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5. Record the following transactions in Tally Prime Date Amount (in R0) 2021 Jan 1 Cash A/C 11,000 Machinery A/C Bank A/C 50,000 32,500 12,500 (Cr) 15,000 (Dr) Areej Products Company National Packaging Factory A/C Capital A/C Purchased goods and paid by cheque Purchased goods from Oman Chemical Industries Jan 2 7,500 Jan 31 12,500 Feb 1 Cash Sales 20,000 Feb 2 Sold goods to Taageer Services and offered 10% trade discount 15,000 Purchased goods from Raysut Industries Company and received 5% trade discount Mar 1 8,000 Mar 2 Cash withdrawn from bank by proprietor for personal 1,200 use Mar 31 Sold Machinery worth of RO 3500 for RO 3,250 Apr 1 Goods returned to Oman Chemical Industries 1,500 Apr 2 May 1 Мay 2 Мaу 31 Paid to Areej Products Company in full settlement Goods returned by Taageer Services Paid carriage on purchases 12,000 1,000 200 Withdrew from bank for office use 1,500 June 1 Brought additional capital into business Received cash from National Packaging Factory Purchased Equipment from Oman International LLC Paid Insurance on Office Building 40,000 6,000 11,500 June 2 July 1 July 2 1,350 July 31 Aug 1 Aug 2 Paid for fuel and Power 850 Cash taken by proprietor for personal use Sold goods to L&T Industries and offered 10% cash 2,000 16,000 discount Goods distributed as free samples Aug Sep 1 Sep 2 ,500 Deposited into Bank Received cash from National Packaging Factory in full 15,000 8,750 settlement Oct 1 Received interest 150 Oct 2 Oct 31 Paid Electricity charges by cheque Paid Salaries and Wages 1,100 2,500

5. Record the following transactions in Tally Prime Date Amount (in R0) 2021 Jan 1 Cash A/C 11,000 Machinery A/C Bank A/C 50,000 32,500 12,500 (Cr) 15,000 (Dr) Areej Products Company National Packaging Factory A/C Capital A/C Purchased goods and paid by cheque Purchased goods from Oman Chemical Industries Jan 2 7,500 Jan 31 12,500 Feb 1 Cash Sales 20,000 Feb 2 Sold goods to Taageer Services and offered 10% trade discount 15,000 Purchased goods from Raysut Industries Company and received 5% trade discount Mar 1 8,000 Mar 2 Cash withdrawn from bank by proprietor for personal 1,200 use Mar 31 Sold Machinery worth of RO 3500 for RO 3,250 Apr 1 Goods returned to Oman Chemical Industries 1,500 Apr 2 May 1 Мay 2 Мaу 31 Paid to Areej Products Company in full settlement Goods returned by Taageer Services Paid carriage on purchases 12,000 1,000 200 Withdrew from bank for office use 1,500 June 1 Brought additional capital into business Received cash from National Packaging Factory Purchased Equipment from Oman International LLC Paid Insurance on Office Building 40,000 6,000 11,500 June 2 July 1 July 2 1,350 July 31 Aug 1 Aug 2 Paid for fuel and Power 850 Cash taken by proprietor for personal use Sold goods to L&T Industries and offered 10% cash 2,000 16,000 discount Goods distributed as free samples Aug Sep 1 Sep 2 ,500 Deposited into Bank Received cash from National Packaging Factory in full 15,000 8,750 settlement Oct 1 Received interest 150 Oct 2 Oct 31 Paid Electricity charges by cheque Paid Salaries and Wages 1,100 2,500

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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5. Record the following transactions in Tally Prime Date Amount (in RO) 2021 Cash A/C Machinery A/C Bank A/C Jan 1 11,000 50,000 32,500 12,500 (Cr) 15,000 (Dr) Areej Products Company National Packaging Factory A/C Capital A/C Purchased goods and paid by cheque ? Jan 2 7,500 Jan 31 Purchased goods from Oman Chemical Industries 12,500 Feb 1 Cash Sales 20,000 Feb 2 Sold goods to Taageer Services and offered 10% trade 15,000 discount Mar 1 Purchased goods from Raysut Industries Company and 8,000 received 5% trade discount Mar 2 Cash withdrawn from bank by proprietor for personal 1,200 use Mar 31 Sold Machinery worth of RO 3500 for RO 3,250 Apr 1 Apr 2 Goods returned to Oman Chemical Industries 1,500 12,000 Paid to Areej Products Company in full settlement Мay 1 Goods returned by Taageer Services 1,000 May 2 Paid carriage on purchases 200 May 31 Withdrew from bank for office use 1,500 Brought additional capital into business Received cash from National Packaging Factory Purchased Equipment from Oman International LLC Paid Insurance on Office Building Paid for fuel and Power June 1 40,000 June 2 6,000 July 1 July 2 11,500 1,350 July 31 850 Aug 1 Aug 2 Cash taken by proprietor for personal use Sold goods to L&T Industries and offered 10% cash 2,000 16,000 discount Aug 31 Sep 1 Sep 2 Goods distributed as free samples 2,500 Deposited into Bank Received cash from National Packaging Factory in full 15,000 8,750 settlement Oct 1 Received interest 150 Paid Electricity charges by cheque Paid Salaries and Wages Oct 2 1,100 Oct 31 2,500
Transcribed Image Text:5. Record the following transactions in Tally Prime Date Amount (in RO) 2021 Cash A/C Machinery A/C Bank A/C Jan 1 11,000 50,000 32,500 12,500 (Cr) 15,000 (Dr) Areej Products Company National Packaging Factory A/C Capital A/C Purchased goods and paid by cheque ? Jan 2 7,500 Jan 31 Purchased goods from Oman Chemical Industries 12,500 Feb 1 Cash Sales 20,000 Feb 2 Sold goods to Taageer Services and offered 10% trade 15,000 discount Mar 1 Purchased goods from Raysut Industries Company and 8,000 received 5% trade discount Mar 2 Cash withdrawn from bank by proprietor for personal 1,200 use Mar 31 Sold Machinery worth of RO 3500 for RO 3,250 Apr 1 Apr 2 Goods returned to Oman Chemical Industries 1,500 12,000 Paid to Areej Products Company in full settlement Мay 1 Goods returned by Taageer Services 1,000 May 2 Paid carriage on purchases 200 May 31 Withdrew from bank for office use 1,500 Brought additional capital into business Received cash from National Packaging Factory Purchased Equipment from Oman International LLC Paid Insurance on Office Building Paid for fuel and Power June 1 40,000 June 2 6,000 July 1 July 2 11,500 1,350 July 31 850 Aug 1 Aug 2 Cash taken by proprietor for personal use Sold goods to L&T Industries and offered 10% cash 2,000 16,000 discount Aug 31 Sep 1 Sep 2 Goods distributed as free samples 2,500 Deposited into Bank Received cash from National Packaging Factory in full 15,000 8,750 settlement Oct 1 Received interest 150 Paid Electricity charges by cheque Paid Salaries and Wages Oct 2 1,100 Oct 31 2,500
Date Name of the Account Name of the Account Type of Voucher 2021 Dr Cr Jan 2 Jan 31 Feb 1 Feb 2 Mar 1 Mar 2 Mar 31 Apr 1 Apr 2 May 1 Мay 2 May 31 June 1 June 2 July 1 July 2 July 31 Aug 1 Aug 2 Aug 31 Sep 1 Sep 2 Oct 1 Oct 2 Oct 31 48
Transcribed Image Text:Date Name of the Account Name of the Account Type of Voucher 2021 Dr Cr Jan 2 Jan 31 Feb 1 Feb 2 Mar 1 Mar 2 Mar 31 Apr 1 Apr 2 May 1 Мay 2 May 31 June 1 June 2 July 1 July 2 July 31 Aug 1 Aug 2 Aug 31 Sep 1 Sep 2 Oct 1 Oct 2 Oct 31 48
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