starboy3506

11.05.2021 • 

Business

Journalise the following transactions and post them into Ledger and prepare the Trial Balance for Fatmatu Enterprise: 2020

September 1 Started business with $ 50,000, out of which pad into Bank $. 20,000.

September 2 Bought furniture for $. 5,000 and machinery for $. 10,000.

September 3 Purchased goods for $. 14,000.

September 6 Sold goods for $. 8,000.

September 8 Purchased goods from Malhotra and Co. $.11,000.

September 10 Paid telephone rent for the year by cheque $.500.

September 11 Bought one typewriter for $. 2,100 from Universal Typewriter Co. on credit.

September 15 Sold goods to Keshav Ram for $. 12,000.

September 17 Sold goods to Rajesh Kumar for $. 2,000 for cash.

September 19 Amount withdrawn from bank for personal use $. 1,500.

September 21 Received cash from Keshav Ram $. 11,900, discount allowed $.100.

September 22 Paid into bank $. 5,800.

September 23 Bought 50 shares in X Y and Co. Ltd at $. 60 per share, brokerage paid $. 20.

September 25 Goods worth $. 1,000 found defective were returned to Malhotra and Co. and the balance of the amount due to them settled by issuing a cheque in their favour.

September 28 Sold 20 shares of X Y and Co. Ltd. at $. 65 per share, brokerage paid $. 20.

September 28 Brought goods worth $. 2,100 from Ramesh and supplied them to Suresh at $. 3,000.

September 30 Suresh returned goods worth $. 100, which in turn were sent to Ramesh.

September 30 Issued a cheque for $. 1,000 in favour of the landlord for rent for September.

September 30 Paid salaries to staff $. 1,500 and received from travelling salesman

September 30 $. 2,000 for goods sold by him, after deducting the travelling expenses $. 100.

September 30 Paid for: Charity $. 101 Stationary $. 450 Postage $. 249​

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GalleTF

21.01.2023

Business

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