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Transaction for The Month of April

1-Apr

1-Apr
1-Apr
1-Apr
1-Apr
1-Apr
1-Apr
1-Apr
1-Apr
1-Apr
3-Apr
3-Apr
3-Apr
3-Apr
3-Apr
3-Apr
4-Apr
4-Apr
4-Apr
4-Apr
4-Apr
4-Apr
4-Apr
4-Apr
4-Apr
5-Apr
5-Apr
5-Apr
6-Apr
6-Apr
7-Apr
7-Apr
8-Apr
8-Apr
8-Apr
9-Apr
10-Apr
10-Apr
10-Apr
11-Apr
13-Apr
17-Apr
20-Apr
20-Apr
25-Apr
25-Apr
25-Apr
25-Apr
25-Apr
Transaction for The Month of April

Rs 10,000,000 is invested to start a business from which 60% is invested by owner and 40% is
loan collected from bank @ 15%.
purchase car (lancer 1) of Rs 800000 on account from shewani motors
purchase car (lancer 2) of Rs 800000 on account from Road Masters
purchase car (corolla 1) of Rs 800000 on account from TCM
purchase car (corolla 2) of Rs 800000 on account from TSM
purchase car (corolla 3) of Rs 800000 on account from Indus
purchase car (corolla 4) of Rs 800000 on from Shani Motors
purchase car (corolla 5) of Rs 800000 on from Agha motors
purchase car (corolla 6) of Rs 800000 on from Gulam motors
Rs 2000 is paid for Patrol refilling of Corolla 4
purchase car (Cultus 1) of Rs 600000 on from Margalla motors
purchase car (Cultus 2) of Rs 600000 on from Sana motors
purchase car (Cultus 3) of Rs 600000 on from Danish motors
purchase car (Cultus 4) of Rs 600000 on from Carachi motors
purchase refrigarator for office use of Rs 25000 from Zaheer Electronics
Rs 1200 is paid for Patrol refilling of Corolla 5
purchase furniture for office use of Rs 18000 from Zahid Furnitures.
Purchase Office Equipments of Rs 50000 from ALA Sons.
Engine oil purchased for Rs 15000
paid rent of office Rs 30000
paid salaries to employees Rs 64000
pay cash of Rs 9000 to Dandi Ad Agency.
purchase stationary for office use of Rs 1500
Rs 2000 is paid for Patrol refilling of Corolla 6
Rs 32000 is recievable from PSO for the services rendered.
Received Cash of Rs 12000 from Mr. Mohib for the services.
Received Cash of Rs 20000 from Mr. Athar Iqbal for the services.
refreshment for customer of Rs 400
Received Cash of Rs 30000 from Mr. Khalid for the services .
Rs 2000 is paid for Patrol refilling of Corolla 4
Rs 30000 is recievable from Shell Gas for the services rendered.
utility bills are paid of Rs 21600
Received Cash of Rs 36000 from Ms. Ghazala for the services.
Rs 2000 is paid for Patrol refilling of Cultus 3
Rs 30000 is recievable from GFG for the services rendered.
Received Cash of Rs 30000 from Mr. Shahid for the services.
Rs 34000 is recievable from I.U. for the services rendered.
cash received from GFG of Rs 18000
cash received from Shell Gas of Rs 18000
Rs 35000 is recievable from TCS for the services rendered.
cash received from TCS of Rs 21000
cash received from I.U. of Rs 20400
refreshment for customer of Rs 350
cash received from PSO of Rs 19200
paid Rs 80000 to Shewani motors.
paid Rs 80000 to road masters
paid Rs 80000 to TCM
paid Rs 80000 to TSM
paid Rs 80000 to Indus Motors

Adjustments:
intrest expense of 15% p.a. for this month is not paid yet of Rs 50000
dep. Expense is charged on lancer 1 @ 10%
dep. Expense is charged on lancer 2 @ 10%
dep. Expense is charged on Corolla 1 @ 10%
dep. Expense is charged on Corolla 2 @ 10%
dep. Expense is charged on Corolla 3 @ 10%
dep. Expense is charged on Corolla 4 @ 10%
dep. Expense is charged on Corolla 5 @ 10%
dep. Expense is charged on Corolla 6 @ 10%
dep. Expense is charged on Cultus 1 @ 10%
dep. Expense is charged on Cultus 2 @ 10%
dep. Expense is charged on Cultus 3 @ 10%
dep. Expense is charged on Cultus 4 @ 10%
dep. Expense is charged on refrigerator @ 6%
dep. Expense is charged on Furniture @ 6%
dep. Expense is charged on Office Equipment @ 6%
Date Description Debit

1-Apr Cash 10,000,000


Capital- Owner
Loan Payable

1-Apr Purchase lancer 1 - shewani motors 800,000


Purchase lancer 2 - road masters 800,000
purchase corolla 1 - TCM 800,000
purchase corolla 2 - TSM 800,000
purchase corolla 3 - Indus Motors 800,000
A/P - shewani motors
A/P - road masters
A/P - TCM
A/P - TSM
A/P - Indus Motors

1-Apr Purchase corolla 4 - Shani Motors 800,000


Purchase corolla 5 - Agha Motors 800,000
Purchase corolla 6 - Ghulam Motors 800,000
Fuel Expense 2,000
Cash

3-Apr purchase cultus 1 - Margalla Motors 600,000


purchase cultus 2 - Sana Motors 600,000
purchase cultus 3 - Danish Motors 600,000
purchase cultus 4 - Carachi Motors 600,000
purchase refrigerator - Zaheer Electronics 25,000
Fuel Expense 1,200
cash

4-Apr Purchase Furniture - Zahid Furnitures 18,000


purchase office equipments- ALA Sons 50,000
Maintenance Expense 15,000
Rent Expense 30,000
Salaries Expense 64,000
Advertizment Expense 9,000
Stationary Expense 1,500
Fuel expense 2,000
Cash

4-Apr A/R - PSO 32,000


Service Revenue
Date Description Debit
5-Apr Cash - Mr. Mohib 12,000
Cash - Mr. Ather Iqbal 20,000
Miscellinoius Expense 400
Cash
Service Revenue

6-Apr Cash - Mr. Khalid 30,000


fuel expense 2,000
Cash
Service Revenue

7-Apr A/R - Shell Gas 30,000


Utility Expenses 21,600
Service Revenue
Cash

8-Apr Cash - Ms. Ghazala 36,000


fuel expenses 2,000
A/R - GFG 30,000
Service revenue
Cash

9-Apr Cash - Mr. Shahid 30,000


Service Revenue

10-Apr A/R - I.U. 34,000


Cash - GFG 18,000
Cash - Shell Gas 18,000
A/R - GFG
A/R - Shell Gas
Service Revenue

11-Apr A/R - TCS 35,000


Service Revenue

13-Apr cash - TCS 21,000


A/R - TCS

17-Apr cash - I.U. 20,400


A/R - I.U.

20-Apr Miscellenious Expense 350


Cash - PSO 19,200
Cash
A/R - PSO

Date Description Debit


25-Apr A/P - shewani motors 80,000
A/P - road masters 80,000
A/P - TCM 80,000
A/P - TSM 80,000
A/P - Indus Motors 80,000
Cash

30-Apr Intrest Expense 50,000


Depriciation Expense - Vehicles @ 10% p.a. 73,333
Depriciation Expense - Other @ 6% p.a. 465
Intrest Payable
Allowance for depriciation
Credit

6,000,000
4,000,000

800,000
800,000
800,000
800,000
800,000

2,402,000

2,426,200

189,500

32,000
Credit

400
32,000

2,000
30,000

30,000
21,600

66,000
2,000

30,000

18,000
18,000
34,000

35,000

21,000

20,400
350
19,200

Credit

400,000

50,000
73,798
Cash
Debit Credit
1-Apr 10,000,000 1-Apr 2,402,000
5-Apr 12,000 3-Apr 2,426,200
5-Apr 20,000 4-Apr 189,500
6-Apr 30,000 5-Apr 400
8-Apr 36,000 6-Apr 2,000
9-Apr 30,000 7-Apr 21,600
10-Apr 18,000 8-Apr 2,000
10-Apr 18,000 20-Apr 350
13-Apr 21,000 25-Apr 400,000
17-Apr 20,400
20-Apr 19,200 30-Apr c/d 4,780,550
10,224,600 10,224,600
1-May b/d 4,780,550

Capital- Owner
Debit Credit
30-Apr c/d 6,000,000 1-Apr 6,000,000

6,000,000 6,000,000
1-May b/d 6,000,000

Purchases
Debit Credit
1-Apr 6,400,000 30-Apr c/d 8,893,000
3-Apr 2,425,000
4-Apr 68,000

8,893,000 8,893,000
1-May b/d 8,893,000

Loan Payable
Debit Credit
30-Apr c/d 4,000,000 1-Apr 4,000,000

4,000,000 4,000,000
1-May b/d 4,000,000
A/P - Shiwani Motors
Debit Credit
25-Apr 80,000 1-Apr 800,000

30-Apr c/d 720,000


800,000 800,000
1-May b/d 720,000

A/P - TCM
Debit Credit
25-Apr 80,000 1-Apr 800,000

30-Apr c/d 720,000


800,000 800,000
1-May b/d 720,000

A/P - Road Masters


Debit Credit
25-Apr 80,000 1-Apr 800,000

30-Apr c/d 720,000


800,000 800,000
1-May b/d 720,000

A/P - TSM
Debit Credit
25-Apr 80,000 1-Apr 800,000

30-Apr c/d 720,000


800,000 800,000
1-May b/d 720,000

A/P - INDUS Motors


Debit Credit
25-Apr 80,000 1-Apr 800,000

30-Apr c/d 720,000


800,000 800,000
1-May b/d 720,000
Rent Expense
Debit Credit
4-Apr 30,000 30-Apr c/d 30,000

30,000 30,000
1-May b/d 30,000

Fuel Expense
Debit Credit
1-Apr 2,000 30-Apr c/d 9,200
3-Apr 1,200
4-Apr 2,000
6-Apr 2,000
8-Apr 2,000
9,200 9,200
1-May b/d 9,200

Salaries Expense
Debit Credit
4-Apr 64,000 30-Apr c/d 64,000

64,000 64,000
1-May b/d 64,000

Advertisment Expense
Debit Credit
4-Apr 9,000 30-Apr c/d 9,000

9,000 9,000
1-May b/d 9,000

Stationary Expense
Debit Credit
4-Apr 1,500 30-Apr c/d 1,500

1,500 1,500
1-May b/d 1,500
Miscillinious Expense
Debit Credit
5-Apr 400 30-Apr c/d 750
20-Apr 350
750 750
1-May b/d 750

Utility Expense
Debit Credit
7-Apr 21,600 30-Apr c/d 21,600

21,600 21,600
1-May b/d 21,600

Maintenance Expense
Debit Credit
4-Apr 15,000 30-Apr c/d 15,000

15,000 15,000
1-May b/d 15,000

Interest Expense
Debit Credit
30-Apr 50,000 30-Apr c/d 50,000

50,000 50,000
1-May b/d 50,000

Depriciation Expense - Vehicles


Debit Credit
30-Apr 73,333 30-Apr c/d 73,333

73,333 73,333
1-May b/d 73,333

Depriciation Expense - Other


Debit Credit
30-Apr 465 30-Apr c/d 465

465 465
1-May b/d 465

Interest Payable
Debit Credit
30-Apr c/d 50,000 30-Apr 50,000

50,000 50,000
1-May b/d 50,000

A/R - PSO
Debit Credit
4-Apr 32,000 20-Apr 19,200

30-Apr c/d 12,800


32,000 32,000
1-May b/d 12,800

A/R - Shell Gas


Debit Credit
7-Apr 30,000 10-Apr 18,000

30-Apr c/d 12,000


30,000 30,000
1-May b/d 12,000

A/R - GFG
Debit Credit
8-Apr 30,000 10-Apr 18,000

30-Apr c/d 12,000


30,000 30,000
1-May b/d 12,000

A/R - I.U.
Debit Credit
10-Apr 34,000 17-Apr 20,400

30-Apr c/d 13,600


34,000 34,000
1-May b/d 13,600

A/R - TCS
Debit Credit
11-Apr 35,000 13-Apr 21,000

30-Apr c/d 14,000


35,000 35,000
1-May b/d 14,000

Service Revenue
Debit Credit
30-Apr c/d 289,000 4-Apr 32,000
5-Apr 32,000
6-Apr 30,000
7-Apr 30,000
8-Apr 66,000
9-Apr 30,000
10-Apr 34,000
11-Apr 35,000

289,000 289,000
1-May b/d 289,000

Allowance for Depriciation


Debit Credit
30-Apr c/d 73,798 30-Apr 73,798

73,798 73,798
1-May b/d 73,798
Trial Balance
For The Month ended April 30

S.No A/C Title Debit


1 Cash 4,780,550
2 Capital- Owner
3 Purchases 8,893,000
4 Loan Payable
5 A/P - Shiwani Motors
6 A/P - TCM
7 A/P - Road Masters
8 A/P - TSM
9 A/P - INDUS Motors
10 Rent Expense 30,000
11 Fuel Expense 9,200
12 Salaries Expense 64,000
13 Advertisment Expense 9,000
14 Stationary Expense 1,500
15 Miscillinious Expense 750
16 Utility Expense 21,600
17 Maintenance Expense 15,000
18 Interest Expense 50,000
19 Depriciation Expense - Vehicles 73,333
20 Depriciation Expense - Other 465
21 Interest Payable
22 A/R - PSO 12,800
23 A/R - Shell Gas 12,000
24 A/R - GFG 12,000
25 A/R - I.U. 13,600
26 A/R - TCS 14,000
27 Service Revenue
28 Allowance for depriciation

14,012,798
e
d April 30

Credit

6,000,000

4,000,000
720,000
720,000
720,000
720,000
720,000

50,000

289,000
73,798

14,012,798
INCOME STATEMENT
For the month ended April 30, 2008

Rs
Revenue:
Service Revenue 289,000

Expenses:
Rent Expense 30,000
Fuel Expense 9,200
Salaries Expense 64,000
Advertisment Expense 9,000
Stationary Expense 1,500
Miscillinious Expense 750
Utility Expense 21,600
Maintenance Expense 15,000
Interest Expense 50,000
Depriciation Expense - Vehicles 73,333
Depriciation Expense - Other 465
274,848

Profit 14,152
Balance Sheet
As at April 30, 2008
Assets Equities
Current Assets: Current Liabilities:
cash 4,780,550 A/P - Shiwani Motors 720,000
A/R - PSO 12,800 A/P - TCM 720,000
A/R - Shell Gas 12,000 A/P - Road Masters 720,000
A/R - GFG 12,000 A/P - TSM 720,000
A/R - I.U. 13,600 A/P - INDUS Motors 720,000
A/R - TCS 14,000 Loan Payable 4,000,000
Interest Payable 50,000
Total 4,844,950 Total liabilities 7,650,000

Fixed Assets: Owners Equity:


Purchases 8,893,000 Capital 6,000,000
Allow for Dep. (73,798) Net Profit 14,152
8,819,202 6,014,152

Total Assets 13,664,152 13,664,152