Mehran Centre's, operated by Solangi: Accounting Equation For The Month Of April 2017 - HelpMeOutAlways

Saturday, April 27, 2019

Mehran Centre's, operated by Solangi: Accounting Equation For The Month Of April 2017

Following transactions relate to the business of Mehran Centre, operated by Solangi:
April 2017
01, Invested cash In business Rs. 160,000
03,  Pod six months rent to landlord Rs. 2,500 per month.
04,  Purchased merchandise on cash Rs. 42,980.
05  Purchased furniture on credit from model furnishers for Rs. 20,000.
06,  Sold merchandise on cash Rs. 8,750.
08,  Solangi transferred from his personal bank account to his firm's bank a/c Rs. 60,000.
10,  Purchased office equipment on credit form Haseen Bro's Rs. 14,230.
13,  Sold merchandise to Nisar & Co. Rs. 22,450.
15,  Issued cheque to Model furnishers Rs.12,850.
19,  Paid to Haseen Bros. Cash Rs. 2,500 and cheque Rs. 6,000.
23,  Received cash from Nisar & co. Rs. 11,350.
27,  Solangi withdrew Rs. 5,000 by cheque for private use.
   
Required: Prepare the Accounting Equation for the above transactions.

Following transactions relate to the business of Mehran Centre, operated by Solangi:  April 2017  01, Invested cash In business Rs. 160,000  03,  Pod six months rent to landlord Rs. 2,500 per month.  04,  Purchased merchandise on cash Rs. 42,980.  05  Purchased furniture on credit from model furnishers for Rs. 20,000.  06,  Sold merchandise on cash Rs. 8,750.  08,  Solangi transferred from his personal bank account to his firm's bank a/c Rs. 60,000.  10,  Purchased office equipment on credit form Haseen Bro's Rs. 14,230.  13,  Sold merchandise to Nisar & Co. Rs. 22,450.  15,  Issued cheque to Model furnishers Rs.12,850.  19,  Paid to Haseen Bros. Cash Rs. 2,500 and cheque Rs. 6,000.  23,  Received cash from Nisar & co. Rs. 11,350.  27,  Solangi withdrew Rs. 5,000 by cheque for private use.

Following transactions relate to the business of Mehran Centre, operated by Solangi:  April 2017  01, Invested cash In business Rs. 160,000  03,  Pod six months rent to landlord Rs. 2,500 per month.  04,  Purchased merchandise on cash Rs. 42,980.  05  Purchased furniture on credit from model furnishers for Rs. 20,000.  06,  Sold merchandise on cash Rs. 8,750.  08,  Solangi transferred from his personal bank account to his firm's bank a/c Rs. 60,000.  10,  Purchased office equipment on credit form Haseen Bro's Rs. 14,230.  13,  Sold merchandise to Nisar & Co. Rs. 22,450.  15,  Issued cheque to Model furnishers Rs.12,850.  19,  Paid to Haseen Bros. Cash Rs. 2,500 and cheque Rs. 6,000.  23,  Received cash from Nisar & co. Rs. 11,350.  27,  Solangi withdrew Rs. 5,000 by cheque for private use.

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