Omer provides the following data of his company Cargowings Pvt. ltd. for the month of December 2020. Following transaction took place during the month: ` Omer further invested in business with cash $5,000, bank $10,000, and Motor Vehicle $8,000 Received a cheque from Mathew in respect of goods sold at invoice price $500 deducting discount of 5%. Omer brought his house furniture into the business which he purchased for $3,000 Commission received as referral fee $1,300 Sold goods to Danial worth $500 and the balance was written in his account.
Omer provides the following data of his company Cargowings Pvt. ltd. for the month of December 2020. Following transaction took place during the month: ` Omer further invested in business with cash $5,000, bank $10,000, and Motor Vehicle $8,000 Received a cheque from Mathew in respect of goods sold at invoice price $500 deducting discount of 5%. Omer brought his house furniture into the business which he purchased for $3,000 Commission received as referral fee $1,300 Sold goods to Danial worth $500 and the balance was written in his account.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Omer provides the following data of his company Cargowings Pvt. ltd. for the month of December 2020.
Following transaction took place during the month: `
- Omer further invested in business with cash $5,000, bank $10,000, and Motor Vehicle $8,000
- Received a cheque from Mathew in respect of goods sold at invoice price $500 deducting discount of 5%.
- Omer brought his house furniture into the business which he purchased for $3,000
- Commission received as referral fee $1,300
- Sold goods to Danial worth $500 and the balance was written in his account.
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