Transactions relating to Goods Transactions related to Assets

2018 2018
Mar 01 Owner started business with cash $7 000, Bank $8 000 Jan 01 Started business with cash $30 000, bank $20 000
Mar 01 Purchased goods for cash $5 000 (cash purchases) Jan 02 Purchased furniture for cash $8 000
Mar 02 Purchased goods on credit from David $3 000 Jan 02 Purchased a vehicle for $10 000, 4/5 was settled by cheque and
Mar 02 Sold goods for cash to Ahmad $2 000 remainder paid in cash.
Mar 03 Sold goods on credit to Kashif $ 1 500 Jan 03 Bought building on credit from XY & Co. $10 000
Mar 04 Goods returned to David $400 Jan 03 Purchased vehicles costing $18 000 from ABC motors, one third
Mar 05 Goods returned from Kashif $ 300 of the payment was made as down payment.
Mar 06 Kashif returned goods to us $100 Jan 04 Sold furniture & payment received by cheque $3 000
Mar 06 Goods taken away by the owner for his personal use $400 Jan 06 A van of $2 000 withdrawn by the owner for his personal use.
Mar 07 Goods lost by fire/theft costing $600 Jan 06 Sold van on credit for $5 500 to Ali and received $1 500 on spot.

Transactions relating to Owner Transactions relating to Incomes and Expenses

2018 2018
Sept 01 Owner started business with cash 4000, building 8000 Bank 6000 July 01 Received rent by cash $2 600
Sept 02 Furniture costing $5 000 purchased for the business and paid July 02 Paid insurance by cheque $300
from the owner’s personal bank account. July 02 Paid wages $400
Sept 03 Cash withdrawn by the owner for his personal use $100 July 04 Received interest by cheque $300
Sept 04 A table purchased for business purposes for $500 taken away by July 05 Interest paid for June 2018 on loan of $12 000 taken at 8% p.a.
the owner for his private use. July 06 Rent paid for building for May and June 2018 @ $400 p.a.
Sept 05 Owner paid a business loan of $1 000 from his personal bank a/c. July 06 Commission received of $300 on providing services for Mr. B
Sept 06 A business customer Martin paid $500 by transferring the July 07 Rented a building for $600 p.a. on 1st June 2018, & receipt of 1st
amount directly to the owner’s personal account. month’s rent by cheque
Sept 07 Owner paid a trade payable $800 from his personal bank a/c. July 07 Rent paid for owner’s house $250

Miscellaneous Transactions Transactions relating to Liabilities

2018 2018
Aug 01 Owner started business with Bank $15 000 out of which $8 000 Sept 01 Owner started business with cash $10 000 out of which $4 000
was Withdrawn for office use. was deposited into the bank
Aug 01 Purchased Building for $20 000 from XYZ & Co. one fourth was Sept 01 Borrowed a loan from bank of $30 000
paid immediately by cheque. Sept 02 Received $20 000 from Mr. X as loan to be paid after two years
Aug 02 Order received from Mr. Marshall for sale of goods of $500 Sept 03 Lent $10 000 to Mr. C
Aug 03 Life insurance of owner paid $400 Sept 04 Repaid part of the loan taken from bank $5 000
Aug 04 Cash withdrawn from the bank for office use $600 Sept 05 Received $4 000 from Mr. C as part payment of the loan
Aug 04 Cash withdrawn from the bank for owner’s personal use $700 Sept 06 Received a cheque from Mr. C in full settlement of the loan