HelpMeOutAlways: Financial Accounting
Showing posts with label Financial Accounting. Show all posts
Showing posts with label Financial Accounting. Show all posts

Saturday, April 27, 2019

Aqil's Business Accounting Equation For The Month Of January 2009
April 27, 20190 Comments
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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Mehran Centre's, operated by Solangi: Accounting Equation For The Month Of  April 2017
April 27, 20190 Comments
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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Kabir & Company's Accounting Equation  For The Month Of October
April 27, 20190 Comments
Given:

Following are the transactions of Kabir & Co for the month of October.
01. Mr. Kabir started his business with cash Rs. 500, 000.
02. Opened a bank account in HBL Rs. 25,000.
03. Purchased furniture Rs. 11,200.
04, Purchased merchandise from Model Ltd.ycs. 8,450
05. Cash sales ( cost price Rs. 2,100) at Rs. 2,540. :)
06. Purchased on cash Rs. 7,230. 11, Credit sales ( cost RS. 1480) to Wali Bhai at Rs.3,700.
11. Credit sales (cost Rs 1,480) to Wali Bai at Rs 1,700.
15. Paid to Model Ltd. by cheque Rs. 4,000.
18. Received from Wall bai Rs. 1,700.
22. Returned Merchandise to Model Ltd Rs. 150.
Required: Prepare the Accounting Equation for the above transactions.


Following are the transactions of Kabir & Co for the month of October.  01. Mr. Kabir started his business with cash Rs. 500, 000.  02. Opened a bank account in HBL Rs. 25,000.  03. Purchased furniture Rs. 11,200.   04, Purchased merchandise from Model Ltd.ycs. 8,450  05. Cash sales ( cost price Rs. 2,100) at Rs. 2,540. :)  06. Purchased on cash Rs. 7,230. 11, Credit sales ( cost RS. 1480) to Wali Bhai at Rs.3,700.  11. Credit sales (cost Rs 1,480) to Wali Bai at Rs 1,700.  15. Paid to Model Ltd. by cheque Rs. 4,000.  18. Received from Wall bai Rs. 1,700.

Following are the transactions of Kabir & Co for the month of October.  01. Mr. Kabir started his business with cash Rs. 500, 000.  02. Opened a bank account in HBL Rs. 25,000.  03. Purchased furniture Rs. 11,200.   04, Purchased merchandise from Model Ltd.ycs. 8,450  05. Cash sales ( cost price Rs. 2,100) at Rs. 2,540. :)  06. Purchased on cash Rs. 7,230. 11, Credit sales ( cost RS. 1480) to Wali Bhai at Rs.3,700.  11. Credit sales (cost Rs 1,480) to Wali Bai at Rs 1,700.  15. Paid to Model Ltd. by cheque Rs. 4,000.  18. Received from Wall bai Rs. 1,700.

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Mughal Electric Ichra Lahore Accounting Equation For The Month OF December 2008
April 27, 20190 Comments
 Given:
 Following are the transactions of Mughal Electric Ichra Lahore:
 December 2008
01. Mughal invested cash Rs. 1040,000 in business and shop building Es. 246,000. :
02. Purchased Furniture Rs.31,500 on cash.
04, Purchased electric bulbs, electric irons, and other electric items Rs. 47,750.
05. Sold merchandise on cash Rs. 21,700.
07. Purchase electric heater, bulbs, PPI holders, etc from Modern electric store Rs. 13,245 on credit.
09.  Purchase electric typewriter for office use Rs. 21,000
12. Purchased office supplies i.e files ribbons, white and carbon papers, etc. Rs. 1,235.
15. Rented a portion of the shop and received rent Rs. 2,000.
19. Paid cash to Modern Electric Stores. Rs. 7,245.
24. Sold electric bulbs, holders, switches, etc. to Jamal Electric or, credit for Rs. 21,345.
27. Received cash from Jamal Electric Stores Rs. 8,345.
 Required: Prepare the Accounting Equation for the above transactions.

 Given:   Following are the transactions of Mughal Electric Ichra Lahore:   December 2008  01. Mughal invested cash Rs. 1040,000 in business and shop building Es. 246,000. :  02. Purchased Furniture Rs.31,500 on cash.  04, Purchased electric bulbs, electric irons, and other electric items Rs. 47,750.  05. Sold merchandise on cash Rs. 21,700.  07. Purchase electric heater, bulbs, PPI holders, etc from Modern electric store Rs. 13,245 on credit.  09.  Purchase electric typewriter for office use Rs. 21,000  12. Purchased office supplies i.e files ribbons, white and carbon papers, etc. Rs. 1,235.  15. Rented a portion of the shop and received rent Rs. 2,000.  19. Paid cash to Modern Electric Stores. Rs. 7,245.  24. Sold electric bulbs, holders, switches, etc. to Jamal Electric or, credit for Rs. 21,345.  27. Received cash from Jamal Electric Stores Rs. 8,345.

 Given:   Following are the transactions of Mughal Electric Ichra Lahore:   December 2008  01. Mughal invested cash Rs. 1040,000 in business and shop building Es. 246,000. :  02. Purchased Furniture Rs.31,500 on cash.  04, Purchased electric bulbs, electric irons, and other electric items Rs. 47,750.  05. Sold merchandise on cash Rs. 21,700.  07. Purchase electric heater, bulbs, PPI holders, etc from Modern electric store Rs. 13,245 on credit.  09.  Purchase electric typewriter for office use Rs. 21,000  12. Purchased office supplies i.e files ribbons, white and carbon papers, etc. Rs. 1,235.  15. Rented a portion of the shop and received rent Rs. 2,000.  19. Paid cash to Modern Electric Stores. Rs. 7,245.  24. Sold electric bulbs, holders, switches, etc. to Jamal Electric or, credit for Rs. 21,345.  27. Received cash from Jamal Electric Stores Rs. 8,345.

Click here to download excel file.



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Mr. Ghani Talak chari Hyderabad Accounting Equation For the Month of January
April 27, 20190 Comments

Given: 

2009 Following are the transactions of Mr. Ghani Talak chari Hyderabad, a sole trader during  January.
02.  Mr. Ghani started his business with a cash investment of Rs.25,0000.
04. Purchased merchandise on cash Rs.10,000.
07. Purchased merchandise from Kadar & Sons Rs. 11,500 on credit.
08. Sold merchandise on cash Rs. 5500.
10. Sold merchandise to Rais Rs. 7,350 on credit.
13. Cash deposited into a bank in the firm's account Rs: 20,000.
17. Received cash from Rais Rs. 3,850.
21.  Mr. Ghani withdrew cash Rs. 500 from a business for Private use.
26.  Paid to Kader & Sons Rs. 10,000 by cheque.

Required:
Prepare the Accounting Equation for the above transactions.
Mr. Ghani Talak chari Hyderabad Accounting Equation For the Month of January

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