Journal entries

Problem-1

Leonel Messi Enterprise has made the following transactions for the month of January
2014

Jan 1 Messi invested 10,00,000 Taka cash in his business

Jan 5 purchased a piece of land for 1,00,000 Taka cash

Jan 10 purchased office furniture for 10,000 Taka on credit

Jan 12 paid 5000 Taka cash for advertising

Jan 15 sold goods of 10,000 Taka to Neymar Enterprise on credit

Jan 20 received the balance due on Jan 15

Jan 22 purchased goods from Ronaldo Ltd on account for 15,000 Taka

Jan 28 paid the creditors on balance owed

Jan 30 withdrawal made by the owner for an amount of 50,000 Taka

Required: Prepare journal entries on the books of Messi Enterprise

Problem-2

Bekham Tiles enterprise made the following transactions for the month of June,2014

June 1 invested 5,00,000 Taka cash 1,00,000 Taka machinery and 50,000 Taka equipment
in the business

June 7 deposited 10,000 Taka in AB bank Ltd

June 13 hired an office manager

June 15 purchased Tiles from Forlan Incorporation for 10,000 Taka of which 50% is cash
and rest is on credit

June 20 paid Forlan Incorporation for the balance due on June 15

June 25 Paid office rent for 5000 Taka

June 30 received interest for an amount of 100 Taka from AB Bank ltd
June 30 paid salaries of 50,000 Taka

June 30 paid insurance premium of 1000 Taka

Required: make necessary journal entries on the books of BeKham Tiles enterprise

Problem-3

Roger Federer Tennis Mart made the following transactions during the month of
April,2014

April 1Federer invested 500,000 Taka cash in his business

April 4 purchased equipment costing 30,000 Taka for cash

April 8 incurred advertising expense of 1500 Taka on account

April 12 paid 2000 Taka cash for a one-year insurance policy

April 17 withdrew goods of 1000 Taka for personal use

April 20 purchased tennis balls of 20,000 Taka on account from Andy Murray Tennis
enterprise

April 25 sold 50 tennis balls on account to Nadal Corporation for 200 Taka each.

April 28 received 5 tennis balls from Nadal Corporation for defective units

April 30 paid Andy Murray Tennis enterprise

April 30 paid salaries to employees 50000 Taka

Required: make necessary journal entries on the books of Roger Federer Tennis Mart