Financial Accounting and AnalysisTU Board 2081
Following are the transaction of a company: a. Started business with cash Rs.1,000,000. b. Deposited into bank Rs.300,000 c. Paid rent in advance Rs.52,000 d. Sold merchandise goods for Rs.400,000…
15Following are the transaction of a company: a. Started business with cash Rs.1,000,000. b. Deposited into bank Rs.300,000 c. Paid rent in advance Rs.52,000 d. Sold merchandise goods for Rs.400,000 on account. e. Purchased merchandise goods for Rs.200,000 on account f. Pre paid insurance paid Rs.12,000 g. Received Rs.380,000 after deduction of 5% discount from the customers. h. Paid Rs.190,000 in full settlement by cheque. i. Paid electricity bill Rs.8,000. j. Paid office salary Rs.36,000 by issuing cheque. Additional Information a) Unsold stock recorded at Rs.20,000. b) Salary remain unpaid Rs.4,000. c) Insurance premium expired Rs.8,000 Required: a. Journal entries for above transactions [6] b. T accounts (ledger) for accounts receivable and accounts payable [2] c. Triple column cash book [4] d. Adjusted Trial balance [3]
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