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Journalize the following transactions toke place in September: Post to ledger book. Prepare the trial balance. Transactions: Started business with cash AED 400,000. Deposited AED
- Journalize the following transactions toke place in September:
- Post to ledger book.
- Prepare the trial balance.
Transactions:
- Started business with cash AED 400,000.
- Deposited AED 50,000 in a bank.
- Purchased goods on credit from Mr. John for AED 20,000
- Purchased goods for cash AED 10,000
- Borrowed cash (loan) AED 20,000 from Mr. Y
- Paid Creditor Mr. John by cheque AED 10,000.
- Paid loan to Mr. Y AED 7,000
- Cash paid as salaries of employees AED 50,000.
- Furniture purchased for AED 25,000 paid cash
- Withdrawn AED 12,000 cash from business for personal use.
- Sold goods costing AED 7,000 to Mr. K for AED 12,000 on credit
- Bought land for AED 80,000.
- Received AED 7,000 from Mr. K by cheque
- Withdrawn AED 10,000 from bank for personal use.
- Paid: wages, AED 2,125; rent, AED 800 and miscellaneous, AED 275.
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