Why Choose Us?
0% AI Guarantee
Human-written only.
24/7 Support
Anytime, anywhere.
Plagiarism Free
100% Original.
Expert Tutors
Masters & PhDs.
100% Confidential
Your privacy matters.
On-Time Delivery
Never miss a deadline.
Q
Q. No. 3. Enter the following transactions in the proper daily books and post them to ledger accounts. Also prepare Trial Balance: (30) 2015 Jan. 1: Purchased goods worth 6,000 from My Imran & Sons. Jan.5: Sold goods to M/s Asim 2,000. Jan. 7: Purchased goods from M's Salman Bros. 4,000 at 5% TD (Trade Discount). Jan. 9: Sold goods to Kamran on cash 500. jan. 12: Bought goods from Raza 3,500 at 10% TD. Jan. 17: Supplied goods to M/s Qadeer 2,500 at 5% TD. Jan. 20: Sold furniture to M/s Dilawar worth 1,200. jan. 22: Returned goods to M/s Salman Bros. 500 gross. Jan. 25: M/s Ahmed returned goods worth 500. Jan. 27: Sent debit note to Ms Imron for 200. Jan. 30: Sold goods to Dilawar worth 9,000 and received half amount on the spot.
Expert Solution
Ledger
|
Cash a/c |
|||||||
|
Date |
Particulars |
J.F. |
Amount |
Date |
Particulars |
J.F. |
Amount |
|
9/1/2015 |
To Sales A/c |
500 |
31/1/2015 |
By Balance c/d |
5,000 |
||
|
30/1/2015 |
To Sales A/c |
4,500 |
|||||
|
5,000 |
5,000 |
||||||
|
M/s Imran & Sons A/c |
|||||||
|
Date |
Particulars |
J.F. |
Amount |
Date |
Particulars |
J.F. |
Amount |
|
27/1/2015 |
To Purchases return a/c |
200 |
1/1/2015 |
By Purchases A/c |
6,000 |
||
|
31/1/2015 |
To Balance c/d |
5,800 |
|||||
|
6,000 |
6,000 |
||||||
|
M/s Asim a/c |
|||||||
|
Date |
Particulars |
J.F. |
Amount |
Date |
Particulars |
J.F. |
Amount |
|
5/1/2015 |
To Sales A/c |
2,000 |
31/1/2015 |
By Balance c/d |
2,000 |
||
|
M/s Salman Bros. |
|||||||
|
Date |
Particulars |
J.F. |
Amount |
Date |
Particulars |
J.F. |
Amount |
|
22/1/2015 |
To Purchase Return A/c |
475 |
7/1/2015 |
By Purchases A/c |
3,800 |
||
|
31/1/2015 |
To Balance c/d |
3,325 |
|||||
|
3,800 |
3,800 |
||||||
|
Purchase return a/c |
|||||||
|
Date |
Particulars |
J.F. |
Amount |
Date |
Particulars |
J.F. |
Amount |
|
31/1/2015 |
To Balance c/d |
675 |
22/1/2015 |
By M/s Salman Bros. A/c |
475 |
||
|
27/1/2015 |
By M/s Imran & Sons A/c |
200 |
|||||
|
675 |
675 |
||||||
|
Sales return a/c |
|||||||
|
Date |
Particulars |
J.F. |
Amount |
Date |
Particulars |
J.F. |
Amount |
|
25/01/2015 |
To M/s Ahmed A/c |
500 |
31/1/2015 |
By balance c/d |
500 |
||
|
Furniture a/c |
|||||||
|
Date |
Particulars |
J.F. |
Amount |
Date |
Particulars |
J.F. |
Amount |
|
31/1/2015 |
To Balance c/d |
1,200 |
20/1/2015 |
By M/s Dilawar’s A/c |
1,200 |
||
|
Purchases a/c |
|||||||
|
Date |
Particulars |
J.F. |
Amount |
Date |
Particulars |
J.F. |
Amount |
|
1/1/2015 |
To M/s Imran & Sons |
6,000 |
31/1/2015 |
By balance c/d |
12,950 |
||
|
7/1/2015 |
To M/s Salman Bros. A/c |
3,800 |
|||||
|
12/1/2015 |
To Raza’s A/c |
3,150 |
|||||
|
12,950 |
12,950 |
||||||
|
Sales a/c |
|||||||
|
Date |
Particulars |
J.F. |
Amount |
Date |
Particulars |
J.F. |
Amount |
|
31/1/2015 |
To Balance c/d |
13,875 |
5/1/2015 |
By M/s Asim A/c |
2,000 |
||
|
9/1/2015 |
By Cash A/c |
500 |
|||||
|
17/1/2015 |
By M/s Qadeer’s A/c |
2,375 |
|||||
|
30/1/2015 |
By Cash A/c |
4,500 |
|||||
|
30/1/2015 |
By Dilawar's A/c |
4,500 |
|||||
|
13,875 |
13,875 |
||||||
|
Raza’s A/c |
|||||||
|
Date |
Particulars |
J.F. |
Amount |
Date |
Particulars |
J.F. |
Amount |
|
31/1/2015 |
To Balance c/d |
3,150 |
12/1/2015 |
By Purchases A/c |
3,150 |
||
|
M/s Qadeer’s A/c |
|||||||
|
Date |
Particulars |
J.F. |
Amount |
Date |
Particulars |
J.F. |
Amount |
|
17/1/2015 |
To Sales A/c |
2,375 |
31/1/2015 |
By Balance c/d |
2,375 |
||
|
M/s Dilawar’s A/c |
|||||||
|
Date |
Particulars |
J.F. |
Amount |
Date |
Particulars |
J.F. |
Amount |
|
20/1/2015 |
To Furniture A/c |
1,200 |
31/1/2015 |
By Balance c/d |
5,700 |
||
|
30/1/2015 |
To Sales A/c |
4,500 |
|||||
|
5,700 |
5,700 |
||||||
|
M/s Ahmed A/c |
|||||||
|
Date |
Particulars |
J.F. |
Amount |
Date |
Particulars |
J.F. |
Amount |
|
31/1/2015 |
To Balance c/d |
500 |
25/01/2015 |
By sales return a/c |
500 |
|
Trial Balance |
|||
|
Debit balances |
Amount |
Credit Balances |
Amount |
|
Cash |
5,000 |
M/s Imran & Sons |
5,800 |
|
M/s Asim |
2,000 |
M/s Salman Bros. |
3,325 |
|
Sales return |
500 |
Purchase return |
675 |
|
Purchases |
12,950 |
Furniture |
1,200 |
|
M/s Qadeer |
2,375 |
Sales |
13,875 |
|
M/s Dilawar |
5,700 |
Raza |
3,150 |
|
M/s Ahmed |
500 |
||
|
28,525 |
28,525 |
Archived Solution
You have full access to this solution. To save a copy with all formatting and attachments, use the button below.
For ready-to-submit work, please order a fresh solution below.
