Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. record the following transactions in cash book of

Record the following transactions in cash book of Aslam Traders. Also calculate the balalance on...

60.1K

Verified Solution

Question

Accounting

Record the following transactions in cash book of Aslam Traders. Also calculate the balalance on 15 Jan 2020: Balances as on 1 Jan 2020: Cash at Bank: Rs. 500,000, Cash in Hand: Rs. 200,000 1 Jan Sold goods on cash Rs. 20000 1 Ian Paid Salaries through a cheque Rs. 50000 2 Jan Purchased a motor-cycle for Rs. 20000 through a cheque 3 Jan Paid wages in cash Rs. 2000 4 Jan Sold goods on cash Rs. 10000, 2% cash discount was allowed 5 Jan Issued a cheque to Asim Traders Rs. 9500 after deducting 5% cash discount 6 Jan Sold goods in cash Rs. 10000 7 Jan Deposited cash in bank account Rs. 15000 8 Jan Purchased goods in cash Rs. 5000, received 2% cash discount 9 Jan Paid maintenance in cash Rs. 1500 10 Jan Purchased goods Rs. 10000, payment was made through a cheque 11 Jan Received a cheque Rs. 19600 from Ahmed traders net of 4% cash discount 12 Jan Cash withdrawn from bank account Rs. 15000 13 Jan Sold goods Rs. 20000, payment was received through a cheque 14 Jan Purchased stationary in cash Rs. 5000 15 Jan Sold goods in cash Rs. 10000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students