The following transactions are for the Sun's Corporation, December, 2018. 1. 12 Jan. Sun's Corporation issued shares 100000 and value of one share is Rs. 56. 2. 14 Feb. Sun's Corporation purchased furniture 30000 for cash. 3. 17 Mar. Sold goods on credit for Rs. 90000. 4. 21 Apr. Account receivable collected for Rs 10000, made on 17 March. 5. 21 Apr Sun's Corporation purchased computer 30000 on account payable. 6. 23 Jun. Paid advertising expense for Rs. 9000. 7. 12 Sep. Paid salary for Rs. 17000 8. 30 Dec. Declared and paid dividend to shareholders 40000.
The following transactions are for the Sun's Corporation, December, 2018. 1. 12 Jan. Sun's Corporation issued shares 100000 and value of one share is Rs. 56. 2. 14 Feb. Sun's Corporation purchased furniture 30000 for cash. 3. 17 Mar. Sold goods on credit for Rs. 90000. 4. 21 Apr. Account receivable collected for Rs 10000, made on 17 March. 5. 21 Apr Sun's Corporation purchased computer 30000 on account payable. 6. 23 Jun. Paid advertising expense for Rs. 9000. 7. 12 Sep. Paid salary for Rs. 17000 8. 30 Dec. Declared and paid dividend to shareholders 40000.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Prepare
Transcribed Image Text:Q.1 The following transactions are for the Sun's Corporation, December, 2018.
1. 12 Jan. Sun's Corporation issued shares 100000 and value of one share is Rs. 56.
2. 14 Feb. Sun's Corporation purchased furniture 30000 for cash.
3. 17 Mar. Sold goods on credit for Rs. 90000.
4. 21 Apr. Account receivable collected for Rs 10000, made on 17 March.
5. 21 Apr Sun's Corporation purchased computer 30000 on account payable.
6. 23 Jun. Paid advertising expense for Rs. 9000.
7. 12 Sep. Paid salary for Rs. 17000
8. 30 Dec. Declared and paid dividend to shareholders 40000.
Expert Solution
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 3 images
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
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education