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Monday, 8 July 2019

Practice question 6: Prepare 3 special journals of Buygamebucks.pk

Buygamebucks.pk is a sole proprietor, carrying on a trading business of Games and gift cards. They sell V-bucks & Gift cards for fortnite, and also other in-game currency of many other games. Following are the details of their business  transactions for the month July 20XX.


July
1) Started business with Bank balance of Rs. 100,000.
4) Invested a Personal computer worth Rs. 35,000
7) Purchased 10 games on cash worth Rs. 10,000.
Bought furniture for Rs.8000.
10) Purchased Five games from Mr. Oneeb worth Rs. 25,000. Paid cash 5,000 and the rest on account. Buygamebucks will be allowed 10% discount if payment is made till 20th july.
13) Sold 5 game for cash 35000.
15) Paid Advertising expense Rs. 10,000.
18) Sold 4 games to Mr. Salman worth 28,000. Mr. Salman paid Rs. 8,000 cash and the rest is on account.
20) Paid Rs. 20,000 cash to Mr. Oneeb.
25) Paid salaries Rs. 5000.
Required: Prepare the following.
  1. Cash book.
  2. Sale Day book.
  3. Purchase Day book.

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