https://prudentprofessors.com/wp-content/uploads/2021/01/prudentprofessors-300x87.png 0 0 Joseph https://prudentprofessors.com/wp-content/uploads/2021/01/prudentprofessors-300x87.png Joseph2021-02-09 12:49:552021-02-09 12:49:551 1 2012 mr started business named enterprises dealing electric fans investing rs 800000
Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount!
1 1 2012 mr started business named enterprises dealing electric fans investing rs 800000
On 1-1-2012, Mr. A started business (named as A. Enterprises) of dealing in electric fans by investing Rs. 800000 from his personal estate. The other transactions of business for the first month/Accounting period were as under: 1-1-2012 paid rent of office Rs. 20000. 2-1-2012, purchased furniture from Bhatti Furniture’s for cash Rs.100000. 3-1-2012, purchased 2 computers from Chishti Computers @ Rs. 30000 and paid cash Rs. 50000. 5-1-2012, borrowed from MCB Rs. 100000 at 40paisa/day/Rs.1000 outstanding loan where interest is to be paid annually while principal is payable in lump-sum after 3 years from now. 10-1-2012, purchased office supplies for cash Rs. 2000.. 22-1-2012, purchased 20 electric fans from National Electronics @ Rs. 1000 each for cash, paid Rs. 200 transportation and Rs. 100 tax/duty on such fans. 24-1-2012, sold 15 fans to Data Fans @ Rs. 1500 each for cash. 25-1-2012, purchased TV from ABC Brothers for Rs. 10000 and paid Rs. 2000 cash.. 26-1-2012, paid accounts payable of 25-1-2002.. 31-1-2012, paid telephone charges Rs. 2000 and petty cash charges Rs. 1000 for this month.. Following were the adjustments for this month: 1. Un-expired rent = Rs. 15000 2- Supplies expired = Rs. 1200 3. Accrued electricity bill Rs. 1400, 4. Salary outstanding = Rs. 1000 5. Depreciate furniture for Rs. 200 and TV for Rs. 50. Required: Make journal, ledger, un-adjusted trial balance, adjusting entries, adjusted trial balance, income statement, balance sheet, closing entries, post-closing trial balance and work sheet for case no.1.