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Published date Dec 24, 2018

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27-10-2014 (Financial Accounting 1st semester BBA)

27-10-2014

 

  Q. 2 Mr. Ali

  1. Started business with cash 84,000
  2. He purchased goods for cash 13,000
  3. He purchased furniture costing 2000
  4. He sold goods for cash 3000 costing 1800
  5. He paid salaries 1200

M/S Mr. Ali

Assets = Liabilities + Capital

Assets

Liabilities

Capital

Cash + Goods + Furniture

Creditor + Bank Loan

Cash

Goods

furniture

 

 

84,000

 

 

 

 

 

 

84,000

84,000

-13,000

71,000

13,000

 

 

 

 

 

84,000

71,000

-2000

69,000S

 

2000

 

 

 

 

 

69,000

+3000

13,000

-1800

 

 

 

 

 

84,000

+1200

72,000

11,200

 

 

 

 

 

85,200

72,000

-1200

70,800

11,200

2000

 

 

 

 

85,200

-1200

84,000

70,800+11,200+2000

 

0+84,000

84,000

84,000

 

Q.3 Mr. Naveed

  1. Started business with goods 20,000 and cash 55,000
  2. He purchased goods on amount for rupees 15,000
  3. Cash of rupees 10,000 deposited to the bank
  4. Paid cash to supplier of the goods 10,000
  5. Paid telephone by cheque rupees 2000

M/S Mr. Naveed

Assets = Liabilities + Capital

Assets

Liabilities

Capital

Cash + Goods + Bank

Creditor + Bank Loan

Cash

Goods

bank

 

 

55,000

20,000

 

 

 

 

 

75,000

 

20,000
+15,000

35,000

 

 

 

15,000

 

 

55,000

-10,000

45,000

 

10,000

 

 

 

 

 

45,000

-10,000

35,000

 

 

 

 

15,000

-10,000

5000

 

75,000

35,000

35,000

 

10,000

-2000

 

 

5000

 

75,000

-2000

73,000

33,000+35,000+8,000

 

5000+73000

78,000

78,000

 

Q.4 Mr. Sulman

  1. Started with cash business rupees 100,000
  2. Purchased furnisher for cash 4000
  3. Purchased goods for cash 25,000
  4. Sold goods for cash 15,000 costing 11,000
  5. Sold goods to Rashid on credit rupees 8000 costing 6500
  6. Received cash from Rashid rupees 4000
  7. Cash paid to creditor 9000
  8. Paid rent and salaries rupees 4000

M/S Mr. Salman

Assets = Liabilities + Capital

Assets

Liabilities

Capital

Cash + Furniture + Goods + Debtor

Creditor + Bank Loan

Cash

Furniture

Goods

Debtor

 

100,000

 

 

 

 

 

 

100,000

100,000

-4000

96,000

4000

 

 

 

 

 

 

96,000

-25,000

71,000

 

25,000

 

 

 

 

 

71,000

+15,000

86,000

 

25,000

-11,000

14,000

 

 

 

 

100,000

+4000

104,000

 

 

14,000

+15,000

29,000

 

 

15,000

 

104,000

 

 

29,000

-6500

22,500

8000

 

 

 

104,000

+1500

105,500

86,000

+4000

90,000

 

 

 

 

 

 

105,500

+4000

109,500

90,000

-9000

81,000

 

 

 

 

15,000

-9000

6000

 

 

81,000

-4000

77,000

 

 

 

 

 

 

109,500

-4000

105,500

77,000+4000+22,500+8000

6000+105,500

111,500

111,500                                        

 

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