Aqil's Business Accounting Equation For The Month Of January 2009 - HelpMeOutAlways

Saturday, April 27, 2019

Aqil's Business Accounting Equation For The Month Of January 2009

Given:
Following transactions related to the business of Aqil during January 2009
0l,   Aqil started a business with cash Rs. 300,000.
02.  Opened a current account in National Bank with Rs. 100,000.
03,  Purchased furniture for Rs. 21,250.
03,  Paid shop rent Rs. 14,400 by cheque for 6 months.
04,  Purchased merchandise on cash Rs. 31,500
05,  Sold merchandise on cash Rs. 11,500.
07,  Purchased merchandise on credit from  Jamali 8 sons Rs. 48,500,
08,  A paid cheque for office supplies Rs. 1,250.
10,  Sold merchandise on credit to Nadir & co. Rs. 14,300.
12,  Paid for the advertisement to private TV channel Rs. 9,000.
14,  Merchandise returned to Jamali & sons Rs.750
16,  Merchandise returned from Nader & co. Rs. 425.
18,  Received cash Rs. 5,475 and cheque Rs. 8,000 from Nade & co. In full! settlement or account. The cheque was deposited on the same day.
21,  Paid cheque to Jamali & sons Rs. 24,000.
22,  Cash sales Rs. 12,225. Including a cheque of Rs 3,250.
29,  A deposited cheque of 22 Jan Into bank.
30,  Cash sales Rs. 15,600 Including cheque of Rs. 8,400. The cheque was deposited on the same day.
31,  Paid to Jamali & sons a cheque of Rs. 16,000 and cash Rs 7,150 with a full settlement.


Required: Prepare the Accounting Equation for the above transactions.

Following transactions related to the business of Aqil during January 2009  0l,   Aqil started a business with cash Rs. 300,000.  02.  Opened a current account in National Bank with Rs. 100,000.  03,  Purchased furniture for Rs. 21,250.  03,  Paid shop rent Rs. 14,400 by cheque for 6 months.  04,  Purchased merchandise on cash Rs. 31,500  05,  Sold merchandise on cash Rs. 11,500.  07,  Purchased merchandise on credit from  Jamali 8 sons Rs. 48,500,  08,  A paid cheque for office supplies Rs. 1,250.  10,  Sold merchandise on credit to Nadir & co. Rs. 14,300.  12,  Paid for the advertisement to private TV channel Rs. 9,000.  14,  Merchandise returned to Jamali & sons Rs.750  16,  Merchandise returned from Nader & co. Rs. 425.  18,  Received cash Rs. 5,475 and cheque Rs. 8,000 from Nade & co. In full! settlement or account. The cheque was deposited on the same day.  21,  Paid cheque to Jamali & sons Rs. 24,000.  22,  Cash sales Rs. 12,225. Including a cheque of Rs 3,250.  29,  A deposited cheque of 22 Jan Into bank.  30,  Cash sales Rs. 15,600 Including cheque of Rs. 8,400. The cheque was deposited on the same day.  31,  Paid to Jamali & sons a cheque of Rs. 16,000 and cash Rs 7,150 with a full settlement.

Following transactions related to the business of Aqil during January 2009  0l,   Aqil started a business with cash Rs. 300,000.  02.  Opened a current account in National Bank with Rs. 100,000.  03,  Purchased furniture for Rs. 21,250.  03,  Paid shop rent Rs. 14,400 by cheque for 6 months.  04,  Purchased merchandise on cash Rs. 31,500  05,  Sold merchandise on cash Rs. 11,500.  07,  Purchased merchandise on credit from  Jamali 8 sons Rs. 48,500,  08,  A paid cheque for office supplies Rs. 1,250.  10,  Sold merchandise on credit to Nadir & co. Rs. 14,300.  12,  Paid for the advertisement to private TV channel Rs. 9,000.  14,  Merchandise returned to Jamali & sons Rs.750  16,  Merchandise returned from Nader & co. Rs. 425.  18,  Received cash Rs. 5,475 and cheque Rs. 8,000 from Nade & co. In full! settlement or account. The cheque was deposited on the same day.  21,  Paid cheque to Jamali & sons Rs. 24,000.  22,  Cash sales Rs. 12,225. Including a cheque of Rs 3,250.  29,  A deposited cheque of 22 Jan Into bank.  30,  Cash sales Rs. 15,600 Including cheque of Rs. 8,400. The cheque was deposited on the same day.  31,  Paid to Jamali & sons a cheque of Rs. 16,000 and cash Rs 7,150 with a full settlement.

Following transactions related to the business of Aqil during January 2009  0l,   Aqil started a business with cash Rs. 300,000.  02.  Opened a current account in National Bank with Rs. 100,000.  03,  Purchased furniture for Rs. 21,250.  03,  Paid shop rent Rs. 14,400 by cheque for 6 months.  04,  Purchased merchandise on cash Rs. 31,500  05,  Sold merchandise on cash Rs. 11,500.  07,  Purchased merchandise on credit from  Jamali 8 sons Rs. 48,500,  08,  A paid cheque for office supplies Rs. 1,250.  10,  Sold merchandise on credit to Nadir & co. Rs. 14,300.  12,  Paid for the advertisement to private TV channel Rs. 9,000.  14,  Merchandise returned to Jamali & sons Rs.750  16,  Merchandise returned from Nader & co. Rs. 425.  18,  Received cash Rs. 5,475 and cheque Rs. 8,000 from Nade & co. In full! settlement or account. The cheque was deposited on the same day.  21,  Paid cheque to Jamali & sons Rs. 24,000.  22,  Cash sales Rs. 12,225. Including a cheque of Rs 3,250.  29,  A deposited cheque of 22 Jan Into bank.  30,  Cash sales Rs. 15,600 Including cheque of Rs. 8,400. The cheque was deposited on the same day.  31,  Paid to Jamali & sons a cheque of Rs. 16,000 and cash Rs 7,150 with a full settlement.

Following transactions related to the business of Aqil during January 2009  0l,   Aqil started a business with cash Rs. 300,000.  02.  Opened a current account in National Bank with Rs. 100,000.  03,  Purchased furniture for Rs. 21,250.  03,  Paid shop rent Rs. 14,400 by cheque for 6 months.  04,  Purchased merchandise on cash Rs. 31,500  05,  Sold merchandise on cash Rs. 11,500.  07,  Purchased merchandise on credit from  Jamali 8 sons Rs. 48,500,  08,  A paid cheque for office supplies Rs. 1,250.  10,  Sold merchandise on credit to Nadir & co. Rs. 14,300.  12,  Paid for the advertisement to private TV channel Rs. 9,000.  14,  Merchandise returned to Jamali & sons Rs.750  16,  Merchandise returned from Nader & co. Rs. 425.  18,  Received cash Rs. 5,475 and cheque Rs. 8,000 from Nade & co. In full! settlement or account. The cheque was deposited on the same day.  21,  Paid cheque to Jamali & sons Rs. 24,000.  22,  Cash sales Rs. 12,225. Including a cheque of Rs 3,250.  29,  A deposited cheque of 22 Jan Into bank.  30,  Cash sales Rs. 15,600 Including cheque of Rs. 8,400. The cheque was deposited on the same day.  31,  Paid to Jamali & sons a cheque of Rs. 16,000 and cash Rs 7,150 with a full settlement.
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