Journalize the entries: Rehan & Co. on August 1, 2019 Cash at hand Rs.500,000 and Cash at
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Journalize the entries:
Rehan & Co. on August 1, 2019 Cash at hand
Rehan & Co. on August 1, 2019 Cash at hand
Rs.500,000 and Cash at Bank Rs.250,000. Following
were the transactions completed during the month of
August 2019:
1 Purchased Office furniture for Rs.52,300 and issued a cheque for the amount.
3 Paid Rs 400 for current month's rent
6 Salary paid by cheque Rs.35,000.
Accepted cash for services rendered Rs.860
7 Sold merchandise to Zahid & sons Rs.21.500.
11 Cash Rs.60,000 and cheque of Rs.5000 was deposited into the bank.
12 Withdrew from bank Rs.5000 for office use.
22 Merchandise previously bought on account returned to Diva's Store of
Rs.30.000
23 Purchased office supplies from Mr. Wahid Rs.25,000 paying Rs.13,500 cash
and signing a note to pay the balance.
25 Razi Traders returned defective goods worth Rs. 30,000
27 Cheque of Rs.80,000 received from Maheen was dishonored by the bank
30 Cash was found short Rs.1000
Related Book For
Fundamentals of Financial Accounting
ISBN: 978-0078025914
5th edition
Authors: Fred Phillips, Robert Libby, Patricia Libby
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