Company has initial capital of Rs.20,00,000 Journalizing the Transactions (Atleast 20 transaction )The company invested Rs....
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Company has initial capital of Rs.20,00,000 Journalizing the Transactions (Atleast 20 transaction )The company invested Rs. 20,00,000 as initial capital. Purchased solar panels inventory for Rs. 5,00,000. Bought wind turbines inventory for Rs. 6,00,000. Acquired a commercial property for the company headquarters for Rs. 8,00,000. Took a bank loan of Rs. 7,00,000 for operational expenses. Sold solar panels worth Rs. 3,00,000. Sold wind turbines worth Rs. 4,00,000. Received Rs. 1,50,000 from customers as advance payments for energy consulting services. Incurred Rs. 2,50,000 in marketing and advertising expenses. Paid Rs. 1,80,000 in salaries to employees. Received Rs. 1,20,000 in revenue from energy consulting services. Paid Rs. 50,000 in rent for the company headquarters. Repaid Rs. 2,00,000 of the bank loan. Purchased energy-efficient lighting systems inventory for Rs. 2,00,000. Sold lighting systems worth Rs. 1,50,000. Received a grant of Rs. 2,50,000 for research and development. Paid Rs. 30,000 for utilities and office supplies. Incurred a depreciation expense of Rs. 10,000 for office equipment. Repaid the remaining Rs. 5,00,000 of the bank loan. Declared a dividend of Rs. 1,00,000 to shareholders. Summarize in to Ledger Trial Balance Financial Statements- Income Statement and Balance Sheet Company has initial capital of Rs.20,00,000 Journalizing the Transactions (Atleast 20 transaction )The company invested Rs. 20,00,000 as initial capital. Purchased solar panels inventory for Rs. 5,00,000. Bought wind turbines inventory for Rs. 6,00,000. Acquired a commercial property for the company headquarters for Rs. 8,00,000. Took a bank loan of Rs. 7,00,000 for operational expenses. Sold solar panels worth Rs. 3,00,000. Sold wind turbines worth Rs. 4,00,000. Received Rs. 1,50,000 from customers as advance payments for energy consulting services. Incurred Rs. 2,50,000 in marketing and advertising expenses. Paid Rs. 1,80,000 in salaries to employees. Received Rs. 1,20,000 in revenue from energy consulting services. Paid Rs. 50,000 in rent for the company headquarters. Repaid Rs. 2,00,000 of the bank loan. Purchased energy-efficient lighting systems inventory for Rs. 2,00,000. Sold lighting systems worth Rs. 1,50,000. Received a grant of Rs. 2,50,000 for research and development. Paid Rs. 30,000 for utilities and office supplies. Incurred a depreciation expense of Rs. 10,000 for office equipment. Repaid the remaining Rs. 5,00,000 of the bank loan. Declared a dividend of Rs. 1,00,000 to shareholders. Summarize in to Ledger Trial Balance Financial Statements- Income Statement and Balance Sheet
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Answer rating: 100% (QA)
Ledger Capital Account Initial capital investment Debit Rs 2000000 Solar Panels Inventory Debit Rs 500000 Credit Rs 300000 Sold Wind Turbines Inventor... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-1119048534
11th Canadian edition Volume 1
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Nicola M. Young, Irene M. Wiecek, Bruce J. McConomy
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