Salman & Co commenced business of Trading in Books on 01-04-2018 with a capital of Ro.45000.The transactions for the month of April 2015 are as under

02-04-15 Purchased goods on cash from Ahmed for Ro.8000

02-04-15 Conveyance charges paid

02-04-15 purchased furniture for Ro.3000

04-04-15 Credit purchases from Mazda & Co Ro.8000

05-04-15 cash sales to Nissan&Co Ro.6000

06-04-15 Cash deposited in Bank muscat of Ro.5000

08-04-15 credit sales to Renault Ro.9000

10-04-15 Cheque issued to Mazda &Co Ro.3000

12-04-15 Cheque received from Renault &CoRo.5800 in full settlement.

15-04-15 Credit purchases from Kia Ro.5500

15-04-15 cheque issued for Ro.1500 to mazda & Co in full settlement

20-04-15 Electricity charges paid through cheque Ro.450

21-04-15 Credit sales to BMW & Co Ro.7200

24-04-15 Salaries paid in cash to C Ro.1000 & Cheque Ro.800 to B

25-04-15 Cash sales to Kia Ro.3200

26-04-15 Cheque received from BMW & Co Ro.8200

27-04-15 Goods sold to Car& Co for Ro.6000

28-04-15 Rent paid for the month Ro.500

28-04-15 Cheque issued to Kia Ro.5500

29-04-15 purchases made from Renault &Co worth Ro.3500

29-04015 Cheque book charges Ro.50

30-04-15 Interest Received on account Ro.85

30-04-15 Cash drawn for personal use Ro.1000

30-04-08 Cheques received from Car & Co in full settlement Ro.9000

Adjustment

Closing Stock Ro.10,000

Deprecation charged at 1% per month

Prepare accounts of above transaction using computers, prepare ledger, Journal, Trial Balance, Profit and loss Account and Balance Sheet.

Answer rating: 100% (QA)

Ledger Ahmed Debit 020415 Purchases 8000 Credit Journal 020415 Debit Purchases 8000 Debit Furniture ... View the full answer