BILAL SHER FINANCIAL ACCOUNTING L1F19BBAM0677

ASSIGNMENT 01

QUESTION: 01

RIAZ’S JOURNAL
Date Detail Debit Credit
Bank Account 550,000
1st November Capital Account 550,000
(started business with cash)
Cash Account 22,000
3rd November Yasin account 22,000
(Received loan from yasin)
purchases Account 46,200
rd
3 November Bilal Account 46,200
(Bought goods on credit)
Purchases Account 198,000
rd
3 November Waqas Account 198,000
(Bought goods on credit)
Cash Account 11,000
5th November Sales Account 11,000
(Sold goods for cash)
Bank Account 13,750
7th November Cash Account 13,750
(paid cash Into the bank)
Rafi Account 9,900
9th November Sales Account 9,900
(Sold goods on credit)
Azam Account 12,100
th
9 November Sales Account 12,100
(Sold goods on credit)
Purchases Account 20,350
TH
10 Bilal Account 20,350
November (Bought goods for Cash)
Sales Returned Account 2,200
11TH Rafi Account 2,200
November (Returned sold goods from rafi)
Amin Account 10,450
13TH Arif Account 17,600
November Sales Account 28,050
(Sold goods on credit to Amin and Arif)
Bilal Account 7,700
TH
14 Purchases return Account 7,700
November (Return Purchased goods to Bilal)
Motor Vehicle Account 143,000
16TH Falcon Motors Account 143,000
November (Bought motor vehicle on credit)
BILAL SHER FINANCIAL ACCOUNTING L1F19BBAM0677
ASSIGNMENT 01
Office Furniture Account 33,000
TH
17 Wood Worth Account 33,000
November (Bought office furniture on credit)
Waqas Account 6,050
19TH Purchases return Account 6,050
November (Return bought goods to Waqas)
Purchases Account 12,100
19TH Cash Account 12,100
November (Bought goods for cash)
Cash Account 3,850
23RD Sales Account 3,850
November (Being goods sold for cash)
Bilal Account 58,850
TH
24 Bank Account 58,850
November (Being paid amount by cheque)
Sales return Account 1,650
TH
24 Amin Account 1,650
November (being sold goods return by amin)
Wood Worth Account 8,800
25TH Purchase return Account 8,800
November (being bought goods return to Wood)
Cash Account 27,500
27TH Capital Account 27,500
November (being more investment in business)
Falcon motors Account 143,000
28TH Cash Account 143,000
November (being paid cash to falcon motors)
Office furniture Account 5,500
TH
30 Cash Account 5,500
November (Being bought furniture for cash)
BILAL SHER FINANCIAL ACCOUNTING L1F19BBAM0677
ASSIGNMENT 01

QUESTION: 02
TALHA’S JOURNAL
1ST March Cash Account 1,500
2007 Capital Account 1,500
(Started business with cash)
Purchases Account 296
Hassan Account 296
(Being bought goods on credit)
Rent Account 28
Cash Account 28
(Paid rent for cash)