oc 21 Kapoor Software Limited eo alc suppers on account, &1. 30. Paid dividend, &1,100. i 8 to record the transact Frepare journal entie to record the tantacton inthe general jour as 21,120. Record the differen: inter the July 31 balances in the appropriate accounts, Write Belarc sateen ater the Jay 81 bal propriate accounts, Write Balance in the capananion Post the journal entries to the ledger. Prepare the August statement of profit and loss, statement » Propare the A D ons, statement of retained earnings, and ‘The inventory ae After working for over a decade in a leading software company, Vinay and Sheela Kapoor decided to set up their own software firm, Kapoor Software Ltd. on June 1. Each of them deposited 30,000 in the company’s bank account in exchange for 3,000 shares of 10 cach ‘Amit Lal, an old friend of the Kapoors, joined the company as office manager on a mon salary of 27,000, no matter how many days he showed up at work. Amit paid into the ban! all customer receipts and made all payments by cheque. Although Amit had no knowledge of ‘accounting, he carefully filed the company's letters, invoices and other papers. Also, he noted down details of cheques received and issued in his diary. The following information is available from Amit’s file and diary. dune 1: = Borrowed 225,000 from Canara Bank. = Sheela ordered a computer costing €40,000.~~ chapter2 Proce 100 *80€ Tonto Sune 2 ly rental of £2500 payable on the fae. Hida fice rm ona monthly Hy be oo sin pa She rent for June * fone ct *» Viny appnted two programmers aye they worked June 6 ‘The balance amount is payable in + Rocsved the computer and paid £15,000, The baa eine eau [fates onthe it of eery oath bering Jy + Ordered on Gupta & Co supple for 7300, ta Sel apa cre a ies oi i a led : Saeed sty tom he pte itn eo, Sera a en tnt arr of BO Per yeah res, hero June 18 "Received cheques for €14,10 fom customers in payment of bil, ne 20 * Hale invoices on custamers for £19,400 for providing services, se 28 * esived chaque for T9800 from a customer as payment for servis to be pide in duly * Recrved cheques fr 87100 in payment of bil June 28 1 ins? asked me to opay the bank lan. I paid £14,000 ofthe loan with intrest of £40 Sune 90: Sort month the company had 21 woking days. One ofthe aasstante rep be Toe a okine day and the ctor worked for only Vo dage Teeth he oe 1 Be ventory of supplies is worth about €2 00 ected the Jone electesiy bil fr 480, bt could not pay i July 1 Paid office rent fr duly, ‘Paid the dune electric bit uly 3 * Received the remaining suppliea, aly 4 * Paid for the suppie, uly id the fst Required 1 Prepare the June fnanc 2 The Kaper prone il lements of Kapor Sofware Ld on thit Propo MPM 0 py theme denen Pare Comment ‘instalment forthe computer