Q No.12 Use following title of accounts to complete journal entries of given transactions.

CASH A/C RECEIVABLE A/C PAYABLE RENT EXPENSE DRAWING CAPITAL SALARIES EXPENSE FURNITURE SERVICE INCOME SUPPLIESEQUIPMENT

1. Mr. A deposited into bank Rs.50,000 to start a business 2. Paid rent for three months at Rs.2500 per month 3. Bought office equipment from B&Co. for Rs. 10000, paid to them Rs.3000 and promised to pay the balance after two months. 4. Rendered services to clients and received cash Rs. 5000 5. Purchase supplies for cash Rs. 400 6. Paid salaries to staff Rs. 5400 7. Bought furniture for Rs. 3200,paid to K&Co. Rs.1200 and promised to pay balance after one month 8. Withdrew cash for personal use Rs. 3000 9. Billed to Nasir for services rendered Rs. 12500 10. Received from Nasir Rs.5000

INSTRUCTION a. Prepare journal entries b. Post to ledger accounts c. Prepare a trial balance at July 31,2005