12 Javed Jeffery had the following assets and liabilities on 1 May Cash at Bank, Rs 72,000 Cash in Hand, Rs 6,000 Furniture, Rs 10,000 Debtors Jabbar Rs 25,000, Jamil Rs 32,000 Stock, Rs 65,000 Creditors Janbaaz Rs 12,000 Jamaluddin Rs 18,000 May 1 He made the following transactions during the month of May Sold goods on credit to Jabbar, Rs 7,500 Sold goods for cash, Rs 8,250 2 3 Paid wages in cash, Rs 520 4 Bought goods on credit from Jamaluddin, Rs 20,000 Received a cheque from Jamil, Rs 25,000, less 2 cash discount 6 Settled Janbaaz's account by sending him a cheque for Rs 11,640 5 7 9 Goods returned by Jabbar, Rs 1,000 net Returned goods to Jamaluddin, Rs 4,000 net Paid wages in cash, Rs 425 10 11 Bought goods from Janbaaz, Rs 25,000 12 Took cash for personal use, Rs 2,500 13 Took goods for personal use, Rs 1,850 14 Sold goods to Jamil, Rs 12,000, less 20 trade discount Returned goods to Janbaaz, Rs 5,000 net 16 Goods returned by Jamil, Rs 2,400 net 17 Paid wages in cash, Rs 475 15 12 Javed Jeffery had the following assets and liabilities on 1 May Cash at Bank, Rs 72,000 Cash in Hand, Rs 6,000 Furniture, Rs 10,000 Debtors Jabbar Rs 25,000, Jamil Rs 32,000 Stock, Rs 65,000 Creditors Janbaaz Rs 12,000 Jamaluddin Rs 18,000 May 1 He made the following transactions during the month of May Sold goods on credit to Jabbar, Rs 7,500 Sold goods for cash, Rs 8,250 2 3 Paid wages in cash, Rs 520 4 Bought goods on credit from Jamaluddin, Rs 20,000 Received a cheque from Jamil, Rs 25,000, less 2 cash discount 6 Settled Janbaaz's account by sending him a cheque for Rs 11,640 5 7 9 Goods returned by Jabbar, Rs 1,000 net Returned goods to Jamaluddin, Rs 4,000 net Paid wages in cash, Rs 425 10 11 Bought goods from Janbaaz, Rs 25,000 12 Took cash for personal use, Rs 2,500 13 Took goods for personal use, Rs 1,850 14 Sold goods to Jamil, Rs 12,000, less 20 trade discount Returned goods to Janbaaz, Rs 5,000 net 16 Goods returned by Jamil, Rs 2,400 net 17 Paid wages in cash, Rs 475 15

Question

12  Javed Jeffery had the following assets and liabilities on 1 May  Cash at Bank, Rs  72,000  Cash in Hand, Rs  6,000  Furniture, Rs  10,000  Debtors  Jabbar Rs  25,000, Jamil Rs  32,000  Stock, Rs  65,000  Creditors  Janbaaz Rs  12,000  Jamaluddin Rs  18,000  May 1 He made the following transactions during the month of May  Sold goods on credit to Jabbar, Rs  7,500  Sold goods for cash, Rs  8,250  2 3 Paid wages in cash, Rs  520  4 Bought goods on credit from Jamaluddin, Rs  20,000  Received a cheque from Jamil, Rs  25,000, less 2  cash discount  6 Settled Janbaaz's account by sending him a cheque for Rs  11,640  5 7 9 Goods returned by Jabbar, Rs  1,000 net  Returned goods to Jamaluddin, Rs  4,000 net  Paid wages in cash, Rs  425 10 11 Bought goods from Janbaaz, Rs  25,000  12 Took cash for personal use, Rs  2,500  13 Took goods for personal use, Rs  1,850  14 Sold goods to Jamil, Rs  12,000, less 20  trade discount  Returned goods to Janbaaz, Rs  5,000 net  16 Goods returned by Jamil, Rs  2,400 net  17 Paid wages in cash, Rs  475  15 12  Javed Jeffery had the following assets and liabilities on 1 May  Cash at Bank, Rs  72,000  Cash in Hand, Rs  6,000  Furniture, Rs  10,000  Debtors  Jabbar Rs  25,000, Jamil Rs  32,000  Stock, Rs  65,000  Creditors  Janbaaz Rs  12,000  Jamaluddin Rs  18,000  May 1 He made the following transactions during the month of May  Sold goods on credit to Jabbar, Rs  7,500  Sold goods for cash, Rs  8,250  2 3 Paid wages in cash, Rs  520  4 Bought goods on credit from Jamaluddin, Rs  20,000  Received a cheque from Jamil, Rs  25,000, less 2  cash discount  6 Settled Janbaaz's account by sending him a cheque for Rs  11,640  5 7 9 Goods returned by Jabbar, Rs  1,000 net  Returned goods to Jamaluddin, Rs  4,000 net  Paid wages in cash, Rs  425 10 11 Bought goods from Janbaaz, Rs  25,000  12 Took cash for personal use, Rs  2,500  13 Took goods for personal use, Rs  1,850  14 Sold goods to Jamil, Rs  12,000, less 20  trade discount  Returned goods to Janbaaz, Rs  5,000 net  16 Goods returned by Jamil, Rs  2,400 net  17 Paid wages in cash, Rs  475  15

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12. Javed Jeffery had the following assets and liabilities on 1 May: Cash at Bank, Rs. 72,000; Cash in Hand, Rs. 6,000; Furniture, Rs. 10,000.

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