"3 Purchased stationery for cash Rs. 8,000. " 4 Paid Mahmood & Co. Rs. 60,000 in cash. "5 Sold goods to Waheed & Sons Rs. 40,000. "5 Received cash from Qasim Bros. Rs. 30,800 and discount allowed Rs. 1,200. "6 Paid carriage Rs. 1,200 8 Bought goods for cash Rs. 12,000. "9 Sold goods to Rashid Rs. 68,000. " 10 Bought goods from Faisal & Co. Rs. 52,000. " 11 Paid Mahmood & Co. Rs. 38,000 in full settlement of their account. " 12 Paid wages Rs. 800. " 13 Paid carriage Rs. 1,600 "14 Purchased goods from Mahmood & Co. Rs. 60,000. "15 Purchased goods for cash Rs. 16,000. "17 Goods sold to Waheed & Sons for Rs. 72,000. " 18 Cash received from Waheed & Sons Rs. 80,000. " 19 Bought goods from Ahsan Rs. 30,000. "19 Sold goods for cash Rs. 32,000. " 20 Paid wages in cash Rs. 1,600. " 21 Paid to Ahsan Rs. 28,800 in full settlement of his account. %3D 11 %1 %D %3D " 22 Sold goods to Qasim Bros. Rs. 52,000. " 23 Bought goods from Mahmood & Co. for Rs. 96,000. " 24 Cash purchases Rs. 29,200. " 25 Cash paid to Mahmood & Co. Rs. 80,000. " 26 Cash received from Qasim Bros. Rs. 40,000. " 27 Paid carriage Rs. 1,600. " 28 Paid electricity bill Rs. 2,000. " 28 Paid rent Rs. 3,200. " 29 Owner withdrew cash for personal use Rs. 6,000. " 29 Paid salaries Rs. 5,600. VIBE %3D ns: [Trial Balance Total Rs. 627,200]
"3 Purchased stationery for cash Rs. 8,000. " 4 Paid Mahmood & Co. Rs. 60,000 in cash. "5 Sold goods to Waheed & Sons Rs. 40,000. "5 Received cash from Qasim Bros. Rs. 30,800 and discount allowed Rs. 1,200. "6 Paid carriage Rs. 1,200 8 Bought goods for cash Rs. 12,000. "9 Sold goods to Rashid Rs. 68,000. " 10 Bought goods from Faisal & Co. Rs. 52,000. " 11 Paid Mahmood & Co. Rs. 38,000 in full settlement of their account. " 12 Paid wages Rs. 800. " 13 Paid carriage Rs. 1,600 "14 Purchased goods from Mahmood & Co. Rs. 60,000. "15 Purchased goods for cash Rs. 16,000. "17 Goods sold to Waheed & Sons for Rs. 72,000. " 18 Cash received from Waheed & Sons Rs. 80,000. " 19 Bought goods from Ahsan Rs. 30,000. "19 Sold goods for cash Rs. 32,000. " 20 Paid wages in cash Rs. 1,600. " 21 Paid to Ahsan Rs. 28,800 in full settlement of his account. %3D 11 %1 %D %3D " 22 Sold goods to Qasim Bros. Rs. 52,000. " 23 Bought goods from Mahmood & Co. for Rs. 96,000. " 24 Cash purchases Rs. 29,200. " 25 Cash paid to Mahmood & Co. Rs. 80,000. " 26 Cash received from Qasim Bros. Rs. 40,000. " 27 Paid carriage Rs. 1,600. " 28 Paid electricity bill Rs. 2,000. " 28 Paid rent Rs. 3,200. " 29 Owner withdrew cash for personal use Rs. 6,000. " 29 Paid salaries Rs. 5,600. VIBE %3D ns: [Trial Balance Total Rs. 627,200]
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Balance tolal
Ri, 170,800]
Enter the following transactions in the Journal of a trader. Post in the Lade
prepare a trial Balance:
2017
Feb. 1 Started business with cash Rs. 200,000.
"2 Bought goods from Mahmood & Co. worth Rs. 100,000.
"2 Bought furniture for cash Rs. 16,000.
"2 Sold goods to Qasim Bros. for Rs. 32,000.
"3 Purchased stationery for cash Rs. 8,000.
"4 Paid Mahmood & Co. Rs. 60,000 in cash.
"5 Sold goods to Waheed & Sons Rs. 40,000.
"5 Received cash from Qasim Bros. Rs. 30,800 and discount allowed Rs. 1,200.
"6 Paid carriage Rs. 1,200
"8 Bought goods for cash Rs. 12,000.
"9 Sold goods to Rashid Rs. 68,000.
" 10 Bought goods from Faisal & Co. Rs. 52,000.
"11 Paid Mahmood & Co. Rs. 38,000 in full settlement of their account.
"12 Paid wages Rs. 800.
"13 Paid carriage Rs. 1,600
"14 Purchased goods from Mahmood & Co. Rs. 60,000.
"15 Purchased goods for cash Rs. 16,000.
" 17 Goods sold to Waheed & Sons for Rs. 72,000.
" 18 Cash received from Waheed & Sons Rs. 80,000.
"19 Bought goods from Ahsan Rs. 30,000.
"19 Sold goods for cash Rs. 32,000.
" 20 Paid wages in cash Rs. 1,600.
" 21 Paid to Ahsan Rs. 28,800 in full settlement of his account.
" 22 Sold goods to Qasim Bros. Rs. 52,000.
" 23 Bought goods from Mahmood & Co. for Rs. 96,000.
" 24 Cash purchases Rs. 29,200.
" 25 Cash paid to Mahmood & Co. Rs. 80,000.
" 26 Cash received from Qasim Bros. Rs. 40,000.
" 27 Paid carriage Rs. 1,600.
" 28 Paid electricity bill Rs. 2,000.
"28 Paid rent Rs. 3,200.
" 29 Owner withdrew cash for personal use Rs. 6,000.
"29 Paid salaries Rs. 5,600.
Ans: [Trial Balance Total Rs. 627,200]](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F068af7ea-6946-48c0-979d-c4f41114f7c6%2F09fd30fe-3c21-43c8-ab81-f011b2fce761%2Fc9g9zc9_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Balance tolal
Ri, 170,800]
Enter the following transactions in the Journal of a trader. Post in the Lade
prepare a trial Balance:
2017
Feb. 1 Started business with cash Rs. 200,000.
"2 Bought goods from Mahmood & Co. worth Rs. 100,000.
"2 Bought furniture for cash Rs. 16,000.
"2 Sold goods to Qasim Bros. for Rs. 32,000.
"3 Purchased stationery for cash Rs. 8,000.
"4 Paid Mahmood & Co. Rs. 60,000 in cash.
"5 Sold goods to Waheed & Sons Rs. 40,000.
"5 Received cash from Qasim Bros. Rs. 30,800 and discount allowed Rs. 1,200.
"6 Paid carriage Rs. 1,200
"8 Bought goods for cash Rs. 12,000.
"9 Sold goods to Rashid Rs. 68,000.
" 10 Bought goods from Faisal & Co. Rs. 52,000.
"11 Paid Mahmood & Co. Rs. 38,000 in full settlement of their account.
"12 Paid wages Rs. 800.
"13 Paid carriage Rs. 1,600
"14 Purchased goods from Mahmood & Co. Rs. 60,000.
"15 Purchased goods for cash Rs. 16,000.
" 17 Goods sold to Waheed & Sons for Rs. 72,000.
" 18 Cash received from Waheed & Sons Rs. 80,000.
"19 Bought goods from Ahsan Rs. 30,000.
"19 Sold goods for cash Rs. 32,000.
" 20 Paid wages in cash Rs. 1,600.
" 21 Paid to Ahsan Rs. 28,800 in full settlement of his account.
" 22 Sold goods to Qasim Bros. Rs. 52,000.
" 23 Bought goods from Mahmood & Co. for Rs. 96,000.
" 24 Cash purchases Rs. 29,200.
" 25 Cash paid to Mahmood & Co. Rs. 80,000.
" 26 Cash received from Qasim Bros. Rs. 40,000.
" 27 Paid carriage Rs. 1,600.
" 28 Paid electricity bill Rs. 2,000.
"28 Paid rent Rs. 3,200.
" 29 Owner withdrew cash for personal use Rs. 6,000.
"29 Paid salaries Rs. 5,600.
Ans: [Trial Balance Total Rs. 627,200]
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 6 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education