DATE

1-May
2-May
Balance
3-May
Balance
4-May
Balance
5-May
Balance
6-May
Balance
7-May
Balacnce

DATE

1-May
2-May
Balance
3-May
Balance
4-May
Balance
5-May
Balance
6-May
Balance
7-May
Balacnce
8-May
Balacnce

Balacnce
 DATE

1-May
2-May
Balance
4-May
Balance
6-May
Balance
8-May
Balance
10-May
Balance
12-May
Balacnce
13-May
Balacnce
14-May
Balacnce
 DESCRIPTION

Zohair start a business

Purcahse building for Rs 6,00,000

Cash deposite into bank of Rs 3,00,000

Purchase Furniture by of Rs 75000 by cheque

Purchase merchandise of Rs 120,000 paying 40% cash and remaining cheque

Purchase merchandise of Rs 2,00,000 paying 60% cash

Issued a cheque of Rs 10,000

DESCRIPTION

Me.Ali started his business with cash 1200,000

Deposited cash into bank Rs 500,000

Purchase building on cash Rs 400,000

Purchase Furniture of Rs 120,000 paid by cheque

Purchase merchandise of Rs 70,000

Sold merchandise on cash costing Rs 40,000 at Rs 60,000

Paid wages by cheque Rs 5000

Purchase merchandise on credit from FA traders of Rs 65000

Paid cash to FA traders of Rs 25000

 DESCRIPTION

Mr Salman started a Business with cash 2500,000

Deposited cash into bank Rs 1500,000

Purchase building of Rs 800,000 paid 300,000 by cash and remaining by cheque

Purchase Furniture of Rs 120,000 by cash

Purchase furniture of RS 200,000 on cash

Purchases merchandise on cash Rs. 80,000.

Paid wages Rs 3,000 by cheque.

Purchased merchandise on credit from ossama Traders Rs, 45,000

Issued a cheque of Rs. 15,000 to Ossama Traders.

ASSETS LIABILIIES

Mds. furniture Bank Building Cash A/C Payable

20,00,000
6,00,000 (6,00,000)
6,00,000 14,00,000
3,00,000 (3,00,000)
3,00,000 6,00,000 11,00,000
75,000 -75,000
75,000 225000 6,00,000 11,00,000
120,000 -72,000 -48,000
120,000 75,000 153000 6,00,000 1052000
2,00,000 -120,000 80,000
320,000 75,000 153,000 6,00,000 932,000
-10,000 -10,000
320,000 75,000 143,000 6,00,000 932,000 70,000
2070000 207

ASSETS LIABILIIES

Mds. furniture Building Bank Cash A/C Payable

1,200,000
500,000 -500,000
500,000 700,000
400,000 -400,000
400,000 500,000 300,000
120,000 -120,000
120,000 400,000 380,000 300,000
70,000 -70,000
70,000 120,000 400,000 380,000 230,000
-40,000 60,000
30,000 120,000 400,000 380,000 290,000
-5000
30,000 120,000 400,000 375,000 290,000
65,000 65,000
95,000 120,000 400,000 375,000 290,000 65,000
-25,000 -25000
95,000 120,000 400,000 375,000 265,000 40,000
ASSETS LIABILIIES

Mds. furniture Building Bank Cash A/C Payable

2,500,000
1,500,000 -1,500,000
1,500,000 10,00,000
800,000 -500,000 -300,000
800,000 10,00,000 700,000
120,000 -120,000
120,000 800,000 10,00,000 580,000
200,000 -200,000
320,000 800,000 10,00,000 380,000
80,000 -80,000
80,000 320,000 800,000 10,00,000 300,000
-3000
80,000 320,000 800,000 997,000 300,000
45,000 45000
125,000 320,000 800,000 997,000 300,000 45,000
-15,000 -15000
125,000 320,000 800,000 982,000 300,000 30,000
2527000 252
 OWNER'S EQUITY

20,00,000

20,00,000

20,00,000

20,00,000

20,00,000

20,00,000
2070000

OWNER'S EQUITY

1,200,000

1,200,000

1,200,000

1,200,000

12,200,000
20,000
1,220,000
-5000
1,215,000

1,215,000

1,215,000
 OWNER'S EQUITY

2,500,000

2,500,000

25,00,000

25,00,000

25,00,000

25,00,000
-3000
2,497,000

2,497,000

2,497,000
2527000
 ASSETS LIABILIIES

DATE DESCRIPTION

1-May Me.Ali started his business with cash 1200,000 + 0

2-May Deposited cash into bank Rs 500,000 0 0
3-May Purchase building on cash Rs 400,000 0 0
4-May Purchase Furniture of Rs 120,000 paid by cheque 0 0
5-May Purchase merchandise of Rs 70,000 0 0
6-May Sold merchandise on cash costing Rs 40,000 at Rs 60,000 + 0
7-May Paid wages by cheque Rs 5000 - 0
8-May Purchase merchandise on credit from FA traders of Rs 65000 + +
9-May Paid cash to FA traders of Rs 25000
OWNER'S EQUITY

+
0
0
0
0
+
-
0
Following are the give trasactions Completed by M/s ABC traders For the month of may2020

1-May Mr Ali started his business with cash 100000

2-May Purchase Building on Cash Rs 400,000
3-May Cash Deposited into Bank Rs 200,000
4-May Purchase furniture of Rs 60,000 Paid by cheque
5-May Purchase office supplies of Rs 3000 on cash Nature of purchases merchandises is Expense
6-May Purchase merchandise of Rs 40,000 on cash
7-May Paid salaries of Rs 10,000 by cheque When the goods are sold out it is an income and its nat
8-May Sold merchandise on cash Rs 30,000
 DATE

1-May

es merchandises is Expenses
2-May
t it is an income and its nature is sales

3-May

4-May

5-May

6-May

7-May

8-May
DESCRIBTION P/R RS Debit RS Credit

Cash 10,000,000
Owners Equity 10,000,000
To record the investment of Mr Ali
Building 400,000
Cash 400,000
To record the purchase of building
Bank 200,000
Cash 200,000
Cash deposited into Bank
Furniture 40,000
Bamk 40,000
To record the purchase of furniture
Office Supplies 3000
Cash 3000
To record the purchase of office supplies
Purchase 40,000
Cash 40,000
To record the purchase of office supplies
Salary Expense 10,000
Bank 10,000

Cash 30,000
Sales 30,000
Cash 40,000
A/c Receivable 70,000
Supplies 3,500
Building 500,000
Bank OD 70,000
A/C Payable 30,000
Furniture 100,000
Bank Loan 150,000
Comission income 50,000
Sales 100,000
Purchase 80,000
Rent expence 12,000

Debit

Cash 40,000
A/c Receivable 70,000
Asset and expence in debit side Supplies 3,500
Building 500,000
Furniture 100,000
Purchase 80,000
Rent expence 12,000
Bank OD
Liability,owner equity,sales, income in credit side A/C Payable
Bank Loan
Capital
Comission income
Sales

805500-400000 805,500
 Assets Liabilities

Cash 40,000 Bank Loan

A/c Receivable 70,000 Bank OD
Supplies 3,500 A/C Payabl
Building 500,000
Furniture 100,000
713,500

Capital= Assets- Liabilities 463500

Credit

70,000
30,000
150,000
405,500
50,000
100,000
150,000
70,000
30,000

250,000
GIVEN
FOLLOWING ARE THE TRANSACTIONS COMPLETED BY M/S AZAD TRADERS FOR THE MONTH OF MAY 2020

1-May Mr Azad started his business with cash Rs 800,000 and transferred his personal bank account having balance of Rs 2
he also bought furniture of Rs 200,000 to his business
2-May purchase building on cash Rs 450,000
3-May purchase furniture of Rs 40,000 paid 30,000 cash and remaining amount cheque
4-May purchase merchamdise on cash Rs 42000 and paid transportation of Rs 2000
5-May paid wages by cheque Rs 3000
6-May Some of the defective goods were returned to suppliers of Rs 2000
7-May Purchae Merchandise on credtit from shamsha traders of Rs 70,000
8-May Received rent Rs 3000
9-May Issued a cheque of Rs 15000 to shamsa traders
10-May some of defective goods were return to shamsa traders of Rs 1400
11-May Sold merchandise on cash of Rs 40,000
12-May Paid utility bills of Rs 5000 by cheque
13-May some of defective goods were return to customers of Rs 1000
14-May Withdraw cash from the bank of Rs 20,000
15-May Sold merchandise on Credit to sajid traders of Rs 60,000
16-May Paid advertisement cost by cheque Rs 10,000
17-May Raceived cash of Rs 12000 from sajid traders
18-May paid cash 2300 for repair of building
19-May received a cheque of Rs 18000 from sajid traders
20-May Issue a cheque of Rs 23000 to shamsa traders
21-May Goods return by sajid trader of Rs 1700
22-May Cheque dated on may 19 deposited into the bank
23-May Withdran cash of Rs 8000 from bank for personal use of owner
24-May Paid cash of Rs 30000 to shamsa trader for full and dinal settlement
25-May Received cash of Rs 14000 along with cheque of Rs 14000 in full and final settlement of his account cheque
26-May The owner withdra merchandise of Rs 5000 out of business for his personal use
ONTH OF MAY 2020

account having balance of Rs 200,000 to his business bank account

AZAD TRADERS
GENERAL JENERAL
FOR MAY 2020

DATE DESCRIBTION P/R RS Debit RS Credit

1-May Cash 800,000

Bank 200,000
Furniture 200,000
Azads Capital 1,200,000

2-May Building 450,000

Cash 450,000
To record the purchase of building

3-May Furniture 40,000

cash 30,000
Bank 10,000

4-May Purchases 42,000

Cash 42,000
of his account cheque To record the purchase of furniture

4-May Transporting in 2000

Cash 2000
To record the transportation expense

5-May Wages 3,000

Bank 3,000
To record the wages expense

6-May Cash 2000

Purchase return 2000

7-May Purchases 70,000

A/c Payable (shamsha traders) 70,000
 8-May Cash 3,000
Rent income 3,000

9-May A/c Payable(shamsa traders) 15,000

Bank 15,000

10-May A/c Payable(shamsa traders) 1400

Purchase return 1400

11-May Cash 40,000

Sales 40,000

12-May Utility Expense 5000

Bank 5000

13-May Sales Return 1000

Cash 1000

14-May Cash 20,000

Bank 20,000

15-May A/R (Sajid Traders) 60,000

Sales 60,000

16-May Advertisemet Expense 10,000

Bank 10,000

17-May Cash 12000

A/c Receivable (Sajid traders) 12000

18-May Building Repair Expence 2300

Cash 2300

19-May Cash 18,000

A/c Receivable (Sajid traders) 18,000

20-May A/c Payable (shamsa traders) 23000

Bank 23000

21-May Sales Return 1,700

A/c Receivables (Sajid traders) 1,700
22-May Bank 18,000
Cash 18,000

23-May Drawing 8000

Bank 8000

24-May A/c Payable 30,600

Cash 30,000
Purchase discount 600

25-May Cash 14000

Bank 14000
Sales discount 300
A/c Receivable (Sajid traders) 28300

26-May Drawing 5000

Purchases 5000
Purchase and purchase return credit karna both are right
but purchase return have to be deducted at the end of year
that’s why we right purchase reutun in the credit
Purchase is also credited when
1-the goods are stolen loss debit purchase credit
2-the goods are burned loss debit purchase credit
3- the goods are obsilate loss debit purchase credit
4- the goods are taken for personal use from the businees
Drawing debit purchases credit
DR Description CASH Description CR
1-May Azad Capital 800,000 2-May building 450,000
6-May Purchase return 2,000 3-May Furniture 30,000
7-May Rent income 3,000 4-May Purchases 42,000
11-May Sales 40,000 4-May Transporation in 2,000
14-May Bank 20,000 13-May Sales return 1,000
17-May A/c receivable (Sajid) 12,000 18-May Repair expense 2,300
19-May A/c receivable (Sajid) 18,000 22-May Bank 18,000
25-May A/c receivable (Sajid) 14,000 24-May A/c Payable (shamsa) 30,000

31-May Balancec/d 333,700

TOTAL 909,000 TOTAL 909,000
1-Jun Balanceb/b 333700

DR Description ALI CAPITAL Description CR

1-May Cash 800,000
1-May Bank 200,000
1-May Furniture 200,000
31-May Balancec/d 1,200,000
TOTAL 1,200,000 TOTAL 1,200,000
1-Jun Balance b/d 1,200,000
 DR TRANSPORTATION IN CR
4-May Cash 2,000
31-May Balancec/d 2,000
TOTAL 2,000 TOTAL 2,000
1-Jun Balanceb/d 2000

DR PURCHASE RETURN CR
6-May Cash 2,000
10-May A/c payalce(Shamsa) 1,400
31-May Balacncec/d 3,400
TOTAL 34,00 TOTAL 34,00
1-Jun Balanceb/d 3400

DR RENT INCOME CR
7-May Cash 3,000
31-May Balancec/d 3000
TOTAL 3,000 TOTAL 3,000
1-Jun balanceb/d 3000
 DR ADV EXP CR
16-May Bank 10,000

31-May balancec/d 10,000

TOTAL 10,000 TOTAL 10,000
1-Jun balanceb/d 10,000

DR Description PURCHASE DISCOUNT Description CR

24-May A/C Payable(Shamsa) 600
31-May Balancec/d 600
TOTAL 600 TOTAL 600
1-Jun balanceb/d 600
 AZAD TRADERS
LEDGER POSTING

DR Description BANK
1-May Azad Capital 200,000 3-May
22-May Cash 18,000 5-May
25-May A/c Receivable(Sajid) 14000 9-May
12-May
14-May
16-May
20-May
23-May

31-May
TOTAL 232,000 TOTAL
1-Jun balanceb/d 138000

DR Description BUILDING
2-May Cash 450,000
31-May
TOTAL 450,000 TOTAL
1-Jun Balanceb/d 450,000
 DR Description WAGES EXPENSE
5-May Bank 3,000
31-May
TOTAL 3,000 TOTAL
1-Jun Balanceb/d 3000

DR Description SALES
11-May
15-May

31-May balancec/d 100,000

TOTAl 100,000 TOTAl
1-Jun

DR Description SALES RETURN

13-May Cash 1,000
21-May A/c Receivable(Sajid) 1700
31-May
TOTAL 2700 TOTAL
1-Jun balanceb/d 2700
 DR Description BUILDING REPAIR EXPENSE
18-May Cash 2,300

31-May
TOTAL 2300 TOTAL
1-Jun Balanceb/d 2300

DR Description Sales Discount

25-May A/c Receivable(Sajid) 300

31-May
TOTAL 300 TOTAL
1-Jun balanceb/d 300
 Description CR DR Description
Furniture 10,000 1-May Azad Capital
Wages 3,000 3-May Cash
A/C payable (Shamsa) 15,000 3-May Bank
utility Expense 5,000
Cash 20,000
Adv Expense 10,000
A/C payable (Shamsa) 23,000 TOTAL
Drawing 8,000 1-Jun Balanceb/d

balancec/d 138,000
232,000

Description CR DR Description
4-May Cash
balancec/d 450,000 7-May A/c Payable (shamsha traders)
450,000
TOTAL
1-Jun Balanceb/d
 Description CR DR Description
9-May Bank
Balancec/d 3,000 10-May Purchase Return
3,000 20-May Bank
24-May Cash
24-May Purchase discount

TOTAL

Description CR DR Description
cash 40,000 12-May Bank
A/C Receivable(Sajid) 60,000

TOTAL
100,000 1-Jun balanceb/d
balanceb/d 100,000

Description CR DR Description
15-May Sales
10-May
balancec/d 2,700 20-May
2700 24-May
 TOTAL

Description CR DR Description
23-May Bank
26-May Purchases
Balancec/d 23,000
2300
TOTAL
1-Jun Balanceb/d

Description CR

banacec/d 300
300
 FURNITURE Description CR
200,000
30,000
10,000

31-May Balancec/d 240000

240,000 TOTAL 240,000
240,000

PURCHASES Description CR
42,000 26-May Drawing 5,000
70,000
31-May Balancec/d 107,000
112,000 TOTAL 112,000
107,000
A/c PAYABLE(SHAMSA) Description CR
15,000 6-May Purchases 70,000
1400
23,000
30000
600

70,000 TOTAL 70,000

UTILITY EXPENSE Description CR

5,000

31-May balancec/d 5,000

5000 TOTAL 5000
5000

A/c RECEIVABLE(SAJID) Description CR

60,000 17-May Cash 12,000
19-May Cash 18,000
21-May Sales Return 1,700
25-May Cash 14000
25-May Bank 14000
 25-May Sales discount 300

60,000 TOTAL 60,000

DAWINGS Description CR
8,000
5000 31-May balance c/d 13,000

31-May balancec/d 13000

13000 TOTAL 13000
13000
 AZAD TRADE

Pre Closing Trail

As on May 31

S.no

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
 AZAD TRADERS

Pre Closing Trail Balance

As on May 31 2020

Title of Accounts A/C Debit Credi

Cash 333,700
Bank 138,000
Furniture 240,000
capital 1,200,000
Building 450,000
Purchases 107,000
Transportation In 2,000
Wages Expense 3,000
Purchase Return 3,400
Rent income 3,000
Sales 100,000
Utility Expense 5,000
Sales return 2,700
Adv Espense 10,000
Building Repair Expense 2,300
Drawings 13,000
Purchase discount 600
Sales discount 300

1,307,000 1,307,000
Selling price of various items sold out is known as Sales
Cost price of the various item sold out is called COGS

Net Sales - COGS = Gross profit COGS = PURCHASES (IF all the goods are sold out then it will b

Sales 500,000
Sales retur 2000
Sales disco 1000
-3000
Net Sales 497000

COGS Jo saman bach jata hai us ko end of the year closin

Opening stock 20000
ADD Purchases 300,000
LESS Purchase return 9000
LESS Purchase Discount 6000
-15000
NET INCOME 285,000
ADD TRANSPORTATION IN 2000
DELIVERED COST OF PURCHASE 287,000
Cost of Goods Avaliable for sales 307,000
LESS CLOSING STOCK -17000
COST OF GOOD SOLD 290,000

GROSS PROFIT=NET SALES-COGS

497000-290,000
oods are sold out then it will be quals) COGS = Cost of good sold avaliable for sale -Closing stock

COGAFS= Opening Stock+Delivered cost of purchase

Delivered cost of purchase= Net purchase +Transportation In

Net purchase = Puchase - (Purchase retun +purchase Discount)

ai us ko end of the year closing inventry kahte hain

SALES 500000
LESS Sales Return
Less Sales Discount

Net Sale

LESS COGS

Opening stock
Add Purchases
sale -Closing stock

+Transportation In

+purchase Discount)
 AZAD TR
INCOME S
FOR YEA
 AZAD TRADERS
INCOME STATEMET
FOR YEAR 2020

SALES
LESS SALES RETURN
LESSS SALES DISCOUNT

NET SALES

LESS COST OF GOOD SOLD

OPENING STOCK
ADD PURCHASES
LESS PURCHASE RETURN 3400
LESS PURCHASE DISCOUNT 600

NET PURCHASES
ADD TRANSPORTATION IN
DELIVERED COST OF PURCHASE

COST OF GOODS AVALIABLE FOR SALE

LESS CLOSING STOCK
COGS

GROSS PROFIT

LESS OPERATING AND GENERAL EXPENSE

Utility expense
Advertising Expense
Wages Expense
Building Repair Expense

ADD OTHER INCOME

Rent Income
EBIT/NET LOSS
EBIT
LESS INTEREST
EBT
LESS TAXES
NET INCOME
RS
MET
20

100,000
27,00
300
-3000
97000

0
107000

-4000
103,000
2000
105,000

105,000
-12000
93000

4000

5000
10000
3000
2300
20300
-16300

3000
-13300
xx
xx
xx
XX
xx
xx
 BAKHTAWAR TRADERS
PRE CLOSING TRIAL BALANCE
FOR YEAR 2019

S.no Title of Accounts A/C Debit Credi

1 Cash 20,000
2 A/C Receivable 60,000
3 Merchandise Inventory (1-1-2019) 12,000
4 Prepaid rent 4,000
5 Office Supplies 5,000
6 Building 580,000
7 Furniture 120,000
8 Allownace for bad debts 6,000
9 Allowance for depriciation (building) 180,000
10 Purchases 360,000
11 Transportation In 3,000
12 Sales Return 2,800
13 Discount Allowed 1,200
14 Salary Expenses 46,000
15 Rent Expenses 8,000
16 Utility Expenses 7,000
17 Drawings 9,000
18 Sales 429,000
19 Purchase return 3,300
20 Purchase discount 1,000
21 Comission Income 3400
22 Capital 619300
23 Depriciation Expense 13000
24 Bad Debt Expense 1000
25 A/c Payable 10,000
1,252,000 1,252,000
 BAKHTAWAR TRADERS
INCOME STATEMENT
FOR YEAR 2019

SALES
LESS SALES RETURN
LESSS SALES DISCOUNT

NET SALES

LESS COST OF GOOD SOLD

OPENING STOCK
ADD PURCHASES 360,000
LESS PURCHASE RETURN 3,300
LESS PURCHASE DISCOUNT 1,000
(4,300)
NET PURCHASES 355,700
ADD TRANSPORTATION IN 3000
DELIVERED COST OF PURCHASE

COST OF GOODS AVALIABLE FOR SALE

LESS CLOSING STOCK
COGS

GROSS PROFIT

LESS OPERATING AND GENERAL EXPENSE

Salary Expense
Rent expense
Utility Expense
Depriciaton Expense
Bad Debt Expense

Opertaing Income
ADD OTHER INCOME
Comission income
EBIT

NET IMCOME
 RS
NT

429,000
2,800
1200
(4,000)
425000

12000

358,700

370,700
-23000
-347700

77300

46,000
8,000
7,000
13000
1000
(75,000)
2300

3400
5700

5700
 BAKHT
BA
AS ON 3

ASSETS RS.

CURRENT ASSET
Cash
A/C Receivalbe 60,000.00
LESS Allownace for bad debt (6,000.00)

Prepaid Rent
Office Supplies
Inventory
TOTAL CURRENT ASSETS

FIXED ASSET
Building 580,000.00
LESS Allownace per Depriciation (180,000.00)
Furniture
TOTAL FIXE ASSETS

TOTAL ASSETS
 BAKHTAWAR TRADERS
BALANCE SHEET
AS ON 31 DECEMBER 2019

RS. RS. LIABILITIES & EQUITIES RS. RS. RS.

LIABILITIES
20,000.00 A/c Payable 10,000.00

TOTAL CURRENT ASSETS 10,000.00

54,000.00
4,000.00 OWNERS EQUITY
5,000.00 Capital 619,300.00
23,000.00 LESS Drawing (9,000.00)
106,000.00 ADD Net Income 5,700.00

TOTAL OWNERS EQUITY 616,000.00

400,000.00
120,000.00
520,000.00

626,000.00 TOTAL LIABILITY & EQUITY 626,000.00

DATE DESCRIBTION P/R DEBIT CREDIT

1-Aug Cash 800,000

Bank 350,000
Owner's Capital 1,150,000

2-Aug Furniture 86,000

Cash 86,000

3-Aug Office Equipment 125,000

Cash 70,000
Bank 55000

4-Aug Purchases 85,000

Transportation In 700
Cash 85700

5-Aug Cash 50,000

Sales 50,000

6-Aug Cash 18,00

Purchase Return 18,00

7-Aug sales Return 2,000

Cash 2,000

8-Aug Salary Expense 5,000

Bank 5,000

9-Aug Purchases 70,000

A/C Payable (Jamal Traers) 70,000

10-Aug Cash 5,000

Furniture 5,000

11-Aug A/C Payable (Jamal Traers) 4,000

Purchase Return 4,000

12-Aug A/C Receivable (Pasha) 90,000

Sales 90,000
Transportation out 1000
13-Aug A/C Payable (Jamal Traers) 30,000
Bank 30,000

14-Aug Rent Expense 9,000

Bank 9,000

15-Aug Cash 20,000

A/C Receivable (Pasha) 20,000

16-Aug Cash 30,000

A/C Receivable (Pasha) 30,000

17-Aug Drawing 130,000

Bank 130,000

18-Aug Salary Expense 20,000

Cash 20,000

19-Aug Bank 30,000

Cash 30,000

20-Aug Drawing 70,000

Cash 50,000
Purchases 70,000

21-Aug A/C Payable (Jamal Traers) 36,000

Cash 15,000
Bank 20,000
Purchase Discount 1,000

22-Aug Cash 7,000

Comission Income 7,000

23-Aug Office Supplies 6,000

Cash 6,000

24-Aug Bank 38,500

Sales Discount 1500
A/C Receivable (Pasha) 40,000

25-Aug Cash 34,600

Sales 34,600

26-Aug Closing Stock 13,000

Office Supplies 800
Trading 13,800
August 1. The owner Commenced with cash Rs. 800,000 and transferred his personal bank account having
Balance of Rs. 350,000 to his business bank account.
August2. Purchased Furniture on Cash Rs. 86,000.
August 3. Purchased Office equipment of Rs. 125,000 and paid cash Rs.70,000 along with a cheque for
balance amount.
August 4. Purchased merchandise on cash Rs. 85,000 on cash and paid Rs 700 to delivery van driver
August 5. Sold merchandise on cash Rs. 50,000.
August 6. Goods returned to supplier Costing Rs. 1,800.
August 7. Goods returned by customer costing Rs. 2,000.
August 8. Paid Wages by chequeRs. 5,000.
August 9. Purchased merchandise on credit from Jamal Traders Rs. 70,000.
August 10. Sold Furniture on cash Rs. 5,000.
August 11. Goods returned to Jamal Traders Rs. 4,000.
August 12. Sold merchandise on credit to Pasha Traders Rs. 90,000 and paid cash Rs. 1,000 to delivery van
driver.
August 13. Issued a cheque of Rs.30,000 to Jamal Traders.
August 14. Paid Rent Rs. 9,000 by cheque.
August 15. Received cash Rs 20,000 from Pasha Traders.
August 16. Received a cheque of Rs. 30,000 from Pasha Traders
August 17. The owner withdrew cash from Bank for personal use Rs130,000
August 18. Paid Salaries Rs. 20,000.
August 19. Chequ dated August 16 deposited into Bank.
August 20. The owner withdrew cash Ts 50,000 and merchandise costing Rs. 20,000 from the business for his
personal use.
August 21. Paid cash Rs.15,000 and issued a cheque of Rs. 20,000 to Jamal Traders in full and final
settlement of his account.
August 22. Received commission Rs. 7,000
August 23. Purchased Office supplies on cash Rs. 6,000.
August 24. Received a cheque of Rs. 38,500 from Pasha Traders in full and final settlement of his account
(The cheque deposited into Bank on the same date)
August 25. Sold merchandise on cash Rs.34,600.
August 31. Goods remained un sold at the end of the month were Rs13,000 and Office supplies Rs.
8,00.
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