Record transactions given in the quick book and print out following report

Transactions:

1. Started business with cash Rs.500,000

2. Cash deposited into Bank A/c Rs.300,000

3. Furniture purchased on credit from Shine Furnitures Rs.60,000

4. Goods purchased on credit from Zaman & Co for Rs.350,000, bill # 432

5. Paid carriages in cash Rs.2,000

6. Goods sold on credit to Shahid Bros for Rs.220,000, bill 103

7. To record cost of goods sold Rs.120,000

8. Advertisement expense paid in cash Rs.3,000

9. Rent paid Rs.12,000 by cheque # 76620

10. Cheque # 76622 paid to Shine Furnitures for Rs.45,000

11. Goods sold for cash Rs.150,000, bill 104

12. To record cost of goods sold Rs.80,000

13. Cheque # 76624 paid to Zaman & Co for Rs.200,000

14. Cheque # 89459 received from Shahid Bros & deposited into bank a/c for Rs.170,000

15. Depreciation charged on furniture Rs.6,000

Answer rating: 100% (QA)

Date Account Dr Cr Cash 500000 Owners Partners Stockholders Equity 500000 Being Capital Introduced D... View the full answer