Question
Record the following transactions in cash book of Aslam Traders. Also calculate the balalance on 15 Jan 2020: Balances as on 1 Jan 2020: Cash
Record the following transactions in cash book of Aslam Traders. Also calculate the balalance on 15 Jan 2020: Balances as on 1 Jan 2020: Cash at Bank: Rs. 500,000, Cash in Hand: Rs. 200,000 1 Jan Sold goods on cash Rs. 20000 1 Ian Paid Salaries through a cheque Rs. 50000 2 Jan Purchased a motor-cycle for Rs. 20000 through a cheque 3 Jan Paid wages in cash Rs. 2000 4 Jan Sold goods on cash Rs. 10000, 2% cash discount was allowed 5 Jan Issued a cheque to Asim Traders Rs. 9500 after deducting 5% cash discount 6 Jan Sold goods in cash Rs. 10000 7 Jan Deposited cash in bank account Rs. 15000 8 Jan Purchased goods in cash Rs. 5000, received 2% cash discount 9 Jan Paid maintenance in cash Rs. 1500 10 Jan Purchased goods Rs. 10000, payment was made through a cheque 11 Jan Received a cheque Rs. 19600 from Ahmed traders net of 4% cash discount 12 Jan Cash withdrawn from bank account Rs. 15000 13 Jan Sold goods Rs. 20000, payment was received through a cheque 14 Jan Purchased stationary in cash Rs. 5000 15 Jan Sold goods in cash Rs. 10000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started