Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

185 14. Cash Book On March 01, Akhtar Brothers had cash on hand Rs. 25,000 and cash in bank Rs.20,000. During the month following transactions

image text in transcribed
185 14. Cash Book On March 01, Akhtar Brothers had cash on hand Rs. 25,000 and cash in bank Rs.20,000. During the month following transactions were performed. March 04 - Cash Sales Rs. 6,000. March 05 - Deposited cash in to bank Rs. 7,000 March 09 - Cash Purchases Rs. 3,000. March 14 - Paid Wages in Cash Rs. 500. March 17 - Received Cash Rs. 540 from Hamid Sons in full settlement of their account of Rs.600. March 20, Received cheque for Rs. 1,006 from Mr. Hamza and deposited the same in the Bank March 22, Mr. Aslam withdraw from Bank Rs. 2,000 for personal use. March 28, Issued a cheque payable to Mr. Saif for Rs. 800 in full settlement of his account of Rs. 840. Required: A. Enter the opening balances and record the above transaction in a three column cash book. B. Balance the Cash Book on March 31, 1990 and show the opening balance on April 01, 1990. G Continued on next nege

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

Financial Statement Analysis And Earnings Forecasting In Accounting

Authors: Steven J Monahan

1st Edition

1680834509, 978-1680834505

More Books

Students also viewed these Accounting questions