A Case Study

Miraj Computers & Mobile (a wholesale/Distribution business)

5
On 1
st
January2012, Mr. Umer
started business with Cash Rs.
5,000,000. On 2
nd
January he
opened an account with Habib
an! and deposited Rs. 5,000,000.
On "
th
January he bou#ht a shop $or the business Rs.
1,000,000 and issued a chec!. On 5
th
January he bou#ht the
$o%%owin# assets&
'urniture ( 'i)ture Rs. 200,000
O$$ice *+uipments Rs. ,0,000
On -
th
January he paid Rs. 100,000 'or Mar!etin# *)penses.
On ,
th
January he bou#ht the $o%%owin# #oods $or resa%e purposes&
(a) Mobile
Supplier Model/Specification Price (s!) "ty
.ony *ricson /1 01hite "0000 20
Motoro%a Moto 34%ac! 12000 25
3 Mobi%e 5oir 6,504%ac! 12000 20
(b) Computer
Supplier Model/Specification Price (s!) "ty
7e%% 8nspiron25214%ac! 9:aptop 25000 20
.ony ;aio 'it415'4%ac! 50000 20
H< <a=i%ion4>-4rown "5000 15
On the same date amount paid to a%% =endors on the same date e)cept .ony a#ainst purchase o$
:aptops. 50? amount paid to .ony.
@ota% .a%e o$ the month is as $o%%ow&
Date Customer Product Price (s!) "ty
A.01.201" Usman Mobi%e Moto 34%ac! 15000 15
B.01.201" @an=eer Computers 8nspiron25214%ac! 9:aptop "0000 20
10.01.201" Hassan Mobi%es 5oir 6,504%ac! 15000 25
12.01.201" My Computers ;aio 'it415'4%ac! 55000 10
12.01.201" @he est Mobi%e /1 01hite "5000 1A
15.01.201" utt Computers <a=i%ion4>-4rown 50000 10
6mount recei=ed $rom a%% customers.
On 2
nd
'ebruary he paid the $o%%owin#
*)penses&
.a%ary to .a%es .ta$$ Rs. 50000
Uti%ity i%%s Rs. "0000
@ra=e%in# *)penses Rs. 10000
Re+uired&
1. Open Customer, ;endor and 8n=entory 6ccount
2. Ma!e the Courna% entries
2. .how the :ed#er, @ria% a%ance o$ each account
". .how 8ncome .tatement and a%ance .heet