NCBA&E – Accounting Assignment 1

Following information is available of EYE incorporation For the first month of operation

  1. Started business with cash Rs. 135,000.
  2. bought goods on credit from AHMAD Rs. 26,640.
  3. Paid rent by cash Rs. 2,520.
  4. Paid Rs. 90,000 of the cash into bank account.
  5. Sold goods on credit to ELAHI Rs. 4,860.
  6. Bought stationery Rs. 1,350 paying by cheque.
  7. Cash sales Rs. 4,410.
  8. Goods returned by us to AHMAD Rs. 1,530.
  9. Sold goods on credit to MASOOD Rs. 2,610.
  10. Paid for repairs to the building by cash Rs. 1,620.
  11. ELAHI returned goods to us Rs. 1,260.
  12. Paid AHMAD by cheque Rs. 25,110.
  13. Cash purchases Rs. 11,250.
  14. Bought a motor vehicle paying by cheque Rs. 35,550.
  15. Paid motor expenses in cash Rs. 1,350.
  16. Bought fixtures of Rs. 10,800 on credit from OSAMA.

Required:

  • Pass journal Entries, prepare General Ledger and find out the carried down balances of each account.

Note:

  • You are required to fill the form below and attach your assignment in soft copy in .doc/.docx format as well as submit a hard copy by Thursday, February 28, 2013. NO Assignment will be accepted after the aforementioned date due to any reason whatsoever.

Full name and ID must be mentioned in the assignment submitted

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Posted by on Feb 22 2013. Filed under Assignments. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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