Following are the transaction a consultant agency during the month of Baishakh: Baishakh 1: Collected Rs. 1,000,000 from owners of the agency in…
BBS Financial Accounting and Analysis · 2079 · Solved Question with Answer
Following are the transaction a consultant agency during the month of Baishakh:
Baishakh 1: Collected Rs. 1,000,000 from owners of the agency in exchange of shares.
Baishakh 2: Deposited into bank Rs. 800,000
Baishakh 5: Paid 3 month's rent in advance Rs. 30,000
Baishakh 8: Purchased office equipment for Rs. 100,000 and paid 20% of cash and balance through cheque.
Baishakh 10: Billed to customers for service provided Rs. 200,000
Baishakh 12: Purchased office supplies Rs. 45,000
Baishakh 14: Received Rs. 190,000 after deduction of 5% discount from the customers billed on Baishakh 10
Baishakh 20: Paid Rs. 10,000 to the advertising company.
Baishakh 25: Paid electricity bill of Rs. 2,000.
Baishakh 30: Paid office salary Rs. 50,000 by issuing cheques.
Required:
a. Journal Entries for the above transactions
b. Triple Column Cash book
c. Cash, Bank, Accounts Receivable and Account Payable Account
d. Trial Balance