1.D Balance off the accounts and prepare a Trial Balance On June 2019, Started Business with capital in cash Rs 400, and Rs2,200 in the bank Bought goods on credit from the following persons - J ward Rs610 01st June 2nd June -Pushpa Rs214 -Tom Rs174 -Sunny Rs500 Sold goods on Credit to Sharper Rs5000 04th June 6th June Paid rent by Cash Rs500 Sharper paid us by cheque Rs2000 Paid Carriage by cash Rs550 09th June 15th June 18th June Bought goods on credit from Bill Rs9000 21st June Sold goods on Credit to Piper Rs2600

1.D Balance off the accounts and prepare a Trial Balance On June 2019, Started Business with capital in cash Rs 400, and Rs2,200 in the bank Bought goods on credit from the following persons - J ward Rs610 01st June 2nd June -Pushpa Rs214 -Tom Rs174 -Sunny Rs500 Sold goods on Credit to Sharper Rs5000 04th June 6th June Paid rent by Cash Rs500 Sharper paid us by cheque Rs2000 Paid Carriage by cash Rs550 09th June 15th June 18th June Bought goods on credit from Bill Rs9000 21st June Sold goods on Credit to Piper Rs2600

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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QUESTION Amir's mini market was set up in January 2022. The following are the transactions for the month of April 2022. Date 2 4 a. 6 8 b. 16 20 9 Amir, the owner withdrew RM200 cash for his personal use. Purchased goods worth RM900 in cash from Daulat Trading. 10 12 The business paid off its debt to Bala Enterprise for full settlement by electronic funds transfer and received a 5% discount. 14 A credit memo of RM300 was issued to Confucius Cooperative for the return of spoilt goods. Amir invested RM15,000 in a fixed deposit by cheque. Sold goods worth RM3,500 for cash. Paid cash for utilities RM270. The business received full payment from Confucius Cooperative for the amount due after deducting a cash discount of RM30. The sum was deposited into the business's bank account. 22 24 Transaction The business purchased goods worth RM3,000 on credit from Bala Enterprise. Made a cash payment of RM150 for transport of goods purchased from Bala Enterprise. 25 26 Sold goods on credit to…
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Pearce & Sons started Business in Feb 2020. They have the following transactions at for themonth of Feb 2020.2020Feb 1 Started business with; £21,500 in the bank account, a van £25,000 and office fixtures£8002 A loan of £2,500 was received from Lloyds Bank.3 The amount of £1500 was transferred from Bank Account to Cash in hand account.4 Bought Van paying by cheque £4,8005 Bought office fixtures £1100 on credit from Quick Office Ltd8 Bought a new van on credit from Nissan Co. £5,20015 Bought office fixtures paying by cash £7019 Paid Nissan Co. a cheque for whole amount of debt25 Paid £350 of the cash in hand into the bank account28 Bought new office fixtures paying via bank account £620Required:a. Write up the transactions in the general ledger of S. Keyes b. Balance up the accounts and extract a Trial Balance as at 30 Feb 2019 please send both the requirements..need both ledger and trail balance
Prepare journal entries
S. Waweru starts business on 1st July 2020, when he deposits Shs. 18,000 into his business bank account and Shs. 2,500 in his cash account. During the month of July, he undertakes the following transactions:- 2020 July 3 He purchases shop fittings for sh. 2,500 and pays by cheque. July 4 He buys a motor vehicle from AB & Co. on credit Sh. 3,000. July 6 He buys stock for Sh. 1,500 and pays through bank. July 8 He sells goods for cash Sh.1,000. July 10 Buys goods on credit from XY & Co. for Sh. 1,200 July 12 Sells goods to A. Smith for Sh. 900 on credit July 13 Pays wages Sh. 120 by cash July 14 A. Smith returns goods worth Sh. 200 July 15 Pays to AB & Co. Sh. 3,000 by cheque July 17 Goods returned to XY & Co. amounting to Sh. 350 July 21 Receives from A. Smith a cheque for Sh. 700 July 25 Sells goods for cash Sh. 300. July 30…
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b) The Balance Sheet as at 31" March 201 Оuestion two The cash book column of Wekesa showed a credit balance of Sh.1,040,350 while the bank statement balance showed an overdraft of Sh.1,398,000 on 31 July 2019. A detailed comparison of entries revealed the following, Cheques paid to the following creditors were not presented for payment at the bank Mumbi Sh.195,400, Yash Sh.32,500, Sidhm Sh 164 300 On 31s July 2019, the sales made were Sh.1,053,700 and were deposited in the i) evening. However, the sales were not recorded by the bank until the following day. ii) The bank paid an insurance premium of Sh.75,300 because of a standing order arranged by Wekesa The bank deducted Sh.45,550 bank charges which were not yet recorded in the iv) cash book Interest received on a fixed deposit Sh.160,000 had not yet been recorded by the business. v) vi) The bank had received on behalf of Wekesa, a credit transfers of Sh.246,700 from Obiri vii) A cheque for Sh.135,500 which was paid by the bank was…
Bank Statement Responsible Bank 210 2nd Street 3. If Andre deposits $100 in this account after $ Checking Account Statement Page: 1 of 1 Anytown, MH 06930 buying the music player, will he still be in debt? How do Andre Person 1729 Euclid Ave Anytown, MH 06930 Statement Pernd 2017-10-01 to 2017-11.01 Accourt No. 1120635978 you know? Date Description Withdrawals Deposits Balance Your answer here 2017-10-03 Previous Balance 2017-10-05 Check Number 256 2017-10-06 ATM Deposit- Cash 2017-10-10 Wire Transfer 2017.10.17 Point of Sale Grocery Store 2017-10-25 Funds Transfer from Savings 2017.10-28 Check Number 257 2017-10-29 Online Payment Phone Services 39.87 11.37 56.37 18.46 203 52 03 10.03 6247 28.50 45.00 37.91 16.43 50.00 42 00 7250 %24
Prepare a columns cash book from the following transcation for the year 31 december 2019.cash in hand Rs 18000 Received from ali and co Rs 1509 discount allowed Rs 60 Cash saled Rs 30000 Paid rashid sons Rs 1509 discount received Rs 40 Purchased goods for cahs Rs 900 Received from aslam Rs 7500 and discount allowed Rs 40 Purchased furniture for cash Rs 900
3C. Compile three column cashbook of Mr. Uzair from the following transactions: 2020 Oct 1 Mr. Uzair started business with cash OMR 4000 4 Deposited into Bank OMR 2000 8 Purchased goods on credit from Haya for OMR 1000 10 Sold goods to Kawthar on credit for OMR 600 12 Goods purchased by paying cheque OMR 400 15 Paid wages OMR 40 20 Withdrew from bank for personal use OMR 200 25 Received cash from Kawthar OMR 540, in full settlement of his account 26 Paid electricity OMR 20 28 Withdrew from Bank for business use OMR 2000 30 Paid to Haya by cheque OMR 900, in full settlement of her account
Q.1 Record the following transactions into the Cash Book (Double Column) of Fazal Corp. and find out the balances at the end of the month. 2019 Sep. 1 Cash balance Sep. 2 Opened a current A/e with HBL and deposited cash therein Sep. 5 Purchase furniture and paid by cheque Sep. 6 Cash Sales Sep. 10 Received from Shoaib cash Rs. 500 and a cheque Rs. 3,000 and deposited the cheque into the bank. Sep. 15 Purchased goods and paid by cheque Sep. 20 Received cash as commission Sep. 23 Received cash in full settlement from Khalid and sent the cash into bank 500 Sep. 29 Withdrawn from bank for office use Sep. 30 Paid salary Sep. 30 Paid rent 67,700 50,000 4,500 1,000 5,800 600 5,000 7,500 400