Question
Prepare the analysis of transaction 1) The owner MR Ahsan, deposited $20,000 in the business. 2) Purchased land and a small office building for a
Prepare the analysis of transaction 1) The owner MR Ahsan, deposited $20,000 in the business. 2) Purchased land and a small office building for a total price of $80,000 of which $30,000 was the value of land and $50,000 was the value of the building. Paid $20,000 in cash and signed a note payable for the remaining balance 3) Owner bought an A.C from the personal fund for personal use amounting $500. 4) Obtain a loan from MCB Bank in the amount of $18,000 and signed a note payable
i). Prepare journal entries of the transactions ii). Prepare the ledger of the above transactions iii). Prepare the trial balance of the above transactions iv). explain the rules of dr and cr with the examples
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