Enter the following transaction in the main ledger accounts of Atif & Co and extract a trial balance as at 30 June 2020. June 2020 01 Started business with Rs 800,000 in the bank 02 Bought goods on credit from KH Supplies Rs. 76,000, Hatts Rs 27,000 and Toby Traders Rs 56,000. 05 Cash sales Rs 87,000. 06 Paid wages Rs 14,000 by cheque. 07 Sold goods on credit to: Elliots Rs 35,000, Lane Rs 42,000 and Carton Leisure Rs 72,000. 09 Bought goods for cash Rs 46,000. 10 Bought goods on credit from KH Supplies Rs. 57,000 and Toby Traders Rs 98,000. 12 Paid wages Rs 14,000 by cheque. 13 Sold goods on credit to Lane Rs 32,000 and Carton Leisure Rs 23,000. 15 Bought Shop fixtures on credit from Beta Fittings Rs 50,000. 17 Paid KH Supplies Rs 84,000. 18 Goods returned to Toby Traders Rs 20,000. 21 Paid Beta Fitting Rs 50,000. 24 Payment received from Carton Leisure Rs 95,000. 27 Goods returned to KH Supplies Rs 24,000. 30 King Bank provide a loan of Rs 60,000. 31 Bought a motor van, paying by cheque Rs 400,000.
Enter the following transaction in the main ledger accounts of Atif & Co and extract a trial balance as at 30 June 2020. June 2020 01 Started business with Rs 800,000 in the bank 02 Bought goods on credit from KH Supplies Rs. 76,000, Hatts Rs 27,000 and Toby Traders Rs 56,000. 05 Cash sales Rs 87,000. 06 Paid wages Rs 14,000 by cheque. 07 Sold goods on credit to: Elliots Rs 35,000, Lane Rs 42,000 and Carton Leisure Rs 72,000. 09 Bought goods for cash Rs 46,000. 10 Bought goods on credit from KH Supplies Rs. 57,000 and Toby Traders Rs 98,000. 12 Paid wages Rs 14,000 by cheque. 13 Sold goods on credit to Lane Rs 32,000 and Carton Leisure Rs 23,000. 15 Bought Shop fixtures on credit from Beta Fittings Rs 50,000. 17 Paid KH Supplies Rs 84,000. 18 Goods returned to Toby Traders Rs 20,000. 21 Paid Beta Fitting Rs 50,000. 24 Payment received from Carton Leisure Rs 95,000. 27 Goods returned to KH Supplies Rs 24,000. 30 King Bank provide a loan of Rs 60,000. 31 Bought a motor van, paying by cheque Rs 400,000.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Enter the following transaction in the main ledger accounts of Atif & Co and extract a trial balance as at 30
June 2020.
June 2020
01 Started business with Rs 800,000 in the bank
02 Bought goods on credit from KH Supplies Rs. 76,000, Hatts Rs 27,000 and Toby Traders Rs 56,000.
05 Cash sales Rs 87,000.
06 Paid wages Rs 14,000 by cheque.
07 Sold goods on credit to: Elliots Rs 35,000, Lane Rs 42,000 and Carton Leisure Rs 72,000.
09 Bought goods for cash Rs 46,000.
10 Bought goods on credit from KH Supplies Rs. 57,000 and Toby Traders Rs 98,000.
12 Paid wages Rs 14,000 by cheque.
13 Sold goods on credit to Lane Rs 32,000 and Carton Leisure Rs 23,000.
15 Bought Shop fixtures on credit from Beta Fittings Rs 50,000.
17 Paid KH Supplies Rs 84,000.
18 Goods returned to Toby Traders Rs 20,000.
21 Paid Beta Fitting Rs 50,000.
24 Payment received from Carton Leisure Rs 95,000.
27 Goods returned to KH Supplies Rs 24,000.
30 King Bank provide a loan of Rs 60,000.
31 Bought a motor van, paying by cheque Rs 400,000.
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