Question
AM/NS Ltd founded a start-up (AM/NSCare Ltd) to service and maintain customer relationship. The business carried out the following transactions in the first month. Record
AM/NS Ltd founded a start-up (AM/NSCare Ltd) to service and maintain customer relationship. The business carried out the following transactions in the first month. Record the transactions in the journal. [Marks 8 ] Date Transactions January 1, AMANS Ltd. invested capital Rs.85,00,000 in the company 2023 2 4 7 8 15 20 29 31 Taken loan from IDBI for Rs. 35,00,000 Received advance from a customer (MUL) Rs. 16,00,000 for which services still need to deliver Provided services to customer for cash Rs. 10,00,000. Purchased Furniture on credit from Godrej Ltd for Rs. 3,50,000 Bought goods for cash Rs. 2,80,000 Collected receivables from customer Rs. 9,85,000 and discount allowed is Rs. 15,000 Paid salaries Rs. 2,00,000 Paid interest on the loan for the month of January Rs. 85000
This is a subjective question, hence you have to write your answer in the Text-Field given below. AM/NS Ltd founded a start-up (AM/NSCare Ltd) to service and maintain customer relationship. The business carried out the following transactions in the first month. Record the transactions in the journal. [Marks 8 ]
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started