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Mohan has starts his Shop,during the …

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Mohan has starts his Shop,during the first month following events that take place. I. Mohan start business with cash Rs. 50,000, goods Rs. 10,000 and furniture Rs. 1,000. II. Purchased goods for cash Rs. 30,000 III. Purchased goods on credit Rs. 20,000 IV. Sold goods (cost Rs. 10,000) for Rs. 12,000 V. Bought furniture on credit Rs. 2,000 VI. Paid cash to a creditor Rs. 15,000 VII. Sold goods to Sohan costing Rs. 1,500 for Rs. 1,800 VIII. Purchased household goods for Rs. 15,000, giving Rs. 5,000 in cash and balance through a loan. Required: a) Analyze the transactions a) Show the effect on accounting equation. b) Record the transactions in journal entries c) Post the journal entries d) Prepares unadjusted trial balance.

Posted by Muntaha Wahab 4 years, 3 months ago

ICSE & ISC > Class 12 > Accountancy

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