Mr. R started a business with Rs. 100,000 cash. Various transactions occurred including purchasing goods on credit, selling goods for cash, receiving and paying cash for goods, withdrawing cash and goods for personal use, goods being destroyed or given as charity. The document lists 12 transactions and asks the reader to analyze them.
Mr. R started a business with Rs. 100,000 cash. Various transactions occurred including purchasing goods on credit, selling goods for cash, receiving and paying cash for goods, withdrawing cash and goods for personal use, goods being destroyed or given as charity. The document lists 12 transactions and asks the reader to analyze them.
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Mr. R started a business with Rs. 100,000 cash. Various transactions occurred including purchasing goods on credit, selling goods for cash, receiving and paying cash for goods, withdrawing cash and goods for personal use, goods being destroyed or given as charity. The document lists 12 transactions and asks the reader to analyze them.
Copyright:
Attribution Non-Commercial (BY-NC)
Available Formats
Download as DOC, PDF, TXT or read online from Scribd
Q No. 1. Analyze the following transactions. 1. Mr. R started business with cash Rs. 100,000. 2. Purchased goods for Rs. 14000 on credit from Amjad. 3. Sold goods to Aslam for Rs. 9000. 4. Cash given to Amjad Rs. 13,800, and received discount Rs. 200. 5. Received cash from Aslam Rs. 8,800 in full settlement of account. 6. Purchased goods on credit from Naveed Rs. 30,000. 7. Goods returned to Naveed Rs. 1,000. 8. Withdrew cash for the payment of tuition fee of owner’s children Rs. 1,000. 9. Withdrew goods from business for personal use Rs. 1,500. 10. Goods destroyed in accident Rs. 12,000. 11. Goods given away as charity Rs. 5,000. 12. Cash given away as charity Rs. 1,000.
Al-Syed Institute Of Commerce
I. Com I (A, B) Principles of Accounting Q No. 1. Analyze the following transactions. 1. Mr. R started business with cash Rs. 100,000. 2. Purchased goods for Rs. 14000 on credit from Amjad. 3. Sold goods to Aslam for Rs. 9000. 4. Cash given to Amjad Rs. 13,800, and received discount Rs. 200. 5. Received cash from Aslam Rs. 8,800 in full settlement of account. 6. Purchased goods on credit from Naveed Rs. 30,000. 7. Goods returned to Naveed Rs. 1,000. 8. Withdrew cash for the payment of tuition fee of owner’s children Rs. 1,000. 9. Withdrew goods from business for personal use Rs. 1,500. 10. Goods destroyed in accident Rs. 12,000. 11. Goods given away as charity Rs. 5,000. 12. Cash given away as charity Rs. 1,000.
Al-Syed Institute Of Commerce
I. Com I (A, B) Principles of Accounting Q No. 1. Analyze the following transactions. 1. Mr. R started business with cash Rs. 100,000. 2. Purchased goods for Rs. 14000 on credit from Amjad. 3. Sold goods to Aslam for Rs. 9000. 4. Cash given to Amjad Rs. 13,800, and received discount Rs. 200. 5. Received cash from Aslam Rs. 8,800 in full settlement of account. 6. Purchased goods on credit from Naveed Rs. 30,000. 7. Goods returned to Naveed Rs. 1,000. 8. Withdrew cash for the payment of tuition fee of owner’s children Rs. 1,000. 9. Withdrew goods from business for personal use Rs. 1,500. 10. Goods destroyed in accident Rs. 12,000. 11. Goods given away as charity Rs. 5,000. 12. Cash given away as charity Rs. 1,000.