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Mr. Noman started a sole proprietorship business. The business is newly established and Mr. Noman hired an Accountant for keeping the journal updated. Suppose you are the accountant of Mr. Noman's business, prepare the journal book for the month of December, 2020.-You are also required to post journal entries into the ledger and prepare the trial balance. Detail of the transactions during December, 2020 are given as follows: Dece.1 . Mr. Noman commenced business with Cash of Rs. 2,200,000/- Building Rs.4, 500, 000/- 2. Purchased Goods with cash Rs. 300,000/- 7. Purchased furniture from Miss Hareem Rs.250, 000/- 8. Sold goods to Mr. M. Naeem Rs. 120,000/ ¬15. Goods returned to Miss Hareem Rs. 10, 000/¬ 18. Stationery Purchased Rs.10, 000/- 24. Returned goods to Mr. M. Naeem Rs.12, 000/ ¬26. Utility bills paid for the month Rs.70, 000/ ¬31. Rent paid for the month Rs.50, 000/-

Mr. Noman started a sole proprietorship business. The business is newly established and Mr. Noman hired an Accountant for keeping the journal updated. Suppose you are the accountant of Mr. Noman's business, prepare the journal book for the month of December, 2020.-You are also required to post journal entries into the ledger and prepare the trial balance. Detail of the transactions during December, 2020 are given as follows: Dece.1 . Mr. Noman commenced business with Cash of Rs. 2,200,000/- Building Rs.4, 500, 000/- 2. Purchased Goods with cash Rs. 300,000/- 7. Purchased furniture from Miss Hareem Rs.250, 000/- 8. Sold goods to Mr. M. Naeem Rs. 120,000/ ¬15. Goods returned to Miss Hareem Rs. 10, 000/¬ 18. Stationery Purchased Rs.10, 000/- 24. Returned goods to Mr. M. Naeem Rs.12, 000/ ¬26. Utility bills paid for the month Rs.70, 000/ ¬31. Rent paid for the month Rs.50, 000/-

SWFT Comprehensive Vol 2020
SWFT Comprehensive Vol 2020
43rd Edition
ISBN:9780357391723
Author:Maloney
Publisher:Maloney
Chapter16: Accounting Periods And Methods
Section: Chapter Questions
Problem 33P
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Mr. Noman started a sole proprietorship business. The business is newly established and Mr. Noman hired an Accountant for keeping the journal updated. Suppose you are the accountant of Mr. Noman's business, prepare the journal book for the month of December, 2020.-You are also required to post journal entries into the ledger and prepare the trial balance. Detail of the transactions during December, 2020 are given as follows:
Dece.1 . Mr. Noman commenced business with Cash of Rs. 2,200,000/- Building Rs.4, 500, 000/-
2. Purchased Goods with cash Rs. 300,000/-
7. Purchased furniture from Miss Hareem Rs.250, 000/-
8. Sold goods to Mr. M. Naeem Rs. 120,000/
¬15. Goods returned to Miss Hareem Rs. 10, 000/¬
18. Stationery Purchased Rs.10, 000/-
24. Returned goods to Mr. M. Naeem Rs.12, 000/
¬26. Utility bills paid for the month Rs.70, 000/
¬31. Rent paid for the month Rs.50, 000/-

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