Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

H&Y Construction Company started a new business following transactions held in the month of March 2020. Journalize the given transaction in General Jourmal of H&Y

H&Y Construction Company started a new business following transactions held in the month of March 2020. Journalize the given transaction in General Jourmal of H&Y Construction Company in proper format. March 1: Mr. Hammad the owner of business deposited Rs. 5 million in company's bank account. March 5: Paid 6 months advance rent for office building @Rs. 10,000 per month. March 10: Purchased fixtures for the plant Rs. 5,000. March 15: Paid Rs. 3,000 for the repair and maintenance of plant March 20: Consulting Fees received from the clients for the services rendered Rs. 5,000. March 22: A credit customer of made IBFT for the services rendered Rs.10,000. March 25: Payment made to the foreign consultant hired for the project Rs 6,000. March 26: Fixture Costing Rs.20,000 Having a book value Rs 5,000 were sold for Rs. 4,00. March 27: Paid monthly utility bill of Rs. 1 500

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

Recommended Textbook for

Accounting Theory

Authors: Contemporary Accounting Issues

1st Edition

9780324107845

More Books

Students also viewed these Accounting questions

Question

Describe the major components of a business plan.

Answered: 1 week ago