was purchased and paid for with company cheque for RM42,000 8 Alex purchased goods for resale amounting to RM17,500 on credit 12 Alex made a cash sales of RM4,800; cost of good sold was RM2,600 16 Alex received a bank loan of RM30,000, the money was credited to the business bank account 20 Alex brought in his personal car for business use, the car was valued at RM65,000 23 Alex purchased goods for resale amounting to RM35,600, he paid the supplier by cheque 27 Alex paid supplier RM17,000 for the goods purchased on 8 Jan 2018, discount received RM500 30 Alex bought a computer for RM5,200 by cheque Required: Prepare the accounting equation for the month of January 2019.2. Prepare for the financial statements of spouses Maria and Juan Dela Lata given the following information. а. Cash on hand ? b. Savings Account in Metrobank = 200,000 and in BPI 345,654 c. Money market accounts = 125,000 d. Accounts Receivables from Maria = 34,890; Juana = 12,900 and Jose = 6500 e. Automobiles at current market value = 2,345,000 f. House and lot at current market value = 12,450,900 g. Personal properties = 3,568,788 h. Furnitures , Fixtures and appliances = 875,600 i. Stock investments = 90,000 j. Bond investments 50,000 k. Credit card loans = 89,700 1. Short term loans with cooperatives = 239,890 m. Unpaid taxes = 75,690 n. Automobile loan = 684,500 o. Housing loan = 2,500,894 p. Both spouses are working with a total annual income of 3,500,433 q. They have received a total of 400,000 from their relatives abroad as gifts in cash. r. They received dividends of 12,450 from the cooperative for the year. s. They received 23,693 from the sale of old appliances t. 8% of…
- 2017 Jan.1 Deposited cash Rs. 500 to business bank account. Jan.7 Purchased office furniture for cash Rs. 700; cash sales Rs. 2,000. Jan.9 Received from Mr. Shabir a cheque for Rs. 2,550 in part payment of his account and not. Make double column cash book.Example: Mr Lehoko paid his personal telephone account of R75 with a business aheque, 4.1 4.1 contribution. He was issued with recelpt 001. Mr Lehoko deposited R35 000 directly into the business bank account as his capital 4.2 yueg 000 0 increase 4.2 %3D Equipment to the value of R2 355 was purchased (bought). 4.3 Lehoko Plumbers received R1 700 for services rendered. 4.4 Weekly wages of R800.were pald to Mr Lehoko's assistant. -500 Bank decrease 4.3 4.5 A loan to the amount of R5 000 was made with Capitec Bank. Owner's Equity - /+ Assets Liabilites No. Amount Amount +/- Amount 4.4 4.1 4.2 4.3 4.4 4.5 Record the following transactions of Lehoko Plumbers in the above table provided to ensure that the Accounting Equation is correct after every transaction. All transactions C ---01 On 1 April, the owner decided to start a laundry business. He withdrew R200 000 from personal savings account and deposited it directly into HI-Lo traders bank account 03 HI-Lo Traders obtained a loan of R30 000 with a repayment period of 12 months from invest Bank account 05 Hi-Lo Traders bought equipment from Blue Furnishers for R16 000. Hi-Lo made a payment of 16 000 directly into Hi-Lo bank account 09 A Cash sale amounting to R45 000 was made, the good were originally purchased at a cost of 35 000 13 Hl-Lo traders bought equipment on credit from Risk Furniture for R9000 15 HI-Lo Traders made a direct payment into the bank account of Risk Furnisher to pay their amount of 9000 18 The owner withdrew 1200 from the business to buy his daughter a birthday present 19 Hl-Lo Traders offered a service worth R5000 to Mr Bogus on credit 27 Hl-Lo Traders placed an advertisement in a local newspaper for R350 Payment was only due in…
- 4. Below are the transactions for the month of February 2020 for Mrs Lamuna, a soletrader: Feb 1 Started business with RM12,000 cash2 Bought goods on credit from Shahirah RM1,0003 Paid rent by cash RM2004 Paid RM11,000 of the business cash into the business bank account6 Sold goods on credit to Tini RM6007 Bought stationery by cheque RM5011 Cash sales RM10014 Returned goods to Shahirah RM15015 Sold goods on credit to Tinggasamy RM1,20018 Goods returned by Tini RM4523 Paid Shahirah by cheque RM85025 Cash purchases RM25027 Received cheque from Tinggasamy RM50028 Received commission by cash RM100Required:a. Record all the transaction in the general journal (with narration)b. Record the transaction in the appropriate ledger accounts and balance all theaccountc. Prepare the trial balance as at 28 February 2020Enter the following transactions in the accounts of L Linda: 20X7 a. July 1 Started in business with £20,000 in the bank. 2 RHughes lent us £5,000 in cash. 3 Bought goods on credit from B Brown £1,530 and I Jess £4,162. 3 Sold goods for cash £1,910. 6 Took £200 of the cash and paid it into the bank. 6 Sold goods on credit to H Rise £1,374. 8 Sold goods on credit to P Taylor £341. 9 Bought goods on credit from B Brown £488. 10 H Rise returned goods to us £65. 11 Sold goods on credit to G Pate £535 and R Sim £262. 12 We retumed goods to B Brown £94 13 Bought van on credit from Aberdeen Cars Ltd £4,370. 18 Bought office furniture on credit from J Winter Ltd £1,800. 19 We returned goods to I Jess £130. 20 Bought goods for cash £390. 22 Goods sold for cash £110. 23 Paid money owing to B Brown by cheque £1,924. 24 Goods returned to us by G Pate £34. 26 Retumed some of office furniture costing £180 to J Winter Ltd. 27 L Linda put a further £2,500 into the business in the form of cash. 30 Paid…Q.1: Journalize the following Transaction into journal post theminto ledger and Prepare Trail balance. In this question value (x) is your UNIVERSITY ROLL NUMBER. August 01: Introduced cash as capital Rs. 2,50,000 04: Purchased Goods from Noor limited Rs.5000 11: Paid to Noor Limited 4500 and discount receivedin full settlement of his account. 12: Sold Goods to Mobeen for Rs.1500 on credit. 15: withdraw cash for personal use by the ownerof the business is value Rs.(X) multiply by 2. (whereas value (X) is your university rolI number) 16: Paid salaries is Value Rs. (x) multiply by 5. (Whereas value (X) is your university roll number)