Question - Journalize the transactions

Assignment Help Accounting Basics
Reference no: EM132637875

Question - Journalize the following transactions.

On April 01, 2019 Anees started business with Rs. 100,000 and other transactions for the month are:

2. Purchase Furniture for Cash Rs. 7,000.

8. Purchase Goods for Cash Rs. 2,000 and for Credit Rs. 1,000 from Khalid Retail Store.

14. Sold Goods to Khan Brothers Rs. 12,000 and Cash Sales Rs. 5,000.

18. Owner withdrew of worth Rs. 2,000 for personal use.

22. Paid Khalid Retail Store Rs. 500.

26. Received Rs. 10,000 from Khan Brothers.

30. Paid Salaries Expense Rs. 2,000

 

Reference no: EM132637875

Questions Cloud

Describe an offering based on features of ownership : Describe an offering based on features, benefits, price, and costs of ownership. Suggest marketing strategy implications based on the type of consumer
Find dollar amount implied by the futures quoted price : Based on the two T-bills's discount rates, what should be the quoted equilibrium price of an 80-day T-bill futures contract? Assume $1,000,000 face value
Who might be some of the users of governmental : Who might be some of the users of governmental and not-for-profit entity accounting information? Also, what purpose might these users need
Explain the disadvantages of union representation : Create an 8- to 10-slide PowerPoint presentation, excluding the title page and the reference page, outlining the advantages and disadvantages of union represent
Question - Journalize the transactions : Question - Journalize the following transactions. 8. Purchase Goods for Cash Rs. 2,000 and for Credit Rs. 1,000 from Khalid Retail Store
Focus on transformational leadership : This journal articles focus on transformational leadership and knowledge and knowledge sharing within an organization,
Compare your thoughts on designing a social media policy : Respond (discussion post) Compare your thoughts on designing a social media policy. Provide constructive feedback to your peers for improving their analyses.
Financial projections for the first year of operations : You are considering starting a walk-in clinic. Your financial projections for the first year of operations are as follows:
Software engineering tools for soft computing : Software engineering tools for soft computing: MATLAB, R Tool and DTREG. Comparison should focus on how they are able to model neural networks.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Discuss the disadvantages of partnership form of business

State any circumstances that would warrant deviation from this policy. Discuss the disadvantages of the partnership form of business ownership.

  Sales revenue account on the post-closing trial balance

If the new clerk in the accounting department insists on including the sales revenue account on the post-closing trial balance, would you agree? Why, or why not?

  Determine cost of merchandise sold

Assume one unit is sold on October 31 for $28.  Determine cost of merchandise sold, gross profit, and ending inventory under the FIFO method.

  Why is the eps number so popular

Why is the EPS number so popular? What are its limitations?

  Describe the type offormer employer processes and correlates

Describe the type of data your current or former employer processes and correlates for us how those data are transformed into information

  Using the service method calculate the amount

Using the straight-line method, calculate the amount of prior service cost to be amortized to pension expense in each of the next 10 years.

  Discuss what are some possible reasons for the consistency

What are some possible reasons for the consistency in the percentage complete estimates produced by the two production lines

  Following transactions relate to its short term investments

Harris Company, which began operations in 2013, invests its idle cash in trading securities. The following transactions relate to its short  term investments in its trading securities.

  How much would the company contribution margin increase

This product is normally sold for $48 per unit. If Swisher increases its production to 50,000 units, while sales remain at the current 30,000 unit level.

  Compute the net income for the current year

Presented below are changes in the account balances of Wenn Compnay during the year, Compute the net income for the current year

  Analyze the concept of resource scheduling

For this assignment, write a paper of 750-1,000 words in which you analyze the concept of resource scheduling and evaluating various methods used to schedule.

  How many units were produced during the year

No selling expenses were incurred this year. Racine sold 25,000 units during the year. How many units were produced during the year

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!

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