Based on the scenario below complete: (i) any five journal entries, & (ii) draw up T- accounts and post the entries appropriately. A. July 1: Your friend has started a bike parts business by depositing Tk. 45 lac in Prime Bank. B. Aug 14: The company buys parts worth Tk. 12 lacs 50% on credit and 50% by cash. C. Sep 6: The company sells merchandise worth Tk. 330,000 on credit. D. Oct 5: The company receives Tk. 299,000 from customers. E. Oct 31: The company recognizes it has to pay Tk. 13,500 to DESCO in the following month for electricity consumed during October. F. Nov 1: The company paid two months' rent in advance, Tk. 50,000, by giving a cheque on Prime Bank.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Based on the scenario below complete: (i) any five journal entries, & (ii) draw up T-
accounts and post the entries appropriately.
A. July 1: Your friend has started a bike parts business by depositing Tk. 45 lac in Prime
Bank.
B. Aug 14: The company buys parts worth Tk. 12 lacs 50% on credit and 50% by cash.
C. Sep 6: The company sells merchandise worth Tk. 330,000 on credit.
D. Oct 5: The company receives Tk. 299,000 from customers.
E. Oct 31: The company recognizes it has to pay Tk. 13,500 to DESCO in the following
month for electricity consumed during October.
F. Nov 1: The company paid two months' rent in advance, Tk. 50,000, by giving a
cheque on Prime Bank.
Transcribed Image Text:Based on the scenario below complete: (i) any five journal entries, & (ii) draw up T- accounts and post the entries appropriately. A. July 1: Your friend has started a bike parts business by depositing Tk. 45 lac in Prime Bank. B. Aug 14: The company buys parts worth Tk. 12 lacs 50% on credit and 50% by cash. C. Sep 6: The company sells merchandise worth Tk. 330,000 on credit. D. Oct 5: The company receives Tk. 299,000 from customers. E. Oct 31: The company recognizes it has to pay Tk. 13,500 to DESCO in the following month for electricity consumed during October. F. Nov 1: The company paid two months' rent in advance, Tk. 50,000, by giving a cheque on Prime Bank.
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