Question
Salman & Co commenced business of Trading in Books on 01-04-2018 with a capital of Ro.45000.The transactions for the month of April 2015 are as
Salman & Co commenced business of Trading in Books on 01-04-2018 with a capital of Ro.45000.The transactions for the month of April 2015 are as under
02-04-15 Purchased goods on cash from Ahmed for Ro.8000
02-04-15 Conveyance charges paid
02-04-15 purchased furniture for Ro.3000
04-04-15 Credit purchases from Mazda & Co Ro.8000
05-04-15 cash sales to Nissan&Co Ro.6000
06-04-15 Cash deposited in Bank muscat of Ro.5000
08-04-15 credit sales to Renault Ro.9000
10-04-15 Cheque issued to Mazda &Co Ro.3000
12-04-15 Cheque received from Renault &CoRo.5800 in full settlement.
15-04-15 Credit purchases from Kia Ro.5500
15-04-15 cheque issued for Ro.1500 to mazda & Co in full settlement
20-04-15 Electricity charges paid through cheque Ro.450
21-04-15 Credit sales to BMW & Co Ro.7200
24-04-15 Salaries paid in cash to C Ro.1000 & Cheque Ro.800 to B
25-04-15 Cash sales to Kia Ro.3200
26-04-15 Cheque received from BMW & Co Ro.8200
27-04-15 Goods sold to Car& Co for Ro.6000
28-04-15 Rent paid for the month Ro.500
28-04-15 Cheque issued to Kia Ro.5500
29-04-15 purchases made from Renault &Co worth Ro.3500
29-04015 Cheque book charges Ro.50
30-04-15 Interest Received on account Ro.85
30-04-15 Cash drawn for personal use Ro.1000
30-04-08 Cheques received from Car & Co in full settlement Ro.9000
Adjustment
Closing Stock Ro.10,000
Deprecation charged at 1% per month
Prepare accounts of above transaction using computers, prepare ledger, Journal, Trial Balance, Profit and loss Account and Balance Sheet.
Step by Step Solution
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Ledger Ahmed Debit 020415 Purchases 8000 Credit Journal 020415 Debit Purchases 8000 Debit Furniture ...Get Instant Access to Expert-Tailored Solutions
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