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Q2: Following are the selected transactions of Indus Ltd for the month of June 2015. 01 Mr. Rehan invested $10,000 cash and a Car costing
Q2: Following are the selected transactions of Indus Ltd for the month of June 2015. 01 Mr. Rehan invested $10,000 cash and a Car costing $5,000 in business. 02 Paid rent for next three month's $600. 04 Bought equipment from Hitech Co. worth $2,000 and paid $1,000 cash. Remaining amount will be paid after one month. 05 Opened a bank account for business and deposited $3,000 cash from personal assets. 07 Purchased goods from MM Co. worth $1,000. 08 Goods sold for cash $500. 10 Purchased goods for cash $800. Page 1 of 4 13 Goods taken for personal use $50 from business. 17 Purchased goods from Vishal & brothers $1,200. 20 Sold goods on credit to Kamran $300 and Ali Raza $500. 21 Goods returned by Vishal $100. 23 Paid cheque to MM Co. for goods bought. 25 Cheque paid by Kamran after deducting 5% discount. 27 Electricty bill paid amounting $120. 28 Cheque received from Kamran was deposited into bank. 30 Salaries expenses for the month is $ 600, half of it is paid on 30 June. Required: Prepare three-column cash book and balance it on June 30, 2015
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