Q1) Prepare general entries to record these transactions in the book of Ubaid & Co. using a periodic inventory system. (4 Marks) 1. 1st January purchased merchandise from Rahat Bros. for 200000. Terms 2/10, n/30. FOB shipping point. 2. On 6 Feb, paid freight cost of 6200 on merchandise purchased from Rahat Bros. 3. On Feb 9 purchased on account for 60000. 4. On Feb 9, returned goods to Rahat Bros costing 15000. 5. On 15 Feb, paid the amount due to Rahat Bros in full. Q2) Prepare Bank Reconciliation Statement as on 31st October 2017. 1. On October 31, 2017 the balance as per Cash Book was 3000. 2. Bank Charges of 136 entered on the bank statement have not been entered in the cash book. 3. Cheques drawn amounting to 267 had not been presented to the bank for payment. 4. Cheques received totaling to 762 has been entered in the cash book and paid into the bank, but not been credited by the bank until 3 November. 5. A Cheque for 22 for S. had been entered in the cash book as a receipt instead of as payment. 6. A Cheque received from K Jones for the 80 had been returned by the bank and marked (no funds available) no adjustment has been made in the cash book. 7. A Cheque drawn for 66 for stationary had been incorrectly entered in the cash book as 60. (6 Marks) Q 3) Write up a two column cash book for a pine furniture shop from the following details and balance it off at the end of the month. (5 Marks) 2012 May 1: started business with capital in cash $ 5000. 2: Paid rent by cash $ 500. 3: Jibran lent us 6000, paid by Cheque. 4: William paid J. fine by Cheque 9000. 5: cash sales 400 6: Farooq paid us by Cheque 100 and the Cheque was banked. 7: cash sales paid direct into the bank 300. 15: Penhood paid us in cash 350 16: William took 2000 out of the cash till paid it into the bank account Farooq Cheque returned dishonored. William repaid Rohail 1000 by Cheque. cash sale paid direct into the bank 600 paid motor expenses by Cheque 230 withdraw 160 cash from the bank for business use. 16: 17: 22: 26: 30: