1.SL. Mr. Saeed started his business with cash Rs. 65,000, Furniture Rs. 20,000 and Building Rs. 1,00,000 on Ist January, 1990. His transaction during the month were as follows : 1990 Jan. 1 Purchased goods on account from Asif worth Rs. 15,000. "2 Purchased goods for cash Rs. 30,000. "3 Sold goods for cash Rs. 22,000. "5 Sold goods to Shahid & Sons for Rs. 14,000. "8 Purchased a typewriter for Rs. 8,000. " 10 Bought an iron safe for Rs. 4,000. " 12 Made purchases from Salman Rs. 18,000. " 14 Opened Bank Account with Rs. 20,000.
1.SL. Mr. Saeed started his business with cash Rs. 65,000, Furniture Rs. 20,000 and Building Rs. 1,00,000 on Ist January, 1990. His transaction during the month were as follows : 1990 Jan. 1 Purchased goods on account from Asif worth Rs. 15,000. "2 Purchased goods for cash Rs. 30,000. "3 Sold goods for cash Rs. 22,000. "5 Sold goods to Shahid & Sons for Rs. 14,000. "8 Purchased a typewriter for Rs. 8,000. " 10 Bought an iron safe for Rs. 4,000. " 12 Made purchases from Salman Rs. 18,000. " 14 Opened Bank Account with Rs. 20,000.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Journalise the above transaction and post them into the ledger
Transcribed Image Text:PROBLEMS
1.SL. Mr. Saeed started his business with cash Rs. 65,000, Furniture Rs. 20,000 and
Building Rs. 1,00,000 on Ist January, 1990.
His transaction during the month were as follows :
1990
Jan. 1 Purchased goods on account from Asif worth Rs. 15,000.
"2 Purchased goods for cash Rs. 30,000.
"3 Sold goods for cash Rs. 22,000.
"5 Sold goods to Shahid & Sons for Rs. 14,000.
"8 Purchased a typewriter for Rs. 8,000.
" 10 Bought an iron safe for Rs. 4,000.
" 12 Made purchases from Salman Rs. 18,000.
" 14 Opened Bank Account with Rs. 20,000.
Transcribed Image Text:PROBLEMS
1.SL. Mr. Saeed started his business with cash Rs. 65,000, Furniture Rs. 20,000 and
Building Rs. 1,00,000 on Ist January, 1990.
His transaction during the month were as follows :
1990
Jan. 1 Purchased goods on account from Asif worth Rs. 15,000.
"2 Purchased goods for cash Rs. 30,000.
"3 Sold goods for cash Rs. 22,000.
"5 Sold goods to Shahid & Sons for Rs. 14,000.
"8 Purchased a typewriter for Rs. 8,000.
" 10 Bought an iron safe for Rs. 4,000.
" 12 Made purchases from Salman Rs. 18,000.
" 14 Opened Bank Account with Rs. 20,000.
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