Record the following transactions in appropriate subsidiary books: Date 2010 January 1 January 2 January 3 January
Question:
Record the following transactions in appropriate subsidiary books:
Transcribed Image Text:
Date 2010 January 1 January 2 January 3 January 3 January 4 January 5 January 6 January 7 January 8 January 9 January 10 January 12 Transaction Deepak started business with cash 2,50,000 and machinery worth 1,50,000 Deposited cash into bank 1,30,000 Purchased furniture in cash 22,000 Purchased equipment of 15,000 and issued cheque Purchased goods from Ramesh and issued cheque * 12,000 Purchased goods from Ram of ₹ 22,500 Paid rent for the month 3,000 by cheque Sold goods of 33,500 to Mukesh Sold goods of 51,000 to Naveen Purchased goods from Shyam of MRP 10,000 at 10% trade discount Received cheque from Mukesh ₹ 33,500 Purchased stationery of 1,400
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (3 reviews)
Transaction related to credit purchase are to be recorded in purchase ...View the full answer
Answered By
Ehsan Mahmood
I’ve earned Masters Degree in Business Studies and specialized in Accounts & Finance. Couple with this, I have earned BS Sociology from renowned institute of Pakistan. Moreover, I have humongous teaching experience at Graduate and Post-graduate level to Business and humanities students along with more than 7 years of teaching experience to my foreign students Online. I’m also professional writer and write for numerous academic journals pertaining to educational institutes periodically.
4.90+
248+ Reviews
287+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Presented below are a number of transactions for the City of Smithville that occurred during fiscal year 2017, the year for which the budget given in Chapter 3 was recorded. Read all instructions...
-
Record the following transactions in general journal form on the books of the seller (Fuentes Company) and then on the books of the buyer (Lowe Company) using the periodic inventory system. Fuentes...
-
Record the following transactions on the books of Keyser Co. (a) On July 1,Keyser Co. sold merchandise on account to Maxfield Inc. for $15,200, terms 2/10, n/30. (b) On July 8, Maxfield Inc. returned...
-
What are the delta and gamma of an option?
-
In this simulation, you are asked to address questions regarding the FASB conceptual framework. Prepare responses to allparts. KWW Professlonal Simulation Conceptual Framework Time Remaining 4 hours...
-
Assume that a procedure yields a binomial distribution with a trial repeated n times. Use the binomial probability formula to find the probability of x successes given the probability p of success on...
-
PR 18-1 What are the special requirements for the presentation of financial statements for a firm that is operating under Chapter 11 Bankruptcy protection?
-
Here are earnings per share for two companies by quarter from the first quarter of 2009 through the second quarter of 2012. Forecast earnings per share for the rest of 2012 and 2013. Use exponential...
-
XYZ Company uses normal costing. Following are various cost and inventory data for the just completed year: Sales revenue OMR460,000; Adjusted gross profit OMR175,000; Selling and admin expenses...
-
Record the following transactions in the petty cash book: On January 1, 2010 petty cash clerk was provided with an imprest amount of 1,000 and he/she incurred the following expenses during the month:
-
D.N. Enterprises executed the following transactions: Date 2010 April 1 April 2 April 10 April 11 April 15 April 17 April 18 April 19 April 20 April 21 April 24 April 29 April 30 Transactions Cash in...
-
Brenda Jones is a newly qualified accountant who is carrying out her first audit as the in-charge auditor for a construction company client that is engaged in a range of long-term contracts. Brenda...
-
1. Gluteus maximus muscle and mention the structures covered by it.
-
2. External features and relations of Kidney.
-
3. Features of Synovial joint and its classification.
-
1. Name the paranasal air sinuses.
-
2. Name the ventricles of Brain.
-
What are some of the techniques that can be used to apply a thermal spray coating?
-
Differentiate the following terms/concepts: a. Personality types and money attitudes b. Planners and avoiders c. Moderating and adapting to biases d. "Perfectible judges" and "incorrigible judges"
-
This information (in millions) is available for the Automotive and Other Operations Divisions of General Motors Corporation for a recent year. General Motors uses the LIFO inventory method. Beginning...
-
Singer Inc. is a retailer operating in Edmonton, Alberta. Singer uses the perpetual inventory method. All sales returns from customers result in the goods being returned to inventory. (Assume that...
-
Premier Center began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases and sales. Instructions(a) Determine the ending inventory under a...
-
4. The risk-free rate of return is 3.78% and the market risk premium is 6.42%. What is the expected rate of return on a stock with a beta of 1.09?
-
Maddox Resources has credit sales of $ 1 8 0 , 0 0 0 yearly with credit terms of net 3 0 days, which is also the average collection period. Maddox does not offer a discount for early payment, so its...
-
Selk Steel Co., which began operations on January 4, 2017, had the following subsequent transactions and events in its long-term investments. 2017 Jan. 5 Selk purchased 50,000 shares (25% of total)...
Study smarter with the SolutionInn App