b) Mr. Ahsan started a financial consultancy firm on November 1, 2020. The following
transaction occurred during the month of November.
1. Invested Tk. 1,15,000 cash to start the firm.
2. Paid Tk. 12,000 for September office rent and Tk. 17,100 for employees‟ salaries.
3. Incurred Tk. 6,500 of advertising costs on account.
4. Purchased furniture for Tk. 42,000 of which Tk. 15,500 paid in cash and the balance
will be paid later.
5. Earned Tk. 41,000 for services rendered of which Tk. 16,000 cash was received from
customers and for the balance of Tk. 25,000 the customer was billed.
6. Withdrew Tk. 9,000 cash for personal use.
7. Paid Tk. 13,000 cash on accounts payable.
8. Received Tk. 20,000 from Bank—money borrowed on a note payable.
9. Received Tk. 14,400 in cash from customers who have previously been billed in
transaction (5).
Requirements:
i. Prepare a tabular analysis of the transactions.
ii. Prepare an income statement, an owner‟s equity statement for the month of
November and a balance sheet on November 30, 2020.
Note: please answer as soon as possible ?
Answers
Answer:
ii is the correct answer please thank my all question and follow
Answer:
Received Tk. 14,400 in cash from customers who have previously been billed in
Received Tk. 14,400 in cash from customers who have previously been billed intransaction (5).
Received Tk. 14,400 in cash from customers who have previously been billed intransaction (5).Requirements:
Received Tk. 14,400 in cash from customers who have previously been billed intransaction (5).Requirements:i. Prepare a tabular analysis of the transactions.
Received Tk. 14,400 in cash from customers who have previously been billed intransaction (5).Requirements:i. Prepare a tabular analysis of the transactions. ii. Prepare an income statement, an owner‟s equity statement for the month of
Received Tk. 14,400 in cash from customers who have previously been billed intransaction (5).Requirements:i. Prepare a tabular analysis of the transactions. ii. Prepare an income statement, an owner‟s equity statement for the month ofNovember and a balance sheet on November 30, 2020. is the correct answer bro