Question
Prerana started Designer Garments. The following transactions took place in the first month i.e Apri 2021 April 01: Prerana invested cash in the company's share
Prerana started Designer Garments. The following transactions took place in the first month i.e Apri 2021
April 01: Prerana invested cash in the company's share capital Rs.75000/
April 02: Paid rent deposit for premises, Rs.15000/-
April 03: Purchased goods on credit Rs.24000r-from X
April 14: Paid electricity expenses Rs.1250/-
April 20: Sold goods to Y on credit, Rs. 16000/-
You are required to analyze each transaction. Make journal entries, post them to respective ledger accounts and prepare a trial balance at the month end.
Step by Step Solution
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Journal entries for each of the transaction is presented belo...
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Accounting Principles
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
7th Canadian Edition Volume 2
1119048478, 978-1119048473
