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Req: Journalise the above transactions and post them into the ledger. 2.5L. Journalise the following transactions, post in the ledger and prepare a trial balance: 1989 Jan. 1 Mr. Nadeem commenced business with Rs. 40,000 cash, furniture worth Rs. 5.000, motor-car valued at Rs. 12,000 and stock worth Rs. 20,000. "3 Deposited into Bank Rs. 38,000. "5 Purchased goods on account from Imran worth Rs. 9,000. "6 Sold goods to Babar on credit for Rs. 6,000. "8 Bought office supplies from Rafiq & Co. for cash Rs. 200. " 10 Goods sold for cash Rs. 2,000., "N Paid Rs. 600 as travelling expenses to salesman. "12 Withdrew from the bank for personal use Rs. 1,000. " 16 Withdrew from bank for office use Rs. 3,000. " 19 Issued a cheque to Imran of Rs. 8,800 in full settlement of his account. " 22 Paid carriage in cash Rs. 400. " 25 Received a cheque from Babar for Rs. 6,000. " 31 Paid rent of the building by cheque Rs. 300. " 31 Commission received Rs. 200. " 31 Bank charges made by bank Rs. 25.

Req: Journalise the above transactions and post them into the ledger. 2.5L. Journalise the following transactions, post in the ledger and prepare a trial balance: 1989 Jan. 1 Mr. Nadeem commenced business with Rs. 40,000 cash, furniture worth Rs. 5.000, motor-car valued at Rs. 12,000 and stock worth Rs. 20,000. "3 Deposited into Bank Rs. 38,000. "5 Purchased goods on account from Imran worth Rs. 9,000. "6 Sold goods to Babar on credit for Rs. 6,000. "8 Bought office supplies from Rafiq & Co. for cash Rs. 200. " 10 Goods sold for cash Rs. 2,000., "N Paid Rs. 600 as travelling expenses to salesman. "12 Withdrew from the bank for personal use Rs. 1,000. " 16 Withdrew from bank for office use Rs. 3,000. " 19 Issued a cheque to Imran of Rs. 8,800 in full settlement of his account. " 22 Paid carriage in cash Rs. 400. " 25 Received a cheque from Babar for Rs. 6,000. " 31 Paid rent of the building by cheque Rs. 300. " 31 Commission received Rs. 200. " 31 Bank charges made by bank Rs. 25.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Journalise the following transactions post in the ledger and prepare a trail balance. 

Req: Journalise the above transactions and post them into the ledger. 2.5L. Journalise the following transactions, post in the ledger and prepare a trial balance: 1989 Jan. 1 Mr. Nadeem commenced business with Rs. 40,000 cash, furniture worth Rs. 5.000, motor-car valued at Rs. 12,000 and stock worth Rs. 20,000. " 3 Deposited into Bank Rs. 38,000. "5 Purchased goods on account from Imran worth Rs. 9,000. "6 Sold goods to Babar on credit for Rs. 6,000. "8 Bought office supplies from Rafiq & Co. for cash Rs. 200. " 10 Goods sold for cash Rs. 2,000. , "N Paid Rs. 600 as travelling expenses to salesman. " 12 Withdrew from the bank for personal use Rs. 1,000. " 16 Withdrew from bank for office use Rs. 3,000. " 19° Issued a cheque to Imran of Rs. 8,800 in full settlement of his account. " 22 Paid carriage in cash Rs. 400. " 25 Received a cheque from Babar for Rs. 6,000. " 31 Paid rent of the building by cheque Rs. 300. " 31 Commission received Rs. 200. " 31 Bank charges made by bank Rs. 25.
Transcribed Image Text:Req: Journalise the above transactions and post them into the ledger. 2.5L. Journalise the following transactions, post in the ledger and prepare a trial balance: 1989 Jan. 1 Mr. Nadeem commenced business with Rs. 40,000 cash, furniture worth Rs. 5.000, motor-car valued at Rs. 12,000 and stock worth Rs. 20,000. " 3 Deposited into Bank Rs. 38,000. "5 Purchased goods on account from Imran worth Rs. 9,000. "6 Sold goods to Babar on credit for Rs. 6,000. "8 Bought office supplies from Rafiq & Co. for cash Rs. 200. " 10 Goods sold for cash Rs. 2,000. , "N Paid Rs. 600 as travelling expenses to salesman. " 12 Withdrew from the bank for personal use Rs. 1,000. " 16 Withdrew from bank for office use Rs. 3,000. " 19° Issued a cheque to Imran of Rs. 8,800 in full settlement of his account. " 22 Paid carriage in cash Rs. 400. " 25 Received a cheque from Babar for Rs. 6,000. " 31 Paid rent of the building by cheque Rs. 300. " 31 Commission received Rs. 200. " 31 Bank charges made by bank Rs. 25.
Req: Journalise the above transactions and post them into the ledger. 2.5L. Journalise the following transactions, post in the ledger and prepare a trial balance: 1989 Jan. 1 Mr. Nadeem commenced business with Rs. 40,000 cash, furniture worth Rs. 5.000, motor-car valued at Rs. 12,000 and stock worth Rs. 20,000. " 3 Deposited into Bank Rs. 38,000. "5 Purchased goods on account from Imran worth Rs. 9,000. "6 Sold goods to Babar on credit for Rs. 6,000. "8 Bought office supplies from Rafiq & Co. for cash Rs. 200. " 10 Goods sold for cash Rs. 2,000. , "N Paid Rs. 600 as travelling expenses to salesman. " 12 Withdrew from the bank for personal use Rs. 1,000. " 16 Withdrew from bank for office use Rs. 3,000. " 19° Issued a cheque to Imran of Rs. 8,800 in full settlement of his account. " 22 Paid carriage in cash Rs. 400. " 25 Received a cheque from Babar for Rs. 6,000. " 31 Paid rent of the building by cheque Rs. 300. " 31 Commission received Rs. 200. " 31 Bank charges made by bank Rs. 25.
Transcribed Image Text:Req: Journalise the above transactions and post them into the ledger. 2.5L. Journalise the following transactions, post in the ledger and prepare a trial balance: 1989 Jan. 1 Mr. Nadeem commenced business with Rs. 40,000 cash, furniture worth Rs. 5.000, motor-car valued at Rs. 12,000 and stock worth Rs. 20,000. " 3 Deposited into Bank Rs. 38,000. "5 Purchased goods on account from Imran worth Rs. 9,000. "6 Sold goods to Babar on credit for Rs. 6,000. "8 Bought office supplies from Rafiq & Co. for cash Rs. 200. " 10 Goods sold for cash Rs. 2,000. , "N Paid Rs. 600 as travelling expenses to salesman. " 12 Withdrew from the bank for personal use Rs. 1,000. " 16 Withdrew from bank for office use Rs. 3,000. " 19° Issued a cheque to Imran of Rs. 8,800 in full settlement of his account. " 22 Paid carriage in cash Rs. 400. " 25 Received a cheque from Babar for Rs. 6,000. " 31 Paid rent of the building by cheque Rs. 300. " 31 Commission received Rs. 200. " 31 Bank charges made by bank Rs. 25.
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