Jan 01, 2010. Mr. Nawaz start its business by Investing Rs.5,000,000/- in business account. He Purchase...

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Jan 01, 2010. Mr. Nawaz start its business by Investing Rs.5,000,000/- in business account. He Purchase raw material for Rs.100,000/- Jan 05, jan 07 Purchase of Machinery for Rs.50000/- paid Rs.30000/- cash and rest of amount was adjusted against accounts payable. Jan 08 He gets Loan from bank Rs.500,000/- against notes payable Purchased of office computer on Credit for Rs.90,000/- Paid utility Bills of Rs.50,000/- Jan 10 jan 14 Jan 17 Made an additional investment of Rs.500,000/- Jan 19 Purchased building from shayan Builders at a total cost of Rs.500000/- paid Rs.300000/- cash and issue notes payable for rest of the amount. Jan 22 Mr. Shahzad made withdrawals of Rs. 10,000/- for personal use from business bank account. jan 23 Paid rent of parking area adjacent to office building Rs: 25000/- jan 25 made payment of Rs.5200/- against A/P jan 27 Made payment of Rs.15000/- against N/P Q.F Q.I. Q.2. Q.3. Record Journal Entries for above given business transactions as per standard format? Prepare Ledger Accounts (T-Format) Prepare Trial Balance as per standard format. Q.4. Write a short note on the following: a. Straight Line Depreciation Method. 6. Debit & Credit Rules. Balance Sheet Vs Income Statement Jan 01, 2010. Mr. Nawaz start its business by Investing Rs.5,000,000/- in business account. He Purchase raw material for Rs.100,000/- Jan 05, jan 07 Purchase of Machinery for Rs.50000/- paid Rs.30000/- cash and rest of amount was adjusted against accounts payable. Jan 08 He gets Loan from bank Rs.500,000/- against notes payable Purchased of office computer on Credit for Rs.90,000/- Paid utility Bills of Rs.50,000/- Jan 10 jan 14 Jan 17 Made an additional investment of Rs.500,000/- Jan 19 Purchased building from shayan Builders at a total cost of Rs.500000/- paid Rs.300000/- cash and issue notes payable for rest of the amount. Jan 22 Mr. Shahzad made withdrawals of Rs. 10,000/- for personal use from business bank account. jan 23 Paid rent of parking area adjacent to office building Rs: 25000/- jan 25 made payment of Rs.5200/- against A/P jan 27 Made payment of Rs.15000/- against N/P Q.F Q.I. Q.2. Q.3. Record Journal Entries for above given business transactions as per standard format? Prepare Ledger Accounts (T-Format) Prepare Trial Balance as per standard format. Q.4. Write a short note on the following: a. Straight Line Depreciation Method. 6. Debit & Credit Rules. Balance Sheet Vs Income Statement