Mr. Taha started business with cash Rs. 2,835,000, machinery Rs. 75,000, Furniture Rs.25,000.

1. Deposited cash Rs. 140,000 into bank.

2. He bought merchandise for cash Rs. 8,000.
3. Bought furniture for Rs. 10,000.
4. Sold goods for cash Rs. 15,000.
5. Bought stationery for Rs. 1,000.
6. Purchased goods on account from Farooq and Co. Rs. 25,000.
7. Paid wages Rs. 3,000.
8. Merchandise sold to Salman on credit Rs. 35,000.
9. Cash paid to Farooq and Co. Rs. 18,000.
10. Cash received sfrom Salman Rs. 22,000.
11. Cash paid into bank Rs. 20,000.
12. Wages paid Rs. 5,000.
13. Balance paid to Farooq and Co. by cheque.
14. Cash received from Salman to settle his account.
15. Wages paid by cheque Rs. 10,000.
16. Purchase furniture on credit worth Rs. 15,000.
17. Purchase goods on cash Rs. 100,000.
18. Sold goods on cash Rs. 6,000.
19. Sold goods on credit Rs. 3000 to Mr. Ameen.
20. Received cash Rs.2, 850 from in full settlement of his account.
21. Purchase goods for cash Rs.25,000.
22. Purchase goods on credit from Raheem store worth Rs.20,000.
23. Sold goods for Rs.15,000.
24. Sold furniture worth Rs.5,000 on credit to Mr. Hamza.
25. Payment made to Raheem store through cheque Rs.20,000.
26. Cheque Received from Mr. Hamza for Rs.4,950 in full settlement of his account.
27. Goods taken away by Mr. Ali for his personal use Rs.3,000.
28. Purchase Computer for office use for Rs.6,000.
29. Paid Rent Rs.5,000 and salaries Rs.4,000.
30. Purchase goods from Ahmad & Co worth Rs.150,000.
31. Purchase machinery from Zia & Co for Rs. 50,000.
32. Purchase office equipment for Rs. 10,000.
33. Purchase a Motorcycle for office use worth Rs.30,000.
34. Paid cash to Zia & Co Rs.50,000.
35. Sold Goods to Mr. Anwar for Rs.50,000.
36. Paid Electricity bill Rs.5,000.
37. Purchase goods from Rashid Traders on credit Rs.20,000.
38. Goods sold to Mr. Waleed Rs.15,000.
39. Paid cash to Rashid Traders Rs.18,450 in full settlement of his account.
40. Cash received from Mr. Waleed Rs.14,760 in full settlement of his account.
41. Paid water charges Rs.5,000.
42. Paid Rent Rs.10,000.

43. Paid Salary Rs.15,000.

44. He purchased goods for cash Rs.3,500
45. He sold goods for cash Rs.2,700
46. He purchased goods from Hameed for Rs.4,500
47. He received commission Rs.3,000
48. He sold goods to Waseem of Rs.4,000
49. He withdraw cash Rs.1,800 from business for private use.
50. Returned goods from Waseem Rs.800
51. He paid rent Rs.3,300
52. He returned goods to Hameed for Rs.1,000
53. Good Purchased from Kashif of Rs.3,000 and from Mohsin of Rs.5,000.
54. Sold goods to Akhtar of Rs.7,000 and to Asif of Rs.5,000.
55. Received cash Rs.2,000 from Waqas; Discount allowed Rs.20.
56. Paid cash to Aaqib Rs.1,095; Received discount Rs.10.
57. Paid salary to Accountant Rs.2,800.
58. Returned goods to Kashif of Rs.200 and to Mohsin of Rs.1,000.
59. Returned goods by Akhtar Rs.300 and by Asif of Rs.800.
60. Purchased goods from Atif on account Rs.5,500
61. Purchased Building from Lahore Builders for Rs.80,000
62. Sold goods on account worth Rs.6,000 to Salman.
63. Bought Almirah for office worth Rs.8,800
64. Sold goods to Irfan worth Rs.50,000 at list price less 2% trade discount 5% cash discount.
65. Paid telephone bill Rs.1,800
66. Drew cash for household expenses by proprietor Rs.2,200
67. Irfan makes payment of 70% of the amount due availing the proportionate cash discount.
68. Purchased typewriter for Rs.3,500
69. Paid commission Rs.2,000; Rent Rs.1500; salaries Rs.500
70. Purchased Goods on cash 2,000
71. Purchased Office Furniture for cash 3,000

72.
73.
74.
75.
76.
77.
78.
79.
80.
81.
82.
83.
84.

Bought Goods from Yasir 4,500

Cash Sales 10,000
Sold Goods to Qasim 4,000
Received cash from Qasim & Discount allowed 3,800
Paid cash to Yasir & discount received 4,250
Purchased a Motor lorry 20,000
Goods taken away be the proprietor for personal use 3,000
Gave away goods as charity 1,000
Personal expenses of the owner 2,000
Purchased an Iron Safe & Almirah 5,000
Paid Rent 2,000
Paid Commission 2,500
Paid Motor Repair Expense Rs. 1,000

85. Purchased goods on cash Rs.3,000

86. Purchased office typewriter for Rs.5,000
87. Purchased goods from Akhtar worth Rs.11,000
88. Paid to Akhtar on account Rs.10,000
89. Cash sales Rs.18,000
90. Sold goods to Jamshed Rs.7,000
91. Received cash from Jamshed Rs.6,700, discount Rs.300.
92. Paid cash to Shahbaz Rs.2,000; discount Rs.50
93. Goods taken away by owner for personal use Rs.3,500
94. Goods given away as charity Rs.4,000
95. Purchased an Almirah for office Rs.6,000
96. Paid Rent Rs.4,000; paid salaries Rs.3,000; paid commission Rs.1,000
REQUIRED:
1. Prepare Accounting of the following transactions.
2. Make the analysis of the transactions with respect to rules of debit &
credit.
3. Make the journal entries, legers and trail balances.
4. Prepare the Income statement, Changes in owners equity and
Balance sheet
5. Prepare the work sheet.