3. SE Enter the following transactions in the Journal of a trader. Post in the Ledger and prepare a trial Balance : 1992 Feb. 1 Started business with cash Rs. 100,000. "2 Bought goods from Mahmood & Co. worth Rs. S0,000. "2 Rought furniture for cash Rs. 8,000. "2 Sold goods to Qasim Bros. for Rs. 16,000. "3 Purchased stationery for cash Rs. 4,000. "4 Paid Mahmood & Co. Rs. 30,000 in cash, "5 Sold goods to Waheed & Sons Rs. 20,000. "S Recelved cash from Qasim Bros. Rs. 15,400 and discount allowed Ra. s00. "6 Paid carringe Rs. 800 "S Bought goods for cash Rs. 6,000. "9 Sold goods to Rashid Rs. 34,000. " 10 Bought goods from Faisal & Co. Rs. 26,000. "II Paid Mahmood & Co. Rs. 19,000 in full settlement of their account. "12 Paid wages Rs. 400. "13 Paid earriage Rs. 800 " 14 Purchased goods from Mahmood & Co. Rs. 30,000. "15 Purchased goods for cash Rs. 8.000. "17 Goods sold to Waheed & Sons for Rs. 36,000. "18 Cash received from Waheed & Sons Rs. 40,000. "19 Bought goods from Ahsan Rs. 15,000. " 19 Sold goods for cash Rs. 16,000. " 20 Paid wages in cash Rs. H00. "21 Paid to Ahsan Rs. 14,400 in full settlement of his account. " 22 Sold goods to Qasim Bros. Rs. 26,000. " 23 Bought goods from Mahmood & Ca. for Rs. 48,000. " 24 Cash purchases Rs. 14,600. " 25 Cash paid to Mahmood & Co. Rs. 40,000. " 26 Cash received from Qasim Bros. Rs. 20,000. " 27 Paid carriage Rs. 800. " 28 Paid electricity bill Rs. 1,000, " 28 Paid rent Rs. 1600. " 29 Owner withdrew cash for personal use Rs. 3,000. " 29 Paidealaries Ra. 2,800.
3. SE Enter the following transactions in the Journal of a trader. Post in the Ledger and prepare a trial Balance : 1992 Feb. 1 Started business with cash Rs. 100,000. "2 Bought goods from Mahmood & Co. worth Rs. S0,000. "2 Rought furniture for cash Rs. 8,000. "2 Sold goods to Qasim Bros. for Rs. 16,000. "3 Purchased stationery for cash Rs. 4,000. "4 Paid Mahmood & Co. Rs. 30,000 in cash, "5 Sold goods to Waheed & Sons Rs. 20,000. "S Recelved cash from Qasim Bros. Rs. 15,400 and discount allowed Ra. s00. "6 Paid carringe Rs. 800 "S Bought goods for cash Rs. 6,000. "9 Sold goods to Rashid Rs. 34,000. " 10 Bought goods from Faisal & Co. Rs. 26,000. "II Paid Mahmood & Co. Rs. 19,000 in full settlement of their account. "12 Paid wages Rs. 400. "13 Paid earriage Rs. 800 " 14 Purchased goods from Mahmood & Co. Rs. 30,000. "15 Purchased goods for cash Rs. 8.000. "17 Goods sold to Waheed & Sons for Rs. 36,000. "18 Cash received from Waheed & Sons Rs. 40,000. "19 Bought goods from Ahsan Rs. 15,000. " 19 Sold goods for cash Rs. 16,000. " 20 Paid wages in cash Rs. H00. "21 Paid to Ahsan Rs. 14,400 in full settlement of his account. " 22 Sold goods to Qasim Bros. Rs. 26,000. " 23 Bought goods from Mahmood & Ca. for Rs. 48,000. " 24 Cash purchases Rs. 14,600. " 25 Cash paid to Mahmood & Co. Rs. 40,000. " 26 Cash received from Qasim Bros. Rs. 20,000. " 27 Paid carriage Rs. 800. " 28 Paid electricity bill Rs. 1,000, " 28 Paid rent Rs. 1600. " 29 Owner withdrew cash for personal use Rs. 3,000. " 29 Paidealaries Ra. 2,800.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question

Transcribed Image Text:3. SE Enter the following transactions in the Journal of a trader. Post in the Ledger and
prepare a trial Balance :
1992
Feb. 1 Started business with cash Rs. 100,000.
"2 Bought goods from Mahmood & Co. worth Rs. S0,000.
"2 Rought furniture for cash Rs. 8,000.
"2 Sold goods to Qasim Bros. for Rs. 16,000.
"3 Purchased stationery for cash Rs. 4,000.
"4 Paid Mahmood & Co. Rs. 30,000 in cash,
"5 Sold goods to Waheed & Sons Rs. 20,000.
"S Recelved cash from Qasim Bros. Rs. 15,400 and discount allowed Ra. s00.
"6 Paid carringe Rs. 800
"S Bought goods for cash Rs. 6,000.
"9 Sold goods to Rashid Rs. 34,000.
" 10 Bought goods from Faisal & Co. Rs. 26,000.
"II Paid Mahmood & Co. Rs. 19,000 in full settlement of their account.
"12 Paid wages Rs. 400.
"13 Paid earriage Rs. 800
" 14 Purchased goods from Mahmood & Co. Rs. 30,000.
"15 Purchased goods for cash Rs. 8.000.
"17 Goods sold to Waheed & Sons for Rs. 36,000.
"18 Cash received from Waheed & Sons Rs. 40,000.
"19 Bought goods from Ahsan Rs. 15,000.
" 19 Sold goods for cash Rs. 16,000.
" 20 Paid wages in cash Rs. H00.
"21 Paid to Ahsan Rs. 14,400 in full settlement of his account.
" 22 Sold goods to Qasim Bros. Rs. 26,000.
" 23 Bought goods from Mahmood & Ca. for Rs. 48,000.
" 24 Cash purchases Rs. 14,600.
" 25 Cash paid to Mahmood & Co. Rs. 40,000.
" 26 Cash received from Qasim Bros. Rs. 20,000.
" 27 Paid carriage Rs. 800.
" 28 Paid electricity bill Rs. 1,000,
" 28 Paid rent Rs. 1600.
" 29 Owner withdrew cash for personal use Rs. 3,000.
" 29 Paidealaries Ra. 2,800.
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