Cash Book test

Academy of Excellence Pakistan Chowk Campus XI Commerce Q1:

Test of Accounting Mr Maaz Started business on November 1, 2014 in the name of M/S Maaz Computers investing cash Rs 50,000 and Furniture Rs 3000. He further completed the following transactions in the month November.

Nov

2, Purchased goods on cash Rs 5000 3, Sold goods to Mr Ahsan Rs 7000 4, Opened a bank account with HBL with a deposit of Rs 5000. 5, Sold goods to Mr Asad for Rs 17000 and received cash Rs 15000 6, Purchased a piece of land for Rs 15000 by paying Rs 5000 by cash and remaining on account. 8, Purchased goods for Rs 20,000 from Mr Saad 10,Received Rs 1800 from Mr Asad for Full settlement of his account. 12,Purchased goods from Mr Ubaid for Rs 12000 and paid Rs 5000 to him. 16,Received Rs 6500 from Mr Ahsan in full settlement and deposited 5000 in the bank. 19,Settled Mr Saad’s account by issuing cheque for all the bank balance and paid cash Rs 9000 20,Deposited Rs 2000 in Bank. 25,Maaz Withdrew Cash Rs 5000 for personal use. 30,Paid to Mr Ubaid Cash Rs 6000 in full settlement. Required:

Record the Following Transaction in Three Column Cash Book (10) Prepared by: Muhammad Asad Ali MBA (Finance), MA (Economics), (C.A)