In March 2019, Mr. Saleem incorporated his business.

You are required to make General Journal Entries of the

following transactions.

01, March: Mr. Saleem invested Rs. 1,000,000/- cash in

business.

02 March: On the very next day of investment, Mr. Saleem

decided to buy Furniture worth Rs. 80,000/- by paying
cash.

02 March: On the same day Mr. Saleem also bought

Computer on Credit from Mr. Asad for Rs. 55,000/-.

04 March: After acquiring Furniture and Computer, Mr.

Saleem bought Office Supplies by paying 10,000/- cash.

05 March: Due to security issues, Mr. Saleem decided to

deposit cash worth Rs. 500,000/- into bank account.

06 March: Mr. Saleem sold goods for Rs. 25,000/- cash.

07 March: Mr. Saleem paid Rs. 55,000/- Cash to Mr. Asad
for the Computer he bought on 02 March.

08 March: For providing good ambiance to customers, Mr.

Saleem decided to buy Air Conditioner by paying Rs.
50,000/- from Bank Account.

09 March: Due to conveyance problem of staff, Mr.

Saleem decided to buy a car for Rs. 400,000/- by paying
from Bank Account.

10 March: Mr. Saleem sold goods of worth Rs. 25,000/.

Customer Paid Cash to Saleem.

10 March: Mr. Saleem sold goods of worth Rs. 50,000/-.

Client transferred the money directly in Bank Account.

11 March: Due to reckless driving, Mr. Saleem paid

Repairs expense of car worth Rs. 8,000/- cash.

12 March: Mr. Saleem paid Wages Rs. 5,000/- cash.

13 March: Mr. Saleem sold goods to Mr. Khan for Rs.
45,000/- on credit.

15 March: Mr. Khan paid cash Rs. 45,000/-.

16 March: Mr. Saleem bought inventory from Mr. Adnan

worth Rs. 200,000/- on credit.

18 March: Mr. Saleem paid transportation expense Rs.

10,000/- cash.

19 March: Due to late delivery of goods, Mr. Saleem paid

Warehousing expense Rs. 20,000 from Bank Account.

21 March: Paid Mr. Adnan Rs. 100,000/- cash.

22 March: Mr. Saleem paid Rs. 12,000/- for utilities

expense by cash.
24 March: Due to limited cash available, Bank gave loan to
Mr. Saleem of Rs. 200,000/- in cash.

25 March: Sold goods to Mr. Das of worth Rs. 150,000/-

cash.

26 March: Paid Salaries to employees Rs. 75,000/- cash.

27 March: Bank deducted Rs. 800 from bank account as

Service Charges.

28 March: Paid Rs. 5,000/- cash for miscellaneous

expenses.

29 March: Mr. Saleem paid Fuel Expenses of Rs. 20,000/-

by cash.

31 March: Mr. Saleem paid Rent for the month of march

Rs. 20,000/- cash.
31 March: Mr. Saleem bought Machine for Rs. 75,000/-.
Out of this amount Rs. 25,000/- was paid cash and the rest
50,000/- was paid by Bank Account.

31 March: Mr. Saleem paid advance Rent for the month of

April and May amounting Rs. 40,000/-

31 March: Bought Furniture worth Rs. 60,000/- and paid

Rs. 20,000/- cash while balance amount to be paid by Bank
Account.

31 March: Mr. Saleem withdraw cash Rs. 50,000/- from

business for personal use.

31 March: Mr. Saleem withdraw Rs. 25,000/- for personal

use through Bank Account.