Accounting Equation Theory and Comprehensive Example
Amir (started, invested, commenced, began) his business with Cash
PRs. 500,000
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Amir purchased building for cash PRs. 150,000
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Amir bought goods/merchandises and paid cash PRs. 110,000
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Goods/merchandises worth PRs. 55,000 sold by Amir for cash PRs. 70,000
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Amir purchases goods from Umair for PRs. 25,000 on credit basis.
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Amir bought furniture PRs. 10,000 on credit basis.
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Amir sold goods on credit to Zubair PRs. 65,000 costing PRs. 40,000.
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Amir paid to Umair A/C Payable PRs. 24,000 against full settlement.
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Amir bought Land for PRs. 100,000 and Delivery Van PRs. 100,000 and
paid cash.
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Amir received cash from Zubair PRs. 64,000 in full settlement of PRs.
65,000.
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Amir opened a bank account and deposit PRs. 40,000
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Amir paid salary to his staff and issued cheque of PRs. 15,000.
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Amir deposited a cheque of PRs. 75,000 as rent received.
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Amir paid telephone bill PRs. 1,000.
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Paid electricity bill PRs. 4,000.
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Bought goods from Umair on credit PRs 60,000 and paid carriage PRs.
500
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Amir withdraw money from bank for personal use PRs. 50,000
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Sold goods costing 50,000 on cash 30,500 and on Credit 40,000
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Amir paid for petrol PRs. 2,000, office Stationery PRs. 1,000 and
Repair Vehicle PRs. 2,000.
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