Q.2. Journalese the following transactions in the books of ALL QUBBA (6 Marks) 3

Question

Q.2. Journalese the following transactions in the books of ALL QUBBA (6 Marks) 3N May Cash deposited into bank 60,000 4" May Loan given to Mr. Ali 20,000 4 May : Paid cash to Hamed 20,000 5 May Paid to Hamed by cheque 15,000 5 May : Cash received from Mr.Ali 12,000 $th May Took loan from Ammed 15,000 6 May : Cheque received from Ammed 15,000 6" May Paid to Intel Computers by cheque 17,000 6 May Withdrew from bank 5,000 7h May : Withdrew from bank for office use 8,000 May Cash received from Mr. Ali on loan account 10,000

Explanation / Answer

Journal in the books of M/s ALL QUBBA for the period from 1st May to 7th May Date Particulars Debit Credit May 3rd Bank a/c 60,000 To Cash a/c 60,000 Being the amount of cash deposited into bank 4th Loan to Mr. Ali a/c 20,000 To Cash a/c 20,000 [Being the amount of cash given as loan to Ali ] 4th Hamed a/c 20,000 To Cash a/c 20,000 [Being the amount of cash paid to Hamed] 5th Hamed a/c 15,000 To Bank a/c 15,000 [Being the amount paid to Hamed on account by cheque] 5th Cash a/c 12,000 To Ali a/c 12,000 [Being the amount of cash received from Ali] 5th Cash a/c 15,000 To Loan from Ammed a/c 15,000 [Being the amount of loan taken from Ammed] 6th Bank a/c 15,000 To Ammed a/c 15,000 [Being the amount received by cheque from Ammed] 6th Intel Computers a/c 17,000 To Bank a/c 17,000 [Being the amount paid by cheque to Intel Computers] 6th Cash a/c Dr 5,000   To Bank a/c 5,000   [Being the amount of cash withdrawn from bank] 7th 7th Cash a/c 8,000 To Bank a/c 8,000 [Being the amount of cash withdrawn from bank ] 7th 7th Cash a/c 10,000 To Loan to Ali a/c 10,000 [Being the amount of cash received from Ali as loan ]

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