2013 April 1 Mr. Abdullah started business with cash 100,000 April 2 Bought goods for cash 30.500...

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2013

April 1 Mr. Abdullah started business with cash 100,000

April 2 Bought goods for cash 30.500

April 3 Opened Bank Account with cash 50,000

April 4 Sold goods for cash 40,000

April 7 Bought goods for XYZ Ltd on credit 30,000

April 10 Sold goods to ABC Ltd on credit 5,000

April 15 Purchased machinery and payment made by cheque 16,600

April 19 Paid to XYZ Ltd in cash 10,000

April 21 Received loan from Anil and deposited the same into bank 8,000

April 23 Withdrew from bank for personal use 5,000

April 26 Paid to XYZ Ltd by cheque 8,000

April 27 Received cash from ABC Ltd 10,000

April 30 Purchased stationery by cash 200

April 30 Paid wages and salaries 10,000


A: Pass Journal entries for the above transaction

B: Post them to the appropriate Ledger Accounts

C: Prepare Trial balance from the ledger balances


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Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

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