Suggested solution lecture 10 homework questions

Solution homework Q.1 (3.15)

Capital Account
Debit Credit
1-Jan 50,000
Balancing figure 80,000 1-Jan 30,000
80,000 80,000

Bank Account
Debit Credit
1-Jan 50,000 3-Jan 30,000
Balancing figure 20,000
50,000 50,000

Cash Account
Debit Credit
1-Jan 30,000 7-Jan 500
19-Jan 700 21-Jan 1,415
29-Jan 210 31-Jan 5,000
31-Jan 1,000
31-Jan 500
31-Jan 1,500
Balancing figure 20,995
30,910 30,910

Van Account
Debit Credit
3-Jan 30,000 Balancing figure 30,000
30,000 30,000

Drawings Account
Debit Credit
7-Jan 500 Balancing figure 500
500 500

Purchases Account
Debit Credit
14-Jan 220
17-Jan 12,000 Balancing figure 12,220
12,220 12,220

A & Co. Creditor Account

Debit Credit
25-Jan 15 14-Jan 220
Balancing figure 205
220 220
 B & Co. Creditor Account
Debit Credit
21-Jan 1,415 17-Jan 12,000
Balancing figure 10,585
12,000 12,000

Sales Account
Debit Credit
17-Jan 3,400
17-Jan 7,200
17-Jan 5,400
18-Jan 60
Balancing figure 16,270 29-Jan 210
16,270 16,270

Mr. X debtor Account

Debit Credit
17-Jan 3,400 19-Jan 700
Balancing figure 2,700
3,400 3,400

Mr. Y Debtor Account

Debit Credit
17-Jan 7,200 Balancing figure 7,200
7,200 7,200

Mr. Z Debtor Account

Debit Credit
17-Jan 5,400 Balancing figure 5,400
5,400 5,400

Mr. A debtor Account

Debit Credit
18-Jan 60 Balancing figure 60
60 60

Purchase Return Account

Debit Credit
Balancing figure 15 25-Jan 15
15 15

Furniture Account
Debit Credit
31-Jan 5,000 Balancing figure 5,000
5,000 5,000

Rent Expense Account

Debit Credit
31-Jan 1,000 Balancing figure 1,000
1,000 1,000
 Electricity Expense Account
Debit Credit
31-Jan 500 Balancing figure 500
500 500

Salaries Expense Account

Debit Credit
31-Jan 1,500 Balancing figure 1,500
1,500 1,500

Solution homework Q.2 (3.16)

Capital Account
Debit Credit
Balancing figure 100,000 1-July 100,000
100,000 100,000

Bank Account
Debit Credit
- 10-Jul 11,500
1-July 100,000 20-Jul 15,000
26-Jul 20,000
Balancing figure 53,500
100,000 100,000

Purchases-Biscuits Account
Debit Credit
4-Jul 13,000 Balancing figure 13,000
13,000 13,000

Purchases-Shampoo Account
Debit Credit
7-Jul 11,000 Balancing figure 11,000
11,000 11,000

Purchases-Stationary Account
Debit Credit
8-Jul 10,000 Balancing figure 10,000
10,000 10,000

Trade creditors -Biscuits Account

Debit Credit
24-Jul 10,000 4-July 13,000
Balancing figure 3,000
13,000 13,000
 Trade creditors-Shampoo Account
Debit Credit
16-Jul 2,500 7-July 11,000
24-Jul 7,500
Balancing figure 1,000
11,000 11,000

Trade creditors-Stationary Account

Debit Credit
24-Jul 10,000 8-Jul 10,000
Balancing figure -
10,000 10,000

Furniture & fixture Account

Debit Credit
10-Jul 11,500 Balancing figure 11,500
11,500 11,500

Sales-Biscuits Account
Debit Credit
Balancing figure 14,000 11-July 14,000
14,000 14,000

Sales-Shampoo Account
Debit Credit
Balancing figure 14,500 13-Jul 14,500
14,500 14,500

Sales-Stationary Account
Debit Credit
Balancing figure 21,000 18-Jul 21,000
21,000 21,000

Cash Account
Debit Credit
11-Jul 14,000 24-Jul 10,000
18-Jul 21,000 24-Jul 7,500
24-Jul 10,000
28-Jul 1,200
30-Jul 2,500
Balancing figure 3,800
35,000 35,000

Mr. Ghafoor debtor Account

Debit Credit
13-Jul 14,500 22-Jul 1,000
Balancing figure 13,500
 14,500 14,500

Purchase return-Shampoo Account

Debit Credit
Balancing figure 2,500 16-Jul 2,500
2,500 2,500

Delivery Van Account

Debit Credit
20-Jul 15,000 Balancing figure 15,000
15,000 15,000

Sales return-Shampoo Account

Debit Credit
22-Jul 1,000 Balancing figure 1,000
1,000 1,000

Drawings Account
Debit Credit
26-Jul 20,000 Balancing figure 20,000
20,000 20,000
Electricity Expense Account
Debit Credit
28-Jul 1,200 Balancing figure 1,200
1,200 1,200

Rent Expense Account

Debit Credit
30-Jul 2,500 Balancing figure 2,500
2,500 2,500