From the following information, pass necessary journal entries in the books of Mr. X for August, 2021 1. Introduced capital in the form of Cash-Tk. 50,000.00,Furniture-Tk. 9,000.00, Supplies-Tk. 3,500.00 and depositing Tk. 6,000.00 in Bank. 2. Purchase Tk. 40,000.00 3. Purchased from M/S Karim Tk. 90,000.00, terms being 2/5, net 25 4. Cash Sales Tk. 49,000.00 5. Sold to M/S Rahman Tk. 50,000.00 Terms 3/10, net 30 6. Paid M/S Karim within discounting period 7. Payment received from M/S Karim within discounting period 8. Cash purchase Tk. 45,000.00 inclusive of Tk. 4,000.00 for Mr X 9. Cash drawn from Bank Tk. 2,000.00 10. Monthly wages Tk. 12,000.00, paid wages Tk 15,000.00 11. Yearly Insurance premium paid Tk. 18,000.00 12. Monthly rent payable Tk. 30,000.00, paid 25,000.00

From the following information, pass necessary journal entries in the books of Mr. X for August, 2021 1. Introduced capital in the form of Cash-Tk. 50,000.00,Furniture-Tk. 9,000.00, Supplies-Tk. 3,500.00 and depositing Tk. 6,000.00 in Bank. 2. Purchase Tk. 40,000.00 3. Purchased from M/S Karim Tk. 90,000.00, terms being 2/5, net 25 4. Cash Sales Tk. 49,000.00 5. Sold to M/S Rahman Tk. 50,000.00 Terms 3/10, net 30 6. Paid M/S Karim within discounting period 7. Payment received from M/S Karim within discounting period 8. Cash purchase Tk. 45,000.00 inclusive of Tk. 4,000.00 for Mr X 9. Cash drawn from Bank Tk. 2,000.00 10. Monthly wages Tk. 12,000.00, paid wages Tk 15,000.00 11. Yearly Insurance premium paid Tk. 18,000.00 12. Monthly rent payable Tk. 30,000.00, paid 25,000.00

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter6: Investing And Financing Activities

Section: Chapter Questions

Problem 2.7C

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