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Do Journal, Ledgers and Trial balance of all these transactions. Your trial balance must be same. Cash brought in by proprietor as capital Rs. 500000
Do Journal, Ledgers and Trial balance of all these transactions. Your trial balance must be same.
- Cash brought in by proprietor as capital Rs. 500000
- Goods purchased on credit from Rehan Rs. 300000
- Furniture purchased for cash Rs. 200000
- Rent paid for Shop to Landlord Rs. 50000
- Commission received in cash Rs. 100000
- Cash withdrawn from bank for investment use Rs. 400000
- Loan taken Rs. 250,000
- Interest on Loan due but not paid in cash. Rs. 800,000
- Paid Salaries Expense Rs 600,000
- Services are performed in Town and clients are billed for 20,000
- Ali started business with capital of Rs. 150,000 and Land worth Rs. 50,000
- Monthly insurance has been paid by cheque Rs. 40,000
- Purchased Land for Rs. 700,000, Paid Rs. 300,000 by cheque and remaining Rs. 400,000 is still to be paid.
- Received discount Rs. 40,000 and Commission Rs. 200,000
- Loan taken from Bank of Rs. 600,000 for Business in Town. Rs 500,000 withdrawn for business and remaining in the bank account.
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