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  • 08-Journal Entries

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    Goffi
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    This document provides journal entries for various business transactions of Anees' business from April 1-30. It records Anees starting the business with Rs. 100,000 cash. It also records purchases of furniture and goods for cash and credit as well as sales to customers for cash and credit. Finally, it records payment of expenses and receipt of payment from customers.

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    This document provides journal entries for various business transactions of Anees' business from April 1-30. It records Anees starting the business with Rs. 100,000 cash. It also records purchases of furniture and goods for cash and credit as well as sales to customers for cash and credit. Finally, it records payment of expenses and receipt of payment from customers.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    10 views2 pages

    08-Journal Entries

    Uploaded by

    Goffi
    This document provides journal entries for various business transactions of Anees' business from April 1-30. It records Anees starting the business with Rs. 100,000 cash. It also records purchases of furniture and goods for cash and credit as well as sales to customers for cash and credit. Finally, it records payment of expenses and receipt of payment from customers.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 2

    1

    LECTURE – 08

    JOURNAL ENTRIES

    Practical question
    Record the following transactions in Journal.

    2016
    April 01: Anees started business with Rs. 100,000.
    April 02: Purchase Furniture for Cash Rs. 7,000.
    April 03: Purchase Goods for Cash Rs. 2,000 and for Credit Rs. 1,000 from Khalid Retail Store.
    April 14: Sold Goods to Khan Brothers Rs. 12,000 and Cash Sales Rs. 5,000.
    April 18: Owner withdrew of worth Rs. 2,000 for personal use.
    April 22: Paid Khalid Retail Store Rs. 500.
    April 26: Received Rs. 10,000 from Khan Brothers.
    April 30: Paid Salaries Expense Rs. 2,000

    Jamshaid Iftikhar
    M.Phil Commerce & Finance
    2

    Jamshaid Iftikhar
    M.Phil Commerce & Finance

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