Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

8. Post ledger accounts for the following journal entries April Date 2016 1 Cash General Journal Account Title and Explanations Owner's Equity Anees (Started business

8. Post ledger accounts for the following journal entries April Date 2016 1 Cash General Journal Account Title and Explanations Owner's Equity Anees (Started business with cash) Amount (Rs) Ref Debit Credit 100,000 100,000 2 Furniture Cash 7,000 7,000 (Purchase furniture for cash) Purchases 3.000 Cash 2.000 Account Payable Khalid Retail Store 1,000 (Purchase good on cash and credit) 14 Cash Account Receivables_Khan Brothers 5.000 12.000 17,000 Sales (Cash and Credit Sales recorded) 18 Drawing Cash 2.000 2,000 (Owner withdrew for personal use) 22 Account Payable Khalid Retail Store 500 Cash 500 (Paid credit to Khalid Retail Store) 26 Cash 10,000 Account Receivable Khan Brothers 10,000 (Receive cash from credit customer) 30 Salaries Expense Cash 2.000 2,000 (Paid expenses) Total Rs. 141,500 Rs. 141,500

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

Students also viewed these Accounting questions