Following is the General Journal for Hammad and Co. You are required to prepare the General Ledger out of that
Following is the General Journal for Hammad and Co. You are required to prepare the General Ledger out of that
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
100%
Following is the General Journal for Hammad and Co. You are required to prepare the General Ledger out of that
![General Journal
Amount (Rs.)
Date
Account Title and Explanations
Ref
Debit
Credit
2016
Aug.
Cash
80.000
Fumiture
20,000
Owner's Equity_ Sardar Hammad
100,000
(Reinvest by owner in the business)
Cash
10,000
Account Receivable
12.000
Sales
22.000
(Cash and credit Sales)
Purchases
60.000
Cash
15,000
Note Payable_ Alumed Co.
45,000
(Purchases by cash and credit from Ahmed)
Office Equipment
99.000
Cash
19,000
Account Payable_ Waseem Shah
80,000
(Purchase O. equipment on installments by Waseem)
21
Sales Return
12.000
Account Receivable
12,000
(Goods return by credit customer)
30
Account Payable_ Waseem Shah
20,000
Cash
20,000
(Paid 1" installment to Waseem Shah)
Total
Rs. 313,000
Rs. 313,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6c9fcdcf-68b3-4d8d-9a75-613b8ebdc1b1%2F344f0f2a-ebb1-4e24-9df4-a8ca965e45f7%2Fjnxuv_processed.png&w=3840&q=75)
Transcribed Image Text:General Journal
Amount (Rs.)
Date
Account Title and Explanations
Ref
Debit
Credit
2016
Aug.
Cash
80.000
Fumiture
20,000
Owner's Equity_ Sardar Hammad
100,000
(Reinvest by owner in the business)
Cash
10,000
Account Receivable
12.000
Sales
22.000
(Cash and credit Sales)
Purchases
60.000
Cash
15,000
Note Payable_ Alumed Co.
45,000
(Purchases by cash and credit from Ahmed)
Office Equipment
99.000
Cash
19,000
Account Payable_ Waseem Shah
80,000
(Purchase O. equipment on installments by Waseem)
21
Sales Return
12.000
Account Receivable
12,000
(Goods return by credit customer)
30
Account Payable_ Waseem Shah
20,000
Cash
20,000
(Paid 1" installment to Waseem Shah)
Total
Rs. 313,000
Rs. 313,000
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps with 4 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
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
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education