Question # 04Mr. X started his business on July 1, 2021. During the first month of operations ,the followingtransactions occurred:Started business with cash Tk. 500,000.Rent paid in advance for a year Tk. 6,000.Purchased merchandising inventory for cash Tk.80,000 and on account Tk. 20,000 from Mr. Tahir.Purchased Marketable securities for cash Tk. 100,000.Cash Sales Tk. 30,000 (cost 20,000).During the period rent expires Tk. 2,000.Commission paid during the trading was Tk. 1,000.Received cash dividend Tk. 4,000 on marketable securities.Paid Tk. 19,500 to Mr. Tahir in full settlement.Withdrew inventory for personal purpose by owner of worth Tk 6,000.Lost Tk. 2,000 in transitDiscount allowed Tk. 1,000RequiredPrepare a tabular summary of the transactions

Name: Question # 04Mr. X started his business on July 1, 2021. During the f
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Description: Question # 04Mr. X started his business on July 1, 2021. During the first month of operations ,the followingtransactions occurred:Started business with cash Tk. 500,000.Rent paid in advance for a year Tk. 6,000.Purchased merchandising inventory for

The tabular form of transaction is given as,

Business

Accounting

a Tk. 500,000. a year Tk. 6,000. inventory for cash Tk.80,000 and on account TI curities for cash Tk. 100,000. ost 20,000). pires Tk. 2,000. the trading was Tk. 1,000. k. 4,000 on marketable securities. hir in full settlement.

a Tk. 500,000. a year Tk. 6,000. inventory for cash Tk.80,000 and on account TI curities for cash Tk. 100,000. ost 20,000). pires Tk. 2,000. the trading was Tk. 1,000. k. 4,000 on marketable securities. hir in full settlement.

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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