Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1 . Ms . Anisha has the following transactions in the month of July. Record them in the journal, show postings in the ledger, and

1. Ms. Anisha has the following transactions in the month of July. Record them in the journal, show postings in the ledger, and balance the accounts.
July 1st : Anisha started the business with a capital of 75,0001st : Purchased goods from Roy on credit 25,000
2nd : Sold goods to Ram 20,000
3rd : Purchased goods from Ann 15,0004th : Sold goods to Tanvi for cash 16,0005th : Goods returned to Roy 2,000
6th : Bought furniture for 15,000
7th : Bought goods from Zain 12,0008th : Cash paid to Roy 10,000
9th : Sold goods to John 13,500
10th : Goods returned from Ram 3,00011th : Cash received from John 5,500
12th : Goods taken by Anisha for domestic use 3,00013th : Returned Goods to Zain 1,000
14th : Cash received from Ram 12,00015th : Bought machinery for 18,000
16th : Sold part of the furniture for 1,000
17th : Cash paid for the purchase of bicycle for Anisha's son 1,500
19th : Cash sales 15,000
20th : Cash purchases 13,500

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield

13th Edition

9780470374948, 470423684, 470374942, 978-0470423684

More Books

Students also viewed these Accounting questions