P#8 of S#26

*From the following information, prepare the account current to be rendered by Mr. white to Mr. Black as on 31 August, 2017. the interest must be calculate @ 10% P.A

2017 Description Amount

5-Jun-2019 Goods sent to Black $ 1,020

15-Jun-2019 Cash Received from Black $ 500

20-Jun-2019 Goods sent to Black $ 650

5-Jul-2019 Goods sent to Black $ 700

10-Jul-2019 Cash Received from Black $ 1,100

Table of Interest
Mr. Black
31-Aug-2019

Date Description Due Date Days Amount Interest Date Description Due Date No. Days Amount Interest

5-Jun-2019 Goods sent to Black 5-Jun-2019 87 $ 1,020 $ 24.31 15-Jun-2019 Cash Received from Black 15-Jun-2019 77 $ 500 $ 10.55

20-Jun-2019 Goods sent to Black 20-Jun-2019 72 $ 650 $ 12.82 10-Jul-2019 Cash Received from Black 10-Jul-2019 52 $ 1,100 $ 15.67

5-Jul-2019 Goods sent to Black 5-Jul-2019 57 $ 700 $ 10.93

C/B $ 770 $ 21.85

TOTAL $ 2,370 $ 48.07 $ 2,370 $ 48.07

Mr. Black have to pay 770.00 USD as principle amount and 21.85 USD as interest, the total amount 791.85 USD

DATE Account Name Debit Credit

31-Aug-2019
Account Payable $ 770.00
Interest Expense $ 21.85
Cash $ 791.85

Means of Product Mr. Black

31-Aug-2019

Date Description Due Date Days Amount Product Date Description Due Date No. Days Amount Product

5-Jun-2019 Goods sent to Black 5-Jun-2019 87 $ 1,020 $ 88,740.00 15-Jun-2019 Cash Received from Black 15-Jun-2019 77 $ 500 $ 38,500.00

20-Jun-2019 Goods sent to Black 20-Jun-2019 72 $ 650 $ 46,800.00 10-Jul-2019 Cash Received from Black 10-Jul-2019 52 $ 1,100 $ 57,200.00

5-Jul-2019 Goods sent to Black 5-Jul-2019 57 $ 700 $ 39,900.00

C/B $ 770 $ 79,740.00

TOTAL $ 2,370 $ 175,440.00 $ 2,370 $ 175,440.00

Mr. Black have to pay 770.00 USD as principle amount and 21.85 USD as interest, the total amount 791.85 USD

DATE Account Name Debit Credit

31-Aug-2019
Account Payable $ 770.00
Interest Expense $ 21.85
Cash $ 791.85

Means of Product of Balances Mr. Black

31-Aug-2019

Date Description Dr. Cr. Balance Due Date No. Days Dr. Product Cr. Product

5-Jun-2019 Goods sent to Black $ 1,020 $ 1,020 5-Jun-2019 87 $ 88,740

20-Jun-2019 Goods sent to Black $ 650 $ 1,670 20-Jun-2019 72 $ 46,800

5-Jul-2019 Goods sent to Black $ 700 $ 2,370 5-Jul-2019 57 $ 39,900

15-Jun-2019 Cash Received from Black $ 500 $ 1,870 15-Jun-2019 77 $ 38,500

10-Jul-2019 Cash Received from Black $ 1,100 $ 770 10-Jul-2019 52 $ 57,200

C/B $ 79,740

$ 175,440 $ 175,440

Mr. Black have to pay 770.00 USD as principle amount and 21.85 USD as interest, the total amount 791.85 USD

DATE Account Name Debit Credit

31-Aug-2019
Account Payable $ 770.00
Interest Expense $ 21.85
Cash $ 791.85
 P#9 of S#27
*On 1st January, 2011 Ahmad opened a current account with the Alfalah Bank Limited; and deposited a sum of 30,000. He further deposited the following amounts
*Show Ahmad’s a/c in the ledger of the Alfalah Bank. Interest is to be calculated at 5% on the debit balance and 2% on credit balance. The account to be prepared as on 30th June, 2011.Calculation may be made correct to
the nearest Afghani.

Date Description Amount

01-Jan-2011 Deposit $ 30,000
15-Jan-2011 Deposit $ 12,000
15-Feb-2011 Withdraw $ 26,000
15-Mar-2011 Deposit $ 8,000
10-Apr-2011 Withdraw $ 30,000
10-May-2011 Deposit $ 16,000
15-Jun-2011 Withdraw $ 14,000

Alfalah Bank
Table of Interest
Mr. Ahmad
30-Jun-2011

Date Description Due Date Days Amount Interest Date Description Due Date No. Days Amount Interest

1-Jan-2011 Deposit 1-Jan-2011 180 $ 30,000 $ 739.73 15-Feb-2011 Withdraw 15-Feb-2011 135 $ 26,000 $ 480.82

15-Jan-2011 Deposit 15-Jan-2011 166 $ 12,000 $ 272.88 10-Apr-2011 Withdraw 10-Apr-2011 81 $ 30,000 $ 332.88

15-Mar-2011 Deposit 15-Mar-2011 107 $ 8,000 $ 117.26 15-Jun-2011 Withdraw 15-Jun-2011 15 $ 14,000 $ 28.77

10-May-2011 Deposit 10-Apr-2011 51 $ 16,000 $ 111.78

C/B $ 4,000 C/B $ 399.18

TOTAL $ 70,000 $ 1,241.64 $ 70,000 $ 1,241.64

Mr. Ahmad have to paid 4000.00 USD as principle amount and 399.18 USD as interest, the total amount 4399.18 USD

DATE Account Name Debit Credit

30-Jun-2011
Account Payable $ 4,000.00
Interest Expense $ 399.18
Cash $ 4,399.18

Alfalah Bank
Means of Product
Mr. Ahmad
30-Jun-2011

Date Description Due Date Days Amount Product Date Description Due Date No. Days Amount Product

1-Jan-2011 Deposit 1-Jan-2011 180 $ 30,000 $ 5,400,000.00 15-Feb-2011 Withdraw 15-Feb-2011 135 $ 26,000 $ 3,510,000.00

15-Jan-2011 Deposit 15-Jan-2011 166 $ 12,000 $ 1,992,000.00 10-Apr-2011 Withdraw 10-Apr-2011 81 $ 30,000 $ 2,430,000.00

15-Mar-2011 Deposit 15-Mar-2011 107 $ 8,000 $ 856,000.00 15-Jun-2011 Withdraw 15-Jun-2011 15 $ 14,000 $ 210,000.00

10-May-2011 Deposit 10-Apr-2011 51 $ 16,000 $ 816,000.00

C/B $ 4,000 C/B $ 2,914,000.00

TOTAL $ 70,000 $ 9,064,000.00 $ 70,000 $ 9,064,000.00

Mr. Ahmad have to paid 4000.00 USD as principle amount and 399.18 USD as interest, the total amount 4399.18 USD

DATE Account Name Debit Credit

30-Jun-2011
Account Payable $ 4,000.00
Interest Expense $ 399.18
Cash $ 4,399.18

Alfalah Bank
Means of Product of Balances
Mr. Ahmad
30-Jun-2011

Date Description Dr. Cr. Balance Due Date No. Days Dr. Product Cr. Product

1-Jan-2011 Deposit $ 30,000 $ 30,000 1-Jan-2011 180 $ 5,400,000

15-Jan-2011 Deposit $ 12,000 $ 42,000 15-Jan-2011 166 $ 1,992,000

15-Mar-2011 Deposit $ 8,000 $ 38,000 15-Mar-2011 107 $ 856,000

10-May-2011 Deposit $ 16,000 $ 58,000 10-May-2011 51 $ 816,000

15-Feb-2011 Withdraw $ 26,000 $ 32,000 15-Feb-2011 135 $ 3,510,000

10-Apr-2011 Withdraw $ 30,000 $ 28,000 10-Apr-2011 81 $ 2,430,000

15-Jun-2011 Withdraw $ 14,000 $ 18,000 15-Jun-2011 15 $ 210,000

C/B $ 2,914,000

$ 9,064,000 $ 9,064,000

Mr. Black have to pay 770.00 USD as principle amount and 21.85 USD as interest, the total amount 791.85 USD

DATE Account Name Debit Credit

30-Jun-2011
Account Payable $ 4,000.00
Interest Expense $ 399.18
Cash $ 4,399.18
 P#10 S#28
*Mr. M owed 3,000 on 1st January, 2017 to Mr. S. the following are the transaction that took place between them during 2017. it is agreed between the parties that interest @6% p.a. is to be calculated on all transactions:
They desire to settle their accounts by one single payment on 31st march, 2017. ascertain the amount to be paid to the nearest amount.

Date Description Amount

01-Jan-2017 Mr. M owed to Mr. S. $ 3,000
15-Jan-2017 Mr. S sold goods to Mr. M $ 2,000
20-Jan-2017 Mr. S purchases goods from $ 1,500
Mr. M
20-Feb-2017 Mr. S paid cash $ 1,500
Mr. S purchases goods to Mr.
15-Mar-2017 $ 2,000
M

Table of Interest
Mr. S
31-Mar-2017

Date Description Due Date Days Amount Interest Date Description Due Date No. Days Amount Interest

15-Jan-2017 Mr. S sold goods to Mr. M 15-Jan-2017 75 $ 2,000 $ 24.66 1-Jan-2017 Mr. M owed to Mr. S. 1-Jan-2017 89 $ 3,000 $ 43.89

20-Feb-2017 Mr. S paid cash 20-Feb-2017 39 $ 1,500 $ 9.62 20-Jan-2017 Mr. S purchases goods from Mr. M 20-Jan-2017 70 $ 1,500 $ 17.26

Mr. S paid cash 30-Dec-1899 42825 $ 1,500 $ 10,559.59 15-Mar-2017 Mr. S purchases goods to Mr. M 15-Mar-2017 16 $ 2,000 $ 5.26

C/B $ 1,500 $ (10,527.45) C/B

TOTAL $ 6,500 $ 66.41 $ 6,500 $ 66.41

Mr. S have to paid 1500.00 USD as principle amount and 22.52 USD as interest, the total amount 1522.52 USD

DATE Account Name Debit Credit

31-Mar-2017
Account Payable $ 1,500.00
Interest Expense $ (10,527.45)
Cash $ (9,027.45)

Means of Product
Mr. S
31-Mar-2017

Date Description Due Date Days Amount Product Date Description Due Date No. Days Amount Product

15-Jan-2017 Mr. S sold goods to Mr. M 15-Jan-2017 75 $ 2,000 $ 150,000.00 1-Jan-2017 Mr. M owed to Mr. S. 1-Jan-2017 89 $ 3,000 $ 267,000.00

20-Feb-2017 Mr. S paid cash 20-Feb-2017 39 $ 1,500 $ 58,500.00 20-Jan-2017 Mr. S purchases goods from Mr. M 20-Jan-2017 70 $ 1,500 $ 105,000.00

20-Feb-2017 Mr. S paid cash 20-Feb-2017 39 $ 1,500 $ 58,500.00 15-Mar-2017 Mr. S purchases goods to Mr. M 15-Mar-2017 16 $ 2,000 $ 32,000.00

C/B $ 1,500 $ 137,000.00 C/B

TOTAL $ 6,500 $ 404,000.00 $ 6,500 $ 404,000.00

Mr. S have to paid 1500.00 USD as principle amount and 22.52 USD as interest, the total amount 1522.52 USD

DATE Account Name Debit Credit

31-Mar-2017
Account Payable $ 1,500.00
Interest Expense $ 22.52
Cash $ 1,522.52

Means of Product of Balances

Mr. S
31-Mar-2017

Date Description Dr. Cr. Balance Due Date No. Days Dr. Product Cr. Product

15-Jan-2017 Mr. S sold goods to Mr. M $ 2,000 $ 2,000 15-Jan-2017 75 $ 150,000

20-Feb-2017 Mr. S paid cash $ 1,500 $ 3,500 20-Feb-2017 39 $ 58,500

20-Feb-2017 Mr. S paid cash $ 1,500 $ 3,500 20-Feb-2017 39 $ 58,500

1-Jan-2017 Mr. M owed to Mr. S. $ 3,000 $ 3,500 1-Jan-2017 89 $ 267,000

20-Jan-2017 Mr. S purchases goods from Mr. M $ 1,500 $ 2,000 20-Jan-2017 70 $ 105,000

15-Mar-2017 Mr. S purchases goods to Mr. M $ 2,000 $ 1,500 15-Mar-2017 16 $ 32,000

C/B $ 137,000

$ 404,000 $ 404,000

Mr. S have to paid 1500.00 USD as principle amount and 22.52 USD as interest, the total amount 1522.52 USD

DATE Account Name Debit Credit

31-Mar-2017
Account Payable $ 1,500.00
Interest Expense $ 22.52
Cash $ 1,522.52