Question
On January 1, 2023, Zensar Ltd. set up Yellow.ai - An artificial intelligence Company and concluded the following activities during the first month. Analyze the
On January 1, 2023, Zensar Ltd. set up Yellow.ai - An artificial intelligence Company and concluded the following activities during the first month. Analyze the impact of no effect of the following activities on the Statement of Sources and Application bc of Funds (Balance Sheet). Answer the questions below.in theformat given
- Zensar invested US $30,000 cash in the company's share capital.
- Bought five laptops for cash, $ 10,000 for office use
- Filled petrol in office vehicle for $1,000 on payment of $800; balance to be paid in two weeks.
- Received advance payment from a customer (Innowise Group), $22,000.
- Bought stationeries for office on credit of $ 2,000.
(f) Received cash for services provided $ 15,000.
(g) Billed customer (AE Studio) for services $ 7,200.
*(h) Paid office electricity bill of $ 3,000.
(1) Paid the amount due in (c) $200.
j. Collected payment from customers billed in (g) $ 3,900.
(k) Provided services to the customer Innowise Group in (d).
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