General Ledger
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Following is the General Journal for Hammad and Co. You are required to prepare the General Ledger out of that

Transcribed Image Text:General Journal
Amount (Rs.)
Date
Account Title and Explanations
Ref
Debit
Credit
2016
Aug.
3
Cash
80,000
Fumiture
20,000
Owner's Equity_ Sardar Hammad
100,000
(Reinvest by owner in the business)
5
Cash
10,000
Account Receivable
12,000
Sales
22,000
(Cash and credit Sales)
Purchases
60,000
Cash
15,000
Note Payable_ Ahmed 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)
Sales Return
12,000
21
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
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