User Account

All Pages

How journalize transactions in the books of huzaifa ammad

Assignment Help Accounting Basics
Reference no: EM132814109

Problem 1: Journalize the following transactions in the books of Huzaifa Ammad for the month of  March 2016 and Prepare Cash Account.

Mr. Huzaifa Ammad started business with cash Rs.100, 000 and Building Rs. 50,000. His other transaction were as follows.

1) Purchased Merchandise on credit Rs. 5,000.

2) Purchased Building for Rs. 50,000, paying Rs. 15,000 cash and incurring liability Rs, 35,000.

3) Sold Merchandise costing Rs. 5,000 for 8,000 on account.

4) Received cash against Accounts Receivable Rs. 5,000

5) Payment of creditors in full settlement of account Rs. 4,900.

6) Rs. 500 were privately used by Mr. Akbar.

7) Paid salary for the month of Rs. 500.

8) Services revenue due Rs. 50,000.

Reference no: EM132814109

Questions Cloud

Describe the genetic necessity for sickle-cell anemia : How can one describe the genetic necessity for sickle-cell anemia in Africa in the modern world?
How should the revision of depreciation be recorded : How should the revision of depreciation be recorded? Why? In the fourth year of an asset's 5-year useful life, the company decide that asset will have a 6 year
BUS 475 Business and Society Assignment : BUS 475 Business and Society Assignment Help and Solution - Strayer University, USA - Homework Help - Challenges in the Business Environment
What are the five main parts of a plant : 1. What are the five main parts of a plant and what are they used for?
How journalize transactions in the books of huzaifa ammad : Mr. Huzaifa Ammad started business with cash. Journalize the transactions in the books of Huzaifa Ammad for the month of March 2016 and Prepare Cash Account.
Prepare a schedule for cost of goods manufactured : Prepare a schedule for cost of goods manufactured Question (2): Calculate cost of goods sold - Based on your calculation in both (1) and (2), prepare
Membrane proteins can perform for a cell : List four functions that membrane proteins can perform for a cell.
Determine how much westene resort can loan : Determine how much Westene Resort can loan. Westene Resort has decided to purchase a building which can be renovated to a boutique hotel with 40 guest rooms
Explain the causes of earthquakes : Can you explain the causes of earthquakes? Can you explain what seismic waves tell us and how seismographs work?

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is economic fluctuation, aggregate demand and supply

What is economic fluctuation, aggregate demand and supply? cite two example for each one.

  What is the difference in net present values

What is the difference in net present values if Nautical Creations buys the new equipment instead of keeping their current equipment

  Create a capital investment plan proposal

For your Final Project, you will create a capital investment plan proposal utilizing the health care business you selected in Week One as well as the answers.

  Why does the tax law provide favorable treatment

The tax law provides very favorable tax treatment for long term capital gains. First, explain what that favorable treatment is. Second, why? Why does the tax law provide favorable treatment for long term capital gains? Do you agree that they shoul..

  Observations of commuter traffic

Have harsher penalties and ad campaigns increased seat-belt use among drivers and passengers? Observations of commuter traffic have failed to find evidence of a significant change compared with three years ago. Explain what the study's P-value of ..

  Find daisy monthly sales revenue needed for her business

Daisy Childs has decided to start an e-tail business which will sell doggie treat dispensers. Daisy's monthly sales revenue needed for her business

  What are the minimum and maximum cycle times

The longest task is 2.4 minutes, and the total time for all tasks is 18 minutes. What are the minimum and maximum cycle times

  Calculate Melaleuca Incs net income for this year

Three months' rent received on a leased building on November 1 of this year 9,000. Calculate Melaleuca, Inc.'s, net income for this year

  Prescribes that a company use the same accounting methods

1.the main difference in the sales journal under the perpetual and periodic inventory system is the column to record

  Five used vans would cost a total of 74300 to purchase and

tom loper is an accounting major at a midwestern state university located approximately 60 miles from a major city.

  Identify least two healthcare related managerial issues

Identify least two Healthcare related managerial issues related to your job role. Provide the proposed solutions and the policies for addressing the healthcare

  Prepare a federal gift tax return

Prepare a federal gift tax return (Form 709) based on the following information for Wanda Bickford. Use the 2013 Gift Tax forms. Bill agrees to gift split

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd