Question 1 [CLO 2] For the following transactions pass journal entries, prepare ledger accounts and also...

 

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Question 1 [CLO 2] For the following transactions pass journal entries, prepare ledger accounts and also prepare the trial balance. 2018 April 1. Saeed started business with cash $200,000, stock $70,000 and furniture $30,000 2. Purchased goods from Samer $100,000 3. Sold goods to Anas $160,000 5. Sold goods for cash $120,000 7. Purchased goods for cash $40,000 9. Paid to Samer $72,000 17. Received from Anas $80,000 25. Withdrew for personal purpose $5,000 26. Received commission $9,000 26. Paid rent $11,000 27. Sold goods to Anas $70,000 28. Purchased from Subhi $67,000 Question 1 [CLO 2] For the following transactions pass journal entries, prepare ledger accounts and also prepare the trial balance. 2018 April 1. Saeed started business with cash $200,000, stock $70,000 and furniture $30,000 2. Purchased goods from Samer $100,000 3. Sold goods to Anas $160,000 5. Sold goods for cash $120,000 7. Purchased goods for cash $40,000 9. Paid to Samer $72,000 17. Received from Anas $80,000 25. Withdrew for personal purpose $5,000 26. Received commission $9,000 26. Paid rent $11,000 27. Sold goods to Anas $70,000 28. Purchased from Subhi $67,000