Following are the transactions of HASF who operated his business in the name of HASF and company while his capital investment is 50,000 on May 1 2021 May 1 Purchased merchandise for cash 35,000 May 2 sales merchandise for cash 48,000 May 3 Purchase merchandise on account 6,000 May 3 sales merchandise on account 7,200 May 5 Return credit merchandise from customer 1,200 May 7 Return damaged merchandise ( credit ) to company 1,000 May 8 cash received from customers 5,500 May 9 paid salary expense 5,000 NOTE: No need to enter Currency Symbol, no comma between numbers, answer will be in whole number no decimal place required and no need to enter any sign like + and - (for example: $10,000.60=10000.6) 1. Find out the following ledger balance and total trial balance at end of May 30 Calculate Cash Calculate Capital Calculate Purchases
Following are the transactions of HASF who operated his business in the name of HASF and company while his capital investment is 50,000 on May 1 2021
May 1 Purchased merchandise for cash 35,000
May 2 sales merchandise for cash 48,000
May 3 Purchase merchandise on account 6,000
May 3 sales merchandise on account 7,200
May 5 Return credit merchandise from customer 1,200
May 7 Return damaged merchandise ( credit ) to company 1,000
May 8 cash received from customers 5,500
May 9 paid salary expense 5,000
NOTE: No need to enter Currency Symbol, no comma between numbers, answer will be in whole number no decimal place required and no need to enter any sign like + and - (for example: $10,000.60=10000.6)
1. Find out the following ledger balance and total
Calculate Cash
Calculate Capital
Calculate Purchases
Calculate A/c payable
Calculate Purchas return
Calculate Sales
Calculate A/c receivable
Calculate Sales return
Calculate Salary expense
Calculate Trial balance total
2. find out the following values
Calculate Net sales
Calculate Total cost of purchase
Calculate Cost of goods sold if beginning inventory is 5,000 and ending inventory will be 20,000
Calculate Gross profit
Calculate Total operating expense
Calculate Net income
Calculate Total current assets
Calculate Total fixed assets
Calculate Total assets
Calculate Total liabilities
Calculate Total owner equity
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