Question: Based on the scenario below complete: (i) any five journal entries, & (ii) draw up T-accounts and post the entries appropriately. A. July 1: Your

Based on the scenario below complete: (i) any five journal entries,

Based on the scenario below complete: (i) any five journal entries, \& (ii) draw up T-accounts and post the entries appropriately. A. July 1: Your friend has started a bike parts business by depositing Tk. 45 lac in Prime Bank. B. Aug 14: The company buys parts worth Tk. 12 lacs 50% on credit and 50% by cash. C. Sep 6: The company sells merchandise worth Tk. 330,000 on credit. D. Oct 5: The company receives Tk. 299,000 from customers. E. Oct 31: The company recognizes it has to pay Tk. 13,500 to DESCO in the following month for electricity consumed during October. F. Nov 1: The company paid two months' rent in advance, Tk. 50,000, by giving a cheque on Prime Bank

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

How do you prepare the following journal entries needed after the beginning balance? Global Bike, Inc. 1a (Excel) 2015 WINT ACCY 310 - Accounting Systems Due, Monday, Jan 12, 8am Estimated time to...

Could you provide me with the necessary journal entries for each event from pages 9,10,11,12, and 13. while using the accounts listed on page 8. (Some events may not need journal entries) (Some...

I am having trouble getting my trial balance to match the balancing from my instructor. I will attach both the problem, the excel document I have been working on as well as the trail balance...

Please help! i have provided a template, check figs, instructions and what i have completed so far. Please double check mysheet to see if there's anything i'm missing from the entries i have...

fxa This assignment is a review of general financial accounting principles and procedures. In this assignment you will create general journal entries for a series of transactions . You may optionally...

This assignment is a review of general financial accounting principles and procedures. In this assignment you will create general journal entries for a series of transactions . You may optionally...

Please create Journal entries, trial balance, adjusted trial balance and close out the income statement accounts. I have given everything you need below. WIll give the thumbs up to the first person...

This assignment is a review of general financial accounting principles and procedures. In this assignment you will create general journal entries for a series of transactions . You may optionally...

Find f(x) and g(x) If h(x) = f g(x) (1) h(x)= (3,+4) x +1 (2) h(x) = x2 +1 (3) h(x) = 5(x + 2)2 3(x + 2)+

Might challenging someone who is engaging in unethical behavior have some risk? How can this risk be minimized?

All fechnicians ale trained and rated as gualified or thet gualified by two managers thea and then. The ratinge given liy the two mianages ofo not always match Fiffeen percent of technicians who are...

Which territory was NOT part of the birth of American empire in the 1 8 9 0 s ? Hawaii Cuba The Philippines Puerto Rico Jamaica MacBook Pro Search or type URL

(Appendices) James, age 28, was laid off by an auto manufacturer when the firm began retooling to produce a new model car. He knows he will be called back to work when the model changeover is...

(Appendices) What are sales allowances? How do sales allowances differ from sales discounts? LO22

(Appendices) One of the most critical problems in unemployment compensation at the present time is the inadequate financing of benefits, which caused the majority of states to deplete their trust...