Question: please help me ASAP!! Question No:4 10 Marks (a) On March 2020, Farhan Rahim, starts business. Following transactions as follows: Paid salaries to staff Rs.

 please help me ASAP!! Question No:4 10 Marks (a) On March

please help me ASAP!!

Question No:4 10 Marks (a) On March 2020, Farhan Rahim, starts business. Following transactions as follows: Paid salaries to staff Rs. 5400 Bought furniture for Rs. 3200, paid to K&Co. Rs.1200 and promised to pay balance after one month Withdrew cash for personal use Rs. 3000 Billed to Nasir for services rendered on credit Rs. 12500 Received from Nasir Rs.5000 Purchase equipment for Rs. 30,000 from Amir and paid cash Rs. 20,000, balance is payable Sold merchandise for Rs. 10,000 to Baber and received cash Rs.6000, balance is receivable Paid to Amir by cheque Rs.4000 Received from Baber Rs.1000 Paid salaries expense by cheque Rs.3000 Earned commission Rs 7000 (b) Prepare general journal entries for the following transactions of a business called Pose for Pics in 2019: Aug. 1: Hashim Khan, the owner, invested Rs. 57,500 cash and Rs. 32,500 of photography equipment in the business. 04: Paid Rs. 3,000 cash for an insurance policy covering the next 24 months. 07: Services are performed and clients are billed for Rs. 10,000. 13: Purchased office supplies for Rs. 1,400. Cash paid Rs. 400 and remaining outstanding. 20: Received Rs. 2,000 cash in photography fees earned previously. 24: The client immediately pays Rs. 15,000 for services to be performed at a later date. 29: The business acquires photography equipment. The purchase price is Rs. 100,000, pays Rs. 25,000 cash and signs a note for the balance

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