Question
PQR Inc. has the following transactions during the year: Date Particulars Amount () Jan 1 Equity Share Issued 5,00,000 Feb 15 Machinery Purchased 2,50,000 Mar
PQR Inc. has the following transactions during the year:
Date | Particulars | Amount (₹) |
Jan 1 | Equity Share Issued | 5,00,000 |
Feb 15 | Machinery Purchased | 2,50,000 |
Mar 10 | Sales Revenue | 12,00,000 |
Apr 25 | Salaries Paid | 3,00,000 |
May 30 | Rent Received | 1,00,000 |
- PREPARE the journal entries for the above transactions.
- POST the entries to the ledger accounts.
- PREPARE the trial balance as of 31st May.
- ANALYZE the impact of machinery purchase on cash flow.
- DISCUSS the potential benefits of issuing equity shares for financing.
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Survey of Accounting
Authors: Thomas Edmonds, Christopher Edmonds, Philip Olds, Frances McNair, Bor Yi Tsay
5th edition
1259631125, 978-1259631122
