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tion 3: Record the following transactions in Journal and prepare trial balance from the book of Mr. Saeed. (10) i. Mr. Saeed started business with
tion 3: Record the following transactions in Journal and prepare trial balance from the book of Mr. Saeed. (10) i. Mr. Saeed started business with cash Rs. 370000 on 01-03-2021. ii. Purchased goods on account from Mr. Asif worth Rs. 30000 on 02-01-2021. iii. Sold goods to Shahid & Sons for Rs. 44000 on 03-01-2021. iv. Purchased HP Computer for office use for Rs. 100000 on 04-01-2021. v. Shahid & Sons returned the goods worth Rs. 4000 on 05-01-2021. vi. Opened a bank account by depositing the cash Rs. 110000 on 14-01-2021. vii. Rs. 35000 received from Shahid & Sons after full settlement. viii. Rs. 28000 was paid to Mr. Asif for purchased goods on 18-01-2021 ix. Withdrew cash from Bank & goods for Rs. 6000 & 9000 respectively for personal use on 26-01-2021. X. Commission received for Rs. 12500 on 30-01-2021. xi. Misc. Expenses paid for Rs. 70000 by cheque on 31-01-2021
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